For all the good that social media platforms provide – connection, innovation, a panoply of perspectives – there is also a darker side, evident in online harassment, deep fake video and audio manipulations, and the widespread circulation of disinformation and conspiracy theories. What responsibility should social media companies take for the content hosted on their sites? In their January 2021 Harvard Business Review essay, Michael A. Cusumano, Annabelle Gawer, and David B. Yoffie argue that it is time for social media companies to self-regulate their platforms to secure “their long-term survival and success.”