Big tech giants Twitter and Facebook see $51 billion combined market value erased after censoring President Trump.
Days after banning President Donald J. Trump, social media giants Twitter and Facebook were hit with a $51.2 billion market value loss over the last two trading sessions, according to The Epoch Times.
The move to sensor the President from their platforms came after the unrest during the unrest at the U.S. Capitol on Jan. 6.
President Trump repeatedly called for peace that day, taking to Twitter to denounce the violence–which he later referred to as a "heinous attack" that "defiled the seat of American democracy–and telling his supporters to "go home in peace."
Nevertheless, Twitter blocked Trump's video condemning violence before permanently banning his account two days later. Facebook banned the President for the rest of his presidency.
Even left-wing news media like The New York Times (NYT) say that while they agree with banning Trump specifically, platforms like Twitter and Facebook have too much power.
"Tech giants were right to ban the president," reads one NYT opinion piece, continuing, "We still need to break them up."
Anti-Trump media understand that if beg tech can shut down the President of the United States, they can shut down anyone.
Alarmingly, Facebook has begun to join with big banks–such as J.P. Morgan Chase, Citigroup, Goldman Sachs, and Morgan Stanley–and other major corporations who are halting political spending to Republican and conservative politicians and policies, Breitbart reports.
In recent years, political contributions have "skewed left." Particularly in Silicon Valley, companies are pressured by "highly politicized employees to reject Republican and conservative politicians and policies." Notably, many of America’s biggest companies–Amazon, Gatorade, Microsoft, Airbnb, Nabisco, Dropbox, Fitbit, Tinder–reacted to last summer’s Black Lives Matter protests and riots by pledging support to related groups.
Hours ago, President Trump denounced the violence yet again in a video posted to the White House Twitter account.
The Epoch Times reports:
A large number of pro-Trump accounts were also deleted by Twitter and Facebook.
As users attempted to flee to Parler and other social media websites, Amazon Web Services suspended its service with Parler on Monday morning, triggering a lawsuit from the company hours later.
Most recently, Google’s YouTube removed new content from Trump’s account and suspended his channel for at least a week, saying that the channel violated its policies for “inciting violence.”
“After careful review, and in light of concerns about the ongoing potential for violence, we removed new content uploaded to the Donald J. Trump channel and issued a strike for violating our policies for inciting violence,” a YouTube spokesperson said in a statement to The Epoch Times.
“As a result, in accordance with our long-standing strikes system, the channel is now prevented from uploading new videos or livestreams for a minimum of seven days—which may be extended. We are also indefinitely disabling comments under videos on the channel, we’ve taken similar actions in the past for other cases involving safety concerns.”
Google did not have any further comment when asked about what aspects of the content on Trump’s channel had violated its policies.
The president has argued that companies like Google, Twitter, and Facebook will fail due to censorship.
Big Tech is “doing a horrible thing to our country. … And I believe it’s going to be a catastrophic mistake for them,” Trump said.