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The big storyTick-tock on TikTokChelsea Jia Feng/BITikTok's time in the US could soon be on the clock. When it's all said and done, a TikTok ban could be in place before the week's end. Business Insider's Peter Kafka explains why the TikTok ban, while more imminent than ever, still has a long way to go . A TikTok ban would benefit one familiar face in social media, though, writes BI's Katie Notopoulos . YouTube Shorts, too, stand to grab more attention after a TikTok ban.
Persons: , Caitlin Clark's, Chelsea Jia Feng, ByteDance, Joe Biden, it's, Business Insider's Peter Kafka, Michael Beckerman, TikTok, hawking, BI's Lindsay Dodgson, outperforming, Katie Notopoulos, Merrill Lynch, Tyler Le, Andy Sieg's, Merrill, Lindsay Hans, Eric Schimpf, It's, Steve Cohen's, Grzegorz Wajda, Hokyoung Kim, Nordstrom, Tesla, Dan DeFrancesco, Jordan Parker Erb, Hallam Bullock, George Glover Organizations: Business, Service, Nike, Bloomberg Intelligence, YouTube, Big Tech, New York Stock Exchange, NYSE, Chelsea, Getty, Walmart, BI, Costco, Amazon, Motors, Spotify Locations: Americas, TikTok, Merrill, China, American, New York, London
Trump Media & Technology Group, which owns the conservative Twitter clone Truth Social, went public via SPAC in late March. Short sellers, if I had to guess, feel pretty good, even if Trump's company is trying to prevent them from betting against it. AdvertisementWhile Trump is a political figure, Trump Media's stock price is not really a political story. The same day, its stock price fell by 14%, though the next day it bounced. That TMTG's stock price has fallen isn't surprising.
Persons: I'm, Jim Cramer, Donald Trump's, Trump, DJT, it's, TMTG, isn't —, Peter Kafka, doesn't, TMTG isn't, Devin Nunes —, Devin Nunes, California —, He's, It's, Emily Stewart Organizations: Trump Media & Technology Group, Twitter, Republican, Nvidia, Truth, Meta, Trump, Trump Media & Technology, Business Locations: SPAC, TMTG, California
A bill aimed at banning TikTok in the US could be signed into law as early as this week. AdvertisementThe US House of Representatives passed a so-called TikTok ban bill on Saturday. Combining all three things means the TikTok bill will likely be approved as part of the package deal. AdvertisementSo you're saying ByteDance really has a year to sell TikTok to a different owner? For reference: In May 2023, Montana lawmakers passed their own TikTok ban bill; in November of that year, a federal judge blocked the measure.
Persons: , Will TikTok, Joe Biden, TikTok, Biden, there's, ByteDance, Steve Mnuchin, Trump, Mnuchin, doesn't Organizations: Service, US, Google, Apple Locations: TikTok's China, TikTok, Ukraine, Israel, Montana, China
Apple just removed WhatsApp, Signal, and other messaging apps from its Chinese app store. But it could happen in the US, too, if a TikTok ban bill becomes law. It's from an unidentified Apple comms person, to The Wall Street Journal, explaining why Apple just took four messaging/social media apps — WhatsApp, Threads, Signal, and Telegram — out of its Chinese app store. If the TikTok bill does become law, it won't make TikTok go away overnight in the US. But if the law jumps enough hurdles to become enforceable, Apple would have to remove TikTok from its US app store, as would Google.
Persons: , Apple, You've, Hasan Minhaj's, Joe Biden, TikTok Organizations: Apple, Big Tech, Service, Wall Street, Netflix, Facebook, Google Locations: China, Hong Kong, America, Ukraine, Israel
The new movie "Civil War" is controversial — some people love it and others hate it. But some people also say they're upset about "Civil War's" marketing. AdvertisementHave you seen "Civil War," the new movie about, um, a civil war in the US? But here's a supposed controversy about the movie you can most definitely ignore: Its marketing campaign, which has Upset Some People On The Internet. Well, 1) none of them are actually from the movie, and 2) supposedly, A24, the indie movie studio that made "Civil War," used AI to help generate them.
Persons: , here's, you'll, literalism, I've Organizations: Service Locations: United States, Washington ,
AdvertisementFor years, Netflix investors cared about one thing more than anything else: Go-go growth, which they measured by the number of subscribers the streaming company signed up. To push that point across, last year, Netflix stopped providing quarterly guidance on subscriber growth. But it's also understandable if investors think Netflix is going to stop providing subscriber numbers because the numbers aren't going to be as impressive in the future. Today, Netflix has nearly 270 million paid subscribers around the world, which makes it much, much bigger than its peers. AdvertisementThat's why Netflix's admission that it lost a million subscribers two years ago shook the entire media world and had everyone asking — was that a Netflix problem or a Streaming problem?
Persons: , that's, it's Organizations: Netflix, Service, Disney
Elon Musk runs Tesla and a lot of other companies at the same time. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementElon Musk runs Tesla. But Musk does his own thing, and for a long time, the idea that he's a guy who does so many things was part of the pitch: Normal people couldn't pull this off, but Elon is Not Normal.
Persons: , Elon Organizations: Elon, Service Locations: Las Vegas
The Toronto Raptors' Jontay Porter received a lifetime ban from the NBA over a betting scandal. If you think that's a crisis for the NBA, think again: The NBA is happy to make an example of Porter. AdvertisementHow dumb do you have to be to throw away an NBA career in a betting scandal? Or, if you don't like that framing, try this: How much trouble do you have to be in — financial or otherwise — to throw away an NBA career in a betting scandal? I can't fathom what led the Toronto Raptors' Jontay Porter to allegedly 1) conspire with bettors about a game he was playing in and 2) bet on NBA games, including betting against his own team.
Persons: Jontay Porter, Porter, Organizations: Toronto Raptors, NBA, Service
In today's big story, we're looking at a critical tech review that caused a bit of a stir on social media . AdvertisementIn a 25-minute video , Brownlee details all the issues he encountered using the AI device. Earlier this year, a negative video of Fisker's Ocean SUV by Brownlee also made waves on social media . Mario Tama/Getty Images; Chelsea Jia Feng/BICritical reviews in the age of innovation raise some interesting questions. Last week's drop among tech stocks shouldn't scare away investors , according to Wedbush.
Persons: , Michael Pollan, Roy Rochlin, Marques Brownlee, Brownlee, X, Mario Tama, Chelsea Jia Feng, It's, Insider's Peter Kafka, Peter, Katie Notopolous, Goldman, David Solomon, Kevin Winter, Eric Newcomer, Rebecca Zisser, Caitlin Clark, Morgan Stanley, Dan DeFrancesco, Jordan Parker Erb, Hallam Bullock, George Glover Organizations: Business, Service, YouTube, Apple, Apple Vision, Humane, America, JPMorgan, National Bureau, Statistics, Amazon Prime, Street Journal, Justice Department, Ticketmaster, United Airlines, Bank of America, The Locations: San Francisco, New York, Tokyo, London, Dublin
Right now, I feel closer to Donald J. Trump than I ever have before. That's because Trump looks like he's having trouble staying awake at his first-ever criminal trial. I don't know how long I was out for — probably just a few seconds — but definitely long enough for them to notice, and for me to notice that they noticed. I don't know when Donald Trump goes to sleep, but I do know that during his Twitter era, he tended to do a lot of late-night scrolling — also relatable — and posting. So don't worry about the nap-shaming, Mr. Trump — many of us do the same thing.
Persons: , Donald J, Trump, Romeo, Juliet, George Costanza's, I'm, Donald Trump, I've Organizations: Service, Business, Seinfeld, Pixar, Gallup Locations: U.S
You'd think teens would be early adopters of devices like the Apple Vision Pro and Meta's Quest. But a new Piper Sandler survey shows 56% of teen VR device owners rarely use them. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . This story is available exclusively to Business Insider subscribers.
Persons: Piper Sandler, , Meta Organizations: Apple Vision, Service, Business
You'd think teens would be early adopters of devices like the Apple Vision Pro and Meta's Quest. But a new Piper Sandler survey shows 56% of teen VR device owners rarely use them. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . This story is available exclusively to Business Insider subscribers.
Persons: Piper Sandler, , Meta Organizations: Apple Vision, Service, Business
Apple believes that AI is the future
  + stars: | 2024-04-16 | by ( Hasan Chowdhury | ) www.businessinsider.com   time to read: +3 min
Apple wanted all eyes to be on the Vision Pro when it launched. A report about AI chips coming to next-gen Macs helped boost Apple's stock by $112 billion. AdvertisementTwo months ago, Tim Cook was busy marking Apple's bold new vision of the future with the launch of expensive nerd goggles. Second, the future of the Vision Pro remains highly uncertain. Just don't expect the Vision Pro to steal the show in the same way a big AI reveal would.
Persons: , Tim Cook, Bloomberg's Mark Gurman, Apple, Peter Kafka Organizations: Apple, Service, International Data Corporation, Publishing, Getty, Huawei, Apple's, Vision Locations: Cupertino, Shanghai, China
AdvertisementThe upshot: For now, Google is testing out self-generated "AI overviews" for some regular search queries where it thinks the answer might be complex (but answerable). A Google rep told me the AI answers have been deployed in a "very limited percentage of search traffic" in the US and the UK. Screenshot/GoogleBecause I am A Responsible Journalist, I also asked Google how Google Magi, which powers these results, does or doesn't interact with the tech powering Google Gemini, its much-maligned "woke AI" chatbot. Right now, Google tries to keep you on Google by surfacing text from a site that purports to answer your query. AdvertisementOn the one hand, maybe Google becomes even more valuable because you're no longer even pretending it's a "search engine" — it's just an answer machine.
Persons: , you've, Microsoft's Bing, truman, OpenAI, Bing, It's, Google's, You've, Jason Kelce's, Taylor Organizations: Google, Service, National Locations: vietnam
Unlike other hyped-up tech, self-driving taxis look like they could be the real thing. Which is exactly how I felt after my last trip to San Francisco, when I took several rides in Waymo's robotaxis. AdvertisementWe've heard about self-driving taxis forever, but they're just starting to become a reality. AdvertisementWaymo self-driving taxis are kitted out with cameras and other sensors, like this Jaguar model crossing an intersection in San Francisco. Waymo's self-driving cars aren't perfectYes, there are still some issues with Waymo, at least in the rides I took recently.
Persons: , Waymo, We've, they're, Cruise, I'm, JASON HENRY, David Margines, honking, Mario Tama, Margines, Dmitri Dolgov, PyPqVaOc6B, Elon Musk, Musk Organizations: Service, Software, Google, San Francisco International Airport, Austin, Amazon, Warriors, Chase, Big, Elon Locations: San Francisco, Phoenix, Waymo's, Oakland, Los Angeles
But also a true thing: In 1994, when Simpson fled police in his white Bronco, 95 million people watched the slow-motion chase on TV, in real time. In 1994, AOL, the service that popularized the "World Wide Web," had a little more than a million subscribers. AdvertisementAnd the notion that we're never getting a TV event like the Simpson affair is not a new one, either. Digital media can certainly focus a lot of people's attention on one thing, but it can't compel everyone to watch one thing. Now I'm going to go stream June 17th, 1994 — ESPN's documentary about the Simpson chase.
Persons: , OJ Simpson, Simpson, We're, Rupert Murdoch's Fox, Kato Kalein, Lance Ito, Rick Maiman, Here's, Joanna Robinson, Robinson, Addison Rae, They're, It's, I've Organizations: Service, Bronco, Business, AOL, Getty Locations: America
Producer David Ellison is trying to take control of Paramount, the troubled media company. Ellison's father, Oracle founder Larry Ellison, is expected to help finance the proposed deal. AdvertisementDavid Ellison is a Hollywood producer who looks increasingly likely to become the new owner of Paramount. David Ellison is also the son of Larry Ellison, who founded business software behemoth Oracle Corp. and is the fifth-richest man in the world. This story is available exclusively to Business Insider subscribers.
Persons: David Ellison, Ellison's, Larry Ellison, , Ellison, Shari Redstone Organizations: Paramount, Oracle, Service, behemoth Oracle Corp, Business Locations: Hollywood
David Paton's 1974 song "Magic" has been repurposed as the theme for Novo Nordisk's Ozempic campaign. Paton, his late bandmate's estate, and Sony Publishing have all profited from this, with Paton likely earning seven figures. This illustrates the ongoing high investment in artists' back catalogs, fueled by streaming growth and commercial usage. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . And now a new version of "Magic" has become the theme song for Novo Nordisk's Ozempic rollout in the US, which is blanketing TV and the internet with this earworm:
Persons: David Paton's, Paton, , David Paton Organizations: Nordisk's Ozempic, Sony Publishing, Service, Novo Nordisk's
In the meantime we may see something decidedly less ambitious out of Apple: New iPads. It would be like a more portable Facebook portal. And while I've never heard of the Google Pixel, I had heard of the Facebook Portal, and... Facebook doesn't sell those anymore. On the other hand: My colleague Katie Notopoulos loved the Facebook Portal. But you never know: I spent decades not wearing a watch, and now if I forget to put on my Apple Watch before I leave the house I get anxious about losing my steps for the day.
Persons: , Tim Cook, Bloomberg's Mark Gurman, Gurman, Apple, hasn't, I've, Katie Notopoulos Organizations: Apple, Service, Google, Facebook, Apple Watch
Monday is an important day for Warner Bros. Discovery: It can now sell itself without a tax penalty. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. But if you're a media investor, banker, or someone who thinks like them, there's a different significance: It's the End of Warner Bros. Let's put that in English: Monday is the second anniversary of the deal that combined Discovery Networks with WarnerMedia, the conglomerate that includes HBO and CNN and was previously owned by AT&T.
Persons: , there's, Let's Organizations: Warner Bros, Service, Discovery Networks, WarnerMedia, HBO, CNN, AT
Instagram generated $32.4 billion in ad revenue in 2021, making up 27% of Meta's total revenue. Instagram's ad revenue was higher than Google's YouTube, which generated $28.8 billion. AdvertisementWe already knew that Instagram is a giant app that makes up a significant chunk of Meta's overall business. More context: Instagram made more money selling ads that year than Google's YouTube, which generated $28.8 billion in ad revenue. (Analysts at MoffettNathanson peg YouTube's overall revenue for that year at $35.4 billion, after factoring in the money it makes from its music and TV subscription services.)
Persons: Meta, Organizations: YouTube, Service, Business
Why did billionaire Leon Black pay Jeffrey Epstein $158 million for estate-planning advice? Black has an answer: He wasn't keeping track of it; $158 million doesn't mean much to him. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . Or, at least, that's what financier Leon Black says about his relationship with disgraced pedophile Jeffrey Epstein. This story is available exclusively to Business Insider subscribers.
Persons: Leon Black, Jeffrey Epstein, Black, , Black's, Epstein Organizations: Service, Business
Crypto investing peaked in November 2021But now crypto is nearly back to those levels. It's hard to explain why crypto is back, which means it could just as easily go away again. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . Let me be more specific: There's not a ton of visible interest in people pitching cryptocurrency as the building block for technologies that will reorder the world. But there's a ton of visible interest in buying cryptocurrencies.
Persons: Crypto, , Sam Bankman Fried Organizations: Service Locations: Miami, cryptocurrencies
Related storiesBut TikTok says it doesn't care what Katie or anyone else has to say — it's going to keep pushing shopping posts. AdvertisementMarni Levine, who runs TikTok's US shopping operations, says she's "not considering" pulling back on shopping posts. On the other hand: Maybe most TikTok users are totally fine with shopping stuff. It's not that users aren't noticing the shopping posts — 62.5% noticed an uptick in the posts over the last six months. And as far as the other shopping posts I'm not interested in, which is basically all of them?
Persons: , Katie Notopoulos, TikTok, Katie, Marni Levine, I've, John, Hank Green Organizations: Service, Business Locations: TikTok
As for the newsletter, in today's big story, we're breaking down Disney's big proxy fight . Activist investor Nelson Peltz's proxy fight against Disney for two seats on the company's board comes to a head at its annual shareholder meeting today. The total amount spent between Disney and its rivals wrangling votes is estimated to be at least $70 million, a record for a proxy fight. The statue of Walt Disney and Mickey Mouse at Cinderella Castle at the Magic Kingdom, at Walt Disney World, in Lake Buena Vista, Florida. 3 things in businessWin McNamee/Getty Images; Chelsea Jia Feng/BIIn other newsAdvertisementWhat's happening todayThe Walt Disney Company's annual meeting will be held today.
Persons: , Congrats, ya, Bob Iger, Nelson Peltz, Neilson Barnard, David A, Grogan, Nelson, Madeline Berg, BI's Peter Kafka, BI's Grace Eliza Goodwin, Walt Disney, Mickey Mouse, Joe Burbank, Rowe Price, Peltz's Trian, Neuberger Berman, Peltz, It's, Trian, they're, Stocks, Ray Dalio, it's, Quincy Krosby, Jeffrey Buchbinder, Alyssa Powell, Win McNamee, Chelsea Jia Feng, Dan DeFrancesco, Jordan Parker Erb, Hallam Bullock, George Glover Organizations: Business, Service, National, Getty, Disney, Magic, Walt Disney World, Orlando Sentinel, Tribune, Wall, BlackRock, Peltz's Trian Partners, California Public Employees, Financial Times, DuPont, Fed, JPMorgan, Bridgewater Associates, Astera Labs, Arm Holdings, LPL Financial, Apple, Nvidia, BI, Walt Locations: , Virginia, Lake Buena Vista , Florida, China, Haiti's, New York, London
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