Agency homing in on social media companies’ data collection
WASHINGTON (AP) — Federal regulators are ordering Facebook, Twitter, Amazon, TikTok’s parent and five other social media companies to provide detailed information on how they collect and use consumers’ personal data and how their practices affect children and teens. The Federal Trade Commission’s action announced Monday goes to the heart of the tech industry’s lucrative business model: harvesting data from platform users and making it available to advertisers so they can pinpoint specific consumers to target. The agency plans to use the information, due in 45 days, for a comprehensive study. The other five companies are Reddit, Snap, Discord, WhatsApp, which is owned by Facebook, and Google’s YouTube.