Meta reaches $17B settlement over social media harms to children
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Re: Meta reaches $17B settlement over social media harms to children
#2[deleted]
Re: Meta reaches $17B settlement over social media harms to children
#3“Shares of Meta rose 4.4% in pre-market trading.”
Re: Meta reaches $17B settlement over social media harms to children
#4The WSJ reports: "As part of the settlement agreement, Meta will also make sweeping changes to its services, Facebook and Instagram, including implementing a default two-hour time limit on its apps for users under 18."
The question is of course if these limits are enforced and if they are shared across other services.
Re: Meta reaches $17B settlement over social media harms to children
#51% of their market cap. I don't think we'll see someone with a net worth of $100,000 paying only a $1000 fine for harming children.
Re: Meta reaches $17B settlement over social media harms to children
#6“Shares of Meta rose 4.4% in pre-market trading.”
A measure of the market's perception of the threat to Meta from these lawsuits. The uncertainty is over now, so the price goes back up.
I'm interested in the settlement details - yes $16bn ok fine but any behavioral or structural changes? If it's just financial, nothing really changes... (EDIT: I see julianpye found some details in the WSJ, in another comment. There are some feature adjustments.)
Re: Meta reaches $17B settlement over social media harms to children
#7Only to children? What about adults? Yes, I know we are supposed to be more responsible, but this things are made to be addicted and you don't realize until it is too late.
Re: Meta reaches $17B settlement over social media harms to children
#81% of their market cap. I don't think we'll see someone with a net worth of $100,000 paying only a $1000 fine for harming children.
[deleted]
Re: Meta reaches $17B settlement over social media harms to children
#9Pay 25% from your 2025 profit for harming children since at least 2019 and be able to continue doing so. Sounds like a loss for society and a win for Meta.
Re: Meta reaches $17B settlement over social media harms to children
#10Shame; the states involved has an opportunity for actual redress of harms, as opposed to just some campaign-worthy soundbyte.