- The weekend began with Facebook (NASDAQ:FB), Twitter (NYSE:TWTR) and Snapchat (NYSE:SNAP) permanently banning and silencing President Trump, but the actions quickly spread across the communication and tech space. The top app stores from Apple (NASDAQ:AAPL) and Google (GOOG, GOOGL), as well as Amazon's (NASDAQ:AMZN) web hosting service, kicked out Parler, a "free speech" platform that has grown in popularity among conservatives and to which many banned users were expected to emigrate.
- Why are the tech companies taking action now? The firms cited "risks of violence" and "repeated and severe violations" of their policies following the storming of Capitol Hill, which led to five deaths including one police officer. They might also be foreseeing scrutiny risks. If there was a follow-up to the violence, the social media companies could be held responsible by the incoming Biden administration.
- Bigger picture: While the measures taken are legal - private firms aren't subject to the First Amendment - they highlight more starkly than ever the companies' influence over public speech and online conversation. Many of the Big Tech giants own the keys to the pipes and plumbing of the internet, and without those services, many users may be forced to find alternative providers that will see less interaction among a broad variety of views. That could force many users into like-minded echo chambers that could reinforce their own beliefs and further polarize the political landscape, but the alternatives of no moderation can be just as scary.
- Other happenings: Millions of users have jumped ship to Telegram and Signal in the past week, according to data analytics firm Sensor Tower, as WhatsApp told users they must share sensitive personal data with Facebook or have their accounts closed. Many on Twitter are also complaining of a #TwitterPurge that deleted scores of followers, though the company called it a routine audit, while Stripe stopped processing payments for the Trump campaign website and Shopify pulled Trump stores from its platform.