What does this even mean:
"The companies also agreed to promote "independent counter-narratives" to fight hate speech, including content promoting non-discrimination, tolerance and respect."
Are they trying to stop ISIS or please offended snowflakes? Doing both is a heroic task which will leave millions disenfranchised. Will this open the market for new social media platforms?
It's still a bit vague, but it will give you a better idea. I think the focus is terrorism and outright racism more than offended snowflakes. From the release: "The European Court of Human Rights set out the important distinction between content that 'offends, shocks or disturbs the State or any sector of the population' and content that contains genuine and serious incitement to violence and hatred. The Court has made clear that States may sanction or prevent the latter."
People need to be told that their ideas are wrong, not given a new playground where everyone agrees with them. Kudos to Twitter for saying death threats and jihadism are wrong and not supported on their platform.