It is absolutely understandable to me that the article is wary of new regulations and laws but in this case I‘m in hard opposition.

According to the article „companies should be more transparent but a law is not the way to do it.“ (not verbatim)

Also, it claims that people would be rightfully outraged if fox news (or any other major TV station) would have to give up editorial secrets due to oversight, but social media companies should.

All leading media should have government oversight as it is responsible for all major „opinions“ by shaping what they show and what they don’t.

People like the author need to understand that if there is no law in a highly volatile/competitive field, then it becomes the wild west or „survival of the fittest“ which in this case means which company has more money.

Although it is critical that we stay vigilant, focusing on „keeping the government from controlling megacorps“ is not the way.

These megacorporations (which includes buffet media afaik) are essentially states in terms of wealth, ownership, complexity and influence. We can not allow states to exist in countries that are not bound by the same laws as other government entities.

Therefore I think (albeit the formation of new committees that bothers me a bit) that more control over megacorps is inherently good and should be boosted.