A few key paragraphs of context:

"The EU has its own sweeping plans. It’s taking bold steps with its Digital Services Act (DSA) that, from the end of this month, will force the biggest online platforms — TikTok, Facebook, Youtube — to open up their systems to scrutiny by the European Commission and prove that they’re doing their best to make sure their products aren’t harming kids.

The penalty for non-compliance? A hefty fine of up to six percent of companies’ global annual revenue."

"They will have to hand in to the Digital Services Act watchdog — the European Commission — their first yearly assessment of the major impact of their design, algorithms, advertising and terms of services on a range of societal issues such as the protection of minors and mental wellbeing. They will then have to propose and implement concrete measures under the scrutiny of an audit company, the Commission and vetted researchers.

Platforms will also be banned from tracking kids’ online activity to show them personalized advertisements. Manipulative designs such as never-ending timelines to glue users to platforms have been connected to addictive behavior, and will be off limits for tech companies."

Seems like a generally good thing, not too overly controlling like China’s recent social media regulation and seems to be more focused on gathering data for how these platforms may harm people, especially young people, and then do enforcement from there.

I also like the enforcement being a percent of annual revenue not just a flat fine that would barely hurt them.