Centralization is the Enemy of Property Rights. Bitcoin Tech Talk #247

Users are getting deplatformed. Banks are cutting off access to certain types of businesses. Accounts are getting frozen. Even entire applications are being kicked off of AWS, Apple App Store and so on. These are not good days if your views are contrary to the small window of allowable opinion and the ability of large companies to control the behavior of individuals seem to be greater than ever.

Why do big tech companies have so much power? Why are they in a position to de-platform whomever they want?

Social media platforms can censor users because they’re provided for free. Despite the End-User License Agreements that nobody reads, there’s no real contract there because in a sense, the users are the product. These platforms all make their money off of ads. Another way to think of these platforms is as giant honey pots to attract users so that their attention can be packaged and sold to advertisers.