How the Election Aftermath is Changing Social Media
Mark Douglas joins Yahoo! Finance to discuss Capitol Hill's move from Twitter to Parler, and the risks looming for big tech.
This year’s election has spurred some social media trends, particularly around censorship and big tech. SteelHouse CEO Mark Douglas joined Yahoo! Finance to discuss the potential consequences of these latest trends.
Conservatives Leaving Twitter for Parler
Censorship concerns have conservatives of the likes of Ted Cruz, Sean Hannity from FOX News and Republican senators, leaving Twitter for a new app Parler, in droves. Why? Parler is the newest app on the scene, which provide for rawer, unfiltered and unedited conversation. Douglas explains, “Parler is a new app…it feels like Twitter reinvented. It’s video centric and is a new vehicle for [users] to pick up followers and spread their message.”
There’s also something to be said about Twitter and Facebook’s use of fact checking to control misinformation, especially during the election. “They used third party fact checkers like Politico, and have been effective…which is why people are migrating to other apps if they don’t want it to occur,” says Douglas.
The question of whether or not this trend will ‘stick’ is fair game, but all signs suggest that the Parler app has a wider appeal to Americans who believe in their First Amendment rights and don’t want their content being edited out.
What does Biden’s Administration Mean for Big Tech?
Douglas believes that things will remain unchanged for the most part, “the big threat is to eliminate the lawsuit protections these social media platforms have…I don’t believe the new administration will remove the protections. If they did enable Facebook and Twitter to be sued, then it’ll be harder for them to edit posts, so it will probably be left alone.”
Even the latest news of the Google and Amazon EU lawsuits don’t pose as big a threat, since these are around business practices that are easy to change. However, the company with the most to lose is Apple, since their app store is such a big part of their services business and their profits.