How could this new development effect social networks like steemit? The bigger question is how could it effect internet innovation and entrepreneurship. I think it could be devastating.
The FCC has unveiled the final version of the proposal to undue the net neutrality rule from 2015. Unfortunate for us this is another issue that has become a political division so logic, good reason, and common sense get replaced with group think as people side with their team of choice. This new proposal is not written in stone and there are net neutrality advocates at work to get things right.
How does it effect you?
First you can expect your internet service to get more expensive. In many cases it will be much more expensive. As these companies lose their revenue from cable TV, they will make up the difference with internet plans.
With the higher prices will come worst service. As of now we expect all websites, apps and services to respond at the speed determined by our ISP's plan. For example I have a 75 Mbps downloadand 10 Mbps upload speed plan. It's a basic plan. Everything works fast enough, but without net neutrality my internet service provider can and history shows they will begin prioritizing some sites, apps, services over others.
Finally you can expect to lose access completely to things you love and use online. So you want to use Steemit.com but your plan doesn't include it, you don't get it. That is not a fear mongering statement. It is very possible. I can't predict how it could or will be excluded like so many other sites but please know net neutrality was a protection against thise type of thing.
We don't know how things will play out but we know this sucks.
Sorry to be negative with this post. I do believe things will work out and this is only a stumble on a larger path.