This is not investment advice. The author has no position in any of the stocks mentioned. Wccftech.com has a disclosure and ethics policy.
13.03.2024 - 15:45 / wccftech.com / Rohail Saleem
This is not investment advice. The author has no position in any of the stocks mentioned. Wccftech.com has a disclosure and ethics policy.
Rarely has a bill that enjoys bipartisan support in the US Congress proven to be so divisive, eliciting a gamut of differing opinions from the various stakeholders. Yet, this is exactly what appears to be happening in relation to the so-called TikTok bill.
To wit, just moments ago, the House approved the TikTok bill, which aims to force the social media platform's owner - ByteDance - to either divest its stake in the company within 180 days in favor of an entity that is acceptable to the US administration or face comprehensive restrictions, including preventing the app stores and cloud service providers from updating the TikTok app in the United States. The bill also empowers the US Department of Justice to introduce appropriate sanctions against individuals and entities who violate the bill's demands.
The Resolution HR 7521, which includes the TikTok bill, has received 352 votes in favor and 65 votes in opposition.
Of course, the TikTok bill now moves to the Senate, where Senator Rand Paul has already pledged to block the legislation as potentially violative of the Constitution.
Do note that a large segment of US lawmakers are concerned about the data security of Americans. Under the prevailing law, ByteDance can be compelled by the Chinese authorities to potentially hand over the data of millions of Americans who use TikTok every day. For its part, TikTok says that it has already spent over $1 billion to store the user data of Americans on American soil by leveraging Oracle's data centers.
Meanwhile, China, where ByteDance is domiciled, has been quite vocal in expressing its reservations vis-a-vis the TikTok bill. Recently, the Chinese Foreign Ministry spokesperson termed the legislative action as a "kind of bullying behavior [that] is used when one can no longer win in fair competition."
Bear in mind that it remains uncertain whether China will even allow ByteDance to divest. Back in 2020, Beijing had placed export restrictions on technology related to TikTok's content-recommending algorithms.
Elon Musk has already expressed his opposition to the TikTok bill, taking exception to the potential for executive misuse of authority in pursuit of undue censorship.
Trump has also expressed qualified reservations with the TikTok bill as he thinks it would give Meta an undue advantage.
Yet, there remains a slim window of opportunity for ByteDance to achieve an amicable resolution to this crisis of sorts. Rumble has proposed a consortium to acquire TikTok. This might be the only recourse
This is not investment advice. The author has no position in any of the stocks mentioned. Wccftech.com has a disclosure and ethics policy.
This is not investment advice. The author has no position in any of the stocks mentioned. Wccftech.com has a disclosure and ethics policy.
Elon Musk has unveiled a new initiative aimed at enhancing the user experience on X. In an announcement, Musk revealed that X users boasting over 2500 verified followers will now gain access to Premium services without any charge. Additionally, those with over 5000 followers will be entitled to the Premium+ package, also free of charge.
We have finally got the scoop regarding Persona 5’s official release date! Yep, it’s dropping on April 12th in China. Persona 5: The Phantom X is gearing up to land on mobile phones, PCs and consoles. It’s been developed by Black Wings Game Studio and published by Perfect World Games with creative inputs from the original Persona makers, Atlus.
Elon Musk, the CEO of SpaceX, has unveiled ambitious plans to propel humanity into a new era of interplanetary civilization. Musk's latest announcement focuses on the Starship rocket, which he aims to land on Mars within the next five years. This bold endeavor comes on the heels of a successful third test flight of the Starship, bolstering Musk's confidence in its capabilities. Notably, Musk envisions the Starship playing a pivotal role in crewed missions to the Moon by 2026.
A new concept video showcasing the capabilities of Unreal Engine 5 demonstrates what a video game centered around billionaire Elon Musk's life might look like. Unreal Engine 5 has proven to be one of the most impressive game-creation engines yet, and this concept video is an interesting showcase of the engine's capabilities.
This is not investment advice. The author has no position in any of the stocks mentioned. Wccftech.com has a disclosure and ethics policy.
This is not investment advice. The author has no position in any of the stocks mentioned. Wccftech.com has a disclosure and ethics policy.
AI roundup: In today's top news on artificial intelligence (AI), billionaire and Tesla chief Elon Musk has grabbed attention with his views on the future of AI; US-based startup Cognition unveiled its AI software engineer called Devin, which can write and deploy codes. Check more AI news from today here.
This is not investment advice. The author has no position in any of the stocks mentioned. Wccftech.com has a disclosure and ethics policy.
OpenAI lambasted Elon Musk's allegations against it, saying in a court filing that the billionaire entrepreneur's claims “rest on convoluted — often incoherent — factual premises.”
Manga icon Akira Toriyama’s untimely passing has led to an outpouring of emotion across the entire Internet, with tributes being paid all over social media. But one particularly poignant post that caught our attention is this clip of Dragon Ball XenoVerse 2, where fans all gathered in a lobby to pay their respects to the legendary artist: