Watching the Trump-Dorsey feud
It started with a tweet... But the battle with social media giants has been #trending in DC for a while. On Tuesday, Twitter (for the first time) flagged two of Trump's tweets with links for additional information, as Twitter deemed the words from the President about mail-in voting "potentially misleading." Then yesterday, Trump signed an executive order targeting social giants — TLDR: he's not a fan of Section 230:
If Trump's order succeeds... Without immunity powers, Twitter and Facebook would have never grown into the giants they are today. If Facebook got sued every time someone posted something offensive or false, the 'Book would never have made it past Mark Zuckerberg's dorm room. Losing broad immunity would be disastrous for social media companies.
Investors didn't break a sweat... Despite being (pretty much) directly targeted with an Executive Order by the President of the United States, Twitter's stock moved only slightly downward (4% Thursday). Facebook, which is equally affected by the move, barely budged (it's near an all-time high). Why?