Earlier quoted context omitted.
That's a point of view, and a pretty cynical one. I would like to point out that regarding moderation, tech companies have been asking for guidelines and new laws for a decade now. Ageing lawmakers have been unable to provide them and we start to see shy initiatives from the EU regarding privacy laws but roughly most of the water in which tech companies operate are still no mans lands. All that make me think that eve…
Aren't these glamorous tech companies supposed to be employing from the pool of the highest echelons of intellectualism? How is it that they have such exceedingly large valuations but they can't manage to deploy a rationale by which to manage their user-based content?
If one company takes a more principled approach to moderation, and that more principled approach is harmful to revenue, that company will be outcompeted by companies with whatever moderation policies optimize for engagement / revenue / growth. As a result, in the absence of legislation, you get adverse selection i.e. the dominant platforms will be the ones that optimize for engagement/revenue/growth, rather than the ones with good moderation policies.
If you instead have legislation for what "good moderation" looks like, it applies equally to all companies and mitigates the adverse selection problem.
Of course, it is still entirely possible for bad legislation to introduce worse problems than the adverse selection problem. It depends on the object level of what exactly the legislation is, rather than being a blanket "legislation bad" or "legislation good" sort of thing.