Cancel culture is very old. It was the preferred method of social control exercised by right-wing religious organizations, and still is by some. Once the political left realized it was an effective tool, they picked it up and started bludgeoning people with it.
Individuals engage in canceling all the time. Have you ever broken off a relationship and avoided someone? Perhaps ghosted them? That's individual cancel culture in action. If enough individuals behave the same way toward the same person for the same reason, such as Harvey Weinstein, then canceling becomes cultural.
The idea that cancel culture is dead is wishful thinking. As long as people make individual decisions not to watch movies from certain actors, not to buy products from certain companies based on their moral code, then cancel culture will remain with us.
