Meta's cut a landmark US trial over teen social media addiction short - agreeing to pay 18-billion US dollars in a settlement deal.

29 US states brought the case against the Instagram and Facebook owner in a California federal court.

As part of the agreement - the social media giant will include daily limits and night-time blocks for teenage users on its platforms.

New York correspondent Mitch McCann told Ryan Bridge it's unclear if the changes will be rolled out internationally.

He says interestingly the deal means Meta doesn't have to admit any guilt - at the cost of a lot of money. 

Meta's cut a landmark US trial over teen social media addiction short - agreeing to pay 18-billion US dollars in a settlement deal.
29 US states brought the case against the Instagram and Facebook owner in a California federal court.
As part of the agreement - the social media giant will include daily limits and night-time blocks for teenage users on its platforms.
New York correspondent Mitch McCann told Ryan Bridge it's unclear if the changes will be rolled out internationally.
He says interestingly the deal means Meta doesn't have to admit any guilt - at the cost of a lot of money.&nbsp;

A fresh and intelligent start to your day - catch the very latest international and domestic news developments, sport, entertainment and business on Early Edition with Ryan Bridge, on Newstalk ZB.

A fresh and intelligent start to your day - catch the very latest international and domestic news developments, sport, entertainment and business on Early Edition with Ryan Bridge, on Newstalk ZB.

Early Edition with Ryan Bridge

Mitch McCann: US correspondent on Meta agreeing to pay 18 billion US dollars in a settlement deal

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/a048574f-2d08-430c-b386-b4b2012ec0e2/transcript

How much do you really want the value of your property to fall? 

Plenty of us say we want cheaper house prices, but do we really mean it?

Once you own a house, you usually have mortgage on it. The less your house is worth, the less equity you have.

Your net worth goes backwards.

In New Zealand, half of the average household’s wealth is land and property.

That is now worth 1.9% less today than it was a year ago.

Overall household wealth in this country has basically been flat for four years.

That means we’re not getting richer and it’s because house prices have been soft.

Is this what you want more of? 

This election there are parties planning to tax those assets. From capital gains to land taxes. That is likely to mean even lower prices.

When this happens, we get a bit worried about our situation in life and we get gun-shy with the debit card.

We stop buying stuff. We’re less confident. The economy slows down as a result. 

Again, is this what we really want?

Now I know what you’re thinking, that’s all fine unless you’re trying to buy a house.

Which is fair.

Except that house prices are now the cheapest they’ve been in a decade.

Cotality says the national house value has dropped to 6.7 times income.

In 2021, it was nearly 10 times your income.

In Auckland, you can’t sell an apartment or townhouse for love nor money.

The question now is how low is too low?

How much do you really want the value of your property to fall?&nbsp;
Plenty of us say we want cheaper house prices, but do we really mean it?
Once you own a house, you usually have mortgage on it. The less your house is worth, the less equity you have.
Your net worth goes backwards.
In New Zealand, half of the average household’s wealth is land and property.
That is now worth 1.9% less today than it was a year ago.
Overall household wealth in this country has basically been flat for four years.
That means we’re not getting richer and it’s because house prices have been soft.
Is this what you want more of?&nbsp;
This election there are parties planning to tax those assets. From capital gains to land taxes. That is likely to mean even lower prices.
When this happens, we get a bit worried about our situation in life and we get gun-shy with the debit card.
We stop buying stuff. We’re less confident. The economy slows down as a result.&nbsp;
Again, is this what we really want?
Now I know what you’re thinking, that’s all fine unless you’re trying to buy a house.
Which is fair.
Except that house prices are now the cheapest they’ve been in a decade.
Cotality says the national house value has dropped to 6.7 times income.
In 2021, it was nearly 10 times your income.
In Auckland, you can’t sell an apartment or townhouse for love nor money.
The question now is how low is too low?

Ryan Bridge: How low is too low for house prices

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/664285cc-f0d2-4571-a365-b4b2012d8f9d/transcript

On the Early Edition with Ryan Bridge Full Show Podcast 2026, Westpac have upgraded their GDP forecast, Independent Economist Cameron Bagrie tells Ryan what this means for our economy.

Act wants to abolish the Climate Change Commission, Adjunct Professor at the NZ Climate Change Research Institute Adrian Macey shares his thoughts. 

Dairy exports reached $28 billion in the year to December, Dairy Companies Association of New Zealand Executive Director Kimberly Crewther shares hr thoughts. 

Plus, US Correspondent Mitch McCann has the latest on Meta’s agreeing to pay up to $18 billion US to settle the claims its platforms harmed children and tributes for the death of Dolly Parton.

Get the Early Edition Full Show Podcast every weekday on iHeartRadio, or wherever you get your podcasts.          

LISTEN ABOVE  

On the Early Edition with Ryan Bridge Full Show Podcast 2026, Westpac have upgraded their GDP forecast, Independent Economist Cameron Bagrie tells Ryan what this means for our economy.
Act wants to abolish the Climate Change Commission, Adjunct Professor at the NZ Climate Change Research Institute Adrian Macey shares his thoughts.&nbsp;
Dairy exports reached $28 billion in the year to December, Dairy Companies Association of New Zealand Executive Director Kimberly Crewther shares hr thoughts.&nbsp;
Plus, US Correspondent Mitch McCann has the latest on Meta’s agreeing to pay up to $18 billion US to settle the claims its platforms harmed children and tributes for the death of Dolly Parton.
Get the Early Edition Full Show Podcast every weekday on iHeartRadio, or wherever you get your podcasts. &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;
LISTEN ABOVE &nbsp;

Full Show Podcast: 27 August 2026 

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/f2586efe-869e-41ca-a8dd-b4b2012ac3ad/transcript

A number of wins for Auckland as the city heads into a new era.  

The fourth annual State of the City report, commissioned by the independent non-partisan Committee for Auckland, compares the super city to others globally.  

It scored well on innovation, international business events, and the number of people coming here, but did less well on things like productivity and keeping talent. 

Heart of the City CEO Viv Beck told Ryan Bridge Auckland now has the International Convention Centre and the City Rail Link's about to open. 

She says it can now leverage investments like this to drive density, growth, and vibrancy. 

LISTEN ABOVE  

A number of wins for Auckland as the city heads into a new era. &nbsp;
The fourth annual State of the City report, commissioned by the independent non-partisan Committee for Auckland, compares the super city to others globally. &nbsp;
It scored well on innovation, international business events, and the number of people coming here, but did less well on things like productivity and keeping talent.&nbsp;
Heart of the City CEO Viv Beck told Ryan Bridge Auckland now has the International Convention Centre and the City Rail Link's about to open.&nbsp;
She says it can now leverage investments like this to drive density, growth, and vibrancy.&nbsp;
LISTEN ABOVE &nbsp;

Viv Beck: Heart of the City CEO on the State of the City report for Auckland

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/376b6891-6ba2-44bd-99e4-b4b1017f301a/transcript

Mitch McCann: US correspondent on Meta agreeing to pay 18 billion US dollars in a settlement deal

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