Regulation of Social Media

Social media has been in the news recently. These companies are unlikely to self-regulate when there is a profit motive, as we have learned from the water industry. They will be even less likely an imperative to self-regulate in a competitive environment, where such self regulation could lead to voluntary competitive disadvantage.

It is therefor of the utmost necessity to impose regulation on such companies so that no individual is at a competitive disadvantage by voluntary self-regulation. The regulations must apply to all to create a level playing field.

Those who argue against any form of regulation are either numbskulls or have a financial vested interest in deregulation.