JPB Liberty Pty Ltd is bringing a Class Action against Facebook and Google for banning the ads of the Crypto Industry.
A lot of people lost a lot of money and can join to recover their losses, just like shareholder or product liability class actions.
But there is also a much bigger picture!
In light of the terrible attacks on freedom of speech by Facebook and Google (Youtube) in banning Alex Jones and many other conservative, libertarian and even true left wing commentators, this case is even more important.
Indeed as I noted here, first the FAANGS censored the Crypto Industry, then they censored Alex Jones, next will be you and I!
Freedom of speech and free competition (anti-trust) are two sides of the same coin.
They are intrinsically linked and essential to each other.
Indeed Free Speech is just freedom in the marketplace for ideas, while Competition Law (anti-trust) protects freedom in the commercial marketplace.
As ideas often lead to businesses and many of today's businesses are about information flows, free speech is essential for free competition. Equally, free competition is essential for free speech. If there is monopoly of the presses then there can be no real free speech.
But there are important differences in what is actually legally protected:
- The 1st Amendment only protects against Government interference in free speech; while
- Competition Law only applies to the private sector.
Because this attack on our freedom is being implemented via the FAANGS (even though parts of the government are certainly involved) the correct way to legally fight back is via Competition Law.
Thus taking legal action against Facebook & Google for anti-competitive behaviour against the Crypto Industry protects free speech for everyone.
This is why I named the company JPB Liberty, after the late, great John Perry Barlow one of the greatest advocates for internet freedom and founder of the Electronic Frontier Foundation.