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☆ Americans don't want to ban TikTok anymore
▼ + stars: | 2024-09-05 | by ( Dan Whateley | ) www.businessinsider.com time to read: +4 min

Fewer Americans want to ban TikTok than did a year ago, according to a new survey from the Pew Research Center. While half of US adults supported a TikTok ban in March 2023, now just one in three (32%) say they want a government ban. The decline in support for a TikTok ban is occurring across party lines. Former President Trump once sought to ban or force a sale of TikTok, but recently flip-flopped on the issue. Vice President Harris hasn't shared a position on the TikTok ban.

Persons: TikTok, Donald Trump, Kamala Harris, Joe Biden, ByteDance, hasn't, G.S, Hans, Pew, Trump, Harris hasn't Organizations: Service, Pew Research Center, Pew, Business, Apple, Google, Chinese Communist Party, Cornell Law School Locations: TikTok, Beijing

☆ SoftBank swings back to gains at Vision Fund tech arm, announces up to $3.4 billion share buyback
▼ + stars: | 2024-08-07 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +2 min

SoftBank Group booked a 1.9 billion yen ($12.9 million) investment gain on its Vision Fund tech investment arm in the company's fiscal first quarter ended in June, swinging back into the black. However, the Vision Fund segment as a whole posted a 204.3 billion yen loss, after being in profit in the same quarter last year. The Japanese giant also announced it would buy back up to 6.8% of shares available in the company amounting to up to 500 billion yen ($3.4 billion). In the year ago quarter, SoftBank posted 159.77 billion yen gain in its Vision Fund. In the March quarter, SoftBank posted a loss of 57.53 billion yen in its flagship tech investment arm.

Persons: ByteDance —, SoftBank Organizations: SoftBank, Corp, Vision Fund, Vision, Bank of Japan Locations: Tokyo, Japan

☆ Blistering AI demand drives a beat and raise at our other chipmaker Broadcom
▼ + stars: | 2024-06-12 | by ( Jeff Marks | ) www.cnbc.com time to read: +10 min

We view Broadcom as one of the biggest AI beneficiaries through its networking and custom chip businesses. And it's a good thing that Broadcom wants to make its stock more accessible to investors and employees. Broadcom said the spending run rate at VMware was $1.6 billion in the quarter, down from $2.3 billion per quarter pre-acquisition. Outlook Following the strong first half of its fiscal year 2024, Broadcom raised both its revenue and adjusted EBITDA outlook. The positively revised update is above FactSet estimates of $50.58 billion in revenue and $30 billion of adjusted EBITDA.

Persons: Hock Tan, we've, Tan, Jim Cramer's, Jim Cramer, Jim, Broadcom Lucas Jackson Organizations: Broadcom, VMware, Revenue, Club, LSEG, VMWare, Wall Street, Marvell Technology, Devices, Nvidia, Lam, Chipotle, Walmart, Apple, Infrastructure Software, CNBC Locations: Hock

☆ Congress Passed a Bill That Could Ban TikTok. Now Comes the Hard Part.
▼ + stars: | 2024-04-23 | by ( Sapna Maheshwari | David Mccabe | ) www.nytimes.com time to read: +1 min

A bill that would force a sale of TikTok by its Chinese owner, ByteDance — or ban it outright — was passed by the Senate on Tuesday and is expected to be signed quickly into law by President Biden. Now the process is likely to get even more complicated. Congress passed the measure citing national security concerns because of TikTok’s Chinese ties. The measure is likely to face legal challenges, as well as possible resistance from Beijing, which could block the sale or export of the technology. It’s also unclear who has the resources to buy TikTok, since it will carry a hefty price tag.

Persons: ByteDance, —, Biden, TikTok, It’s Locations: United States, Beijing

☆ The U.S. Investors Caught in the Scrum Over TikTok
▼ + stars: | 2024-03-26 | by ( Lauren Hirsch | ) www.nytimes.com time to read: +1 min

For years, the U.S. investors who backed ByteDance, the Chinese internet company that owns TikTok, have wrestled with the complexities of owning a piece of a geopolitically fraught social media app. A bill to force ByteDance to sell TikTok is winding its way through the Senate after sailing through the House this month. In December, a Missouri pension board voted to divest from some Chinese investments, following political pressure from the state treasurer. The Beijing-based company has grown into one of the world’s most highly valued start-ups, worth $225 billion, according to CB Insights. That’s a boon, at least on paper, for U.S. investors who put money into ByteDance when it was a smaller company.

Persons: it’s, ByteDance, Biden Organizations: Senate, General Atlantic, Susquehanna International Group, Sequoia Capital, Administration, U.S Locations: U.S, China, Missouri, Florida, Beijing, ByteDance

WASHINGTON (AP) — If some U.S. lawmakers have their way, the United States and China could end up with something in common: TikTok might not be available in either country. But while U.S. lawmakers associate TikTok with China, the company, headquartered outside China, has strategically kept its distance from its homeland. Since its inception, the TikTok platform has been intended for non-Chinese markets and is unavailable in mainland China. Some have insisted they be called “global companies” instead of “Chinese companies.”But for TikTok, this may not be enough. “America’s foremost adversary has no business controlling a dominant media platform in the United States.

Persons: TikTok, Joe Biden, Zhiqun Zhu, ” Zhu, Alex Capri, Hinrich, ” Capri, Capri, Zhang Yiming, Mike Gallagher, ”, Gallagher, “, Sen, Tom Cotton, Shou Zi Chew, beholden, Chew, Nancy Pelosi, ” Chew, Thomas Zhang, Zhang, It's, Donald Trump, Trump Organizations: WASHINGTON, Bucknell University, “, National University of Singapore, Hinrich Foundation, Chinese Communist Party, CCP, Communist, Wired, Republicans Locations: United States, China, Beijing, Hong Kong, U.S, Washington, there's, Chinese, Chew

Just_super | E+ | Getty ImagesThe European Union's parliament on Wednesday endorsed the world's first major set of regulatory ground rules to govern the mediatized artificial intelligence at the forefront of tech investment. President of the European Parliament, Roberta Metsola, described the act as trail-blazing, saying it would enable innovation, while safeguarding fundamental rights. "Artificial intelligence is already very much part of our daily lives. Born in 2021, the EU AI Act divides the technology into categories of risk, ranging from "unacceptable" — which would see the technology banned — to high, medium and low hazard. "The AI Act is not the end of the journey, but, rather, the starting point for a new model of governance built around technology.

Persons: Thierry Breton, Roberta Metsola, Dragos, Tudorache Organizations: Intelligence, Wednesday, EU, European, Union, Digital Markets, — U.S, Apple, Meta, Microsoft, Google, Nvidia Locations: Europe, Germany, France, U.S, India

☆ Big Tech goes from 'teenager' to 'grown-up' under landmark EU law. Here's what you need to know
▼ + stars: | 2024-03-07 | by ( Ryan Browne | ) www.cnbc.com time to read: +4 min

Justin Tallis | AFP via Getty ImagesAn EU law that seeks to rein in large digital companies has officially kicked in, spelling big changes for primarily U.S. tech giants. CNBC runs through how the law impacts large U.S. tech companies — as well as consumers in the EU. The EU Digital Markets Act primarily impacts U.S. tech giants — the likes of Alphabet , Amazon , Apple , and Meta . The rules have already sparked big changes for tech giants in how they serve customers in the EU. It's likely more adjustments will come, as competitors to Big Tech firms aren't happy with the proposals put in place so far.

Persons: Justin Tallis, Bill Echikson, Echikson, ByteDance, Apple Organizations: Apple, Facebook, Microsoft, Getty, Digital Markets, European Commission, Center for, CNBC, Big Tech, EU Digital Markets, Meta, Google, Companies, EU, Spotify Locations: EU, U.S, iPhones

☆ JPMorgan's Jamie Dimon says he isn't afraid of China, but would leave if the US government told him to
▼ + stars: | 2023-11-30 | by ( Tom Carter | ) www.businessinsider.com time to read: +3 min

JP Morgan boss Jamie Dimon said at NYT's Dealbook conference the bank would leave China if ordered to. AdvertisementJamie Dimon says he's not "afraid" of China — but that JP Morgan would leave if the US government told it to. "If the American government makes me leave China, I'm leaving China. Tensions between China and Taiwan, which China regards as a breakaway province, have been growing . That poses a challenge to firms like JP Morgan, which has been active in China for a century and has expanded its presence there in recent years.

Persons: Morgan, Jamie Dimon, Dimon, —, he's, JP Morgan, Biden, I'm Organizations: CNBC, Service, The New York Times, Business Locations: China, Taiwan, I'm

☆ The decision to split Sequoia Capital into 3 entities puts to bed any questions of a power struggle at the VC powerhouse
▼ + stars: | 2023-06-06 | by ( Melia Russell | ) www.businessinsider.com time to read: +4 min

VC powerhouse Sequoia Capital announced Tuesday that it is splitting into three entities. One of those entities, Sequoia China, known locally as HongShan, will operate as a distinct firm. The mighty Sequoia Capital is dropping branches. The decision puts to bed any question of a power struggle at one of Silicon Valley's most respected firms. And unlike some other global firms that had veto power over investments overseas, according to Bloomberg, Sequoia China had full autonomy to strike its own deals.

Persons: Roelof Botha, Neil Shen, Forbes, Alex Konrad, Doug Leone, Instagram, Bytedance, Botha, Shen, Julian Bek, Elon Musk's Organizations: Sequoia Capital, Sequoia, XV Partners, YouTube, Bloomberg, Shen, Sequoia China, Ventures, Lightspeed Venture Partners, Accel, Elon, Twitter, Fidelity Locations: Sequoia China, China, Europe, HongShan, India, Southeast Asia, Sequoia, Sequoia Capital China, Asia, Silicon Valley, London, FTX

☆ Despite TikTok ban threat, influencers are flocking to a new app from its parent company
▼ + stars: | 2023-05-05 | by ( Clare Duffy | ) edition.cnn.com time to read: +8 min

However, they denied rumors that ByteDance had paid creators to promote the new app on TikTok. Still, the app lacks some standard social platform features such as messaging and the option to tag other users in posts. Lemon8’s userbase remains a far cry from the 150 million users TikTok says it has in the United States. By launching a new app even with TikTok in the spotlight, “ByteDance clearly doesn’t feel like they’re at risk,” Lewis said. Even if TikTok and Lemon8 were banned, Cruz said, “I already have a following on all the other platforms.”

☆ RESTRICT Act explained: proposed TikTok ban is 'a PATRIOT Act for the digital age,' some lawmakers say
▼ + stars: | 2023-04-23 | by ( Katherine Tangalakis-Lippert | ) www.businessinsider.com time to read: +11 min

The RESTRICT Act, a bill that could ban TikTok nationwide, was introduced in the Senate last month. GOP Senator JD Vance of Ohio called the bill proposal "a PATRIOT Act for the digital age." But the RESTRICT Act — touted as a way ban TikTok nationwide — would do far more than prevent users from accessing an app known for its viral dance routines and conspiracy theory videos. "This will directly improve our national security as well as safeguard Americans' personal information and our nation's vital intellectual property." Even those who support a TikTok ban, such as Senator JD Vance of Ohio, don't see the RESTRICT Act as an appropriate solution.

☆ Here's a full list of the US states that have introduced full or partial TikTok bans on government devices over mounting security concerns
▼ + stars: | 2023-01-15 | by ( Sawdah Bhaimiya | ) www.businessinsider.com time to read: +2 min

North Carolina and Wisconsin are the latest US states to ban TikTok on government devices. There are growing concerns that Chinese-owned apps share user data with its government. Many states have extended the ban to other Chinese-owned apps and platforms like Weibo, WeChat, Alibaba and Huawei Technologies. A number of states began banning the app as awareness about security issues increased. Here's a list of all 27 states that have prohibited the use of TikTok on state devices.

☆ TikTok executive refuses Jake Tapper’s multiple requests to acknowledge China’s Uyghur genocide
▼ + stars: | 2022-12-20 | by ( David Goldman | ) edition.cnn.com time to read: +4 min

Critics argue China’s national security laws could force TikTok — or its parent, ByteDance — to hand over the personal data of customers in the United States. “I’m just not an expert on what’s happening in China,” Beckerman said. He again refused to acknowledge it, saying only that China is among many bad actors around the world. “Look, I think there are many human rights violations that are happening in China and around the world,” Beckerman said. I’m not here to be the expert on human rights violations around the world.”A TikTok spokesperson was not immediately available for comment.

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