Earlier quoted context omitted.
The likes of YouTube will be affected the least. They already have aggressive copyright enforcement measures in place, and they can afford to do that. Smaller, more independent platforms will not be able to afford to implement compliance with these new regulations, and will potentially be driven out of business.
Yes, the Googles and Facebooks of the future will be affected the most. This is consolidation of power, finally locking down the Free Internet just as we've done with every other industry. Stripping the power to change from the small. And what are we doing about it?
Make our own content and host it ourselves?
This type of law is only effective due to centralisation of Internet services. If everyone self-hosted and was accountable for their own content there would be no scope for such legislation. All HN would hold would be linked-lists of URLs, no actual comment content.
Imagine a decentralised, federated HN where each comment originated from its owner's site.