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The tech giants want this. They drafted the bill. They paid tens of millions of dollars to promote it. Think about that for a minute.
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They want it because it absolves them of responsibility for what their app does to kids. They can then just point to the existence of an already working mechanism for parents to intervene. The alternative would be for each app to implement stringent age verification or redesign itself to avoid addictive patterns. Neither option is good for their earnings.
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If this had anything to do with reigning in tech giants, it would be done for adults as well, without restricting anyone's rights (well, aside from the people-corporations' of course). The issues are the manipulative algorithmic datafeeds, advertising, and datamining. Age verification does nothing for any of this and only provides the tech giants and governments the means to secure even more control over people.
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