Chamath’s prediction has effectively come true. Since 2020, multiple governments have created new, platform‑specific regulatory frameworks that go beyond earlier, more general laws and directly govern how large internet and social media platforms operate and manage societal risks.

In the EU, the Digital Services Act (DSA) became law in 2022 and is now fully applicable. It establishes a comprehensive accountability regime for online intermediaries and very large online platforms (VLOPs) such as major social networks and marketplaces, including systemic risk assessments, obligations to mitigate harms (e.g., to fundamental rights and electoral processes), transparency of recommender systems, and independent audits—significantly updating and tightening the older 2000 E‑Commerce Directive framework. (fra.europa.eu) In parallel, the Digital Markets Act (DMA) introduced a new competition regime for designated “gatekeepers” like Alphabet, Meta, Apple, Microsoft, Amazon, and ByteDance, imposing binding “do’s and don’ts” on how their core platform services may leverage market power and data, again going beyond pre‑existing competition rules. (digital-markets-act.ec.europa.eu)

In the UK, the Online Safety Act 2023 created a new statutory framework that places explicit legal duties on social media companies and search services to protect users from illegal content and harms to children, enforced by Ofcom, marking a shift from largely self‑regulatory approaches to detailed operational obligations on platforms. (gov.uk) In the United States, while there is still no single federal framework of comparable breadth, several states—such as New York’s SAFE For Kids Act (regulating “addictive” social media feeds for minors), California’s SB 976 (restricting addictive feeds and notifications for minors), and Virginia’s SB 854 (limiting minors’ time on social media and requiring age verification)—have enacted targeted platform regulations addressing algorithms, feeds, and youth usage. (en.wikipedia.org)

Collectively, these developments show that post‑2020 governments did in fact implement new, more direct regulatory frameworks for major internet and social media platforms aimed at governing their operations and societal impact, consistent with Chamath’s prediction.