I have to agree with your sentiment about there being no check for the government, especially when there are things the government can't do. Still, on one hand, you have Zuckerberg trying to revolutionize education, while on the other hand, you have Soros and the Koch brothers inverting democracy for their personal interests. At least when the government is corrupt, you can vote them out or at worst, have violent revolution. An individual? Ask them kindly to stop? Kill them?

I think I'd feel more comfortable with corporation(s) competing with the government, because then, you could "vote against them with your dollar." Another thing which is done in government labs in the US is having labs/universities compete with each other for funding (although whether this yields good incentives for research is another story, and we're trying to find avenues for innovation that are difficult for the government, and ostensibly, difficult for govt labs too).

Finally, if we do accept this form of oligarchy (where one oligarch is the government we vote for), no doubt will we have entities which disagree with each other, say, Soros or the Koch brothers. Now, then, the rest of us just become the grass at the feet of fighting elephants[0], and I hell don't know how anyone would feel comfortable with that. I suppose the only option you have then for having a voice is to become the next elephant, and while I love hacking/disruption as the next guy, I know statistics too, and I won't delude myself I will become Zuckerberg or even four orders of magnitude near him.

[0] http://www.afriprov.org/african-proverb-of-the-month/27-2001...