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TikTok CEO Shou Zi Chew is set to testify before Congress for the very first time on Thursday. These are 3 things Yahoo Finance will be looking out for. Number one is national security: How will TikTok address privacy and data security concerns as well as how it handles user data, and what would TikTok do if the Chinese government says hand that data over? Number two is TikTok’s growth: TikTok this week revealed its monthly active users in the U.S. hit 150M; that's a jump of 50% in the past 2+ years. Any wide-ranging U.S. ban could potentially hurt the more than 100,000 creators using TikTok for extra income. Number three is influence or interference: 2024 is a presidential election year in the U.S., so expect questions on misinformation, political influence, and even how children are affected by the content. Key video takeaways 00:14: 3 things to watch with TikTok in D.C. 00:29: TikTok CEO speaks ahead of testifying 01:20: strained relationship
(Bloomberg) -- Snap Inc. shares need more than the talked up possibility of a TikTok ban to recover from a near 70% slump in the past year.Most Read from BloombergBomb Threat Called In to New York Court Where Trump Hearing HeldBiden Stunts Growth in China for Chipmakers Getting US FundsFed Caught Between Inflation and Bank CrisisFirst Republic Rescue May Rely on US Backing to Reach a DealSVB’s Loans to Insiders Tripled to $219 Million Before It FailedTikTok Chief Executive Officer Shou Chew test
Alphabet (NASDAQ: GOOG) (NASDAQ: GOOGL) and Microsoft (NASDAQ: MSFT) have long been rivals, competing in areas like web browsers, email, productivity software, and operating systems, but it seems like Microsoft may be turning the tables on its old rival. The launch of ChatGPT from OpenAI, Microsoft's strategic partner in which it's invested more than $10 billion, presents possibly the greatest threat ever to Google Search. In fact, Alphabet called a code red meeting in response to the AI chatbot, and brought back founders Larry Page and Sergey Brin to devise a strategy.