That is the topic of my latest Bloomberg article, here is one excerpt:
I’d like to suggest a simple trilemma. When it comes to private platforms and speech regulation, you can choose two of three: scalability, effectiveness and consistency. You cannot have all three. Furthermore, this trilemma suggests that we — whether as users, citizens or indeed managers of the platforms themselves — won’t ever be happy with how speech is regulated on the internet.
There is much more at the link.