In recent months, some of the world’s most successful tech companies have faced an increasing backlash from policymakers and the public. From anger over the alleged spreading of “fake news” during US elections to complaints of unfair competition and tax dodging in Europe, there are growing signs that people are losing patience with big-tech disruptors.

At the heart of some of the criticism of these firms is the fact that their business models depend on a “positive externality” – a resource that they do not own, but that benefits them greatly. In this case, it is the internet itself that companies such as Facebook, Amazon, Netflix and Google have capitalised on so successfully, effectively privatising a public good.