Wow, That Was Fast…
- Over the years, the big tech companies have made enormous amounts of money by monetizing discussions about politics. But now that Twitter and Facebook have silenced President Trump and have deeply alienated large portions of their user bases, their stock prices are tumbling.
- In addition to permanently banning Trump, Twitter also decided to ban approximately 70,000 of his followers.
- As a result of the ban, Twitter stock fell 12 percent on Monday, and the share-price decline wiped $5 billion from the company’s $41 billion market capitalization.
- According to Business Insider, the stock likely fell because investors are worried that the ban will diminish interest in the platform and lead to boycotts among those who see the decisions as politically motivated and a way to silence conservative voices.
- And it is very bad business to kill off your number one source of income, but that is exactly what Twitter just did.
- Meanwhile, investors are bailing on Facebook as well. In fact, at one point on Monday Facebook’s market cap was down 33.6 billion dollars.
- Apparently Facebook has decided that it doesn’t want conservatives on the platform anymore, because they keep alienating conservatives over and over again.
- On Monday, an Internet service provider in Idaho has decided to block Twitter and Facebook unless their customers specifically request that they be unblocked.
- Even German Chancellor Angela Merkel is speaking out about how wrong all of this censorship is.
- Many Americans on both the left and the right are desperate for a political solution to our problems, but no political solution is going to get us out of this mess.We are going to reap what we have sown, and this is going to be an exceedingly bitter period in our history.
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