Team Classiarius has a vision of shocks to social media companies, at least one will fall in the process – keep reading.
President Donald Trump has made several statements including one that mentioned Facebook, Twitter and Google were “treading on very, very troubled territory and they have to be careful” according to several sources. The country`s top prosecutor is said to be meeting state officials on the back of recent claims by the president – so it seems that social media companies are a target now.
US Attorney General Jeff Sessions is scheduled to meet with state attorneys general later this month to discuss concerns including questions about “stifling the free exchange of ideas on their platforms,” which mentions social media companies in the context that they may be hurting competition. When the Attorney General starts talking about antitrust action against Silicon Valley and the US President is commenting on political bias and censorship by major social media firms, the stock market and society in general suffers shocks. The stocks of these social media giants and tech in general are under pressure.
After reports that President Trump and the Attorney General have been at odds for months and that the AG might be leaving in November should be taken into account – the timing of this discussion on social media is interesting in the least. Still, Republicans have been complaining that social media companies have been showing clear political bias which these tech companies have continued to deny.
Classiarius Viewpoint – What if there are strong allegations toward social media companies and there is a sudden change in the industry? This could mean that firms with clear freedom of speech rules start to break into the tech world. It could take the form of a buyout of a weakened social media firm that has been accused of hurting competition or it could take another form. Our point is that the fortress of left leaning views might be breaking up, and there could be, as a result, a mixture of viewpoints from many different media companies. Either way, Facebook, Youtube, Google and Twitter could be much different platforms in the future if the Republicans and President Trump continue to speak out.
And finally, what are the implications in society if there is a shift in freedom of speech rights in social media, and universities in the United States? Competition will, in the end exert its power and in our view, at least one social media giant will fall.