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.

Share:
More In Business
Sustainable Shoemaker Allbirds Goes Public on the Nasdaq
Sustainable footwear and apparel company Allbirds made its public debut on the Nasdaq on Wednesday, and CFO Mike Bufano joined Cheddar's "Between Bells" to discuss the IPO and the company's $3.3 billion valuation. Bufano attributed its recent success to product offerings and expanded brick and mortar locations. "There's lower returns when people go to a store and then there's no outbound shipping when people go to a store as well. So, the stores are both great brand beacons, they're profitable in and of themselves, and they help the overall margin profile of the business," he said.
Avis Stock Surges as Company Looks to EV Market
Avis stock surged more than 200 percent on October 2 after the company reported better-than-expected earnings. The move comes as Avis also looks to get involved in the EV industry and Elon Musk clouded the issue over Tesla's contract with Hertz. Joel Hawthorne, head trader and CEO of the Morning Snapshot, gave Cheddar his insight into what's happening for the rental car company on Wall Street.
Salesforce Expects Holiday Shoppers to Pay 20 Percent More, Digital Sales to Boom
Rob Garf, VP of industry strategy and insights at Salesforce, joined Cheddar's "Opening Bell" to talk about the rising cost of goods this holiday season noting shoppers will be paying 20 percent more than the previous year. He explained that while consumers will be willing to spend more on gifts, they will likely purchase fewer items and visit fewer stores. Garf also said he expects the pandemic norm of online shopping to continue its growth during the holidays.
Nike and Dick's Sporting Goods Team Up on Loyalty Program
Nike and Dick's Sporting Goods announced an integration of their loyalty programs that will allow customers to shop for exclusive Nike branded apparel on the Dick's Sporting Goods platform. Customers will also be able to make returns at its retail locations even if shoes were purchased directly from Nike.
Activision Blizzard Reports Solid Q3 Earnings but Grim Q4 Outlook Worries Investors
John Freeman, VP of equity research at CFRA Research, joined Cheddar to break down factors weighing on video game publisher Activision Blizzard as it deals with the fallout from delayed releases and sexual harassment scandals. While not great for business, Freeman also questioned if the issues of the toxic corporate culture could have had an impact on title delays as well.
How Augmenting Human Experiences Impacts Businesses
Steven Salz, Co-Founder & CEO of Rivalry, joins Cheddar News to break down how the metaverse plays into Internet culture, how augmenting human experiences impacts businesses, and how 5G technology plays into making it all possible.
Load More