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 bipartisan bill aimed at protecting children from harmful online content. The legislation mandates tech companies to take steps to prevent harm on platforms used by minors, including Meta, Snap, and X. The bill requires these companies to offer options to protect minors' information, disable addictive features, and restrict harmful interactions.
July 30, 2024 | 5:31 am
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Meta Platforms, Inc. (NASDAQ:META) will be required to implement new safety measures for minors on Facebook and Instagram, including options to protect information and disable addictive features.
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 comply with new regulations to protect minors on Snapchat, including disabling addictive features and restricting harmful interactions.
Snap will need to make significant changes to comply with the new bill, which could lead to increased costs and changes in user engagement, potentially affecting short-term stock performance.
CONFIDENCE 85
IMPORTANCE 85
RELEVANCE 100
NEUTRAL IMPACT
Microsoft Corporation (NASDAQ:MSFT) has voiced support for the new child online safety bill, which may impact its online platforms used by minors.
Microsoft's support for the bill indicates a proactive stance, but the direct impact on its stock is less significant compared to social media-focused companies.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 50