[pimmen]

Then it definitely sounds like regulation is required, the vast majority of Facebook's users don't know how to do all that. The public should not have to protect themselves from unethical companies, the companies should have to stop with their unethical behavior lest the government shuts them down.

Drawn to its logical extreme, you don't need regulation to be protected from racketeering if you run a restaurant either, you can just hire private security and arm yourself.