Edward Markey, D-Mass., and Richard Blumenthal, D-Conn., proposed the two bills that address protection of kids online. Translation: They want to influence the proposals. Instead, they offered boilerplate Washington lobbyist-speak, saying they look forward to working with Congress on the matter. On Tuesday, executives of YouTube, TikTok and Snapchat offered endorsements in principle during a congressional hearing on child safety, but wouldn’t commit to support already proposed legislation. That means the proposed legislation targeting personal data collected from young people could hit the bottom line of the social media companies. Advertising sales drive nearly all its revenue, which reached about $86 billion last year. Data is the financial lifeblood for a social network giant valued at $1 trillion like Facebook. It’s at the heart of the social platforms’ lucrative business model: harvesting data from their users and using it to sell personalized ads intended to pinpoint specific consumer groups. And a new digital “bill of rights” for minors that would similarly limit gathering of personal data from teens.įor online users of all ages, personal data is paramount. Also being floated is a prohibition against collecting personal data from anyone aged 13 to 15 without their consent. Another proposal bans specific features for kids under 16, such as video auto-play, push alerts, “like” buttons and follower counts. One bill proposes an “eraser button” that would let parents instantly delete all personal information collected from their children or teens. So lawmakers are getting creative as they introduce a slew of bills intended to take Big Tech down a peg. And also the kind of thing people might actually see popping up in their social feeds. But while regulators are still considering major moves such as breaking up some companies or limiting their acquisitions, the most realistic changes may be more tangible and less grandly ambitious.
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