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APA Says Kids Should Be Screened for Harmful Social Media Use

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1 year ago

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The American Psychological Association, one of the country’s leading mental health organizations, released its first health advisory on social media Tuesday, warning parents and policymakers alike about the harms and benefits platforms could bring to young children.

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The APA report may have stopped short of flat-out casting aside social media entirely, but it did still offer 10 recommendations to parents and policymakers on how to avoid potentially harmful outcomes. For starters, the APA said parents should regularly screen kids for “problematic social media use” that could interfere with their daily lives. Examples of these problematic use cases, the report notes, can include kids continuing to use social media even when they want to stop or cases where they engage in lying and other deceptive behavior to stay online. The report encourages active “adult monitoring” of social media use by children between the ages of 10-14 but quickly caveated that by saying such monitoring should be “balanced with youths’ appropriate needs for privacy.”

“Is it hard for them [kids] to detach from social media? Do they lie so they can engage with it?” APA CEO Arthur Evans said in an interview with NPR. “Those are the kinds of things that parents should be on the lookout for when they’re monitoring their child’s social media use.”

What did the APA recommend?

Most of the recommendations provided focus less on the actual algorithms and other technology underpinning social networks and more on young users’ relationships with the tech. The APA suggests limiting kids’ screen time, for example, not necessarily because that inherently leads to mental health harms, but because it could interfere with a child’s sleep, which studies have associated with neurological development in adolescent brains.

Elsewhere, the advisory recommends young users minimize the amount of time they spend on platforms comparing themselves to others or viewing illegal or psychologically maladaptive behavior because those actions are also associated with psychological harm. Parents of young users, the advisory notes, should minimize the time kids are exposed to posts related to suicide, self-harm, disordered eating, or other dangerous topics. That sounds reasonable and intuitive on its face, but finding ways to encourage parents to actually adhere to those guidelines in practice without invading their child’s sense of privacy is another feat altogether.

The advisory—which comes hot on the heels of dozens of proposed state child online safety bills—attempts to strike a balance between acknowledging areas of potential harm and advocating for increased parental oversight while simultaneously avoiding painting all social media use with an overly broad brush.

Right away, the APA acknowledges social media “is not inherently beneficial or harmful to young people,” but rather is highly variable depending on the personal and psychological characteristics of the user accessing the services. Young users already struggling with body image issues or depression, for example, may be more prone to experience negative outcomes on platforms than their peers. On the flip side, the report notes, young people struggling with mental health issues or others from marginalized groups may actually benefit from the support networks and advice they receive from other like-minded people on social media which may actually aid psychological development.

“In most cases, the effects of social media are dependent on adolescents’ own personal and psychological characteristics and social circumstances,” the APA notes. “Intersecting with the specific content, features, or functions that are afforded within many social media platforms.”

Despite mounting pressure from lawmakers and child safety activists to do something about Big Tech’s perceived effect on child mental health, the APA report claims “causal associations” directly linking adolescent social media use to negative health outcomes are still a rarity in available research. Instead, the report says kids’ online experiences are more likely affected by who they choose to like and follow as well as the social contexts and environments in which they were raised.

“While politicians are racing ahead with proposals based on the premise that simply encountering content on social media is causing … harms, the APA notes that the actual research is far less conclusive and far more nuanced than lawmakers’ rhetoric,” Fight for the Future Executive Director Evan Greer said. “Without proper research, we can’t meaningfully evaluate the tradeoffs.”

A growing consensus around social media’s harms is emerging

Social science researchers and advocates have hotly debated the exact degree to which social media affects kids’ mental health for years, but some rudimentary consensus, and calls for action, have finally begun to emerge. Earlier this year, US Surgeon General Vivek Murthy told CNN he believed the 13-year-old sign-up age cutoff from many social media companies was simply too young because children that age is still “developing their identity.”

“I, personally, based on the data I’ve seen, believe that 13 is too early,” Murthy said. “If parents can band together and say you know, as a group, we’re not going to allow our kids to use social media until 16 or 17 or 18 or whatever age they choose, that’s a much more effective strategy in making sure your kids don’t get exposed to harm early.”

President Biden echoed that sentiment during his State of the Union address in February where he urged tech companies to limit the amount of data they collect from children and called on Congress to pass legislation banning targeting advertising against children.

“We must finally hold social media companies accountable for the experiment they are running on our children for profit,” Biden said

Lawmakers want online child safety laws but can’t agree on where to draw the line

A Politico report released last month estimates more than 27 different bills have been proposed in at least 16 different state houses all trying to get at the issue of kids’ online safety, though often from markedly different angles. Many of those bills coalesce around issues like restricting target advertising to children or banning allegedly addictive social media designs. The bills often diverge, however, around the issue of mandated parental guidance over kids to access these platforms.

Arkansas and Utah have both passed legislation requiring parents to grant permission for a child to use a social media account. In the latter case, the laws would go a step further and prohibit users under the age of 18 from accessing social media apps between 10:30 PM and 6:30 AM. Rights groups like Fight for the Future and The Center for Democracy & Technology vigorously oppose the age verification techniques and parental monitoring stipulations in the bills, and say they would “make kids less safe, and would be weaponized to attack.”

 

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Trump could cash out his DJT stock within weeks. Here’s what happens if he sells

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3 weeks ago

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August 23, 2024

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Former President Donald Trump is on the brink of a significant financial decision that could have far-reaching implications for both his personal wealth and the future of his fledgling social media company, Trump Media & Technology Group (TMTG). As the lockup period on his shares in TMTG, which owns Truth Social, nears its end, Trump could soon be free to sell his substantial stake in the company. However, the potential payday, which makes up a large portion of his net worth, comes with considerable risks for Trump and his supporters.

Trump’s stake in TMTG comprises nearly 59% of the company, amounting to 114,750,000 shares. As of now, this holding is valued at approximately $2.6 billion. These shares are currently under a lockup agreement, a common feature of initial public offerings (IPOs), designed to prevent company insiders from immediately selling their shares and potentially destabilizing the stock. The lockup, which began after TMTG’s merger with a special purpose acquisition company (SPAC), is set to expire on September 25, though it could end earlier if certain conditions are met.

Should Trump decide to sell his shares after the lockup expires, the market could respond in unpredictable ways. The sale of a substantial number of shares by a major stakeholder like Trump could flood the market, potentially driving down the stock price. Daniel Bradley, a finance professor at the University of South Florida, suggests that the market might react negatively to such a large sale, particularly if there aren’t enough buyers to absorb the supply. This could lead to a sharp decline in the stock’s value, impacting both Trump’s personal wealth and the company’s market standing.

Moreover, Trump’s involvement in Truth Social has been a key driver of investor interest. The platform, marketed as a free speech alternative to mainstream social media, has attracted a loyal user base largely due to Trump’s presence. If Trump were to sell his stake, it might signal a lack of confidence in the company, potentially shaking investor confidence and further depressing the stock price.

Trump’s decision is also influenced by his ongoing legal battles, which have already cost him over $100 million in legal fees. Selling his shares could provide a significant financial boost, helping him cover these mounting expenses. However, this move could also have political ramifications, especially as he continues his bid for the Republican nomination in the 2024 presidential race.

Trump Media’s success is closely tied to Trump’s political fortunes. The company’s stock has shown volatility in response to developments in the presidential race, with Trump’s chances of winning having a direct impact on the stock’s value. If Trump sells his stake, it could be interpreted as a lack of confidence in his own political future, potentially undermining both his campaign and the company’s prospects.

Truth Social, the flagship product of TMTG, has faced challenges in generating traffic and advertising revenue, especially compared to established social media giants like X (formerly Twitter) and Facebook. Despite this, the company’s valuation has remained high, fueled by investor speculation on Trump’s political future. If Trump remains in the race and manages to secure the presidency, the value of his shares could increase. Conversely, any missteps on the campaign trail could have the opposite effect, further destabilizing the stock.

As the lockup period comes to an end, Trump faces a critical decision that could shape the future of both his personal finances and Truth Social. Whether he chooses to hold onto his shares or cash out, the outcome will likely have significant consequences for the company, its investors, and Trump’s political aspirations.

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Arizona man accused of social media threats to Trump is arrested

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3 weeks ago

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August 23, 2024

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Cochise County, AZ — Law enforcement officials in Arizona have apprehended Ronald Lee Syvrud, a 66-year-old resident of Cochise County, after a manhunt was launched following alleged death threats he made against former President Donald Trump. The threats reportedly surfaced in social media posts over the past two weeks, as Trump visited the US-Mexico border in Cochise County on Thursday.

Syvrud, who hails from Benson, Arizona, located about 50 miles southeast of Tucson, was captured by the Cochise County Sheriff’s Office on Thursday afternoon. The Sheriff’s Office confirmed his arrest, stating, “This subject has been taken into custody without incident.”

In addition to the alleged threats against Trump, Syvrud is wanted for multiple offences, including failure to register as a sex offender. He also faces several warrants in both Wisconsin and Arizona, including charges for driving under the influence and a felony hit-and-run.

The timing of the arrest coincided with Trump’s visit to Cochise County, where he toured the US-Mexico border. During his visit, Trump addressed the ongoing border issues and criticized his political rival, Democratic presidential nominee Kamala Harris, for what he described as lax immigration policies. When asked by reporters about the ongoing manhunt for Syvrud, Trump responded, “No, I have not heard that, but I am not that surprised and the reason is because I want to do things that are very bad for the bad guys.”

This incident marks the latest in a series of threats against political figures during the current election cycle. Just earlier this month, a 66-year-old Virginia man was arrested on suspicion of making death threats against Vice President Kamala Harris and other public officials.

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Trump Media & Technology Group Faces Declining Stock Amid Financial Struggles and Increased Competition

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3 weeks ago

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August 20, 2024

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Tech News in Canada

Trump Media & Technology Group’s stock has taken a significant hit, dropping more than 11% this week following a disappointing earnings report and the return of former U.S. President Donald Trump to the rival social media platform X, formerly known as Twitter. This decline is part of a broader downward trend for the parent company of Truth Social, with the stock plummeting nearly 43% since mid-July. Despite the sharp decline, some investors remain unfazed, expressing continued optimism for the company’s financial future or standing by their investment as a show of political support for Trump.

One such investor, Todd Schlanger, an interior designer from West Palm Beach, explained his commitment to the stock, stating, “I’m a Republican, so I supported him. When I found out about the stock, I got involved because I support the company and believe in free speech.” Schlanger, who owns around 1,000 shares, is a regular user of Truth Social and is excited about the company’s future, particularly its plans to expand its streaming services. He believes Truth Social has the potential to be as strong as Facebook or X, despite the stock’s recent struggles.

However, Truth Social’s stock performance is deeply tied to Trump’s political influence and the company’s ability to generate sustainable revenue, which has proven challenging. An earnings report released last Friday showed the company lost over $16 million in the three-month period ending in June. Revenue dropped by 30%, down to approximately $836,000 compared to $1.2 million during the same period last year.

In response to the earnings report, Truth Social CEO Devin Nunes emphasized the company’s strong cash position, highlighting $344 million in cash reserves and no debt. He also reiterated the company’s commitment to free speech, stating, “From the beginning, it was our intention to make Truth Social an impenetrable beachhead of free speech, and by taking extraordinary steps to minimize our reliance on Big Tech, that is exactly what we are doing.”

Despite these assurances, investors reacted negatively to the quarterly report, leading to a steep drop in stock price. The situation was further complicated by Trump’s return to X, where he posted for the first time in a year. Trump’s exclusivity agreement with Trump Media & Technology Group mandates that he posts personal content first on Truth Social. However, he is allowed to make politically related posts on other social media platforms, which he did earlier this week, potentially drawing users away from Truth Social.

For investors like Teri Lynn Roberson, who purchased shares near the company’s peak after it went public in March, the decline in stock value has been disheartening. However, Roberson remains unbothered by the poor performance, saying her investment was more about supporting Trump than making money. “I’m way at a loss, but I am OK with that. I am just watching it for fun,” Roberson said, adding that she sees Trump’s return to X as a positive move that could expand his reach beyond Truth Social’s “echo chamber.”

The stock’s performance holds significant financial implications for Trump himself, as he owns a 65% stake in Trump Media & Technology Group. According to Fortune, this stake represents a substantial portion of his net worth, which could be vulnerable if the company continues to struggle financially.

Analysts have described Truth Social as a “meme stock,” similar to companies like GameStop and AMC that saw their stock prices driven by ideological investments rather than business fundamentals. Tyler Richey, an analyst at Sevens Report Research, noted that the stock has ebbed and flowed based on sentiment toward Trump. He pointed out that the recent decline coincided with the rise of U.S. Vice President Kamala Harris as the Democratic presidential nominee, which may have dampened perceptions of Trump’s 2024 election prospects.

Jay Ritter, a finance professor at the University of Florida, offered a grim long-term outlook for Truth Social, suggesting that the stock would likely remain volatile, but with an overall downward trend. “What’s lacking for the true believer in the company story is, ‘OK, where is the business strategy that will be generating revenue?'” Ritter said, highlighting the company’s struggle to produce a sustainable business model.

Still, for some investors, like Michael Rogers, a masonry company owner in North Carolina, their support for Trump Media & Technology Group is unwavering. Rogers, who owns over 10,000 shares, said he invested in the company both as a show of support for Trump and because of his belief in the company’s financial future. Despite concerns about the company’s revenue challenges, Rogers expressed confidence in the business, stating, “I’m in it for the long haul.”

Not all investors are as confident. Mitchell Standley, who made a significant return on his investment earlier this year by capitalizing on the hype surrounding Trump Media’s planned merger with Digital World Acquisition Corporation, has since moved on. “It was basically just a pump and dump,” Standley told ABC News. “I knew that once they merged, all of his supporters were going to dump a bunch of money into it and buy it up.” Now, Standley is staying away from the company, citing the lack of business fundamentals as the reason for his exit.

Truth Social’s future remains uncertain as it continues to struggle with financial losses and faces stiff competition from established social media platforms. While its user base and investor sentiment are bolstered by Trump’s political following, the company’s long-term viability will depend on its ability to create a sustainable revenue stream and maintain relevance in a crowded digital landscape.

As the company seeks to stabilize, the question remains whether its appeal to Trump’s supporters can translate into financial success or whether it will remain a volatile stock driven more by ideology than business fundamentals.

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