I'm all for small government, but social media should be regulated into the dirt similarly to the rail/oil monopolies during the industrial revolution.

Agreed, and I'm going to hijack your comment to propose a target of regulation: news aggregation. This is how they feed propaganda directly to the masses these days, and in the wrong elitist hands is a threat to national security. I'm talking about everything from Google News on your phone, to the twitter Trending News sidebar. There are many rules that could help, but at a minimum that kind of feature needs to be opt-in, with a disclaimer clearing stating how the news sources are curated. The algorithm used needs to be completely transparent and easy to review, and ideally have a way for the user to choose which news sources to follow.