It's much more than that. What if the next time someone posted a conspiracy theory on Reddit about Hilary Clinton she filed a libel claim against Reddit in the UK.
The UK court will consider that under it's jurisdiction because the publication was available in the UK. The UK libel law essentially puts the burden of proof on the defendant.
So now an American citizen can force an American company to prove that the claims of an anonymous user were true, or pay damages.
You can't IPO if everything on your platform is a potentially bankrupting libel lawsuit waiting to happen.
The UK court will consider that under it's jurisdiction because the publication was available in the UK. The UK libel law essentially puts the burden of proof on the defendant.
So now an American citizen can force an American company to prove that the claims of an anonymous user were true, or pay damages.
You can't IPO if everything on your platform is a potentially bankrupting libel lawsuit waiting to happen.