(AmericanProsperity.com) – One of the most beloved aspects of a free market is that people get to use their hard-earned money to show their support, or lack thereof, for businesses. Additionally, in our technological age, we can also use our data and time to influence a business. Big Tech felt the impact of that this week as Conservatives fled their platforms.
These Platforms Suspended the President & His Followers
Many social media companies joined Democrats in their claims of Trump encouraging the violence at the US Capitol on Wednesday, January 6. This was in spite of his condemnation of the violence many times.
On January 8, Twitter officially suspended President Donald Trump from its platform. Soon after, Facebook also suspended his account. The companies didn’t stop here. They purged or suspended multitudes of pro-Trump accounts, saying they violated company policies.
These two platforms are not the only ones to have kicked Trump off their platform:
The permanent Twitter suspension came a few hours after Reddit announced it was taking down the massively popular subreddit r/Donaldtrump. Other social platforms that have gone after Trump accounts in the days following the attack on the Capitol:
— NowThis (@nowthisnews) January 9, 2021
While these companies may be giving some users no choice in their departure, many others make the conscious decision to leave the platforms. This, in turn, leaves Big Tech with less data to sell and less ad revenue to make. Consequently, they’re feeling the effects of the free market lowering their profit margin.
Major Tech Platforms Loses Big as Users Leave
Twitter and Facebook together lost $51.2 billion in market value in recent days as users left the platforms after they banned President Donald Trump. Former diplomat Yasir Mahmood details more of the monetary ripple effect:
Facebook and Twitter have collectively seen $51.2 billion erased from their market caps over the last two trading sessions as investors balk at their banning of President Trump.
FB saw $47.6 billion erased from its public valuation, while Twitter's market cap dropped by $3.5b.
— Yasir Mahmood (@MofaYasir) January 13, 2021
What Are We to Do About It?
The freedoms that many Americans have fought hard to protect include that of choosing where our money goes and what products we want. A unified demonstration from many Conservatives has shown major media platforms just how much money they could lose if they continue to censor free speech.
~Here’s to Your Prosperity!
Copyright 2021, AmericanProsperity.com
