Lots of laws!
Social Media Mogul. — we operate in lots of countries with lots of different laws, so, we do not need to comply with any of them.
Big Wigged Judge — you operate in lots of countries with lots of different laws, so you should obey all of them,
The first option (the current situation) allows a Tsunami of hate, libel, misinformation and fraud. To propagate.
The second option would suppress legitimate content because North Korea, Russia or Saudi Arabia objected.