Ignoring the enormous argument over whether what I am about to say is legal in the US/America's particularly constructed law... Is it time to consider whether

Ignoring the enormous argument over whether what I am about to say is legal in the US/America's particularly constructed law... Is it time to consider whether companies who's primary business is the collection, summation, synthesis, and re purposing of information should be defacto illegal? Its not that having the government do this is meaningfully better, but I'm convinced that is a better overall path. The public seem more afraid and more willing to engage in a more serious discussion over ethics. At the very least, it would enable the public to have more oversight over how such data is collected, stored, embargoed (or not), and used. The level of abstraction and fuzzing that is allowed by allowing a non-governmental entity like Palantir or Facebook to have (whether as a collector or aggregator) the data and governments be only a user seems too difficult to regulate and even have a transparent discussion about because claims of national security and secrecy are nested within claims of trade secret and intellectual property in ways that create a moat around effective oversight. So seriously...if we made this business model illegal, what do we lose? What exceptions would need to exist?