President Donald Trump answers questions from reporters during an event on protecting seniors with diabetes in the Rose Garden White House, Tuesday, May 26, 2020, in Washington. (AP Photo/Evan Vucci)
By Zeke Miller
President Donald Trump on Wednesday threatened social media companies with new regulations or even shuttering after Twitter added fact checks to two of his tweets.
The president can’t unilaterally regulate or close the companies, which would require action by Congress or the Federal Communications Commission. But that didn't stop Trump from angrily issuing strong warnings.
Claiming tech giants “silence conservative voices,” Trump tweeted early Wednesday, “We will strongly regulate, or close them down, before we can ever allow this to happen.” Later he tweeted without elaboration, “Big Action to follow.”
He repeated his unsubstantiated claim — which sparked his latest showdown with Silicon Valley — that expanding mail-in voting “would be a free for all on cheating, forgery and the theft of Ballots.”
There was no immediate reaction from Twitter or other social media companies to the president’s threats.
Trump and his campaign had lashed out Tuesday after Twitter added a warning phrase to two Trump tweets that called mail-in ballots “fraudulent” and predicted that “mail boxes will be robbed,” among other things. Under the tweets, there is now a link reading “Get the facts about mail-in ballots” that guides users to a Twitter “moments” page with fact checks and news stories about Trump’s unsubstantiated claims.
Trump replied on Twitter, accusing the platform of “interfering in the 2020 Presidential Election” and insisting that “as president, I will not allow this to happen.” His 2020 campaign manager, Brad Parscale, said Twitter’s “clear political bias” had led the campaign to pull “all our advertising from Twitter months ago.” Twitter has banned all political advertising since last November.
Trump did not explain his threat Wednesday, and the call to expand regulation appeared to fly in the face of long-held conservative principles on deregulation.
But some Trump allies, who have alleged bias on the part of tech companies, have questioned whether platforms like Twitter and Facebook should continue to enjoy liability protections as “platforms” under federal law — or be treated more like publishers, which can face lawsuits over content.
The protections have been credited with allowing the unfettered growth of the internet for more than two decades, but now some Trump allies are advocating that social media companies face more scrutiny.
“Big tech gets a huge handout from the federal government," Republican Sen. Josh Hawley told Fox News. “They get this special immunity, this special immunity from suits and from liability that’s worth billions of dollars to them every year. Why are they getting subsidized by federal taxpayers to censor conservatives, to censor people critical of China?”
There was no immediate reaction from Twitter or other social media companies to the president's threats.
Stocks closed higher Tuesday with the S&P 500 and Nasdaq marking their best day since March. Tech stocks and chipmakers were on the move, lifting the Nasdaq higher as investors shake off recent COVID-19 omicron variant fears. Chris Konstantinos, Chief Investment Strategist at RiverFront Investment Group, joins Cheddar News' Closing Bell to discuss today's close, investor sentiment around COVID-19, inflation's impact on markets, and more.
Alyse Killeen, Founder & Managing Partner at Stillmark VC, joins Cheddar News' Closing Bell to discuss what the jury had to evaluate in the Craig Wright trial and if uncovering the identity of Bitcoin inventor Satoshi Nakamoto will actually impact crypto investors.
Heila Technologies, a startup that develops hardware and software to integrate renewables and batteries on a microgrid, is helping to power the first clean energy microgrid for Auto Mercado, a top supermarket chain in Costa Rica. The plant will reduce 20 tons of CO2 emissions per year. Heila Technologies CEO Francisco Morocz joins Cheddar Climate to discuss.
GitLab CFO Brian Robins joined Cheddar's "Closing Bell" to discuss the single platform software development app's first earnings report since going public in October. The company frames itself as a one-stop-shop for businesses to transition into software development to manage in-network chat, video conferencing, and meeting scheduling among other applications. GitLab saw Q3 revenue jump 58 percent and was able to add a number of new customers since its IPO.
Bitcoin had a tough last few days. In just a 24-hour period spanning early Friday morning to early Saturday morning, bitcoin's price went from about $57,000 to $47,000. Patrick McCconlogue, CEO of Overline, joins Cheddar News discuss bitcoin's plunge.
The leading gaming organization and lifestyle brand 100 Thieves just raised $60 million in new funding closing its Series C. This new round of funding has raised the valuation of the organization to about $460 million. John Robinson, president and COO of 100 Thieves, joins Cheddar News to talk about what's next for the company.
The Quorum and Cultique released a new study where moviegoers weighed in on their attitudes on going to the theater right now. Linda Ong, founder of Cultique, and David Herrin, founder and CEO of The Quorum, join Cheddar News to discuss what moviegoers need in order to head back to theaters.
The nation's largest vacation rental management company, Vacasa, made its public debut on the Nasdaq via a SPAC merger with TPG Pace Solutions. CEO Matt Roberts joined Cheddar to talk about the company's better-than-expected success and the plans to leverage its IPO to expand the business and refine Vacasa's tech. He noted that with five million second homes across the country, the company has much more room to grow as it currently has just 35,000 rental properties in 400 locations available. Roberts also said that there has been no impact on bookings due to the omicron variant of COVID-19.
Marvel's "Shang-Chi and the Legend of the Ten Rings" is gearing up for a sequel following its earlier this year topping the domestic box office to date. Destin Daniel Cretton will return to write and direct while also taking on additional projects in a multi-year deal.
Online platform Assemble is looking to provide career instruction and inspiration to Black, Indigenous, People of Color (BIPOC) of all age groups for access to industries they might not have been privy to prior. Actor, activist, and one of Assemble's three co-founders, Jesse Williams, and CEO Cortney Woodruff joined Cheddar's "Between Bells" to discuss the Assemble mission and what people can expect from the program. "There's a lot of jobs that folks don't know even exist in the first place, and what we know is that there are incredible innovators at the peak of their field that are Black and brown – in every single field," Williams noted.