Trump Versus Twitter 📲
Trump Versus Twitter
President Trump has signed an unreal executive order. He wants it so that social media companies are held liable for the nonsense said by their users, and their good-faith blocking and banning of that nonsense.
It’s really him versus Twitter, because Twitter just flagged down some of his own nonsense with a new fact check feature. He wants to protect the platform from change, because it’s been vital so far to his political success, and the new feature could stifle reelection chances.
The bill is called ‘Section 320,’ and the Invstr community is trading it like a toothless tantrum. “This news will be short-lived and offers a buying opportunity,” said one user. Hunter Berg expects a pull-back for Twitter eventually, but we’re 88% bullish right now, and legal experts beg to differ on the executive order’s enforceability.
The first amendment talks about “we the people” having freedom of speech, and freedom of information isn’t far from that. You can bet, this bill is never getting congressional approval. The bill passing would give Twitter no choice but to kick him off and probably file for bankruptcy, so it’s not about that.
It’s just a presidential power move. President Trump is laying down a marker to tell Twitter, “ditch the fact-checking or worse is coming.” We don’t know how Twitter CEO, Jack Dorsey, or other social media giants will respond, but it would be wise to expect volatility in the near-term!