Meta, TikTok and Snap say they oppose Australia’s youth social media ban but will comply with it

October 28, 2025 10:38 AM

Meta, TikTok and Snap say they oppose Australia’s youth social media ban but will comply with it

Instagram owner Meta and other social media firms said on Tuesday they will comply with a ban on users under the age of 16, adding that they will start deactivating accounts once the law takes effect on December 10. In parliament, Meta, TikTok owner ByteDance and Snapchat owner Snap said they continued to believe the ban would not protect young people, but they would soon reach out to owners of more than a million underage accounts to prepare them for the change. Their comments represented a s...

Meta sparks tech selloff as AI splurge spooks Wall Street

April 25, 2024 7:04 PM

Meta sparks tech selloff as AI splurge spooks Wall Street

Shares of Meta Platforms META sank nearly 15% on Thursday, sparking a selloff in big tech stocks after the social media giant signaled its costly bet on AI would take years to pay off.   The premarket drop was set to erase more than $180 billion from the company's market value and triggered a drop of 2% to 5% in shares of AI-focused firms Microsoft MSFT.O, Alphabet and Snap SNAP.   Meta CEO Mark Zuckerberg, who floored Wall Street last year with his cost-cutting drive, said on a post-ear...