Young people are at the forefront of a new addiction, and now tech companies are scrambling to avoid being targeted by punitive legislation.
Smartphone addiction has led to more than a dozen bills in the U.S. this year, as demands intensify for technologists to address digital safety, especially appropriate age verification.
“Social media addiction has evolved into more than just a health issue and is now also a business risk to the companies developing these platforms” Barclays Capital analysts said in a note Monday. The effects are likely to fall squarely on the shoulders of Facebook parent Meta Platforms Inc.
META,
-3.55%,
Snap Inc.
SNAP,
+3.60%
and Alphabet Inc.’s
GOOGL,
-3.27%
GOOG,
-3.19%
Google, along with some hardware companies who have designed their products to appeal to youths and gaming developers, the investment bank warns.
Barclays Capital defines smartphone addiction as “excessive dependency or obsession that interferes with daily activities and promotes distress and anxiety upon withdrawal.”
Meanwhile, the irrational fear of being without your mobile phone is being called “nomophobia.”
Children are most vulnerable to smartphone addiction, largely through mobile gaming, social media and videos. Research indicates that overuse of smartphones can affect development in adolescents and increase the risk of loneliness, obesity and depression. Nonetheless, the average age that children get their first smartphone continues to decline, to age 10 in 2016 from age 12 in 2012.
The issue has led to the passage of laws in Arkansas, Texas and Utah, and in the introduction of bipartisan bills in the U.S. Senate, including the Kids Online Safety Act and the Protecting Kids on Social Media Act.
“We believe the topic is timely, as concerns about social media use have also
been put into the spotlight with 200+ lawsuits filed against social media companies
… and ongoing academic research highlighting the negative impacts of social media,” the Barclays analysts wrote.
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