In what is being referred to as potentially social media's "Big Tobacco moment," Meta Platforms (NASDAQ: META) recently announced an agreement with 52 attorneys general under which the parent company of Facebook and Instagram will pay up to $18 billion over the next decade and significantly change its policies for teen users.
While the fine would be the largest consumer-protection settlement ever, excluding Big Tobacco, most Wall Street ***** ysts and experts believe Meta avoided what could have been a vastly larger financial settlement.
Missed Nvidia in 2009? This Rare Signal Is Flashing Again. In 2009, a "Double Down" signal flashed for a little-known chipmaker called Nvidia. For the first time in years, that same "Total Conviction" signal is flashing for a company 1/100th the size of Nvidia. Continue »
But the ramifications from this landmark teen-safety lawsuit could be far worse for social media company Snap (NYSE: SNAP). Here's why.
Per the agreement, Meta will pay $12.7 billion to the participating states and U.S. territories in the lawsuit in annual installments over the next decade. The remaining $5.3 billion will be paid based on two conditions: Alphabet's YouTube and TikTok must apply some of the same changes that Meta is making for teens, and those companies must collectively pay a matching $5.3 billion.
#meta #billion #signal #flashing
While the fine would be the largest consumer-protection settlement ever, excluding Big Tobacco, most Wall Street ***** ysts and experts believe Meta avoided what could have been a vastly larger financial settlement.
Missed Nvidia in 2009? This Rare Signal Is Flashing Again. In 2009, a "Double Down" signal flashed for a little-known chipmaker called Nvidia. For the first time in years, that same "Total Conviction" signal is flashing for a company 1/100th the size of Nvidia. Continue »
But the ramifications from this landmark teen-safety lawsuit could be far worse for social media company Snap (NYSE: SNAP). Here's why.
Per the agreement, Meta will pay $12.7 billion to the participating states and U.S. territories in the lawsuit in annual installments over the next decade. The remaining $5.3 billion will be paid based on two conditions: Alphabet's YouTube and TikTok must apply some of the same changes that Meta is making for teens, and those companies must collectively pay a matching $5.3 billion.
#meta #billion #signal #flashing
3 days ago
