Cyberspace as a virtual venue for communication and information offers its users potentials the consequences of which can be debated from different angles. The critique coming from respectable professional sources highlights some of the risks in the system. Cyberspace has accelerated a fundamental transformation in consumption and increased the use of digital services. It reinforced digital business models’ dominant position at the expense of more traditional businesses. Tech giants showed how vital is big data and inferred data derived from the Internet users’ activity. Today hardly anyone can ridicule or dismiss as bizarre stories of censorship, malevolence, manipulation, fake news, fraud or actions of distinct ideological flavour. Hardly anyone mentions the fate of the human being who has drifted into the domain of illusion.