Do We Support Digital Monopolies?

Browsing the internet, I found an interesting link to an editorial on the Wall Street Journal Online. Aptly titled In the Grip of the New Monopolists, the writer Tim Wu makes a very interesting critique on current internet trends, mainly about the development of Web 2.0. He draws striking parallels between the behaviors of Google and Facebook and older monopolies like the former AT&T. He shows how consumers willingly flock to these companies because size equates to efficiency, yet he gives a strong warning that once these monopolies past their golden age, they refuse to relinquish their control. He contests that this scenario is very detrimental to consumers because it halts the trend of progress and restrains the lassie-faire competition model. His message is one of foreshadowing of a darker future for the internet than what we have discussed in class.

Is Wu justified in his concerns about the power of the new internet monopolists? Or will we, the users, keep them accountable so his vision never comes to fruition?