So maybe banning asbestos altogether is overkill.
I'd love to be proven wrong. I don't have any financial interest in asbestos besides the few jobs I've done over the years removing it.
Your example thus kind of shows the opposite: dangerous things can be made safe, with a solid understanding of their risks and techniques that are proven to make them safe. We have neither the former nor the the latter for social media.
Like I said in another comment - if a parent is working 3 jobs and doesn't have time for their children, change the subsidies given to the parent for having children. Make child care free or really accessible.
A child needs a parent or at least a role model. If you ban social media, the children will still see random crap on the internet, whether it's YouTube videos or content from random sites too small or shady to be regulated. Do you want 100% of the internet regulated or do you want the government to empower the children and their parents? We have the resources, we just haven't allocated them correctly. Otherwise a parent would have time to spend with their children.
And the people using asbestos in their homes, or buying homes with asbestos, are endangering themselves. How likely is that an improperly installed or maintained asbestos is going to affect a whole neighborhood?
Similar to how if you're using a insecure program written in C, whoever finds the bug should tell you immediately - don't use that program.
[0] You might say that asbestos from 1 house would affect the whole neighborhood but that would be similar to how a smoker smoking in the streets would affect the neighborhood. Second-hand smoking and second-hand asbestos are bad but they're negligible compared to living with a smoker who smokes indoors with the windows closed or smoking yourself.
It normalizes age verification online which will likely lead to a less free internet. We could wait for decades until a really privacy-preserving way of age verification will come but what will happen is we'll have to give up our privacy and anonymity to a few large governments and companies.
It opens to door for regulating any kind of communication channels amongst the people. It will start with big social media but it will likely expand to any kind of forums, chats and even open protocols like AT. It will normalize the government interfering in all kinds of online activities.
These may seem distant and abstract to most people but the people in power want or will want to get power over every kind of communication. We should oppose this now, not when it's normalized and has happened for "platforms bigger than X users".
The people should be able to form any kind of group where they communicate freely. If you want to regulate commercial addictive algorithmic content suggestions... OK, maybe, sure. Do it. Don't regulate where people communicate, how they do it, what they talk about and what they share. People who can use the internet, even children, need a way to share their ideas and concerns. They need to be able to belong to whatever community they please.
I hate those companies with a passion. I know most of us here do even if some of us work there (I don't and will not; I'm not even in IT right now). Yet I see how easily regulations against these centralized platforms will expand to regulations on communication in general, whether it's commercial centralized ones or an FOSS decentralized E2EE ones.
my partner and i have reasonably good jobs, but we work 12-14hrs. we make mortgage and have some extra money. we are currently debating whether or not it is financially, morally, or ethically responsible to bring a child into this world and be able to provide them with the attention that they need and deserve.
For social media it is a whole different problem from it being entangled with protected speech. We don't want 'arrested for spreading misinformation defined as anything which contradicts the offical line' to be a thing.