Supposing that our noble Congresscritters could agree on a bill, and that Trump would sign it, how would that work? Facebook's data resides on Facebook's computers, under the control of Facebook IT people. Even if they gave the regulators the run of their server farm, how would the regulators be able to find anything, change anything, or even figure out was was happening? Inquiring minds want to know.
Me, I don't think it can happen. Who gets to see how much of Facebook's data trove is solely under Facebook's control, and Facebook can keep all transactions secret. Pass all the laws you like, hire as many well paid regulators as you like, and Facebook is still running the show, the way it wants to run it.
If I knew of a competing website that offered the chit chat and picture posting opportunities that Facebook does, I'd switch, and talk all my facebook friends into following me. Instagram perhaps? However, at this time, building up a competitor against Facebook' s market dominance would be tough.
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