Meta to pay $18b to settle states' teen safety lawsuit

Meta agreed to pay $18bn to US states and implement new safety features on Facebook and Instagram, including daily usage limits and nighttime access restrictions for minors. The settlement resolves allegations of consumer protection and privacy law violations. Meta denied wrongdoing. The changes will apply in participating US states, but their impact on European users remains unclear. The EU has also accused Meta of violating online safety rules.

Meta agreed to pay up to $17.1 billion to settle a lawsuit alleging its social media platforms are addictive. The settlement highlights the company's legal and financial risks related to its products' impact on users. Additionally, a Venezuelan interim president announced a deal for the US to control 65 billion barrels of Venezuela's oil, which could have significant economic implications for both countries.

Meta agreed to pay $18 billion to settle claims that its platforms were designed to addict children. The settlement is the largest of its kind. Lori Schott, who lost her daughter to suicide, has been advocating for changes to social media platforms.

Meta Platforms (META) is investing heavily in AI to improve ad conversions on Facebook and Instagram, with capital expenditures expected to reach $130B-$145B by 2026. The company released AI models like Muse Glimmer and plans to monetize AI through better user engagement and targeted advertising. Q2 results showed an 8.3% increase in Facebook ad clicks and a 15.7% rise in ad conversions. However, high spending could pressure future profit margins.

Meta agreed to pay $18bn and implement changes to Facebook and Instagram to resolve US state claims. The settlement includes daily usage limits, nighttime access restrictions, and new parental controls for under-18s. Meta reported Q2 revenue of $60.8bn and income of $15.85bn, indicating it can afford the settlement. The changes will apply in participating US states, but Meta did not comment on impacts for Ireland or Europe. The EU has accused Meta of breaching online safety rules, and a Commissi

Meta settled a $18B lawsuit with U.S. states over allegations of misleading the public about harms to younger users. The settlement includes platform changes for users under 18 and conditional payments tied to actions by TikTok and YouTube. California's Attorney General indicated further legal action against these platforms is expected.