Opinion / Politics

Twitter, Facebook: $51 Billion Combined Market Value Erased Since Trump Ban

twitterSocial media giants Facebook and Twitter have collectively seen $51.2 billion in combined market value wiped out over the last two trading sessions since they banned President Donald Trump from their platforms following the U.S. Capitol breach.

Large tech firms and a number of Democratic political figures have claimed Trump incited violence at the U.S. Capitol on Jan. 6. The incident disrupted debates in both the House and Senate as lawmakers were forced to shelter in place while police and security attempted to regain control.

Trump took to Twitter following the outbreak of violence to call on protesters to “go home in peace.” He denounced the violence as a “heinous attack” that “defiled the seat of American democracy” on Jan. 7. It is unclear who instigated the breach of the building.

Last week, Twitter first placed restrictions on a video the president posted, then temporarily suspended his account. Facebook followed suit shortly thereafter. Twitter two days later permanently suspended Trump’s account, saying it was due to two Twitter posts having violated its policies.

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 Jan. 11, 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 didn’t 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 such as 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.

Reprinted with Permission from - Epoch Times by - Isabel Van Brugen

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Kim
1 month ago

AMAC…I just went to the Menu and Advertise on the Map, but clicking areas of interest (Food, Home Improvement), and then Search, went nowhere…nothing came up!

I like the idea of patronizing, when possible, companies with similar political ideology as mine. Can you please enlarge the box where all the company names are listed? And are they grouped by state? Thanks.

andy hines
1 month ago

Didn’t even know your group existed until I received an unsolicited “free trial membership”. Sorry, but you don’t represent my values or political position. Bye, Felicia.

Kim
1 month ago
Reply to  andy hines

Stick around; you might learn something…such as why left-leaning policies will bankrupt the nation and you, how liberals rob you of your freedom and individuality, and a bunch of other reasons I don’t have the patience to list.

Gen
1 month ago

Wonderful, should drop much lower. I don’t look at the TV news, or late night supposedly comedians I want their profits to do the same!

Justis
1 month ago

I invite everyone to not spend money on big tech advertising, save your money and support conservative companies, hit big tech where it hurts.

Coop
1 month ago

Here is what my Senator said. . .

. . . Unfortunately, we have seen in recent years that many Big Tech platforms are arbitrarily censoring and blocking people and content they may not like, including conservative viewpoints and factual news articles.

     On October 29, 2020, the Senate Committee on Commerce, Science and Transportation held a hearing on Big Tech censorship with testimony from the CEOs of Google, Facebook and Twitter. These CEOs simply could not explain their reasoning for continually targeting and censoring conservatives, while allowing dangerous dictators, like Nicolas Maduro in Venezuela and General Secretary of the Chinese Communist Party Xi, to use their platforms to spread their lies and propaganda.

     Fundamental to our way of life is free speech, as protected by our Constitution. These companies are unfairly censoring their user’s speech, and are picking and choosing which viewpoints are allowed on their platform, with absolutely no recourse to the user if they are being unfairly targeted. I look forward to working with my colleagues in the Senate to hold these companies accountable and will always work to protect Americans’ fundamental rights. 

PaulE
1 month ago
Reply to  Coop

The last sentence of your Senator’s response roughly translates to “I look forward to working with my colleagues in the Senate to gold additional, meaningless hearings on the subject, where we will allow these companies to continue to do as they please as long as they continue to write big enough campaign donation checks to make us happy. We will always work to protect Americans’ fundamental rights, as along as those rights don’t conflict with our personal re-election efforts.”

Mark
1 month ago

I have canceled my facebook account don’t use google maps amazon is next. I am tired of these big companies telling me what I want

Ray Trevino
1 month ago

Closed Twitter, Instagram, Facebook, Prime account, switched to WeMe, Minds, Signal and Parler when it comes back up. I stopped using Utube, Google and use Rumble, Duck Duck Go now.
If 75 million Patriots do this we can bring them to their knees fast, we have all the power with our pocketbooks.

Lowell Grover
1 month ago
Reply to  Ray Trevino

I agree with Ray Trevino. I dropped Twitter and don’t really use the others mentioned. I use Yahoo for searching and hope they’re okay.

The Self Thinker
1 month ago
Reply to  Lowell Grover

Yahoo is under verizon control, which support leftist causes. They are biased and filter results in a leftist way, but have not made any overt moves. Please use duck duck go or another search engine, support the little guys trying to stay impartial at least.

Karen
1 month ago
Reply to  Ray Trevino

My husband and I have done the same thing! Hopefully more will follow suit!!

Disappointed in US Government
1 month ago
Reply to  Ray Trevino

Do your research, look who owns what companies, as you know monopolies had to take a different avenue. So the big companies buy the smaller ones but keep them as they are so they aren’t considered a monopoly. So T-Mobile that owns Sprint can influence what Sprint does, or Google can influence Utube. I have to look at Duck DuckGo now thought they were ok. I have started closing my accounts with others as most are doing now.

Judy
1 month ago

They need to lose even more money. The deserve to fall flat for their censorship of American citizens. I hope they go bankrupt for what they have done.

rick
1 month ago
Reply to  Judy

This is just the start of the downfall of these big tech companies. They are to dumb to even realize it. I won’t miss any of them!

Janet
1 month ago

These Big Tech companies should be shut down or split up like they did to Pacific Bell and AT&T a number of years ago along with PG&E and other companies. They are no different with monopolies and because they are acting as editors, Section 230 no longer applies to them and all lawsuits filed against them must be considered. It appears that they are being protected by the Liberal left and we know that they are also owned by Liberals as well. I hope that Parler will find a new web service so that the people can be heard and my heart goes out to the CEO who has had to go into hiding with his family due to the threats on his life. It is inexcusable and should anything happen to him, I believe a wrongful death lawsuit should be brought against these sites that have caused this to happen. I would be more than will to be a juror on that trial!

Mike Crane
1 month ago

I am planning to dump facebook. Never was on Twitter.

American Believer
1 month ago

Let’s pray there are indeed consequences for Big Tech, but then who will tell us if there is? ????

Edward McCloskey
1 month ago

They are already being penalized big time in the stock market! More penalties are on the way in the form of lawsuits and lost ad revenue as subscribers leave or just let their accounts sit there dormant (highly recommended). They pissed off 74 million Americans! I wouldn’t want to be in their shoes. Eventually there will be layoffs of employees in these evil companies!

Robert
1 month ago

Serves them Right …..

PatR
1 month ago
Reply to  Robert

Every time I see that headline, I smile. Indeed serves them right – there are consequences.

Editor
1 month ago

Hello,

AMAC is aware that your comments are not being posted to our site. Our technical team is working on the issue and hope to resolve it shortly. We apologize for any inconvenience.

Auldfard45
1 month ago
Reply to  Pam Smith

So the Big Tech conglomerate has closed you down as well, eh?

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