Is the era of unregulated social media about to end? Or will big tech thwart new regulation?

I saw two stories about social media regulation (SM) last week - as New York passed two new laws protecting children from social media and the US Surgeon General recommended warning labels on social media. Protecting children from social media has long been a concern - but little has happened in the US.  Is the era of unregulated social media now about to end?   Or will big tech thwart new regulation? If you have or had children, what age would you allow them access to social media?