Meta, X, TikTok, Snap and Discord face growing appetite in Congress for tighter social media regulation

CNBC January 31, 2024
Jonathan Vanian

Key Points

– Regulating social media companies like Meta, TikTok, and X (formerly Twitter) was a rare issue of bipartisan agreement during a Senate hearing on child safety.

– “We could regulate you out of business if we wanted to,” a frustrated Sen. Thom Tillis, R-N.C. told social media executives.

– Despite fireworks, there were few signs the hearing would change the regulatory outlook for the companies in the near term.

“We could regulate you out of business if we wanted to,” a frustrated Sen. Thom Tillis, R-N.C. told Meta CEO Mark Zuckerberg, TikTok CEO Shou Zi Chew, X CEO Linda Yaccarino and other top social media company leaders Wednesday during a Senate hearing.

Tillis and other lawmakers accused the...

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