When I do a search on Google I give Google information. When Google gives me the results I get information. This data exchange or information barter involves “value” but no money is exchanged. Thus no taxes. This happens billions of times daily across all social media platforms. The analogy above is that data is gold is not far from reality and the data economy is mostly untaxed.
I think focussing on the micro is also a distraction here. An individuals data has almost no marginal value. But if you aggregate everyone's data then it does become valuable. This is why the whole 'just pay me for my data' argument never works.
By extension focussing on the negative impact on an individual is very small, but the overall impact on society and culture is massive (which in turn impacts individuals).
Taking that a step further I think you can argue there is some tragedy of the commons occurring which indicates govt. regulation should exist. Govt regulating media is tough, but as the US showing here, a rule getting rid of foreign actors might be a good idea for many countries.
