This hasn't worked very well. A proposal for "second wave" moderation oversight based on arms-length semi-employees at the platforms who gather and report statistics on moderation calls and complaints hasn't gelled either:
https://pluralistic.net/2022/03/12/move-slow-and-fix-things/#second-wave
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Both the EU and California have privacy rules that allow users to demand their data back from platforms, but neither has proven very useful (yet) in situations where users have their accounts terminated because they are accused of committing gross violations of platform policy.
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