The reverse is precisely what's happening. European and other countries have anti- "hate speech" laws, only the US has a 1st Amendment with legally no such thing as "hate speech" per a SCOTUS decision in the past year or so.
Fakebook, Jewtoob, etc. are complying with EU law at the expense of US free speech. Fuck that. If the operate in the US, which they do, they should put US law first, i.e. respect the First Amendment.
The best analogy is telephone companies. They are not allowed to "censor" what you say over the telephone. In other words, they are in the medium business not the content business. Medium or content; technology companies should be required to pick one of them and be forbidden from being in the other one. Otherwise, there is an inherent conflict of interest that cannot be resolved. Hence their tendency to "censor" (in quotation marks because censorship is government action, not private action).
Regardless of the precise legal mechanism used, it is important that what the average normalfag thinks of as "free speech" be extended to how people actually communicate in the 21st Century, i.e. social media such as Fagbook, YouKnowWhoTube, Twatter, etc.
Every educated anon on this board knows that the "Bill of Rights" applies to government and not private entities. Having said that, Congress could pass a very simple law as outlined above. It would be enforced by lawsuits, the FTC responding to complaints, etc. This really doesn't have to be such a complicated big deal. Medium or content, pick one.