I actually disagree. Regulating a single giant company becomes an exercise in compliance, which American governments are absolutely terrible at. The single giant company has the resources to fight any action that could existentially threaten it. This winds up in its' own set of abuses.
In a robust market of smaller players the regulatory agencies can stick to rulemaking, investigation, and enforcement (civil fines/prosecutions), which is what they are great at. Smaller players don't have the resources to compete with the government and force them into regulatory trench warfare.
This is similar to the situation with the IRS — they spend most of their time auditing EITC cases, and other issues related to poor and middle class people. They don't have the resources to collect on the billionaires who have enough power to fight the government to attrition.
In a robust market of smaller players the regulatory agencies can stick to rulemaking, investigation, and enforcement (civil fines/prosecutions), which is what they are great at. Smaller players don't have the resources to compete with the government and force them into regulatory trench warfare.
This is similar to the situation with the IRS — they spend most of their time auditing EITC cases, and other issues related to poor and middle class people. They don't have the resources to collect on the billionaires who have enough power to fight the government to attrition.