Australia's Parliament passed a law banning social media use for children under 16.
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00:00First, in the social media world, Australia's parliament passing a law banning social media use for children under 16.
00:08The law holds platforms like TikTok, Facebook, Snapchat, Reddit, X and Instagram accountable with fines up to $50 million in Australia,
00:18$33 million U.S. for failing to prevent underage accounts.
00:22World's richest man and ex-owner Elon Musk criticizing the law saying it, quote,
00:27seems like a backdoor to control access to the internet by all Australians.
00:33Aussie Prime Minister Anthony Albanese, meanwhile, stating the law would help protect children from online harms
00:39and emphasized that platforms now have a responsibility to prioritize child safety.