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There's plenty of people who didn't do anything wrong getting demonetized and deplatformed.

Could be someone else (who's more "important") didn't like them or just an algorithm problem.

They often have no recourse, and the government tells them "well, it's a private platform, we can't do anything".

Not any more there isn't.

Extra rights for politicians should not be a principle in a democratic society.

Silencing politicians is the same as silencing their constituents

I agree with this. That's how representative democracy works.

I completely agree with you on this point, however the alternative should not be 'everyone is at the mercy of the management of private companies'.

There should be a due process (and recourse) at the very least for public figures, and this should not be held privately by corporations but in front of a court.