On the other hand, the US is essentially an oligarchy masquerading as a democratic republic, and the relationship between Big Tech (particularly the big social media silos) and three-letter agencies/the military industrial complex is disturbingly incestuous. Government having the monopoly on violence doesn't imply corporate power is benign when people are killed over their metadata.

Private industries routinely buy government officials with a monopoly on violence, and regular citizens have no recourse to remove those officials so the distinction is meaningless.