This line of reasoning is very popular but I don't see how people take it seriously. Twitter (and other major social media platforms) have become de facto "government instrumentalities" under the dual effect of pressures from without and pressures from within.
The same revolving door policies we all recognize in other industries apply to major media companies, as well, meaning the leadership within these organizations is harmonized with the leadership of the state. Moreover, media OWNERSHIP is a subset of portfolios that have massive influence on government policy (and vice versa). Meanwhile, there have been numerous incidents of major political figures cajoling the social media giants to censor speech. When Congress and the President are threatening to regulate your industry while "asking for help," that's a significant leverage over your so-called "private" business.
And, Twitter is not "just a shitty microcosm". For good or ill, Twitter functions basically as the public slack channel of the news media industry. Twitter flame wars wag the dog of the news cycle. It's also a target of propagandists world-wide. Like it or not, Twitter has an outsized influence on public discourse.
The same revolving door policies we all recognize in other industries apply to major media companies, as well, meaning the leadership within these organizations is harmonized with the leadership of the state. Moreover, media OWNERSHIP is a subset of portfolios that have massive influence on government policy (and vice versa). Meanwhile, there have been numerous incidents of major political figures cajoling the social media giants to censor speech. When Congress and the President are threatening to regulate your industry while "asking for help," that's a significant leverage over your so-called "private" business.
And, Twitter is not "just a shitty microcosm". For good or ill, Twitter functions basically as the public slack channel of the news media industry. Twitter flame wars wag the dog of the news cycle. It's also a target of propagandists world-wide. Like it or not, Twitter has an outsized influence on public discourse.