Tech
Congress Considers Bill To Force Sale Of TikTok
TikTok offices in Culver City, California (Mario Tama/Getty Images)

By some measures, TikTok has grown bigger than Facebook or Instagram in the US

Oracle’s potential TikTok takeover is a big deal to US competitors like Meta and Snap.

There’s more at stake with Oracle’s potential control of TikTok’s US operations than national security and geopolitical harmony. The fate of some of America’s biggest social media companies, like Meta, Snap, Reddit, and Pinterest, also hangs in the balance.

And judging by the latest data from Similarweb, reported exclusively by Sherwood News, TikTok is in some respects more popular among Americans — a very lucrative social media demographic — than its competitors.

Meta doesn’t break out user numbers anymore for its individual properties, and TikTok, a company owned by privately held ByteDance, last disclosed that it had 170 million monthly US users in March 2024, so Sherwood asked Similarweb, a digital market intelligence company, for more recent estimates.

Since TikTok briefly went dark and then was resurrected early this year, the platform has pulled ahead of Instagram and Facebook as far as app monthly active users (MAUs) in the US. In August, TikTok had 183 million monthly active users on iOS and Android, according to Similarweb, up 16% from a year ago. That’s more than Pinterest and Snapchat combined.

TikTok’s daily active users (DAUs) grew 19% year over year to 102 million, just shy of Facebook’s 107 million daily users — a testament to how ingrained the older social network has become for some Americans over the years. Facebook leads TikTok by a small margin on desktop and mobile web as well, but the audiences there are smaller than in the apps.

The details of the spin-off are still being hammered out and a lot could change. But what’s certain is that there’s plenty of potential value to be found in TikTok’s American user base for those who own it.

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Amazon closes at all-time high

Fresh off strong earnings Thursday, Amazon saw its stock price end the week at a record closing high of $244.22.

The stock is up 10% so far this year.

The e-commerce and cloud giant beat analysts’ revenue and earnings, and its massive gain was responsible for more than all of the positive return delivered by the SPDR S&P 500 ETF on Friday.

tech
Rani Molla

Google uses an AI-generated ad to sell AI search

Google is using AI video to tell consumers about its AI search tools, with a Veo 3-generated advertisement that will begin airing on TV today. In it, a cartoonish turkey uses Google’s AI Mode to plan a vacation from its farm before it’s eaten for Thanksgiving.

Like other AI ad campaigns that have opted to depict yetis or famous artworks rather than humans, Google chose a turkey as its protagonist to avoid the uncanny valley pitfall that happens when AI is used to generate human likenesses.

Google’s in-house marketing group, Google Creative Lab, developed the idea for the ad — not Google’s AI — but chose not to prominently label the ad as AI, telling The Wall Street Journal that consumers don’t actually care how the ad was made.

Google’s in-house marketing group, Google Creative Lab, developed the idea for the ad — not Google’s AI — but chose not to prominently label the ad as AI, telling The Wall Street Journal that consumers don’t actually care how the ad was made.

tech
Rani Molla

Amazon, Alphabet, Meta, and Microsoft combined spent nearly $100 billion on capex last quarter

The numbers are in and tech giants Amazon, Alphabet, Meta, and Microsoft spent a whopping $97 billion last quarter on purchases of property and equipment. That’s nearly double what it was a year earlier as AI infrastructure costs continue to balloon and show no sign of stopping. Amazon, which reported earnings and capital expenditure spending that beat analysts’ expectations yesterday, continued to lead the pack, spending more than $35 billion on capex in the quarter that ended in September.

Note that the data we’re using here is from FactSet, which strips out finance leases when calculating capital expenditures. If those expenses were included the total would be well over $100 billion last quarter.

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Sherwood Media, LLC produces fresh and unique perspectives on topical financial news and is a fully owned subsidiary of Robinhood Markets, Inc., and any views expressed here do not necessarily reflect the views of any other Robinhood affiliate, including Robinhood Markets, Inc., Robinhood Financial LLC, Robinhood Securities, LLC, Robinhood Crypto, LLC, or Robinhood Money, LLC.