Should we regulate Facebook like a railroad?

After the revelations of how information that customers thought was private was manipulated in the last election, Facebook and Google (the owner of YouTube) are facing the risk of being designated as regulated utilities.
The path from private monopoly to regulated utility is well trod in the United States. It is often premised on the economic condition called network effects, which characterizes Facebook, and is sparked by charges of abuse, such as Facebook and YouTube are both now encountering.