Americans have long prided themselves on their commitment to free speech, a principle enshrined in the First Amendment to the U.S. Constitution. But in recent years, hate speech and phony content have proliferated online, offending and misinforming millions of Americans. Some have argued that the world largest social media companies, such as Facebook and Twitter, should restrict access to extremist material and ban fake news and false information. But others argue that this would amount to censorship, and private companies should not become the arbiter of acceptable and unacceptable articles and opinions. Should these companies adopt policies limiting content online? Or can free speech principles save social media companies from themselves?