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☆ House passes legislation that could ban TikTok in the US amid high-stakes vote on foreign aid
▼ + stars: | 2024-04-20 | by ( Brian Fung | ) edition.cnn.com time to read: +3 min

By attaching the TikTok bill to funding for Ukrainian military equipment and Israeli missile defense, House Republicans put the pressure on Senate lawmakers to consider the whole package in a single up-or-down vote. Policy analysts expect the Senate to take up the aid package quickly, giving it high odds of passage. And President Joe Biden has previously said he would sign the TikTok legislation if it reaches his desk. And in the days leading up to the House vote on Saturday, Senate Majority Leader Chuck Schumer emphasized the urgency of approving the foreign aid. On Saturday, Schumer said in remarks on the Senate floor that there is a tentative agreement for the chamber to take up the foreign aid package on Tuesday.

Persons: TikTok, Joe Biden, ” TikTok, ”, Chuck Schumer, Schumer, Paul Gallant, Cowen, Gallant, ” Gallant Organizations: Washington CNN, ByteDance, House Republicans, Cowen Inc Locations: Israel, Ukraine, Washington, U.S

☆ What to know about the TikTok ban bill the House passed
▼ + stars: | 2024-04-20 | by ( Brian Fung | ) edition.cnn.com time to read: +6 min

CNN —House lawmakers have once again passed legislation that could lead to a nationwide TikTok ban, renewing a massive threat to the company’s US operations. In March, House lawmakers approved a bill that would give TikTok roughly six months to sell. Another factor that’s shaking things up is how House Republicans inserted the TikTok bill into a much larger foreign aid package. Biden endorsed the prior version of the TikTok bill, which suggests he may quickly sign any foreign aid package that includes similar language targeting TikTok. In addition to complying with the legislation, TikTok could challenge it in court and has made no secret that it might do so.

Persons: TikTok, Joe Biden, there’s, who’ve, Washington Democratic Sen, Maria Cantwell, Paul Gallant, Cowen, Gallant, Joe Biden’s, Biden, —, Shou Chew, ”, Nadine Farid Johnson, ByteDance Organizations: CNN —, White, Washington Democratic, Republicans, House, Senate, Inc, Columbia University, “, TikTok Locations: United States, Ukraine, Israel, China

☆ Snap's move on TikTok news is 'a bit premature', says Roth MKM's Rohit Kulkarni
▼ + stars: | 2024-04-17 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailSnap's move on TikTok news is 'a bit premature', says Roth MKM's Rohit KulkarniRohit Kulkarni, Roth MKM senior research analyst, and Paul Gallant, TD Cowen TMT policy analyst, join 'Closing Bell Overtime' to talk the TikTok bill in congress and its impact on other social media companies.

Persons: Roth, Rohit Kulkarni Rohit Kulkarni, Paul Gallant, TD Cowen

☆ AI could disrupt the 2024 US presidential election. What’s Congress doing about it?
▼ + stars: | 2024-02-14 | by ( Brian Fung | ) edition.cnn.com time to read: +11 min

But with just nine months until Americans head to the ballot box, there are few signs Congress is ready to pass any meaningful legislation on AI. Alex Wong/Getty ImagesSchumer has previously said that with the election nearing, he may seek to fast-track a bill that focuses specifically on AI and election security. Nothing looks likely to move.”Initial momentum on AI regulationFor months, Congress has focused on getting up to speed on the basics of AI. Still other ideas would require “high-risk” AI models to register for a government license, or create a dedicated new federal agency to oversee AI. OpenAI CEO Sam Altman testifies before a Senate Judiciary Privacy, Technology & the Law Subcommittee hearing titled 'Oversight of A.I.

Persons: Joe Biden, Chuck Schumer, Bill Gates, Mark Zuckerberg, Elon Musk, “, Schumer, Sen, Todd Young, Martin Heinrich, Michael Rounds, Alex Wong, New Mexico Democratic Sen, South Dakota Republican Sen, Mike Rounds, Indiana Republican Sen, didn’t, Paul Gallant, Cowen, ”, Gallant, we’re, Sam Altman, Altman, Heinrich, Rounds, Young, Julia Nikhinson, Sundar Pichai, Jensen Huang, Mike Johnson, Marcus Molinaro, Johnson, Drake, Tom Hanks, Tennessee Republican Sen, Marsha Blackburn, Hakeem Jeffries, Don Beyer, it’ll, Alan Davidson, Biden, Elizabeth Frantz, ” Davidson, —, Sarah Myers West Organizations: Washington CNN, mayoral, U.S, Senate, Capitol, Artificial Intelligence, “, CNN, New, New Mexico Democratic, South Dakota Republican, Indiana Republican, Cowen Inc, United, International Atomic Energy Agency, Intelligence, Reuters, Google, Nvidia, New York Republican, The Washington Post, Commerce, Tennessee Republican, ITI, Virginia Democratic Rep, State of, Republican, House Energy, European Union, EU, Congress, Commerce Department, White House, Privacy, Technology, Democrats, Federal Trade Commission Locations: Washington ,, New Mexico, South, Washington , U.S, Washington

☆ FTC can seek tough new restrictons on Meta’s use of personal data, federal judge rules
▼ + stars: | 2023-11-28 | by ( Brian Fung | ) edition.cnn.com time to read: +3 min

The decision Monday by District Judge Timothy Kelly allows the FTC to move ahead with a proposal banning Meta from profiting off data it collects from users under the age of 18. The package of potential restrictions would represent some of the most significant impositions on Meta’s business since the 2020 privacy order that resolved a federal probe into the company’s Cambridge Analytica privacy fiasco. Meta had previously called the FTC proposal “a political stunt” that singles out Meta “while allowing Chinese companies like TikTok to operate without constraint on American soil.”The FTC declined to comment on the ruling. It’s unclear when the FTC may finalize its proposed rules, Gallant added, but it could occur in the spring of 2024. Meta could still attempt to challenge any eventual FTC rule changes in federal court.

Persons: Timothy Kelly, Meta, ”, Kelly, Paul Gallant, TD Cowen, Gallant Organizations: Washington CNN, Federal Trade Commission, FTC, Meta, Court, District of Columbia, Appeals, DC Circuit Locations: Cambridge

☆ With the DOJ looming, a post-earnings move higher for this tech giant means 'we have to trim'
▼ + stars: | 2023-07-25 | by ( Paulina Likos | ) www.cnbc.com time to read: +5 min

"Having Google win this ad tech case would reinforce the difficulty the government will have limiting tech platforms," Gallant said. Elsewhere, the European Commission is bringing a similar antitrust case against Google's ad tech business in the European Union. Bottom line At the Club, we're focused on the DOJ case because we have a significant position in Alphabet. Given the uncertainty around the antitrust case, if Alphabet stock moves higher post earnings Tuesday, we'll look to scale back our position in order to protect the broader portfolio. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.

Persons: Jim Cramer, Jim, Jonathan Kanter, Paul Gallant, Cowen, Gallant, Biden, we're, Jim Cramer's, Tayfun Organizations: U.S . Department, Big Tech, Nvidia, Biden administration's, Department, Google, DOJ, CNBC, European, European Union, The, Anadolu Agency, Getty Locations: U.S, View , California, United States

[1/3] A 3D printed Google logo is placed on the Apple Macbook in this illustration taken April 12, 2020. Apple Inc (AAPL.O), which is steadily growing its nascent advertising business and promoting it as privacy-focused, could be a winner if Google ads become less effective, said Brian Mandelbaum, chief executive of marketing firm Attain. With more options besides Google, publishers will have more transparency over how much they can sell ad space for, and could end up paying less in fees, Mandelbaum said. If Google loses access to data signals, advertisers could see their Google ads become less effective, said Nikhil Lai, senior analyst at research firm Forrester. While the lawsuit settled, the fight is credited with opening the way for other internet innovators, like Google itself.

☆ How Big Tech Shakeup, Layoffs Leave Social-Media Creators Scrambling
▼ + stars: | 2022-12-08 | by ( Brooke Erin Duffy | ) www.businessinsider.com time to read: +12 min

Meanwhile, laborers who rely on social-media platforms for visibility, reputation burnishing, and income have been left reeling — from journalists and academics to freelancers and adult performers. Last month, a plus-size creator told me how self-censorship becomes a risk-reduction strategy for marginalized creators. As the journalist Paul Gallant argued, queer content creators face a continuous struggle to avoid "the wrath that comes from violating ever-changing and poorly explained terms of service." Even coverage of the influence on social-media creators has been more tuned in to those with the biggest followings. But the real pain from this tug-of-war for the future of social media will be felt by those who have long faced the greatest hurdles: marginalized creators.

☆ National security concerns reportedly delay TikTok-U.S. deal
▼ + stars: | 2022-12-07 | by ( Lauren Feiner | ) www.cnbc.com time to read: +4 min

The government has yet to come back with TikTok with new requests on how to address the concerns, the Journal reported based on unnamed sources. TikTok confirmed it has not received an update from the government about any unresolved concerns. The two sides had reached broad agreements about storing U.S. user data on Oracle servers in the U.S., the Journal reported, moving it from TikTok data centers in Virginia and Singapore. U.S. officials and lawmakers have been vocal about their security concerns with TikTok. Cowen analysts wrote Wednesday that Meta's Reels, short-form videos similar to those on TikTok, "would be the biggest beneficiary" of a TikTok ban, followed by YouTube's Shorts.

☆ How Silicon Valley could be impacted by a Republican-controlled House
▼ + stars: | 2022-11-17 | by ( Brian Fung | ) edition.cnn.com time to read: +8 min

Democrats have hammered away at online platforms’ handling of hate speech and white nationalism, while promoting legislation that could drastically affect the business models of big tech companies. The return of heated tech CEO hearingsIn general, tech companies may face more political noise with a Republican House but potentially less policy risk. With Republicans likely to take control of the House, tech companies could face more hearings, but not necessarily more legislation. Privacy legislationMultiple Congress-watchers told CNN that support for federal privacy legislation is still bipartisan and the area remains one of a handful where lawmakers could make progress in the next Congress. It was approved by a key House committee this year and policy analysts say it could see more opportunities to advance next year.

☆ An antitrust battle over GIFs could be a wake-up call for Silicon Valley
▼ + stars: | 2022-10-20 | by ( Brian Fung | ) edition.cnn.com time to read: +5 min

But a long-running legal battle over who can control access to them, culminating this week in a rare defeat for Meta (META), the parent of Facebook, could have major ramifications for Big Tech regulation. On Tuesday, UK regulators forced Meta to unwind its 2020 purchase of Giphy, one of the largest searchable internet libraries of GIFs. “The Citadel may have been breached,” said Joel Mitnick, an antitrust attorney at the law firm Cadwalader, Wickersham & Taft. The company said this week that it will continue to explore acquisitions despite the UK ruling. And US courts don’t typically take foreign antitrust rulings into account; their job is to interpret US law.

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