Social media giants like Meta and transnational regulators such as the European Union are transforming private governance by creatively emulating public law frameworks. Drawing on exclusive interviews and in-depth analysis of Meta's Oversight Board and the EU's Digital Services Act, this book explores how these approaches blend European and American perspectives, bridging distinct legal traditions to address the challenges of platform governance. Analysis of content moderation practices and their implications uncovers a critical pattern in the evolution of governance for industries that will define the future, from digital platforms to emerging technologies. Combining public and private law in innovative ways, the book sheds light on bold governance experiments that will shape the digital world-for better or worse. This study offers crucial insights for understanding the next chapter of global governance in an increasingly interconnected and privatized world. This title is also available as Open Access on Cambridge Core.