Regulating the companies also socializes the costs of implementing age verification measures.
The correct solution that does not do this is to put liability on the parents.
All while these companies employ thousands of people whose only job it is to bypass parent's controls and find a way to get children hooked anyway? A mere slight imbalance, I would say ...
Liability? You want to make give parents fines for their children accessing Facebook at a young age?
So do you think we should remove all laws on selling cigarettes, alcohol and guns to children, make it the parents job?