Mr. Roger McNamee:

It is worse than that. If one thinks about it from the perspective of the social media companies, they would like to appear to be co-operative without going after the business model. When they put in place measures like moderation to try to capture things after the fact, the thing to understand is there is latency, that is, a lag between when content goes up and when moderators can take it down. Almost all the harm from this stuff happens very quickly. It is not just that they have no incentive to do it. They have no technological way to solve these problems. The scale is so great that moderation cannot work. The business model has to be changed.

To respond to the previous question because these matters are related, we must remember that these companies are not sitting still. The business model is migrating from advertising-based businesses to taking over the functions of liberal democracy.