Meta Platforms (META) CEO Mark Zuckerberg has revealed that Facebook faced significant pressure from the U.S. government to censor content related to COVID-19 during the pandemic. While the social media platform complied with the government’s demands at that time, it is a decision he now regrets.
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Zuckerberg’s Letter to the U.S. Judiciary Committee
In light of this, Zuckerberg detailed his reflections in a letter to the U.S. House Judiciary Committee. He explained that in 2021, senior officials from the Biden Administration, including those from the White House, repeatedly urged Facebook to remove certain COVID-19 content. This content included posts that were humorous or satirical in nature. Although Meta ultimately made the decision to take down such content, Zuckerberg acknowledged that the government’s pressure was inappropriate. He also regrets that the company did not speak out more strongly against it.
As a result of these reflections, and with the U.S. presidential election drawing near, Zuckerberg is keen to maintain a neutral stance. He emphasized his intention not to influence the election in any way, stating, “My goal is to be neutral and not play a role one way or another — or even appear to be playing a role.
Facebook Removed 20 Million Content Posts During the Pandemic
In addition, Facebook’s content moderation during the pandemic faced criticism from opponents of lockdowns, vaccines, and mask mandates. The social media giant removed posts it deemed as misinformation or violations of its policies. In total, the platform removed over 20 million pieces of content in just over a year.
Social Media Companies Regret Content Moderation
Zuckerberg’s recent statements echo similar sentiments from other social media founders, such as former Twitter CEO Jack Dorsey, who have expressed regret over past content moderation actions that may have gone too far.
This regret comes amidst a growing debate over the extent to which social media companies should police user content. While some platforms advocate for minimal interference, arguing that too much regulation can stifle free expression, certain governments contend that a hands-off approach might enable harmful behaviors and misinformation.
As social media companies navigate these complex issues and adjust their content moderation policies, investors might consider exploring opportunities in social media stocks. Investors can use the TipRanks Stock Comparison tool to determine which social media stock best suits their needs.
Is Meta a Good Stock to Buy?
Analysts remain bullish about META stock, with a Strong Buy consensus rating based on 39 Buys, three Holds, and one Sell. Over the past year, META has surged by more than 70%, and the average META price target of $582.38 implies an upside potential of 11.8% from current levels.
