U.S. President Donald Trump, the historically prolific tweeter of political barbs and blasts, threatened social media companies with new regulation or even shuttering on Wednesday after Twitter added fact checks to two of his tweets. He turned to his Twitter account — where else? — to tweet his threats.
The president can’t unilaterally regulate or close the companies, and any effort would likely require action by Congress. His administration has shelved a proposed executive order empowering the Federal Communications Commission to regulate technology companies, citing concerns it wouldn’t pass legal muster. But that didn’t stop Trump from angrily issuing strong warnings.
Tech giants “silence conservative voices,” he claimed on Twitter early Wednesday. “We will strongly regulate, or close them down, before we can ever allow this to happen.” Later, also on Twitter, he threatened, “Big Action to follow.” And in one more late-night tweet, he said “Big Tech” was “going absolutely CRAZY. Stay Tuned!!!”
Press secretary Kayleigh McEnany told reporters Trump would sign an executive order relating to social media companies but provided no further details. White House strategic communications director Alyssa Farah said Trump would sign it Thursday.
In his tweet, he repeated his unsubstantiated claim — which sparked his latest showdown with Silicon Valley — that expanding mail-in voting “would be a free for all on cheating, forgery and the theft of Ballots.”
Late Wednesday, Twitter CEO Jack Dorsey tweeted, “We’ll continue to point out incorrect or disputed information about elections globally.”
Dorsey added: “This does not make us an ‘arbiter of truth.’ Our intention is to connect the dots of conflicting statements and show the information in dispute so people can judge for themselves.”
Twitter’s decision to mark the president’s tweets regarding mail-in balloting came as the president was sparking another social media firestorm, continuing to stoke a debunked conspiracy theory accusing MSNBC host Joe Scarborough of killing a former staffer. Prominent Republicans, including Rep. Liz Cheney and Sen. Mitt Romney, urged Trump to drop the attack — which has not been marked with a fact check by the social media company.
Trump and his campaign had lashed out at the company Tuesday after Twitter added a warning phrase to two Trump tweets that called mail-in ballots “fraudulent” and predicted that “mail boxes will be robbed,” among other things. Under the tweets, there is now a link reading “Get the facts about mail-in ballots” that guides users to a Twitter “moments” page with fact checks and news stories about Trump’s unsubstantiated claims.
Trump replied on Twitter, accusing the platform of “interfering in the 2020 Presidential Election” and insisting that “as president, I will not allow this to happen.” His 2020 campaign manager, Brad Parscale, said Twitter’s “clear political bias” had led the campaign to pull “all our advertising from Twitter months ago.” Twitter has banned all political advertising since last November.
Trump did not explain his threat Wednesday, and the call to expand regulation appeared to fly in the face of long-held conservative principles on deregulation.
Trump and his allies have long accused the tech giants in liberal-leaning Silicon Valley of targeting conservatives on social media by fact-checking them or removing their posts. The president’s critics, meanwhile, have scolded the platforms for allowing him to put forth false or misleading information that could confuse voters.
Some Trump allies have questioned whether platforms like Twitter and Facebook should continue to enjoy liability protections as “platforms” under federal law — or be treated more like publishers, which can face lawsuits over content.
The protections have been credited with allowing the unfettered growth of the internet for more than two decades, but now some Trump allies are advocating that social media companies face more scrutiny.
“Big tech gets a huge handout from the federal government,” Republican Sen. Josh Hawley told Fox News. “They get this special immunity, this special immunity from suits and from liability that’s worth billions of dollars to them every year. Why are they getting subsidized by federal taxpayers to censor conservatives, to censor people critical of China?”
Twitter’s first-ever use of a label on Trump’s tweets comes as platforms gear up to combat misinformation around the U.S. presidential election. Twitter and Facebook have begun rolling out dozens of new rules to avoid a repeat of the false postings about the candidates and the voting process that marred the 2016 election.
The advent of the coronavirus pandemic has further escalated the platforms’ response, leading them to take actions against politicians — a move they’ve long resisted — who make misleading claims about the virus.
Last month, Twitter began a “Get the Facts” label to direct social media users to news articles from trusted outlets next to tweets containing misleading or disputed information about the virus. Company leaders said at the time that the new labels could be applied to anyone on Twitter, and that it was considering using them on other topics.
Twitter has said it will decide internally when to use a label, and on which tweets, and it will draw from information curated from news outlets.
Facebook CEO Mark Zuckerberg weighed in on the matter during a Fox News interview Wednesday. “We have a different policy, I think, than Twitter on this,” he said. “I just believe strongly that Facebook shouldn’t be the arbiter of truth of everything that people say online.”
Meanwhile, Republicans were turning their fire on one of the Twitter executives responsible for adding the fact checks: Yoel Roth, its head of site integrity. They are pointing to tweets he sent in 2016 and 2017 railing against the president and his allies.
“From their bogus ‘fact check’ of @realDonaldTrump to their ‘head of site integrity’ displaying his clear hatred towards Republicans, Twitter’s blatant bias has gone too far,” tweeted Republican National Chairman Chair Ronna McDaniel.
Jack Balkin, a Yale University law professor and First Amendment expert, said any attempt to regulate social media companies for the content on their sites would likely need congressional input and approval — and probably face strong legal challenges.
“The president can’t do very much, but that’s not the point,” he said. “This is an attempt by the president to, as we used to say in basketball, work the refs.”
“He’s threatening and cajoling with the idea that these folks in their corporate board rooms will think twice about what they’re doing, so they won’t touch him.”
AP writers Amanda Seitz and David Klepper contributed.
© 2020 The Canadian Press
The Official Loch Ness Monster Sightings Register sent the photo to one of their experts ‘who said that it was “compelling evidence” ‘ of the creature
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Published Apr 24, 2024 • Last updated 3 hours ago • 3 minute read
LONDON — Parry Malm and Shannon Wiseman weren’t expecting a “pivotal moment” in their sons’ lives when they visited Scotland’s Loch Ness earlier this month, but that’s exactly what happened.
“Our youngest is turning three next week,” said Wiseman from the family’s home in London, England. “And he tells everyone there have been two pivotal moments in his life: Seeing the world’s largest dinosaur, which he did at the Natural History Museum in January, and seeing Nessie.
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“He tells everyone he encounters. He tells the postman, he tells the guys in the shops and the cafes.”
Malm and Wiseman have been thrust into the limelight after a photo they took during their family vacation showed a shadowy figure poking above the waterline, something that the couple’s children _ and others — firmly believe is the latest sighting of the famed Loch Ness monster.
Malm and Wiseman, who are from Coquitlam B.C., and Calgary respectively, moved to England in 2006.
The couple said the original plan for the spring vacation was to take a boat ride in Loch Ness because their children were “completely captivated by the concept of Nessie.”
“We’d even packed shortbread cookies, which we were told from these books was Nessie’s favourite treat,” Wiseman quipped. “Turned out shortbread cookies were not necessary.”
That’s because the family spotted something sticking out of the water while visiting a lookout at nearby Urquhart Castle.
“We just started watching it more and more, and we could see its head craning above water,” Malm said. “And then it was swimming against the current towards the castle, slowly but surely, like very fastidiously going over the waves (and) coming closer and closer. And then it submerged and disappeared.”
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Malm said the family took a photo of what they saw and decided “for a bit of a laugh” to send the picture to the Official Loch Ness Monster Sightings Register, which he stumbled upon while surfing the internet.
“They got in touch within 24 hours,” Malm recalled. “They were super excited. They sent it to one of their Loch Ness experts who said that it was ‘compelling evidence,’ I believe was the exact phrase.
“And just one thing led to another. I mean, it’s been incredible.”
Since the photo submission, Malm and Wiseman have been featured in British tabloids such as The Sun and the Daily Mirror and digital publication LADbible.
On the Official Loch Ness Monster Sightings Register, the encounter has been recorded as the first Nessie sighting of 2024.
“We’ve both got texts from people who we haven’t heard from in quite some time going, ‘Guess who I just saw on TV?”‘ Malm said.
“I’m just glad that we hit the national media in Canada for spotting the Loch Ness monster and not being on Crime Stoppers.”
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Both Malm and Wiseman said they are happy their experience is bringing some positivity to the daily news cycle, and at least one person they have spoken with thanked them for the picture.
“Our son’s school’s headmaster is Scottish,” Malm said. “And he pulls me aside at pick up one day and he goes, ‘You know what, Perry? You’ve done more for Scottish tourism than anybody else in my lifetime.’
“So, hopefully some people will be inspired to come visit Scotland.”
What isn’t certain, however, is what they actually encountered on that cold April morning on the shore of Loch Ness.
“We don’t know what we saw,” Wiseman said. “Our children believe we saw Nessie, and I believe it for them.
“I believe that we saw something that could be Nessie, and that is a very broad possibility.”
Malm said the wonder that the sighting has inspired in his children, and others resonating with the photo, is more important than the question of what they encountered.
“It’s really charming,” he said of the outpouring of reactions. “Because in a world where the news is about a war here and an atrocity there, it’s just nice that people are interested in something that’s just lighthearted, a little bit silly and a little bit unbelievable.”
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The British Columbia government is putting its proposed online harms legislation on hold after reaching an agreement with some of the largest social media platforms to increase safety online.
Premier David Eby says in a joint statement with representatives of the firms Meta, TikTok, X and Snapchat that they will form an online safety action table, where they’ll discuss “tangible steps” toward protecting people from online harms.
Eby added the proposed legislation remains, and the province will reactivate it into law if necessary.
“The agreement that we’ve struck with these companies is that we’re going to move quickly and effectively, and that we need meaningful results before the end of the term of this government, so that if it’s necessary for us to bring the bill back then we will,” Eby said Tuesday.
The province says the social media companies have agreed to work collaboratively with the province on preventing harm, while Meta will also commit to working with B.C.’s emergency management officials to help amplify official information during natural disasters and other events.
The announcement to put the Bill 12, also known as the Public Health Accountability and Cost Recovery Act, on hold is a sharp turn for the government, after Eby announced in March that social media companies were among the “wrongdoers” that would pay for health-related costs linked to their platforms.
At the time, Eby compared social media harms to those caused by tobacco and opioids, saying the legislation was similar to previous laws that allowed the province to sue companies selling those products.
Eby said one of the key drivers for legislation targeting online harm was the death of Carson Cleland, the 12-year-old Prince George, B.C., boy who died by suicide last October after falling victim to online sextortion.
“In the real world we would never allow a company to set up a space for kids where grown adults could be invited in to contact them, encourage them to share photographs and then threaten to distribute those photographs to their family and friends,” Eby said when announcing the legislation.
The premier said previously that companies would be shut down and their owners would face jail terms if their products were connected to harms to young people.
In announcing the pause, the province says that bringing social media companies to the table for discussion achieves the same purpose of protecting youth from online harm.
“Our commitment to every parent is that we will do everything we can to keep their families safe online and in our communities,” said Eby.
Ryan Cleland, Carson’s father, said in a statement on Tuesday that he “has faith” in Eby and the decision to suspend the legislation.
“I don’t think he is looking at it from a political standpoint as much as he is looking at it as a dad,” he said of Eby. “I think getting the social media giants together to come up with a solution is a step in the right direction.”
On Monday, the opposition B.C. United called for a pause to Bill 12, citing potential “serious legal and economic consequences for local businesses.”
Opposition Leader Kevin Falcon said in a statement that his party pushed Eby’s government to change course, noting the legislation’s vague language on who the province can sue “would have had severe unintended consequences” for local businesses and the economy.
“The government’s latest retreat is not only a win for the business community but for every British Columbian who values fairness and clarity in the law,” Falcon said.
The Greater Vancouver Board of Trade said they are pleased to see the legislation put on hold, given the “potential ramifications” of the proposal’s “expansive interpretation.”
“We hope that the government chooses not to pursue Bill 12 in the future,” said board president and CEO Bridgitte Anderson in a statement. “Instead, we would welcome the opportunity to work with the government to develop measures that are well-targeted and effective, ensuring they protect British Columbians without causing unintended consequences.”
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Donald Trump is set to secure on Tuesday a stock bonus worth US$1.3-billion from the company that operates his social media app Truth Social (DJT-Q), equivalent to about half the majority stake he already owns in it, thanks to the wild rally in its shares.
The award will take the former U.S. president’s overall stake in the company, Trump Media & Technology Group (TMTG), to US$4.1-billion.
While Mr. Trump has agreed not to sell any of his TMTG shares before September, the windfall represents a significant boost to his wealth, which Forbes pegs at US$4.7-billion.
Unlike much of his real estate empire, shares are easy to divest in the stock market and could come in handy as Mr. Trump’s legal fees and fines pile up, including a US$454.2-million judgment in his New York civil fraud case he is appealing.
The bonus also reflects the exuberant trading in TMTG’s shares, which have been on a roller coaster ride since the company listed on Nasdaq last month through a merger with a special purpose acquisition company (SPAC) and was snapped up by Trump supporters and speculators.
Mr. Trump will be entitled to the stock bonus under the terms of the SPAC deal once TMTG’s shares stay above US$17.50 for 20 trading days after the company’s March 26 listing. They ended trading on Monday at US$35.50, and they would have to lose more than half their value on Tuesday for Mr. Trump to miss out.
TMTG’s current valuation of approximately US$5-billion is equivalent to about 1,220 times the loss-making company’s revenue in 2023 of US$4.1-million.
No other U.S. company of similar market capitalization has such a high valuation multiple, LSEG data shows. This is despite TMTG warning investors in regulatory filings that its operational losses raise “substantial doubt” about its ability to remain in business.
A TMTG spokesperson declined to comment on the stock award to Mr. Trump. “With more than $200 million in the bank and zero debt, Trump Media is fulfilling all its obligations related to the merger and rapidly moving forward with its business plan,” the spokesperson said.
While Mr. Trump’s windfall is rich for a small, loss-making company like TMTG, the earnout structure that allows it is common. According to a report from law firm Freshfields Bruckhaus Deringer, stock earnouts for management were seen in more than half the SPAC mergers completed in 2022.
However, few executives clinch these earnout bonuses because many SPAC deals end up performing poorly in the stock market, said Freshfields securities lawyer Michael Levitt. TMTG’s case is rare because its shares are trading decoupled from its business prospects.
“Many earnouts in SPACs are never satisfied because many SPAC prices fall significantly after the merger is completed,” Mr. Levitt said.
To be sure, TMTG made it easier for Mr. Trump to meet the earnout threshold. When TMTG agreed to merge with the SPAC in October, 2021, the deal envisioned that TMTG shares had to trade above US$30 for Mr. Trump to get the full earnout bonus. The two sides amended the deal in August, 2023 to lower that threshold to US$17.50, regulatory filings show.
Had that not happened, Mr. Trump would not have yet earned the full bonus because TMTG’s shares traded below US$30 last week. The terms of the deal, however, give Mr. Trump three years from the listing to win the full earnout, so he could have still earned it if the shares traded above the threshold for 20 days in any 30-day period during this time.
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