Those services will not be able to afford the lawsuits. That's the point. New services will be one of two things: 1) Pirate media in open and flagrant violatio

Those services will not be able to afford the lawsuits. That's the point. New services will be one of two things: 1) Pirate media in open and flagrant violation of the legal requirement to ensure the legality and veracity of all user content. In which case the government will shut it down or admit non-enforcement of the bogus law. 2) Or they are soon-to-be-former media sued into oblivion because someone lied on their service in a manner which the service is liable for. The service either vets the statements or pays the damages. This is before we consider the implications of a hostile actor using this mechanism to tank businesses. Write bots to spread misinformation, lies and slander. What are you going to do, sue some unknown operator ten thousand miles away? Good luck. The service will pay damages for it and they'll keep paying until they restrict free speech sufficiently.