Skip to Main Content.
Site navigation
Fidelity.com Home
  • Customer Service
  • Profile
  • Open an Account
  • Refer a Friend
  • Log In
  • Customer Service
  • Profile
  • Open an Account
  • Refer a Friend
  • Log Out
  • Accounts & Trade
    • Portfolio Log In Required
    • Portfolio
    • AccountPositions Log In Required
    • AccountPositions
    • Trade Log In Required
    • Trade
    • Active Trader Pro
    • Transfers
    • Cash Management Log In Required
    • Cash Management
    • BillPay Log In Required
    • BillPay
    • Full View Log In Required
    • Full View
    • Security Settings Log In Required
    • Security Settings
    • Account Features Log In Required
    • Account Features
    • Statements Log In Required
    • Statements
    • Tax Forms & Information
    • Retirement DistributionsLog In Required
    • Fidelity Rewards+Log In Required
    • New Account ChecklistLog In Required
  • Planning & Advice
    • What We Offer
    • My Goals
    • Financial Basics
    • Building Savings
    • Robo Investing Plus Financial Advice
    • Wealth Management
    • Find an advisor
    • Retirement
    • Life Events
  • News & Research
    • News
    • Watch List Log In Required
    • Quotes
    • Quotes
    • Alerts Log In Required
    • Mutual Funds
    • Stocks
    • Fixed Income, Bonds & CDs
    • ETFs
    • Options
    • Markets & Sectors
    • IPOs
    • Annuities
    • Learning Center
    • Notebook
    • Notebook
  • Investment Products
    • Mutual Funds
    • Retirement & IRAs
    • Trading
    • Stocks
    • Fixed Income, Bonds & CDs
    • ETFs
    • Options
    • Sector Investing
    • Cash Management & Credit Cards
    • Managed Accounts
    • 529 College Savings
    • Health Savings Account
    • Annuities
    • Life Insurance & Long Term Care
    • Charitable Giving
  • Why Fidelity
    • The Fidelity Advantage
    • Planning & Advice
    • Trading
    • Straightforward Pricing
    • Insights & Tools
    • Security & Protection
    • About Fidelity
    • Careers
  • Customer Service
  • Profile
  • Open an Account
  • Refer a Friend
  • Log In
  • Customer Service
  • Profile
  • Open an Account
  • Refer a Friend
  • Log Out
Content and data provided by various third parties and Fidelity − Terms of Use
  • Research >
  • Stocks >
  • News & Events >

Stock Details


Find Symbol. Opens in new window.
  • Snapshot
  • Detailed Quote
  • Advanced Chart &
    Technical Analysis Opens in New Window
  • News & Events
  • Compare
  • Analyst Opinions
  • Research Reports
  • Key Statistics
  • Earnings
  • Dividends
  • Ownership & Insiders
  • Financial Statements
  • SEC Filings

RELATED RESOURCES

  • Stock Research Overview
  • Stock Screeners
  • Markets & Sectors
  • Fidelity Learning Center Opens in New Window
Print Format
Change Text Size:
  • Default text sizeA
  • Larger text sizeA
  • Largest text sizeA

Investors push for social media controls ahead of U.S. inauguration

BY Reuters
— 6:03 AM ET 01/15/2021

By Ross Kerber

BOSTON (Reuters) - Pension fund managers and religious investors on Friday asked top social media companies to step up their content control efforts to reduce the threat of violence ahead of the inauguration of U.S. President-elect Joe Biden next week.

The effort is the latest pressure on Facebook Inc (FB), Twitter Inc (TWTR) and Alphabet Inc (GOOG) over extreme rhetoric after the storming of the U.S. Capitol last week by supporters of President Donald Trump.

In letters sent on Thursday, the investors - including New York State Comptroller Thomas DiNapoli, the Service Employees International Union and the Unitarian Universalist Association - asked for steps including disabling the coding they said tends to elevate conspiracy theories and radicalizing content, and for the companies to continue to flag content with hashtags like #Stopthesteal.

In the longer run, boards and executives must review their "business model and reliance on algorithmic decision making, which has been linked to the spread of hate and disinformation online," the letters said.

Alphabet representatives did not respond to questions. A Facebook (FB) spokesman said it has banned over 250 white supremacist groups and enforced rules like those barring militias from organizing on its platform. A Twitter representative cited actions it has taken like suspending accounts that mainly shared QAnon content.

Violent rhetoric on social media platforms has ramped up in recent weeks as groups planned openly for the gathering in Washington, according to researchers and public postings, prompting criticism of the companies for failing to take action in advance.

Twitter and Facebook (FB) banned Trump's accounts last week as the tech giants scrambled to crack down on Trump's baseless claims of fraud in the U.S. presidential election.

The activist investors together manage about $390 billion in assets but own relatively small stakes in the social media companies. Top shareholders in the space so far have declined to comment on their responses including BlackRock Inc Vanguard Group Inc and Morgan Stanley.

The bans on Trump have prompted concern among other investors that users and advertisers would leave for different platforms. Twitter CEO Jack Dorsey said the decision was correct but set a dangerous precedent. Facebook (FB) operations chief Sheryl Sandberg has said the company has no plans to lift its ban.

(Reporting by Ross Kerber; Editing by Cynthia Osterman and Raju Gopalakrishnan)

Copyright © Reuters 2008. All rights reserved. Republication or redistribution of Reuters content, including by caching, framing or similar means, is expressly prohibited without the prior written consent of Reuters. Reuters and the Reuters sphere logo are registered trademarks and trademarks of the Reuters group of companies around the world.

More TWTR News

  • Twitter says White House Twitter accounts will be transferred to Biden admin
    Reuters - 10:07 PM ET 01/14/2021
  • Parler urges U.S. judge to order Amazon to restore its platform
    Reuters - 7:40 PM ET 01/14/2021
  • Parler urges U.S. judge to order Amazon to restore its platform
    Reuters - 2:23 PM ET 01/14/2021
Fidelity Investments. Copyright 1998–2021 FMR LLC. 
All rights reserved. 

  • Terms of Use|
  • Privacy|
  • Security|
  • Site Map 
Close