To Volokh, these changes were exciting and democratizing. But 22 years later, the picture of what the cheap-speech boom has wrought seems considerably darker. No doubt the Internet has dramatically lowered the costs of obtaining information and spurred the creation and consumption of content from radically diverse sources. Anyone with an idea can now get it out on Facebook, Twitter or any number of other sites accessible to anyone in the world with an Internet connection. And cheap speech has been a boon to those fighting oppressive regimes around the world, as truthful messages and relevant information can spread despite government censorship efforts.

Less positively, cheap speech has undermined mediating and stabilizing institutions of American democracy, including newspapers and political parties, with negative social and political consequences.