💬 Quoted… “Social media companies as they’re currently designed and operate are dangerous products.”

• The CEOs of five major social media companies – Meta, TikTok, X, Discord, and Snap – testified before the Senate yesterday in a hearing about the online safety of kids under 13. During the testimony, lawmakers on both sides of the aisle called out the CEOs for alleged shortcomings related to the safety of young people on their respective platforms. Lawmakers also used the hearing to push for new laws aimed at reducing the exploitation of kids online – including the STOP CSAM Act, which would allow victims of child exploitation to sue tech platforms.

📈 Stat of the Day: The US economy grew an estimated 2.5% last year – more than any other advanced economy by a wide margin (Japan placed second at 1.9%). Experts say the US stands out from the rest of the world due to a strong labor force and an innovative corporate sector.

🤔 Did You Know?... Ruby and sapphire gemstones are both created from the same material – Corundum. The only difference is contaminants that give the stone its color.

📰 Worth a Read: 23andMe’s Fall From $6 Billion to Nearly $0 → (WSJ)