00:00Meta will pay up to $18 billion over the next decade and impose stricter limits on how teenagers use Facebook
00:08and Instagram.
00:09These are terms under settlement with nearly all US states over claims the platforms were designed to addict children.
00:19The agreements announced on Wednesday and a federal trial over allegations that Meta's products harmed children
00:26and that the company misled the public about their safety.
00:29Four states, California, Colorado, Kentucky and New Jersey, had been expected to seek nearly $200 billion in civil penalties.
00:38University of California Berkeley Law Professor Stavros Gadinis said the settlement marks a change in Meta's strategy,
00:45with the company now positioning itself as an industry leader in social media reform.
00:52Now, will this work? Will young people be less affected?
00:57That remains to be seen.
01:00We need to see whether these measures will be enough, whether other measures will be necessary.
01:07But Meta's board is put on notice that this is a critical risk for the company that it needs to
01:13continue to oversee.
01:14And if it doesn't, consequences may flow.
01:18The agreements do not require a fundamental overhaul of Meta,
01:21but represent a sweeping effort to redefine how it serves young users.
01:26The settlement could also provide a template for thousands of other lawsuits against social media companies,
01:32as governments around the world tighten restrictions on children's access to harmful online content.
01:38Australia, for example, has banned children under 16 from using social media.
01:43Australia, for example, is rather close to an industry but not even non-tactuality,
01:43with the companies around the world Filipa,
01:43A grasp of a good idea.
01:44Thank you very much.
