Snap will start checking many users’ ages in Australia as it prepares for a world-first social media ban for under-16s next month https://t.co/goJhWANwdB ...

Core Insights - Snap Inc. reported third-quarter earnings that exceeded analysts' expectations, leading to a more than 20% increase in share price, alongside a $500 million stock repurchase program [1] - The company announced a partnership with Perplexity AI, which will integrate conversational search into Snapchat, with expected revenue contribution starting in 2026 [2][3] Financial Performance - For Q3, Snap's sales grew by 10% year-over-year, reaching $1.51 billion, compared to the expected $1.49 billion [3][8] - The net loss for Q3 was $104 million, an improvement from a net loss of $153 million in the same quarter last year [3] - Adjusted EBITDA for Q3 was $182 million, surpassing the projected $125 million [3] - For Q4, Snap anticipates sales between $1.68 billion and $1.71 billion, with a midpoint of $1.695 billion, slightly above Wall Street's expectation of $1.69 billion [2][4] User Metrics and Engagement - Snap reported 477 million global daily active users, slightly above the expected 476 million [8] - The global average revenue per user (ARPU) was $3.16, exceeding the expected $3.13 [8] - The company warned that new regulations, particularly regarding age verification, could negatively impact user engagement metrics [4][5][6] Regulatory Environment - New laws in Australia and the U.S. are set to impose penalties on social media companies for failing to prevent underage users from accessing their platforms [5][6] - Snap is preparing for upcoming platform-level age verification measures from Apple and Google, which may further affect user metrics [6][7] Market Context - The earnings report comes amid a broader trend where major tech companies like Meta, Alphabet, and Amazon have reported strong digital advertising sales [10] - Snap's challenges with user engagement metrics are contrasted with the robust performance of other tech firms in the digital advertising space [9][10]

AI Ethics & Responsibility - OpenAI is considering allowing users to create erotica with ChatGPT [1] - Sam Altman clarified that OpenAI prioritizes safety over privacy and freedom, especially for young users, and is cautious about mental health [1] - OpenAI does not want to be the "elected moral police of the world," drawing a parallel to R-rated movies and societal boundaries [1] - The industry questions the responsibility of technology creators for how their tools are used [1] Market & Competitive Landscape - The AI industry is seeing a trend towards "AI girlfriends" and similar applications, which are considered "sticky" [1] - Microsoft's early AI efforts with Bing (Copilot) and its interactions with users are still remembered [1]

Core Insights - Trust Stamp's biometric-binding technology addresses the failures of current age-verification laws, particularly in the UK and the impending crisis in the US due to similar legislation [1][2][3] Industry Overview - The UK's Online Safety Act has proven ineffective shortly after enforcement began, highlighting a compliance crisis for companies in the US facing similar regulations [2] - The age verification software market is projected to grow significantly, from $1.45 billion in 2024 to $5.12 billion by 2033, indicating a rising demand for effective solutions [3] Company Technology - Trust Stamp's TrustedAge™ technology offers a biometric key that ensures only the rightful user can access age-restricted content, addressing the flaws of traditional age verification methods [4][5] - The technology utilizes a live biometric capture for each session, making credentials non-transferable and enhancing compliance by closing loopholes that expose companies to fines [5][6] Research and Validation - Trust Stamp's novel approach, combining Zero Knowledge Proofs with Biometric Bound Credentials, has been recognized for its contributions and accepted for presentation at the IEEE-sponsored BIOSIG 2025 conference [5] - The technology was tested in Australia's Age Assurance Technology Trial, demonstrating its effectiveness in age verification with a Mean Predicted Age of 18.2 against a Mean Actual Age of 17.81 [5] Strategic Positioning - Trust Stamp positions itself as a solution provider amidst a compliance nightmare, with potential fines reaching up to $10,000 per incident for companies relying on outdated systems [5] - The company's approach enhances user trust and sets a new benchmark for security in digital identity systems by verifying users directly rather than relying on devices [6]

Group 1 - Australia will not require social media platforms to verify the ages of all users under the new ban prohibiting access for children under 16, instead mandating reasonable steps to prevent underage access [1] - Social media companies have criticized the laws as vague and rushed, with Communications Minister Anika Wells stating that platforms must deactivate accounts belonging to underage users [2] - The guidelines suggest a multilayered approach to age checking rather than universal verification, with no single solution deemed perfect for enforcement [3] Group 2 - Social media companies could face fines of up to 49.5 million Australian dollars for violations of the new rules [3] - An independent study found that age verification can be conducted privately and effectively, while additional rules are being introduced to protect children from harmful online content [4] - Roblox Corporation has agreed to implement new safeguards against adult grooming of children in Australia [4]

Regulatory Landscape - Australia's proposed social media ban for under-16s may allow platforms like Facebook and TikTok more flexibility in age verification processes [1]

As age and identity verification laws become more mainstream, this legislation could have a dire impact on privacy. https://t.co/7dC4Ck3bQ8 ...

Core Points - Roblox has committed to implementing age verification mechanisms to enhance safety for its young user base, particularly those under 13 years old [3][4] - The platform currently has around 100 million daily users, with approximately 40% being under the age of 13 [4] - Recent allegations against Roblox include facilitating child exploitation and failing to protect young users from sexual predators, leading to increased scrutiny and legal challenges [5] Group 1 - The company plans to expand age estimation for all users accessing on-platform communication features by the end of the year [3][4] - New systems will be launched to limit communication between adults and minors unless they have a real-world connection [4] - Roblox has faced criticism for not adequately safeguarding its youngest players, prompting the need for enhanced parental controls and content labeling [5] Group 2 - The announcement of age controls aligns with global trends, as various governments are tightening online age regulations [6][7] - The Online Safety Act in Britain mandates strict age controls for websites and social networks, with similar measures being considered in France and other EU countries [7]

Industry Impact - The U_K's new age-check rules are significantly impacting traffic to porn sites [1]

Legal & Regulatory - Supreme Court allows Mississippi to enforce social media age verification law pending legal challenge [1] - Justice Kavanaugh expresses skepticism about the law's constitutionality [1] Social Media - Mississippi law requires social media sites to verify user age or obtain parental consent [1]