An anonymous reader shares a report: The rise of cyber-bullying and monopolistic business practices has damaged trust in the internet, pioneering entrepreneur Baroness Lane-Fox has told the BBC. The Lastminute.com founder also called for a "shared set of principles" to make the web happier and safer. She said the internet had done much good over the last 30 years. But she said too many people had missed out on the benefits and it was time to "take a step back". "The web has become embedded in our lives over the last three decades but I think it's reached an inflexion point, or a sort of midlife crisis," she told Radio 4's Today programme. Baroness Lane-Fox co-founded travel booking site Lastminute.com in 1998 before going on to sell the firm for 577m pound seven years later. She described the early days of the internet as being "full of energy and excitement," and akin to the "wild West". "There was this feeling that suddenly, with this access to this new technology, you could start a business from anywhere," she said. However, she said that while technology had become a hugely important sector of the UK economy, it had not fulfilled its early potential.