When will EU countries start making major social media platforms?

I get the lack of SpaceX or Boston Dynamics but not even social media on a major scale. I truly believe that instead of trying to change other countries companies, you should instead create your own with your rules and ideology.

I'm not trying to defend a man who cares very little about ethics but rather an industry that's heavily produces everywhere except the EU yet the EU is the only one really hellbent on changing the rules.

Many Europeans were thinking that these foreign social media platforms that Europeans so heavily us, mostly from America would be forced to change and ultimately EU would be the victor (I even was convinced of that) but now you have even less control than you did before.

That makes no sense to me at all.