President Trump's clampdown on social media could hurt startups and cripple competition with Facebook and Twitter
Thursday that could open social media companies up to federal or state sanctions — a move that closely followed Twitter's decision to add fact-check labels to two of the president's tweets.directs the FCC and FTC to consider changing the interpretation of a federal law that has for decades allowed social media companies and other online forums to host third-party posts without being held responsible for fact-checking that content or removing offensive statements.
"I think Trump's reaction to what Twitter is doing is literally pissing in the wind. It's too late, it's out of the bag, and all he is going to do is get dirty," said Ganesan, whose investments include Rover, Redfin and Palo Alto Networks. Section 230 also allows companies like Twitter to moderate the flow of messages they host, and holds that companies won't be held accountable for their voluntary actions to restrict access to content that they deem objectionable, whether or not that material would be considered constitutionally protected as free speech in other forums.
But new and emerging startups will not have that luxury, according to the startup advocacy group Engine.
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