Companies as large as Facebook (really all of the American Big Tech) should just be illegal.
It's long overdue that we remembered that the very notion of a corporation is a creation of society. Corporations have no natural rights whatsoever because they don't naturally exist. It follows, then, that societies have the right to impose any limits and prohibitions when chartering corporations that don't discriminate against their owners (i.e. so long as restrictions apply uniformly). This includes limit on company size, its marketshare etc.
They already are illegal, laws are just not enforced. We don't need more laws, we need enforcement. It's the same in the EU. If GDPR laws were probably enforced the yearly fines would be a magnitude higher than they currently are. But they're still too scared because of the defense and gas reliance.
It stems me positive to read this by a user with a 2012 HN account though! Nice.
In US at least, the current interpretation of our anti-trust laws (after Bork's https://en.wikipedia.org/wiki/The_Antitrust_Paradox) is such that it is not illegal - you have to prove harm to users, mere market dominance isn't sufficient.