Remember when Twitter would slap warning labels on Donald Trump’s tweets? (If not, does this refresh your memory?) Not only has Twitter failed to ban war criminals like Putin from its platform; it is also allowing the Kremlin’s account to spread fake news with impunity — not a single “misleading information” or “glorification of violence” warning label in sight! Behold:


The absurdity of cancel culture.
wish we could cancel the cancer that is social media!
I see your point. Is there a possibility to re-direct the incentives of social media companies? If there was a large cost for censoring content, they wouldn’t do it.
the key here is competition and choice — as long as there are many social media platforms to choose from, each with its own (inconsistent) set of policies — we are good!
Not to echo or support the economically illiteracy of the trust-busting rhetoric that has been espoused by Elizabeth Warren (overall, I find the enterprise of antitrust laws functioning as a consumer protection measure to be spurious at best), is the social media market too concentrated?
A lack of viable alternatives may be indictive of this assertion. But it could also be a network effects issue, as the other alternatives exist, but only a small number of users. Drastically reducing the utility of a user spending time on these applications.
great points, but that’s the rub: there are plenty of social media platforms to choose from!
The question becomes why do some many people gravitate towards so few platforms?
an economist might say “network effects” — i.e. the more people using platform X already, the more you want to be on platform X — but this begs the question, why was X popular in the first place!?
That’s what I was getting at in my previous question. What attributes about instagram, Twitter,TikTok,Facebook, etc. that makes them preferable to other platforms?
I tried Parler for a minute… I wasn’t really thrilled then again I am not a big social media fan to begin with (unless you count WordPress).