For example, if two US citizens on US soil discuss insider trading of an Australian company that does not even do business in the US using trades on US brokers, those two individuals are in violation of the Australian Corporations Act and can be criminally prosecuted (by Australian authorities). Why? Because Australia claims jurisdiction over any Australian company.
Likewise, "sex tourism" with children in South East Asia is rampant and many countries are unwilling or unable to prosecute. Australia has deemed having sex with an underage person in a foreign country is likewise a crime in Australia that they can and do prosecute.
The US is able to to exercise a lot of power with international banks because they have the power to remove a financial institution's access to the US banking system. It's this stick that allowed the IRS to go after Swiss banks for complicity in US citizens evading US taxes.
Unless of course any company whose viability materially depends on Section 230 protections would have been dead in the water pretty much in any other jurisdiction on earth in the first place, the threat of moving out of the US was a naked bluff and the powers that be realized it.
If companies are willing to put up with the Chinese government telling them what to do, what to say, and how to operate their business in China, I'm pretty sure America will be fine.
If the EU's laws are so burdensome, why is there a thriving startup ecosystem in the EU? I have read about EU's stances on hate speech, defamation, and libel (though I wouldn't call that hobby reading research), and I am fine with their stances.
I think we could use more hate speech protection, when I see reports that as much as 60% of the tweets in the current U.S. political conversations are done by biased bots.
And no, I am firmly against EARN IT and the other 230 attacks. We need internet legislation that is thoughtful, created by technical SME staffers and constitutional law SME staffers, not broad-brush legislation pandering to votes, FUD, or special interests.
There is nothing particularly thriving about it. There are just a lot of them because it costs almost nothing to incorporate a company and 'startup' sounds cooler than a 'small consulting business' or a 'software house'.
Can you name many EU startups that IPOd or got acquired for an impressive amount during the last decade or were even considered "unicorns" at any point by anyone other than themselves ?
In any case, Section 230 isn't about startups per se but specifically about 3rd party content providers - know any such companies that are EU-based ?
> I think we could use more hate speech protection, when I see reports that as much as 60% of the tweets in the current U.S. political conversations are done by biased bots.
Have you considered the possibility of those reports being disseminated by biased bots ?
> And no, I am firmly against EARN IT and the other 230 attacks. We need internet legislation that is thoughtful, created by technical SME staffers and constitutional law SME staffers, not broad-brush legislation pandering to votes, FUD, or special interests.
You sound confused. How do you expect those hate speech protections to materialize if not by modifying or cancelling Section 230 ? I mean there's always the option of cancelling the 1st amendment - no one seems to like that pesky thing anyway today.
You mean besides companies like Spotify, Rovio (Angry Birds) or Mojang (Minecraft)?
You place a lot of value in unicorns, but there are downsides to shooting to be a unicorn too. If you make it there you may be fabulously wealthy, but you'll have so much investment that most lose control of what they created and many succumb to bad investments that have so much dilution the cap table becomes upside down. Also most who aim for unicorn status ("I want to be rich!") fail. I'm ignoring bubbles, because if you have something that has no real contribution but rides/sparks a fad, then you can still get a lot of investment during a bubble - don't know if you could get to unicorn status though.
As for those companies not being capable of being platforms for hate speech: Minecraft obviously, Spotify is music so that should be a clear possibility, Telegram is messaging so that is also a possible. The ones that are financial apps are unlikely hate speech platforms, unless they allow comments or reviews.
In Addition to what sobani said:
HelloFresh, Transferwise, N26, Revolut, Telegram (if you stretch the meaning of Europe), Klarna, Auto1 Group to name a few
Of course not all of them operate globally but that isn't a requirement
I don't know the specifics of Swiss legal system in that regard but the fact that nothing similar ever came out of there probably says something.