I am 100% behind any attempt to break up Facebook and Google, but given that they are de facto the government (just see how many ex googlers have high bureaucratic office), this seems as likely as the feds voting to reduce their influence.
Framing FAANGs as entities contra governments as a whole doesn’t really capture the relationship, which has evolved something more akin to the checks and balances that exist between branches of government.
Twitter banning Donald Trump's account doesn't make them more powerful than the US government, for instance. MacDonald's serves billions every day, but no one calls them a superpower.
I'm not saying this will happen - it surely won't. But it could.
What will and already does happen is that companies won't replace governments with their puppets, but use their power over information to extract more and more value from the people and to get existing governments to make it easier for them.
Violence is a crude tool used by empires of the past. Even governments are starting to abandon it. Access to and control of information is the name of the game now. Governments need to hack, deceive and threaten to get information, but we've already voluntarily put these tech companies in control of ours. Governments have already lost on that front.
This is like claiming the epa has no army ... technically true but completely missing the larger context
This is one of the main reasons antitrust law was created. They ought not to be treated the same as government, they ought to be broken up and not allowed to be as powerful as government.