Thirty-three states have banded together to sue Meta, alleging that the company was exploiting its young users on Instagram and Facebook for profit, including by collecting data from children without parental consent. Four of those states—California, New Jersey, Colorado and Kentucky—also claim that the company misled consumers about the addictive design features on the platforms, thereby causing mental health problems in children who got hooked from an early age.
The damages requested by those four states add up to a whopping $1.4 trillion, Meta said in a recent court filing, a figure that would allegedly go even higher with the other penalties the attorneys general seek to add. The number is high by many standards but especially when compared to the company’s market capitalization, which is just above $1.5 trillion.
