Day: January 11, 2021

The bans were strongly criticized by senior lawmakers in Germany and rance. Chancellor Angela Merkel argued lawmakers should set the rules governing free speech, not technology companies, while rench inance Minister Bruno Le Maire said that the state should be responsible for regulations, rather than “the digital oligarchy,ȁ and called big tech “one of the threatsȁ to democracy.

The big tech companies justified their actions by citing posts stoking riots in the U.S. capital last week and sought to avoid further incitements to violence. The bans underscore the power these companies hold over how information is disseminated and the impact their decisions have. Before, it was their stance to allow incendiary speech from Trump and his allies that drew heavy criticism from the left.

Regulatory risks for social media companies will persist even though emocrats will control the Congress and White House, Bank of America analyst Justin Post wrote in a note to clients. Twitter is also likely to see some usage decline as a result of dismissing the president, he wrote.