The Rundown Australia Bans Social Media for Kids Under 16, Meta to Build Subsea Cable Network
30 snips
Nov 29, 2024 Australia's bold move to ban social media for kids under 16 raises questions about enforceability, especially with teenagers adept at bypassing age checks. Meanwhile, Meta's ambitious plan to establish a global subsea cable network aims to enhance internet infrastructure and connectivity. The podcast also delves into the latest financial landscape, with inflation creeping above targets and its impact on the stock market during the festive shopping season. Trends from Thanksgiving reveal a surge in online shopping, shaping investor outlooks as the holiday rush unfolds.
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Sticky Inflation
- The October PCE inflation report came in at 2.3%, above the Fed's 2% target.
- This "sticky" inflation might influence the Fed's decision on a December rate cut.
Australia's Social Media Ban
- Australia banned social media for kids under 16, requiring platforms to verify ages.
- The law's effectiveness is questionable due to lack of ID requirements and user anonymity.
Meta's Subsea Cable
- Meta plans to build a subsea cable network, a $10 billion investment.
- This will give them more control over internet infrastructure since they are the second largest driver of internet usage.