In some ways, the relevant narrative here isn't whether it's for sure that the everything

crash is coming. It's the question. It's the fact that when we see markets turn down,

the question becomes not, what can we do to get them back on track? But is this the final

pinprick of a bubble that we don't have any real control over?

Welcome back to The Breakdown with me, NLW.

It's a daily podcast on macro, Bitcoin, and the big picture power shifts remaking our world.

The breakdown is sponsored by crypto.com, nexo.io, an elliptic, and produced and distributed by

CoinDesk.

What's going on, guys? It is Wednesday, October 28th, and today we are talking about

markets going risk off, and whether it's a sign of an everything crash coming or just a normal

little reset. First up, however, let's do the brief.

It is a big deal for social media and the internet as the CEOs of Twitter, Facebook, and Alphabet

are testifying before the Senate Commerce Committee

on their role in shaping political discourse.

The hearing is specifically focused on, quote,

the unintended consequences of Section 230 of the 1996 Communications Decency Act, which is the part that protects companies from being held liable for what people on them say.

Now, when it comes to the two parties involved in these hearings, they are kind of interested in different things.

Republicans are focused on accusations of these companies censoring conservative views,

while Democrats are more interested in the spread of disinformation.

Jack Dorsey tweeted out his opening remarks, which I'll share now.

Section 230 is the most important law protecting internet speech.

Removing 230 will remove speech from the internet. 230 gave internet services two important

...