Freedom of speech and a company's right to regulate their service both need to be protected
The power of the internet is unprecedented, and we should not fall down at the first hurdle in the infancy of its use. Inevitably companies based on the internet have the legal right to censor their content however they see fit, but time will tell if users will still want to utilise heavily or badly regulated services. Maybe optional censorship is the way to go, preserve free speech while regulating by giving heavy warnings or possibly additional age verification checks to protect children. Then censorship can be used with a case by case, user regulated, with a removal option in order to place this choice in the user's hands, while making it explicitly clear as to what they are about to see.
The large online companies are swamped with content to filter, with 500 hours of youtube videos, 450,000 tweets and 2.5million facebook posts being uploaded every minute. Facebook, overwhelmed with the massive amount of content violations on its platform, currently contracts much regulation of content to third party companies. One such company was TaskUs a content moderation service based in Manila. Big cultural and exploitation questions remain however, with workers often being young school leavers, making less than $500 a month and more likely to be from a conservative Catholic background, considering they are from the Philippines.