financetom
Business
financetom
/
Business
/
New York set to restrict social media algorithms for teens, WSJ reports
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
New York set to restrict social media algorithms for teens, WSJ reports
Jun 3, 2024 5:18 PM

(Reuters) - New York is planning to prohibit social media companies from using algorithms to control content to youth without parental consent under a tentative agreement reached by state lawmakers, the Wall Street Journal reported on Monday, citing people familiar with the matter.

Social media platforms have in recent years come under scrutiny for its addictive nature and impact on the youth.

New York City Mayor Eric Adams said in February that his administration has filed a lawsuit against social media companies including Meta Platforms' Facebook and Instagram for fueling mental health crisis among the youth.

The legislation is aimed at preventing social media companies from serving automated feeds to minors, the report said.

The bill, which is still being finalized but expected to be voted on this week, would also prohibit platforms from sending minors notifications during overnight hours without parental consent, the WSJ said.

In March, Florida Governor Ron DeSantis signed a bill that bans children aged under 14 from social media platforms and requires 14- and 15-year-olds to get parental consent, a measure supporters say will protect them from online risks to their mental health.

Utah became the first U.S. state to adopt laws regulating children's access to social media, in March last year, followed by others including Arkansas, Louisiana, Ohio and Texas.

Shares of Meta and Snap were down about 1% in extended trading.

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
At aviation meeting, ESG takes backseat to jet shortages
At aviation meeting, ESG takes backseat to jet shortages
Jan 17, 2025
DUBLIN (Reuters) - A major annual air finance gathering largely skirted round the topic of sustainability this week - a rare departure from the industry's usual tight messaging on curbing emissions that left some delegates concerned about the impact of ESG fatigue. In contrast with the attention devoted to climate topics at earlier events, this year's Airline Economics conference was...
Update: Market Chatter: Blackstone Considers Possible Sale of Song Rights of Bob Dylan, Others
Update: Market Chatter: Blackstone Considers Possible Sale of Song Rights of Bob Dylan, Others
Jan 17, 2025
05:25 AM EST, 01/17/2025 (MT Newswires) -- (Updates with responses from Warburg Pincus and Temasek in the fifth paragraph.) Blackstone (BX) has hired financial advisers as it considers a possible sale of rights to music by artists such as Bob Dylan, Adele and Ariana Grande, Bloomberg reported late Wednesday, citing unnamed people with knowledge of the matter. The asset management...
Update: Market Chatter: Rio Tinto, Glencore Explore Potential Merger
Update: Market Chatter: Rio Tinto, Glencore Explore Potential Merger
Jan 17, 2025
05:20 AM EST, 01/17/2025 (MT Newswires) -- (Updates with Rio Tinto's comment in fourth paragraph.) Rio Tinto (RIO) and Glencore held preliminary talks about a potential merger, Bloomberg News reported Thursday, citing people familiar with the matter. The discussions were described as early stage, and it is unclear if they are still underway, the report said. Rio Tinto is the...
Volkswagen looking to deepen partnership with U.S. EV maker Rivian, Spiegel reports
Volkswagen looking to deepen partnership with U.S. EV maker Rivian, Spiegel reports
Jan 17, 2025
BERLIN, Jan 17 (Reuters) - Volkswagen is considering ways to deepen its partnership with U.S. electric car maker Rivian, the German company's CEO told Spiegel magazine in comments published on Friday. For example, we are thinking about sharing modules and bundling purchasing volumes, Oliver Blume said. The Volkswagen group offers great opportunities for a small brand like Rivian. (Writing by...
Copyright 2023-2026 - www.financetom.com All Rights Reserved