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TikTok's legal showdown begins: Here's what's at stake
  + stars: | 2024-09-16 | 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 EmailTikTok's legal showdown begins: Here's what's at stakeFrank McCourt, Project Liberty founder, joins 'Squawk Box' to discuss TikTok's court hearing today to stop a possible ban or sale of the all in the U.S., the national security risk posed by the app, his plans to buy TikTok, and more.
Persons: Here's, Frank McCourt Organizations: Liberty Locations: U.S
Frank McCourt, civic entrepreneur, executive chairman of McCourt Global and founder of Project Liberty, speaks at The Wall Street Journal’s Future of Everything Festival in New York City, U.S., May 22, 2024. "I don't want to be the CEO of a social media platform. His pitch has drawn a key group: Parents whose children died after being influenced by social media or bullied on various platforms. He founded the non-profit Project Liberty to build a healthier version of social media. Project Liberty is working with Guggenheim Securities and law firm Kirkland & Ellis to buy the viral video platform.
Persons: Frank McCourt, McCourt, Frank's, Sam Chapman, Sammy, Chapman, Kirkland, Ellis Organizations: McCourt Global, Project Liberty, Everything, Liberty, Guggenheim Securities Locations: New York City, U.S
Read previewReal estate mogul Frank McCourt is the latest person to raise his hand to try to acquire TikTok's US business. Related stories"We thought this was a really fantastic opportunity to accelerate the creation of an alternative internet," McCourt told the Associated Press. McCourt wants to change TikTok's basic business to an open-source model that allows users and creators more control over their data. McCourt told the New York Times that he doesn't want the algorithm. "We doubt very much that China would sell TikTok with the algorithm," McCourt told the Times.
Persons: , Frank McCourt, McCourt, Kirkland, Ellis, TikTok, Forbes, Tim Berners, Lee, TikTok . McCourt, Eric Schmidt, Steven Mnuchin, he's Organizations: Service, Guggenheim Securities, Business, Associated Press, Liberty, Los Angeles Dodgers, Big Tech, New York Times, Times Locations: China
The billionaire Frank McCourt has put up his hand. Mr. McCourt said Wednesday he was working to put together a group of bidders to buy the social media app. His goal in doing so is to rethink how TikTok, and the internet overall, use data and consider privacy. “This seemed like a great opportunity to actually create the alternative to the current internet, which has been colonized by large platforms and including TikTok,” Mr. McCourt said in an interview. He said the deal could help users “control their identity, own and control their data.”
Persons: Frank McCourt, McCourt, Jonathan Haidt, Mr, Organizations: Los Angeles Dodgers, Facebook, Liberty
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailSocial media apps like Facebook 'are doing great harm', says Project Liberty founderHosted by Brian Sullivan, “Last Call” is a fast-paced, entertaining business show that explores the intersection of money, culture and policy. Tune in Monday through Friday at 7 p.m. ET on CNBC.
Persons: Brian Sullivan, Organizations: Facebook, CNBC
"Right now, there are only a handful of companies with the resources needed to create these large-scale AI models and deploy them at scale. McCourt also thinks AI could give too much power to tech giants. The inventor of the web, Tim Berners Lee, has also raised concerns about the concentration of power among the tech giants. On AI, however, he feels that while the technology giants now are leading the way, there is space for disruption. These are AI models that are not owned by a single entity, such as Google or Microsoft, and instead can be developed and added to by anyone.
Persons: OpenAI's ChatGPT, Meredith Whittaker, Whittaker, Maven, Frank McCourt, McCourt, Tim Berners Lee, Jimmy Wales, that's Organizations: Tech, Microsoft, Google, CNBC, Department of Defense, Los Angeles Dodgers, team, Liberty, Wales Locations: U.S, China, Wales
His portrayal came in testimony in an antitrust trial focused on Epic Games' attempt to upend Google's store for Android phone apps. It's similar to a payment system that Epic unsuccessfully challenged in a parallel lawsuit filed against Apple's iPhone app store. Sweeney said Google tried to entice him with a wide range of financial incentives, which he rejected. After rejecting Google's overtures, Epic tried to distribute Fortnite for Android through its own website. “It's an issue I see as existential to all games, including Epic,” Sweeney said.
Persons: Tim Sweeney, Sundar Pichai, Sweeney, Jonathan Kravis, Kravis, ” Sweeney, Fortnite, Sweeney didn't Organizations: FRANCISCO, Google, Games, Washington , D.C, U.S, Supreme, Activision, Android, Apple, Sony, Microsoft, Nintendo, PlayStation Locations: San Francisco, Washington ,, View , California
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThe internet is broken — and there’s a lot of harm being caused, Project Liberty founder saysFrank McCourt Jr., founder and executive chairman at Project Liberty Action Network, says the internet needs a reset to fix some of its problems and individuals should be able to regain control of their data.
Persons: Frank McCourt Jr Organizations: Project Liberty, Liberty Action Network
The legal battle follows a years-long debate about whether app store operators such as Google and Apple foster an open, competitive app ecosystem. The court fight traces back to 2020, when Epic launched Project Liberty, a plan to circumvent Apple and Google’s app store terms. Epic updated the Fortnite app to encourage players to pay for in-app content directly through Epic’s own website — rather than through Apple and Google’s in-app payment systems. That gambit triggered a violation of the app stores’ developer terms. The move also prompted both app stores to remove the Fortnite app from their platforms.
Persons: , Sundar Pichai, Tim Sweeney, Fortnite, Sweeney, Wilson White, they’ve Organizations: CNN, Google, Court, Apple, Epic, Liberty, Supreme Locations: California’s
The legal battle follows a years-long debate about whether app store operators such as Google and Apple foster an open, competitive app ecosystem. The court fight traces back to 2020, when Epic launched Project Liberty, a plan to circumvent Apple and Google’s app store terms. Epic updated the Fortnite app to encourage players to pay for in-app content directly through Epic’s own website — rather than through Apple and Google’s in-app payment systems. That gambit triggered a violation of the app stores’ developer terms. The move also prompted both app stores to remove the Fortnite app from their platforms.
Persons: , Sundar Pichai, Tim Sweeney, Fortnite, Sweeney, Wilson White, they’ve Organizations: CNN, Google, Court, Apple, Epic, Liberty, Supreme Locations: California’s
Facebook whistleblower Frances Haugen speaks at the SXSW (South by Southwest) conference and festivals in Austin, Texas, U.S. March 14, 2022. REUTERS/Montinique MonroeRegister now for FREE unlimited access to Reuters.com RegisterSept 22 (Reuters) - Facebook whistleblower Frances Haugen is launching a nonprofit organization that will seek solutions to harms created by social media, she said on Thursday. The former product manager at Facebook, since renamed Meta Platforms (META.O), made headlines last year after coming out as the source of thousands of leaked internal documents, which she said detailed the social media company's failures to protect teen girls on Instagram and clamp down on vaccine misinformation. It will partner with Project Liberty, an organization working to build a new operating protocol for social networking, and Common Sense Media, which advocates for safe media content for kids. Register now for FREE unlimited access to Reuters.com RegisterReporting by Sheila Dang in Dallas; Editing by Richard ChangOur Standards: The Thomson Reuters Trust Principles.
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