Matt Frankel
๐ค SpeakerAppearances Over Time
Podcast Appearances
And one of the reasons is that it's so difficult to say what's safe and what's not.
So I guess this doesn't change my opinion.
I already kind of had this opinion about these companies.
There's a lot to unpack there.
I'm not sure if social media is about to have its tobacco moment yet.
But I will say that the most interesting thing about this, it's not necessarily the fines that were just imposed.
I mean, $3 million split between Meta and Alphabet is nothing for these companies, but it's really the precedents they could set.
So the verdict related to safety on social media
that could certainly have some legislative impacts.
I mean, for example, there are countries that already banned social media for people under 16 years old.
So something like that could happen here potentially.
That wouldn't exactly be crippling to these companies.
It would have a material impact, but it wouldn't be crippling.
The mental health lawsuit, which is the one that was split between Meta and YouTube, is a little more interesting to me.
So Facebook has over 3 billion users worldwide.
So would this pave the way for everyone whose life has been harmed by a social media addiction to potentially try to get millions of dollars from these companies?
Virtually anyone, I know I could, can make the argument that their lives would have been better or more productive at least
If it weren't for social media, how much more could I have written over the years if I wasn't on Facebook?
Keep in mind that this was an initial decision, as John correctly pointed out, Meta's going to appeal as they should.
The final ruling could be a little more consequential.