Social media does not cause harm in of itself. People can use social media in a way that can be harmful, but you can say that about absolutely anything. Plenty of people that are not tech people manage to use social media to promote themselves, their business etc. People use it as a place of business. It is a mixed bag, like most things are.
You are (like the government) pre-supposing that is the case and basing your whole argument upon that.
As for Offense speech/Free speech. What constitutes what is and isn't offensive is subjective. That is why people argue for a free speech standard. Pretending that it is right to restrict unpopular speech (this is what is really meant by offensive) because the majority agree is completely asinine, as things that were offensive in the past may not be offensive in the future and vice versa.
The reason we don't have a decent tech industry in the UK (the tech industry here sucks) is because we don't have things like a Section 230 protections. Imposing legal responsibility will make it more difficult for anyone to make anything interesting in the UK.
> I don't recall the Online Safety Act regulating the financial industry - could you point out which parts of the legislation relate to that? I do, however, agree that we do have excessive restrictions on access to certain financial services.
You completely misunderstood the point. The point is that we can predict from similar laws in another industry (somewhat related industry) what the effect maybe.
As for Offense speech/Free speech. What constitutes what is and isn't offensive is subjective. That is why people argue for a free speech standard. Pretending that it is right to restrict unpopular speech (this is what is really meant by offensive) because the majority agree is completely asinine, as things that were offensive in the past may not be offensive in the future and vice versa.
The reason we don't have a decent tech industry in the UK (the tech industry here sucks) is because we don't have things like a Section 230 protections. Imposing legal responsibility will make it more difficult for anyone to make anything interesting in the UK.
> I don't recall the Online Safety Act regulating the financial industry - could you point out which parts of the legislation relate to that? I do, however, agree that we do have excessive restrictions on access to certain financial services.
You completely misunderstood the point. The point is that we can predict from similar laws in another industry (somewhat related industry) what the effect maybe.