Stock markets are boring and annoying right now. Daily moves depend on utterances over interest rates and tariffs. Prices are manipulated. You are manipulated.
More than you know.
Which brings me to today’s topic: censorship.
It’s getting out of control. As in, insane. YouTube is silencing voices it doesn’t like. It just finished a massive purge of content creators.
Let’s start with the ‘official’, establishment line from the ‘venerable’ New York Times:
‘YouTube announced plans on Wednesday to remove thousands of videos and channels that advocate neo-Nazism, white supremacy and other bigoted ideologies in an attempt to clean up extremism and hate speech on its popular service.
‘The new policy will ban “videos alleging that a group is superior in order to justify discrimination, segregation or exclusion,” the company said in a blog post.’
The walking dead that read official news sources like the New York Times wouldn’t think twice about this statement. It seems fair enough, right?
But this is just the shiny policy veneer, the PR statement. The reality is much different.
This is a coordinated event to silence voices that don’t conform to YouTube’s leftist, ‘progressive’ (i.e. socialist) views.
Here’s what really happened…
A journalist for left leaning Vox Magazine, Carlos Maza, has been complaining to YouTube about treatment towards him from Steven Crowder, an independent comedian with his own YouTube channel.
The main complaint appears to be that Crowder constantly refers to him as a homosexual. The problem with that is that Maza himself runs with the Twitter handle @gaywonk.
YouTube responded to Maza’s repeated requests and social media campaigning by the outraged left, by demonetising Crowder’s YouTube channel, and, while they were at it, did the same to thousands of others.
They then no doubt sent PR statements to the corporate media like the New York Times, to spread the propaganda that they are clamping down on ‘hate speech’ and ‘Nazis’.
Do yourself a favour and watch this video by Crowder himself. It was recorded a few days before YouTube demonetised his platform. (Demonetising means the channel can no longer carry advertising, which means no revenue for Crowder.)
This decision occurred soon after YouTube initially decided to take no action. But the frenzied left kicked up a Twitter storm, and YouTube reversed its decision.
They’ve basically taken away Crowder’s livelihood for calling Maza gay, even though Maza refers to himself as gay. It’s insane.
But that’s really just a pretext. As Crowder points out, he attacked Vox’s ideas. That was his main target, not Maza’s homosexuality. Vox is backed by the media giant Comcast. Crowder is backed by 3.8 million subscribers to his channel, and makes money (or did make money) from advertising, and selling mugs.
He believes it’s simply a case of YouTube getting ‘strong armed’ by corporate interests. Independent media is far more popular than the establishment media. Decentralisation of opinions and content is death to those who wish to control the narrative.
What better way to stamp out independent voices than to do so under the guise of policing ‘hate speech’ and ‘Nazi lovers’.
The problem is that many unsuspecting content creators were caught up in the purge. As the Washington Examiner reports:
‘Taking cues from Maza’s online meltdown over conservative comedian Steven Crowder, the tech giant hasn’t just demonetized one guy. Mob rule dictates both dangerous and ineffective guidelines for censorship, and YouTube’s attempts to silence Crowder are the ones generating most of the headlines. But even worse than the video platform’s submission to Maza’s specific demand is its expansion of censorship by algorithm.
‘Sure, Crowder makes off color, unfunny, and, at times offensive jokes. But YouTube also purged multiple accounts that do absolutely nothing objectionable yesterday. YouTube banned “Mr Allsop History Clips,” a since-restored and purely educational channel that shared videos about historical events. It also started pulling down videos from Ford Fischer, an objective news journalist who covers white supremacists. Rational Disconnect also had a video debunking far-right propaganda pulled from the site.’
Tech giants acting as publishers
The broader problem here is that the left-leaning tech giants — whose technology acts as a platform for content of all types — are acting as publishers, not platform owners.
If you don’t think this is the case, have a read of this article from the National Review. Here’s a snippet:
‘Silicon Valley’s behemoth companies are incapable of steering through the cross-pressures pushing them to censor more. These pressures come from social activists working on them through threatened boycotts, it comes from activists among their own employees and on their boards. These pressures come from centrist and liberal-leaning governments, which increasingly blame social media companies for their electoral failures. And surely these pressures also come from corporations who want to buy advertising on these massive platforms.
‘Several stories from the last week highlight the sheer variety of these pressures. The health-and-exercise movement Crossfit has recently seen one of its diet-discussion groups suppressed on Facebook. And the group subsequently urged the withdrawal of its members from the platform in stark terms, effectively alleging that Facebook is part of a larger corruptive force in social life:
‘Facebook is acting in the service of food and beverage industry interests by deleting the accounts of communities that have identified the corrupted nutritional science responsible for unchecked global chronic disease. In this, it follows the practices of Wikipedia and other private platforms that host public content but retain the ability to remove or silence — without the opportunity for real debate or appeal — information and perspectives outside a narrow scope of belief or thought.’
Make no mistake, the social media giants are censoring ideas that their establishment paymasters don’t like. They are left wing, corporatist publishers, not independent owners of a publishing platform.
And if they are publishers, authorities should treat them very differently. Indeed, earlier this week the government announced plans to investigate market abuses by the big tech firms.
Judging by the chart of the FAANG stocks below (Facebook, Amazon, Apple, Netflix and Google) these companies are under pressure.
In fact, the chart looks quite ominous. The 2019 rally has run out of puff. Prices are not far from the 2019 low.
It looks like these stocks are heading into a bear market. As a result, I’d be wary of all things tech at this point. Sentiment could turn nasty, and price falls could get ugly.
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