Both Twitter and Facebook have seen sharp falls in their share price as the controversy over Big Tech muzzling Donald Trump continues.
Twitter plunged almost 9% since it banned the U.S. president on Friday, and embarked on what conservatives described as a “purge” of users, with many others leaving the platform in protest. Facebook slumped more than 6% in the same period after Mark Zuckerberg said Mr Trump would be suspended at least until the end of his term on January 21st.
The bans and restrictions across a slew of platforms owned by a small number of Big Tech companies have sparked a furious debate about the ability of social media platforms to close down debate – and to silence a sitting President who had just received 74 million votes in the November election. Google, Apple and Amazon also moved in concert to close down Parler, a rival to Twitter. Germany’s Angela Merkel joined other international political leaders in expressing concern about the ban and the power of huge corporations to affect political outcomes.