Source: Los Angeles Times
by Ian Ayres
“The headlines this week wrote themselves: Meta, humbled at last, agrees to pay up to $17.1 billion and accept the strictest limits ever imposed on teenage social media use. A combined two-hour daily cap across Instagram and Facebook. A midnight-to-6 a.m. blackout. Age assurance. Attorneys general from 47 states, the District of Columbia, and three territories took a victory lap. But amid all this, Meta’s stock went up. Wall Street understood something the headlines missed. Meta did not simply buy peace. It bought a government-backed campaign to press the same restraints on its rivals — restraints that, by design, might cost rivals far more than they cost Meta, thus serving Meta’s interests.” (09/03/26)