Facebook is kind of fucked both ways tbh. If they don't remove anything they get blasted for hosting violence and abuse and if they remove too much they get blasted for censorship. Its impossible for them to remove just the right amount of stuff since thats subjective and they could never train a million moderators on how to apply it.
I think the real solution here is we need to break up the social media companies. Have each community be its own self hosted website again where the moderators of the community take responsibility for it and apply their own rules. The government can then step in and take action if the communities are illegal.
Agree on the first part, but the second part doesn't seem as though it would practically work. Subreddits are the closest approximation and they still fall under a monolithic umbrella (and struggle to cope). Also, in terms of balance of power, breaking up all the different communities into separate smaller units gives too much power to the government IMO. It's essentially the ideal situation for a government who would like to pressure anyu one smaller community. Much harder to shush/gag/silence/stealth takedown a Facebook or a Reddit than it is a small entity. Divide & Conquer.
Facebook is definitely stuck between a rock and a hard place here though. This is why I think Mark Zuckerberg is actually being authentic when he says that "Facebook needs more regulation". He's already seen this problem and knows that having that subjective burden offloaded onto the government is the only true solution, i.e. "just tell me what the rules are and I shall play by them". Conveniently, these additional rules would also make it much harder for a new entrant to come unseat Facebook. So more regulation from the government is, in reality, win-win for Facebook.
I think the real solution here is we need to break up the social media companies. Have each community be its own self hosted website again where the moderators of the community take responsibility for it and apply their own rules. The government can then step in and take action if the communities are illegal.