In this paper, we explain what more is needed to square the circle of Internet regulation in the broader public interest, for all Internet users, not the fortunate few or the even more fortunate and fewer dominant corporations. We argue for ‘prosumer law’ and give an example of our proposed solution to the problems of dominant social networking sites. What should prosumer law consist of? It is not sufficient for it to permit data deletion as that only covers the user’s tracks, it does not entitle them to pursue new adventures, particularly where all their friends (real and imagined) are cocooned inside the Schumpeterian victor’s web. It requires some combination of interconnection and interoperability, more than transparency and the theoretical possibility to switch. It needs the ability for exiting prosumers to interoperate to permit exit. We then examine the international governance of information, especially the apparent incompatibility of human rights and trade-related concerns exposed in such multi-stakeholder fora as the OECD. Finally, we argue for holistic regulation of the Internet, taking a trans-disciplinary perspective to solve those’ hard cases’ we have examined. Prosumer law suggests a more directed intervention, to prevent Facebook or Google or any other network from erecting a fence around its piece of the information commons: to ensure interoperability with open standards. We argue that it is untrue to state that there is so much convergence between platforms that there is no clear distinction between open commons and closed proprietary environments, though ‘voluntary forfeiture’ of IPR to permit greater innovation has always been commonplace. We base our argument on the empirical case studies presented in ‘Regulating Code’ (MIT Press, 2013, forthcoming). We describe the multi-stakeholder environment for Internet governance and regulation, in which user groups lobbied along with business and governments. We also describe the insights of new institutionalism, with exit and competition for standards becoming increasingly critical in the information economy. We then describe interoperability as a means of lowering entry barriers and increasing consumer welfare. We also describe how highly computer literate prosumers could encrypt and otherwise creatively use their Internet access to secure access to an Internet experience with more freedom in both expression and access to information goods, and how the control technologies were deployed to limit some of this freedom. We explain that this freedom is for at-the-margin ‘tech geeks’, not the billion Facebook and Google users. We describe the perils of stranded citizens with little market attractiveness, those who are digitally illiterate, follow default settings slavishly, do not understand privacy policies let alone click-wrap software licences, and are unable to exit the environments in which they find themselves.