Tech
TikTok ban support
Sherwood News

TikTok bites back against ban

The Chinese owner of the social media app starts its appeal against a US-wide ban today

This morning, a US federal appeals court will hear the case for keeping TikTok — almost 5 months after the Senate voted overwhelmingly in favor of legislation which, at present, will see the popular social media app face a total nationwide ban if Chinese parent company ByteDance doesn’t sell its controlling stake by January 19, 2025. 

Tok of the town

A three-judge panel in Washington DC will hear ByteDance’s appeal against the bill later today, where company representatives — as well as 8 TikTok creators — will try to block the law, per the BBC. Technically, three different legal challenges will be heard: one from ByteDance, one from creators, and one from a conservative nonprofit organization. The crux of each argument will be different, but each is likely to incorporate the issue of free speech rights for the app’s more than 170 million US users.

Lawyers from the Department of Justice will then make the case for the ban, on the grounds of what initially led to the law’s passing earlier this year: concerns that data from TikTok’s US users could be collected and exploited by the Chinese government, posing a national security risk.

For what it’s worth, the public’s view on the issue has changed somewhat since then. A recent survey from Pew Research found that support for the ban fell from 50% in March 2023 to just 32% last month, concurrent with a relative increase in those opposing the ban, which now stands at 28%.

The idea of a TikTok ban has been kicked about the halls of Washington for years, first stealing headlines back in the summer of 2020 during President Trump’s White House tenure, before getting dropped by President Biden in 2021... then picked back up by Biden again, who officially signed the ban bill in April of this year.

More Tech

See all Tech
Elon Musk laughing

SpaceX merges with xAI, reportedly will seek an IPO valuation of $1.25 trillion

Elon Musk says his space company has merged with his AI company, with the lofty goal of eventually putting data centers in space.

tech

Analyst: Investors should brace for Europe’s breakup with US Big Tech

The signs are there: the French government has restricted the use of Zoom for its employees. In Germany, the state of Schleswig-Holstein is ending the use of Microsoft Teams among its workers.

As US-EU tensions rise, Europe is looking to secure its own “digital sovereignty,” reduce its dependence on US-owned technology platforms, and grow its domestic tech industry. It now seems the European breakup with Big Tech is underway.

Tuttle Capital Management CEO Matthew Tuttle thinks that most investors aren’t paying enough attention to this growing problem for the American tech sector’s stocks.

In a note to investors, Tuttle wrote:

“The world is building optionality away from U.S. policy and platform dependence. And once you see it, you can’t unsee it — because it’s showing up in procurement decisions, supply chains, defense budgets, and capital flows.”

Tuttle Capital Management CEO Matthew Tuttle thinks that most investors aren’t paying enough attention to this growing problem for the American tech sector’s stocks.

In a note to investors, Tuttle wrote:

“The world is building optionality away from U.S. policy and platform dependence. And once you see it, you can’t unsee it — because it’s showing up in procurement decisions, supply chains, defense budgets, and capital flows.”

$110B

Waymo is seeking to raise $16 billion in a funding round that would value the autonomous car company at nearly $110 billion, Bloomberg reports. That’s higher than earlier Bloomberg estimates for the round and more than double Waymo’s 2024 valuation.

Parent company Google is leading the financing, expected to close in February, by making a $13 billion commitment that would account for a huge chunk of the round.

tech

China outlaws door handles Tesla is famous for

A new Chinese safety rule will require every vehicle sold in the country to have mechanically operable external and internal door handles that work even without power by 2027. The move would effectively ban the flush, motor-activated door handles Tesla is famous for, and that other EV makers like Xiaomi, Lucid, and Rivian have also adopted. Tesla is already facing scrutiny over its door designs in the US, where regulators have investigated crashes in which passengers struggled to exit vehicles after power failures.

Latest Stories

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.