Supporting Statement: Digital service providers (DSPs) control access to critical infrastructure and platforms that drive innovation in the global economy and facilitate the free exchange of information. These companies have unprecedented influence over public discourse and, increasingly, over access to essential tools for commerce, education, and communication. Respecting free speech and religious liberty drives healthy discourse and tolerance for diverse views. Pinterest can and should promote these freedoms to best serve its diverse users and promote a healthy market and marketplace of ideas. Economic growth also requires innovation, which requires the freedom to challenge the status quo. But in recent years, DSPs have faced growing pressure—from governments, advocacy groups, and internal constituencies—to remove or restrict lawful speech, including particular political and religious viewpoints. The use of vague and subjective terms such as “misinformation,” “hate speech,” “intolerance,” or “reputational risk” in content moderation, ad restrictions, and service denial policies creates significant risks of arbitrary enforcement and discrimination. The 2025 Viewpoint Diversity Score Business Index found that 100% of major DSPs maintain problematic terms of service like the above, and that 92% maintain particularly egregious “acceptable use” policies that can be used to deny service.¹ Recent revelations from Meta and X,² as well as the newly enacted Digital Services Act from Europe, point toward growing pressure to censor speech.³ Pinterest, among other things, prohibits the use of its services for “hateful content,” “conspiracy theories,” “limiting women’s rights” and “other discriminatory ideas.”⁴ Pinterest’s censorship regarding women’s reproductive rights is especially concerning climate change⁶ to vaccines,⁶ and advertisements that contain material that Pinterest deems “harmful.”⁷ When DSPs engage in this kind of discrimination, they expose themselves to heightened legal liability and reputational and operational risk. Some companies are already recognizing and responding to these risks. In early January 2025, for example, Meta announced a major overhaul of its content moderation framework, ending reliance on third party fact checkers and easing restrictions on controversial but “mainstream” discourse.⁸ Other household names, including Johnson & Johnson,⁹ PepsiCo,¹⁰ IBM,¹¹ and (thanks to an FTC approved settlement) Omnicom,¹² moved to protect religious and political views when buying or selling ads. Shareholders need to know if Pinterest serves its diverse customer base without regard to protected characteristics or viewpoints.