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The Australian government has just announced its intention to ban social media for children and early teens. Social media is then added to a list of restricted activities, technologies, content and products deemed unsafe for kids. But social media is not like cigarettes and alcohol. While there is no safe way to consume cigarettes or alcohol, social media can offer a positive—even transformative—experience by helping individuals stay connected with distant family and friends or by providing access to a safe and supportive community. In their current form, social media technologies have been around for about 20 years. However, the problem is not the technology - the problem is how social media platforms have monetised the social media experience. Meta, a social media company, is among the ten most valuable companies in the world. Apple, which brought the social media experience to every pocket, is the most valuable company in the world. But even against huge revenues, social media platforms have failed over almost two decades to invest in creating a safe environment for the most vulnerable among their users. Their R&D has instead been directed at making the content they distribute more attractive (think about the Metaverse and virtual reality headsets but also Generative AI) and more addictive.