Senate Set To Approve New Child Online Safety Bill On Tuesday: What It Means For Elon Musk's X, Meta, Snap And TikTok
Portfolio Pulse from Ananya Gairola
The U.S. Senate is expected to pass a bill aimed at protecting children from harmful online content, requiring tech companies to take steps to prevent harm on platforms used by minors. The bill has bipartisan support and targets companies like Meta, Snap, X (formerly Twitter), and TikTok.
July 30, 2024 | 5:24 am
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NEUTRAL IMPACT
Microsoft Corporation (NASDAQ:MSFT) has voiced support for the child online safety bill, which aims to protect minors from harmful content on online platforms.
Microsoft's support for the bill aligns with its corporate responsibility initiatives. The impact on its stock is likely neutral as the company is not primarily a social media platform.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 50
NEGATIVE IMPACT
Meta Platforms, Inc. (NASDAQ:META) will be required to implement measures to protect minors from harmful content and provide options to disable addictive features and opt out of personalized recommendations.
The bill mandates significant changes to how Meta operates its platforms, which could lead to increased costs and operational changes, potentially impacting short-term stock performance.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100
NEGATIVE IMPACT
Snap Inc. (NYSE:SNAP) will need to take steps to protect minors from harmful content and provide options to disable addictive features and opt out of personalized recommendations.
Snap will face regulatory requirements to protect minors, which could lead to increased costs and changes in user engagement, potentially affecting short-term stock performance.
CONFIDENCE 85
IMPORTANCE 85
RELEVANCE 100