Perhaps we need a new name for this category of companies. Companies that may or may not have a monopoly, but are so big and rich that they do not have to care about what people and most governments think. They are shielded, to a great extent, from normal market forces because of their wealth and market share.
I propose "too big to care". It should be up to the governments to force "too big to care" companies care about their customers, because in the absence of regulatory pressure, they can simply ignore them and still bring in billions.
A novice asked the master: “I perceive that one computer company is much larger than all others. It towers above its competition like a giant among dwarfs. Any one of its divisions could comprise an entire business. Why is this so?”
The master replied: “Why do you ask such foolish questions? That company is large because it is large. If it only made hardware, nobody would buy it. If it only made software, nobody would use it. If it only maintained systems, people would treat it like a servant. But because it combines all these things, people think it one of the gods! By not seeking to strive, it conquers without effort.”
— The Tao of Programming (Geoffrey James, 1987), chapter 8.1
I propose "too big to care". It should be up to the governments to force "too big to care" companies care about their customers, because in the absence of regulatory pressure, they can simply ignore them and still bring in billions.