Are social media firms exceeding their limits? Have creators of the global virtual public square become unaccountable? Or are they being victimized by the powers that be? A debate is raging over Facebook (2.74 billion users), YouTube (2.29 billion), Instagram (1.22 billion) and Twitter (350 million), and it isn’t confined to India. Barring China, where major American social media outlets are banned, pretty much the entire world is caught in a moment of great introspection about the conduct of these all-pervasive companies.