And so, almost everyone loses. Gargantuan wealth destruction, and monopolistic consolidation at the end. Feels like how evolution also produces inevitable catastrophic bottleneck conditions once in a while.
Way around this:
First stop using their products and tell your friends!
For Search
Use Mojeek / Qwant / Ecosia / DuckduckGo
For E-mail, Cloud Storage and Office Use:
Proton, iCloud, Tutanota and others.
Then write to your politicians demanding they divest government funds from big tech hyperscalers and invest in local providers (or alt providers if you are American) like OVH, Hetzner, Leaseweb, Ventraip, Vultr, Digital Ocean, etc... tell them the economic damage they are causing and why these players are better. Demand they prioritise investments that are (1) local and (2) don't make business decisions that threaten their ability to continue to keep their workers employed.
If you are employed in tech as Bert Hubert says use your clout to make your higher ups do differently where possible.
To some extent this is now happening.