The threat to free speech comes not from social media regulation, but from its lack of regulation: if companies' algorithms are opaque, how do we know whether they're not using their control over platforms in a way that threatens free speech? Companies don't have civil liberties; citizens do. As for the idea that corporate secrecy helps companies stay competitive, true innovation can't stem from opaque rules. Opening up algorithms will give consumers more control, which will increase competition by forcing companies to compete in other ways.