Media
Lawmakers try to keep kids from social media, porn
To address the harmful effects of pornography and social media on children, states are passing laws meant to keep kids off certain sites and to block them from adult content.
But the efforts face major hurdles — and real questions about whether the proposed solutions would even work.
Some of the measures would require parental permission for minors to access certain websites. Others call for tech companies to install obscenity filters on devices sold to minors. Lawmakers have passed legislation in both blue and red states, from California to Texas.
Two of the most stringent laws already face legal challenges over free speech and privacy considerations.
Critics also say the laws go too far in undermining parental rights – ceding control to the state. And there are the practical concerns that kids, being generally more technologically savvy than their parents, will find ways to circumvent even the most tightly drawn laws.
“It’s something more like, ‘I’m doing something about tech [problems]’ than a real crackdown,” said Max Rieper, legislative analyst for MultiState, a government relations firm focusing on states. “Kids know how to get around these laws,” he added, mentioning virtual private networks (VPNs) as just one way.
Rieper suggested a federal law would be somewhat more effective than a patchwork of state laws or regulations. But a bill in Congress to tackle underage use of social media has gotten nowhere.
Harmful social media
Social media dangers for kids are well documented. U.S. Surgeon General Vivek Murthy released an advisory last month saying that social media can harm the “mental health and well-being of children and adolescents.” He noted that social media use among kids and teens is “nearly universal,” with up to 95% of 13- to 17-year-olds reporting using a social media platform, such as Facebook, Twitter, Instagram, TikTok and the like.
State lawmakers have been trying to address the issue. California last year enacted into law a sweeping measure designed to force tech companies to install child protections — such as turning on the highest level of privacy settings and forbidding collection of children’s precise locations unless the user is aware that such data is being collected — on products including games, social networks, voice assistants and educational digital learning devices.
Opponents said the new law — the first of its kind in the country — is too broad and impossible to enforce.
The law calls for civil penalties, including fines, for companies that fail to comply. Some manufacturers suggested they might have to retool products that are sold across the country rather than install special software for California.
The technology trade group NetChoice sued in December to block the law. Democratic Gov. Gavin Newsom, citing the surgeon general’s advisory, called on the group to drop the suit.
Lawmakers in Florida, Idaho, Iowa, Maryland, Montana, South Carolina, Tennessee and Texas filed bills this year to require companies to install obscenity filters on all types of devices that can be turned on when sold if the device will be used by a minor, according to tracking by MultiState. However, the Florida, Idaho and Montana bills died.
Utah attempt
Utah Republican Gov. Spencer Cox signed similar legislation in 2021, but the bill included a requirement that it will not take effect unless at least five additional states adopt their own bills. So far, none has, although a bill did pass the Alabama House and is now in the state Senate.
Utah is the latest state to enact two laws aimed at blocking minors from porn sites and keeping kids away from social media unless they have explicit parental sign-off. Parental permission laws require proof, such as a digital ID, that the user is a legal adult before being allowed on social media platforms.
If a Utah minor wants to sign up, companies must get parental consent. The law also requires the companies to lock minors out of social media accounts between 10:30 p.m. and 6:30 a.m., based on the location of the user’s device, unless a parent specifies different hours.
In April, Arkansas Republican Gov. Sarah Huckabee Sanders signed a measure that bars social media companies from allowing minors to hold accounts without parental consent.
A Texas parental consent bill is on the governor’s desk but was unsigned as of June 7.
And Mississippi Republican Gov. Tate Reeves in April signed two bills designed to block minors’ access to online pornography.
Some are criticizing the legislation as an unconstitutional assault on freedom of speech.
As soon as the Utah porn age verification bill became law, a group called the Free Speech Coalition, a trade association for the pornography industry, filed suit asking for enforcement to be halted.
“We filed suit because this is blatantly unconstitutional, and two, it’s an unreasonable restriction on otherwise legal speech,” Mike Stabile, director of public affairs for the group, said in a phone interview. “Not only does it affect what people think of as the adult industry, it affects sex educators and free speech. We want to protect kids from accessing adult content as well, but this is ineffective and potentially dangerous.”
The court has not ruled yet on the coalition’s request for an injunction halting enforcement of the law.
Also shortly after the Utah law took effect, the adult movie site Pornhub stopped doing business in the state. In a video to consumers who tried to log on from Utah, the company said restricting access by using identifying information is the wrong way to go, and endorsed device-control at the point of sale for minors instead.
After Pornhub shut down in Utah, Google searches for virtual private networks, which allow a user to mask their location and other identifying data, spiked in the state, according to Business Insider. Minors who want to access sites limited under the new state law can use VPNs as a workaround.
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Utah Republican state Sen. Mike McKell, author of the social media bill, is confident the measure can withstand legal scrutiny. He also said questions over enforcement can be tackled with class-action lawsuits against social media sites that fail to provide mechanisms to keep kids out without parental permission.
The law already provides that media companies that don’t comply can be fined by the State Division of Consumer Protection.
“I’ve been concerned with social media for a long time,” he said in a phone interview. “We have a mental health crisis and Utah is no exception.”
He said he is aware that the new law “will never capture every kid,” but said it put the onus on tech companies to ascertain the age of people who access their sites. “I’m guessing tech companies will want to avoid class action lawsuits and I’m guessing they will help us figure it out.”
McKell said social media sites already collect private information, so requiring them to ask users for proof of age isn’t much different.
And, addressing the issue of parental control being ceded to the government, he said he believes the new law “empowers” parents to keep their kids off social media if they want to. “You need parental permission to get a library card; if you want your kid to go skiing, you need parental permission.”
Other attempts
In Louisiana, a bill calling for fines against porn sites that fail to verify users aren’t minors is on the governor’s desk; a law requiring IDs to view adult material already went into effect last year. Democratic Gov. John Bel Edwards is expected to sign the fines bill.
Carl Szabo, vice president and general counsel at NetChoice, said in a phone interview that while the bills are well intentioned, “at the end of the day, my wife and I should be the ones deciding what’s appropriate for my family, not somebody in a state capital, not somebody in Silicon Valley.”
Szabo called for requiring social media education in schools and making the same information available to parents so they can learn too, pointing to laws in two states. Florida’s law calls for including such units in courses on computer use and literacy. Virginia law requires lessons on internet use and safety.
He called parental permission laws and age verification laws naïve.
“It’s the ‘burying the head in the sand’ approach to parenting. Any parent who thinks they are smarter technically than a 17-year-old doesn’t know their 17-year-old.”
Szabo, who has two children, ages 7 and 10, said he has learned from personal experience how savvy kids can be. He bought a digital picture frame so he could look at rotating digital pictures in his home. The kids figured out how to get on YouTube from the picture frame, forcing him to remove the item from his home.
“There’s a reason it’s now in my office,” he said.
Stateline is part of States Newsroom, a network of news bureaus supported by grants and a coalition of donors as a 501c(3) public charity. Stateline maintains editorial independence. Contact Editor Scott Greenberger for questions: [email protected]. Follow Stateline on Facebook and Twitter.
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.
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.
Media
Trump Media & Technology Group Faces Declining Stock Amid Financial Struggles and Increased Competition
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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