Meta Settles $18 Billion Trial, Affects TikTok and YouTube

Meta settled a social media addiction trial for up to $18 billion, with $12.7 billion to be paid over 10 years. The remaining $5.3 billion is conditional, dependent on TikTok and YouTube making changes similar to those mandated for Meta. Changes for users under 18 will include a 2-hour daily usage limit that only a parent can lift, and tighter age verification. California's Attorney General Rob Bonta stated this settlement signals expectations for industry-wide change. This matters for investors as it highlights ongoing regulatory scrutiny in the social media sector, potentially impacting operational costs and trust.