As Big Tech cracks down on moderation after the Capitol attack and Wall Street braces for more fallout from social media's newfound influence on stock trading, legislators are eyeing changes to Section 230 of the Communications Decency Act of 1996. On Wednesday, February 10, dot.LA brought together legal perspectives and the views of a founder and venture capitalist on the ramifications of changing the way that social media and other internet companies deal with the content posted on their platforms.

A critic of Big Tech moderation, Craft Ventures General Partner and former COO of PayPal David Sacks called for an amendment of the law during dot.LA's Strategy Session Wednesday. Tyler Newby and Andrew Klungness, both partners at law firm Fenwick, laid out the potential legal implications of changing the law.

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Social media companies are under fire. In the wake of the pandemic and the presidential election, users on all sides of the political spectrum are calling upon them to take a more active role in online content moderation. The January 6 attack on the Capitol, largely organized on social platforms, brought a moment of reckoning to these companies. Lawmakers and users alike are now considering how social media moderation might be legislated going forward.

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Democratic lawmakers are calling on Facebook, Twitter and other social media to alter the powerful algorithms that fuel their site, saying that they led to the attack on the Capitol and intensify fringe political beliefs.

"The algorithms Facebook uses to maximize user engagement on its platform undermine our shared sense of objective reality, intensify fringe political beliefs, facilitate connections between extremist users, and, tragically, lead some of them to commit real-world physical violence, such as what we experienced firsthand on January 6th," wrote Silicon Valley Congresswoman Anna Eshoo and New Jersey Congressman Tom Malinowski in a letter to Facebook CEO Mark Zuckerberg.

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