It’s no secret that not everyone loved Donald Trump’s signature style and personality. That personality let frequently let loose across social media, attracting millions from around the world. As President of the United States, his posts carried plenty of weight. But his bold and abrasive approach is what fascinated some and outraged others.
The media never liked Trump’s approach. And for years, they tried to get him kicked off of major platforms. They got their wish when social networks locked his accounts over the bogus accusation that he incited violence. Millions around the world, including leaders of foreign countries, were disgusted by this act of censorship.
And now Twitter and Facebook are feeling it where it hurts.
Facebook and Twitter have lost a combined $51 billion in market cap following their bans of President Donald Trump last week as investors balked at the tech giants’ surprise censorship of Trump roughly two weeks before his term was set to end.
Facebook bore the overwhelming brunt of the market plunge, according to Business Insider, seeing gargantuan losses of $47.6 billion following CEO Mark Zuckerberg’s announcement that Trump would remain suspended from the social media platform “indefinitely,” until at least after President-elect Joe Biden’s inauguration. [Source: Just the News]
Woah. Investors DO NOT like the fact that social media sites—whose sole purpose is to provide a place for users to speak—are clamping down on users’ rights to speech. That’s the whole reason Twitter and Facebook exist, how did they not realize this?
The shut down of the social accounts of the President of the United States over vague, unproven accusations does not go over well with anyone. Sure, some left-wing numbskulls might applaud the move. But very quickly they will lose interest in the one thing they did on those sites: attack and fight Donald Trump and his supporters.
Most normal people, on the other hand, don’t like to see a social media site censoring and blocking anyone, let alone someone in leadership. Facebook and Twitter can make up any accusation they want, but they are showing their hand as leftist censors—not a good look for “free” platforms.
These losses might go hand-in-hand with a mass exodus from their platforms. News has spread over the last few weeks that hundreds of thousands of users are signing up with alternative social networks. While Amazon shut down Parler, there are countless other sites people can use besides the Orwellian Twitter and Facebook.
With possible further losses coming, do you think these networks will reverse course?
I wouldn’t hold my breath, if I were you.