Some people will ask why, then, was it that the British Navy was not able to prevent the movement of a large army from Germany into Norway across the Skagerrak? But the conditions in the Channel and in the North Sea are in no way like those which prevail in the Skagerrak. In the Skagerrak, because of the distance, we could give no air support to our surface ships, and consequently, lying as we did close to the enemy's main air power, we were compelled to use only our submarines. We could not enforce the decisive blockade or interruption which is possible from surface vessels. Our submarines took a heavy toll but could not, by themselves, prevent the invasion of Norway. In the Channel and in the North Sea, on the other hand, our superior naval surface forces, aided by our submarines, will operate with close and effective air assistance.
This isn’t to say that the end is near for these new giants — or even for Uber, whose business is, it says, still growing. Just that the golden age is over. The new era for them will be normal politics, normal regulation, with California senators deep in their pockets who fight for them as hard as Texans fight for oil, but with a deep bipartisan current flowing against them. They’ll win some and they’ll lose some, and some of their losses may be as bad as what happened to Microsoft in the 1990s when it flew too close to the sun — and then faced an antitrust lawsuit that almost broke the company up and probably changed it enough to benefit, among others, Google.