Tech companies become huge not because they’re the best, but because they’re minimally ethical as this allows them to grow their user base, user attention, user tracking, advertising and profits maximally though addictive and possibly harmful products.
Any for-profit company can not possibly align its interests completely with that of its users. If they did the products would have to be free of cost, free of ads, free of addictiveness and distractions, and with no selling of personal information, and so they would have no money.
Attempts at making ethical companies will fail, as they will fail to grow and also fail to make any money. Charging for products won’t work when users can get a similar product for free, and charging a fee will exclude products from the poor.
There is however an advantage in “appearing” to be ethical. That is why big companies try to convince us and their employees that they are “connecting the world” (Facebook) and “don’t be evil” (Google) when in fact this is little more than carefully crafted propaganda. These companies are however not completely unethical as that would turn off their employees and users, but rather they are minimally ethical.
Companies that try to be more ethical will never grow as big as the minimally ethical ones. However more ethical products may appeal to smaller niche markets, but to survive will still have to be quite unethical so they can make money.
Technology mirrors life and it is human nature for many people to be selfish and take advantage of others.
What will work is a cultural awakening of users, to use better tech and also stop using harmful and addictive products.
Regulations like the EU cookie law and GDPR will end up doing more harm than good, because they create problems in the form of annoyances, lost productivity and economic losses which are greater than they problems they attempt to solve. These laws also increase the competitive advantages companies who ignore the laws, and of unethical companies who force or trick people into consent (as Google and Facebook are doing). These laws will harm ethical companies and journalists, and cause EU ad revenue for small business who are foolish enough to comply to drop to slightly less than half of their previous earnings before GDPR, and will also harm EU advertisers, EU consumption levels and ultimately the economy of the EU. To prevent that from happening, businesses will force or trick people into consent or not comply at all, and that is the ethical choice.