Whether this was the CEO's first act of business or not, people should be genuinely scared of him. He doesn't give a fuck about the First Amendment and thinks it's his job to dictate what a healthy conversation is and who gets to participate [0]. People should be abandoning this company immediately, but the sad part is that many of its most active users agree with him ideologically. At least Jack gave the appearance of giving a fuck about free speech.
I don't know much him nor have I read that entire transcript, but one of the main jobs for a CEO is to set the direction and tone for a companies services. They can say/do whatever they want wrt free speech and their own messaging platform.
[0] https://www.technologyreview.com/2020/11/18/1012066/emtech-s...