Move Fast and Settle Things

So this this was a case that was brought by most state attorneys general in the U.S., not all.

Most of them against Meta a few years ago, you know, claiming all of the usual things about

child

safety.

And, you know, the argument being that Meta does not take child safety seriously enough and something needs to be done.

And the case has been moving forward and sort of fits and starts over the last few years.

And there's the trial that's going on in California right now that was sort of related to that.

There's obviously also the New Mexico case that we covered a few months ago when all of that happened and the rulings there.

But what happened yesterday as we're recording was that Meta settled with 52 attorneys general.

And basically wiped out most of those cases.

You know, it was a consolidated case, but wiped out that, made an agreement they were going to pay a bunch of money, that the amount that they paid depends on a few different factors, which we'll get into in a moment.

They have promised to put in place a bunch of different changes within the app, which are designated to hopefully protect and help protect children in some form or another.

And they are also going to try to make this into an industry standard.

The features and changes that they're making, or at least some of the features and changes that they're making, they are trying to impress upon specifically YouTube and TikTok to make the same changes.

And there are some incentive structures involved here.

to get them to try and make it an industry standard.

And if other social media companies reach to a certain level, then Meta is also effectively required to try to pressure them into implementing the same features as well.

So that's the sort of headline.

You know, the headline number that gets a lot of attention is that they're paying.

It depends on which reporting you see.

It's somewhere between $16 and $18 billion.

And that money will go to the states.

In theory, that money is supposed to be used for child safety related things.

It will be paid out over the course of about 10 years.

You know, so a lot of people...