Just to be clear, I'm using a definition that I did not come up with on my own. Cancel culture doesn't have one definition. I linked a video where T1J kinda covers this. He's not a definitive source, but at least two people are confused by this definition.
Examples => I've got to google it. The best example I can think of was the lady who got on the flight and when she landed she didn't have a job. Her tweet was taken out of context, and while made in poor taste still.... kinda lame.
Other examples would be the google memo guy (kind of a reverse order firing iirc), the maga hat kid, the lady from brookfield zoo, and the manager at Chipotle off the top of my head.
Google some examples of this. Should you post stupid things to Facebook/Twitter? No you shouldn't. Should you get fired for it? I'd lean to the no side more than most people I'd guess. I think free speech is important, but companies have the right to fire people.
Is it the end of the world? In most mild cases, not so much. But there are some more extreme cases where there are much more long lasting effects to people. We don't typically hear about it unless the cancellation is something that was taken out of context and some people feel bad for the person being canceled. A lot of times it's just someone getting fired.