00:00This is certainly giving the states a part of what they asked for. Now, I want to be careful
00:05because this is a very detailed settlement agreement, and I haven't read in depth exactly
00:10what the company's admitting to or not, and I suspect it's still not admitting fault in any
00:16sort of formal way. But in an informal way, you're absolutely right. This is actual changes to how
00:24the service operates for teams, and it risks, at least at the edges, discouraging them from using
00:32it quite as often. And so we're talking about two-hour time limits on usage and other related
00:41terms, mandating that they take breaks from time to time in sort of an effective way. It was discussed
00:48in trial. Hey, no one actually uses that feature, and most kids just ignore it. This is kind
00:55of making those things work a little more aggressively and more effectively. And in theory, down the
01:02road, that could have an impact on how many eyeballs are seeing ads on the service.
01:07I mean, some of these behavioral remedies are major, in my mind. Two-hour daily limit, as
01:12you mentioned, nighttime lockout, school hours, push notifications will be disabled, most of them,
01:18mandatory breaks, age checks. I mean, these are significant behavioral changes. I would think,
01:25what's the company, I would think this would have a materially impact kind of the company's operations.
01:31I think it's a longer-term impact because, you know, one thing that was looked at in the case is
01:38how
01:38much, what percentage of the company's revenue actually comes from these teens and even younger
01:44than teens, under 13. It was a relatively small amount in terms of right now, how much revenue
01:51are we getting from them? Where this starts to impact is longer term because those young users become
01:58your adults that are hooked on the service. And these changes, you know, risk denting that if when you're
02:0717, you're not using your social media as much, you're probably not using it as much when you're 17 to
02:1435.
02:16No, that's a really important point. I think about my son who's 20 and is always scrolling on these social
02:21media services. And, you know, he's not going to have to be subject to any of these restrictions, but, you
02:25know,
02:25he's hooked in there like completely. So, Matt, question. The changes that Meta agreed to make are
02:31good for 10 years. Why is there this time limit? Yeah, I think this was a negotiated settlement and
02:38there's a lot of, you know, details in this agreement that we need to work through. I think some of
02:43these
02:44conditions are contingent upon other industry players also adopting them. So, you know, you're right to
02:53point out the time limit, but there's also some of the strictest versions of this may not apply if
03:00TikTok or other peers don't adopt them. So there's a lot of close reading we need to do on exactly
03:07how
03:07this works. And all of this, of course, is in addition to the monetary terms and the broader
03:13litigation. This is just one piece of a multi-layered piece of litigation facing the company.
03:19I find it interesting that we had heard that Mark Zuckerberg was going to be testifying. Lawyers
03:26had said that they would call him to testify. So I'm guessing that this settlement means Mark
03:30Zuckerberg would not need to testify? That's what I would expect. So the parties filed this consent
03:37judgment before the court this morning. I don't expect her to, you know, stand in the way of them
03:43reaching into this agreement. So that trial that's been going on in Oakland should end with this
03:49development. What it won't stop is other cases brought by school districts. There's over 1200
03:56school districts across the United States that are suing Meta on that basis. There are personal
04:01injury lawsuits, individuals who say they're harmed and they're suing the company. All of that continues
04:08and doesn't seem to be displaced by this agreement. But that's
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