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During a Senate hearing, lawmakers accused executives from Meta, X, TikTok, Snap, and Discord of failing to protect children from sexual exploitation on their platforms. The hearing was emotional, with parents of targeted children in attendance. Although both Republican and Democratic senators believe that social media firms are harming young people, it will take time for any legislation to be passed. The hearing focused primarily on Meta due to its user base, privacy issues, and recent lawsuits. Meta’s shares remained relatively flat after the hearing, indicating that Wall Street does not expect significant financial impacts on the tech firms.

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