The Federal Trade Commission (FTC) has released a report detailing the extensive data collection practices of major social media and video streaming companies, including Meta, Amazon, and TikTok. This report highlights the companies' engagement in 'vast surveillance' of consumers aimed at monetizing personal information, often failing to protect users, particularly children and teens. The FTC's findings reveal that these firms collect and retain large amounts of data, sometimes indefinitely, with inadequate privacy protections and vague data minimization policies. The agency is advocating for stronger federal privacy legislation to curb these practices and enhance protections for users, especially regarding children and teens. The report serves as a call to action for lawmakers to consider new regulations similar to the EU's Digital Services Act, emphasizing the urgent need for accountability in the tech industry. Overall, the FTC seeks to address pervasive privacy threats posed by current data handling practices in the digital landscape.