On CNBC’s “Power Lunch,” Tony Romm of The Washington Post said Wednesday's hearing in regards to Section 230 was such a political and partisan affair that he doesn’t believe most investors really think any of the exchanges are going to lead to any immediate regulation or immediate threats for the companies.
Twitter TWTR, Facebook FB and Google GOOGGOOGL have been under fire by President Trump and others on allegations of unfairly censoring political media.
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The reason for the hearing was to discuss federal laws that spare tech companies from being held liable regarding the content they allow or takedown. Some lawmakers would like to see those laws amended.
“All that came of today was a fight between Democrats and Republicans over allegations of conservative bias, which many experts say isn't real,” said Romm.
He went on to say it’s certainly the case that the events that unfolded on Capitol Hill may not translate to any immediate action.
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