00:00Yeah, so my initial thoughts are that the state attorney general achieved what Congress thus far has been unable, what
00:07Congress thus far has been unable to do, which is to actually regulate social media.
00:11For years, we've been talking about it. Congress has expressed a desire to do it, but hasn't been able to
00:16achieve it.
00:17This settlement, of course, the numbers are big, and obviously when you're talking about this kind of, this magnitude of
00:23damages, that's quite substantial from a market perspective.
00:27But what's most significant about this settlement is the fact that it imposes significant regulatory changes in terms of how
00:33it uses data relating to children, how it age gates, how it throttles the usage for kids, shut off during
00:42school hours, and a whole range of remedies that really do look a lot more like a regulatory scheme for
00:49social media, one that most of the country has been asking for for years, if not longer.
00:55And so, while this is certainly not done, there are more cases in the queue, municipal cases and private cases,
01:03this is by far and away the most significant step forward in social media regulation that we've seen in the
01:08history of the product.
Commenti