Regulation is coming

California’s landmark law to protect user data, the California Consumer Privacy Act, will take effect on Jan. 1. The legislation is meant to protect people’s information as they spend more time online, giving them more knowledge about what data is being collected about them, and where it is being sold and disclosed to.

This is just the tipping point for the largely unregulated social media and online world. As people become more aware of how their online activity is being used, whether it is to target advertising or political messages, they will put more pressure on government officials to protect their personal information. At the same time companies that rely on data for advertising, especially giants like Facebook and Google, will have to work with legislators to comply while growing their businesses.

Teens will become more conscious about the emotional effect of social media

With younger generations relying on mobile phones as their communication conduits, they are more online than any previous generation. About 95 percent of teens have access to a smartphone ⁠— and a little under half of them are online on a “near-constant basis” according to a Pew study.

Interesting enough, a quarter of teens told Pew they felt social media had negative effects on their lives. Facebook use itself has been linked to unhappiness, while a University of Pennsylvania study showed that limiting social media use to 30 minutes a day could lead to a decrease in feeling lonely or depressed.

Armed with the knowledge about the positives and negatives of social media, since there is more research than ever before, today’s teens will be more aware of the effects having an Instagram-perfect life could have on their well-being.

TikTok Won’t Stop

Teens still watch about 20 hours of television a week, but they’re also more likely to find their entertainment through other avenues like YouTube. A lot of this content relies on user-generated material, leading to the rise of creator-made shows, and clips and memes becoming the viral watercooler topics of today.

Enter TikTok: An entertainment platform perfect for people with short attention spans but a lot of creative energy. Instead of simple passive comments about the world or mundane facts about your day, TikTok allows people to share performances to help inspire, entertain, or get people talking. For the creators themselves, it’s one way to stand out in a crowded world and know you made a difference thanks to view counts. It’s why the platform is poised to take over in the next decade.

Welcome the era of social commerce

Online retailers have always struggled with getting people to buy things right after they see it online. Shoppers usually see an ad, put it in a digital cart and maybe come back to purchase it later on, if at all.

Thanks to Instagram however, companies are having more success with people purchasing things directly from an ad. As the behavior to click-through advertisements to purchase an item immediately becomes more comment, more ad dollars will flow from traditional brick-and-mortar store marketing to digital advertising inside social feeds. And, as messaging apps become more prominent, a greater number of people will get used to chatting with chatbots to get that customer experience rather than talk to a salesperson in-store.

Share:
More In Business
U.S Chamber of Commerce Hosts Virtual Event 'Developing the Black-Owned Business Ecosystem'
For black history month, Cheddar is highlighting black business leaders who are driving the need for representation forward. On February 10, the U.S. Chamber of Commerce hosted an event called 'Developing the Black-Owned Business Ecosystem.' The virtual event was organized under the lobbying group's two initiatives -- the Equality of Opportunity Initiative, and the Coalition to Back Black Businesses. The event highlighted the developments needed to develop more black-owned businesses in the U.S. Dr. Anthony Wilbon, Dean of the School of Business at Howard University, joined Cheddar News' Closing Bell to discuss his experience as a speaker at the event.
Real Estate Key to Closing Wealth Gap Even as Black Spending Power Hit $1.6 Trillion
Black spending power reached a record $1.6 Trillion in a 2021 report from the University of Georgia Selig Center for Economic Growth. Ayesha Selden, certified financial planner, breaks down why real estate is the key to closing the racial wealth gap and how Black Americans are using social media to improve financial literacy. "If we look at home ownership as being a primary driver of wealth, when you look at the equity that Americans have in their homes, that equity can be used to buy additional assets like other rental properties. That equity can be used to educate our children," Selden said, noting that lower rates of home ownership meant Black Americans tend to incur more debt on average for their student loans.
Does Owning Crypto Really Make Daters More Desirable?
A new survey from Etoro suggests that talking crypto might actually help Americans on the dating scene find love...or at least land another date. The survey found that 74% of respondents would be more interested in going on a second date with a person that pays the bill in Bitcoin. Callie Cox, Etoro's U.S. investment analyst, joined Cheddar News to discuss.
Stocks Close Lower to Begin Week as Russia-Ukraine Tensions Weigh on Sentiment
Art Hogan, Chief Market Strategist at National Securities, joined Cheddar News' Closing Bell, where he says investors are taking a wait-and-see approach when it comes to the situation between Russia and the Ukraine and elaborates on the impact higher oil prices stemming from the conflict would have on the market.
Load More