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☆ Steven Mnuchin says he's putting together a group to try and buy TikTok
▼ + stars: | 2024-03-14 | by ( Brent D. Griffiths | ) www.businessinsider.com time to read: +3 min

Former Treasury Secretary Steven Mnuchin said on Thursday that he's exploring assembling a group of investors to purchase TikTok, an attempt to assuage US national security concerns that the popular social media app should not be under Chinese ownership. It's a great business, and I'm going to put together a great group to buy TikTok," Mnuchin said during an interview on CNBC's "Squawk Box." Mnuchin, breaking with former President Donald Trump, said he supported a House bill that could force a ban on the popular social media app. While the bill explicitly mentions TikTok, the legislation could also apply to future companies. Trump's White House, led in part by Mnuchin, kicked off the US effort to ban the social media app.

Persons: Steven Mnuchin, It's, Mnuchin, Donald Trump, Joe Biden, Trump, Jeff Yass, Kellyanne Conway, let's Organizations: Service, Lawmakers, Politico, Trump White House, Club, Growth Locations: TikTok's Beijing, ByteDance, Yass

☆ The proposed TikTok ban has been deemed unconstitutional by some, but framing around national security could help advance it
▼ + stars: | 2024-03-12 | by ( Natalie Musumeci | ) www.businessinsider.com time to read: +7 min

Read previewThe widely-popular social media app TikTok is once again facing a possible ban in the United States over concerns about its links to China. "It is targeted to address the national security threat that we believe these apps, like TikTok, pose to the United States because of its ownership by a foreign adversary." "The First Amendment protects Americans' right to access social media platforms of their choosing," Krishnan said. Former President Donald Trump in Tulsa, Okla. AP Photo/Sue OgrockiTrump once supported a TikTok ban, but is now against itMeanwhile, Trump — whose administration tried to ban TikTok in the US — but was blocked from doing so in court after TikTok sued — has now come out against a ban for the app. "If you get rid of TikTok, Facebook and Zuckerschmuck will double their business," Trump argued on his social media platform, Truth Social, in a dig at Meta CEO and Facebook founder Mark Zuckerberg.

Persons: —, Donald Trump, Sarah Kreps, TikTok's, weaponize, Steve Scalise, Cathy McMorris Rodgers, McMorris Rodgers, Kreps, ByteDance, Krishnan, TikTok, Sue Ogrocki Trump, Trump, Zuckerschmuck, Mark Zuckerberg, Jenna Leventoff, Leventoff Organizations: Service, Business, Tech, Institute, New York's Cornell University, Foreign, ByteDance Ltd, Republican, GOP, House Energy, Commerce Committee, Fox Business, Columbia University, Columbia Law School, Chinese Communist Party, AP, Facebook, Meta, Commerce, American Civil Liberties Union, Center for Democracy and Technology Locations: United States, China, TikTok's Beijing, New York, Tulsa, Okla, TikTok

☆ Ex-TikTok executive says she was fired because she 'lacked the docility and meekness' required of women at the company
▼ + stars: | 2024-02-08 | by ( Natalie Musumeci | ) www.businessinsider.com time to read: +6 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read previewAn ex-managing director at TikTok has accused the company behind the popular social media app and its China-based owner of unlawfully firing her because the corporate big-wigs deemed she "lacked the docility and meekness" required of women working there. "Zhang and other corporate executives determined that Ms. Puris lacked the docility and meekness specifically required of female employees," the complaint says. "By the second quarter of 2021, it became very evident that Ms. Puris was on Lidong Zhang's 'kill list,'" the lawsuit says. "Part of Lidong Zhang's 'kill list' approach was to build a case against any employee he placed on the list and instruct other employees to do the same."

Persons: —, Katie Ellen Puris, Lidong Zhang, ByteDance, Puris, United States —, Zhang, TikTok, Marjorie Mesidor, Monica Hincken Organizations: Service, Business, TikTok's New, TikTok Inc, Google, Facebook, Cannes Lions, Cannes Lion Locations: TikTok, China, New York, Beijing, TikTok's New York, United States, France, Lidong

☆ Triller has pitched its app as a TikTok replacement, but says it won't try to generate revenue directly from its namesake product
▼ + stars: | 2023-08-25 | by ( Dan Whateley | ) www.businessinsider.com time to read: +5 min

Triller said it won't try to generate revenue directly in the short-video app it was named after. The company does not perceive the Triller app as core to how it makes money, Green told Insider. Triller will therefore book costs tied to the Triller app as sales, marketing, general, or administrative expenses rather than as a cost of revenue, it wrote in its securities filing. These costs could include paying talent and influencers to drive adoption of the Triller app, or paying to license music for the app as a brand-building tool, it wrote. In 2022, Triller said it grew overall revenue by roughly 80% year over year to $47.7 million.

Persons: Triller, Julius, Michael Green, Trump, Trump's TikTok, Mahi de Silva, isn't, we're, I'm, it's, Green, FITE Organizations: Tech, New York Stock Exchange Locations: Beijing

☆ TikTok may have a path forward in the US without a sale or ban
▼ + stars: | 2023-06-14 | by ( Ashley Rodriguez | ) www.businessinsider.com time to read: +4 min

A bipartisan bill reintroduced this week would regulate how companies including TikTok share US data. TikTok has faced increased scrutiny around its ties to China, as well as calls for a US sale or ban. TikTok may have a path forward in the US without a sale or ban. TikTok has faced increased scrutiny from US lawmakers around its ties to China, where its parent company, ByteDance, is based. At the core of the issue are concerns that TikTok's Beijing-based parent company could be compelled to give the Chinese Community Party access to US user data.

Persons: TikTok, Sen, Ron Wyden, Cynthia Lummis, Biden, ByteDance, walling, It's, Wyden Organizations: Republican, CNN, Street, Foreign Investment, Congress, Wall, Chinese Community Party, CCP, Oracle Locations: China, Oregon, Wyoming, Montana, TikTok, Beijing, Texas, Russia

☆ A TikTok ban or forced sale could lead to major collateral damage for US tech companies like Apple and Chinese apps like Shein
▼ + stars: | 2023-03-15 | by ( Dan Whateley | ) www.businessinsider.com time to read: +9 min

"A big Chinese balloon in the sky and millions of Chinese TikTok balloons on our phones. But US tech companies that rely on data collection for advertising sales or other business practices have fought to curb such regulations. Still, efforts by members of Congress to pass federal legislation around data privacy, such as the American Data Privacy and Protection Act, have faced an uphill battle. Apple's 2021 user privacy changes stunted ad revenue at Facebook and Snapchat-maker Snap, for example. But blocking companies from gathering private information from users could also be a more effective path to protecting Americans while maintaining an avenue for Chinese companies to participate in the global economy.

☆ The war against TikTok won't solve the 'national embarrassment' of how poorly the US protects your data
▼ + stars: | 2023-03-08 | by ( Dan Whateley | ) www.businessinsider.com time to read: +8 min

"A big Chinese balloon in the sky and millions of Chinese TikTok balloons on our phones. TikTok has hurt its own cause when it comes to its reputation around data privacy. For example, the company misrepresented how US user data was managed and then its parent company monitored the locations of reporters who exposed its practices. Still, efforts by members of Congress to pass federal legislation around data privacy, such as the American Data Privacy and Protection Act, have faced an uphill battle. Apple's 2021 user privacy changes stunted ad revenue at Facebook and Snapchat-maker Snap, for example.

☆ Sen. Josh Hawley says he'll introduce legislation to ban TikTok nationwide
▼ + stars: | 2023-01-25 | by ( Https | Media-Cldnry.S-Nbcnews.Com Image Upload Newscms Rebecca-Shabad-Circle-Byline-Template.Jpg | Rebecca Shabad | ) www.nbcnews.com time to read: +3 min

WASHINGTON — Sen. Josh Hawley, R-Mo., has announced he plans to introduce legislation Wednesday that would ban the popular social media app TikTok in the United States. Now I will introduce legislation to ban it nationwide." "But listen, I welcome all efforts to ban TikTok, of whatever form it takes." Under that measure, the president could impose sanctions on TikTok and other social media companies to prevent commercial operation in the U.S. Several states have also taken steps to prohibit the use of TikTok on government devices.

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