Expert warns of massive reckoning for social media companies: ‘Giant case of karma' [FOX Business Network]
Meta Platforms, Inc. - Class A (META)
Company Research
Source: FOX Business Network
Jonathan Haidt, a social psychologist and author of "The Anxious Generation," says mounting concerns over social media's impact on children have hit a "turning point." Speaking Thursday on FOX Business' "The Big Money Show," Haidt pointed to a closely watched social media trial, citing internal Meta communications in which employees described Instagram as "a drug" and acknowledged they were "basically pushers." "What we learned is that the companies really behaved abominably," Haidt said. " Congress created the problem, and now I'm thrilled to see tweets and statements from senators and congressmen [from] both parties saying, 'We've got to do something about this.'" Haidt said the recent jury verdict could mark the beginning of a much larger wave of litigation. "We believe that there are literally millions of victims," Haidt said. "Hundreds of kids are dead." With "millions of potential plaintiffs," he warned, the financial consequences for tech companies could be enormous.
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