Albert Fong’s Post

🚨 TikTok's Future in the U.S. 🚨 This week marked a significant turning point in digital and social media law as the U.S. Senate passed a comprehensive legislative package. With a key provision requiring TikTok to be sold within the next year. For years, discussions around TikTok’s future in the U.S. have stirred debates on privacy, data security, and foreign influence. With this new mandate, the landscape is set to change dramatically. TikTok boasts over a billion monthly active users globally, with a substantial user base in the U.S., presenting an unprecedented opportunity for emerging leaders in the social media space. The potential sale opens doors for innovative companies ready to expand their footprint and reshape the social media ecosystem. Likely bidders include tech giants like Microsoft and Oracle, retail giants such as Walmart and Amazon, as well as various private equity groups. Who do you think will ultimately take the reins of TikTok? Will it be a tech behemoth, a financial powerhouse, or perhaps a dark horse in the race? Would love to hear your thoughts and insights below.

Big thanks to Frank Holland and his team on CNBC Worldwide Exchange for having me on this morning to talk about the TikTok divestiture legislation. The trajectory towards the bill becoming law appears more probable than in past attempts, with the President indicating a willingness to sign a TikTok-related bill into law, should it clear both the House and the Senate. Nonetheless, significant challenges remain, particularly in the Senate, where concerns about targeting TikTok by name might prompt revisions to soften the bill’s language. Despite this, there’s a consensus leaning towards some form of legislative action passing and being signed into law. However, the challenge of finding a willing and viable buyer persists. The potential risks for the buyer are substantial: 1) The nature of divestiture remains unclear, including whether the proprietary algorithm technology will transfer to the buyer; 2) The buyer could become a direct target of both the People’s Republic of China’s government and the CCP, as well as face backlash from Chinese patriotic consumers. There are serious concerns in Washington about the range of nefarious use cases that this app offers the PRC if it decides to use them. Special thanks to Michelle Yu for her work on this segment!

TikTok's recent lawsuit against the US government underscores critical lessons for all of us in the digital space. As we observe these unfolding events, here's why it matters for social media professionals: • Regulatory Impact: This case is a stark reminder of the increasing government scrutiny social media platforms are facing globally. It's crucial for us to stay informed and agile, ready to adapt our strategies to comply with new regulations. • Strategic Operations: The potential outcomes of this lawsuit could significantly alter how international companies operate in the U.S., affecting our strategic decisions and operational tactics. • Content Strategy: With changes possibly afoot for TikTok's U.S. operations, there's a need to reassess where and how we engage our audiences. Flexibility in content distribution and platform choice will be key. • Competitive Dynamics: Changes to TikTok could reshape the social media landscape, creating new opportunities for platforms to capture displaced users and marketers. Staying ahead means watching these shifts closely and being ready to pivot. • Data Security: At the heart of these discussions is data privacy—a pivotal concern for users and a critical area for us to uphold trust and integrity in our platforms. The situation with TikTok serves as a case study on the intersection of technology, law, and business, providing valuable insights for social media professionals about navigating complex regulatory environments while maintaining user engagement and trust. #SocialMedia #DigitalMarketing #DataPrivacy #BusinessStrategy #TikTok #RegulatoryChallenges

Is TikTok's Future on a Tightrope in the US? Recent developments have seen TikTok challenge the fairness of a potential US ban. The platform alleges that the decision might not be as impartial as expected, hinting at a pre-orchestrated outcome by U.S. senators. Key points to consider: - The accusation raises concerns about the legislative process. - It reflects the ongoing scrutiny of social platforms. - The potential ban could reshape social media dynamics. As digital professionals, we must stay abreast of these developments. They could signal significant shifts in digital policy and platform accessibility. What are your thoughts on the implications for global social media practices?

~The House Passes Bill that could Lead to US Ban of TikTok Application/Platform~ The House passed legislation that could ban TikTok in the US unless the app parts ways with its Chinese parent company, ByteDance. It's a major challenge to one of the world’s most popular social media platforms, used by 170 million Americans. If enacted, the bill, which passed on a bipartisan 352-65 vote, would give TikTok about five months to separate from ByteDance, or app stores in the US would be banned from hosting it on their platforms. It’s not yet clear what the fate of the measure will be in the Senate. Lawmakers supportive of the bill have argued TikTok poses a national security threat because the Chinese government could use its intelligence laws against ByteDance, forcing it to hand over the data of US app users. TikTok blasted the House vote and urged the Senate to "consider the facts." China’s foreign ministry responded angrily ahead of the vote, calling it an "act of bullying." It’s not yet clear what the future of the bill will be in the Senate, but that is the next step for the bill and if passed by them, President Biden said he would sign it into Law. “Bytedance”, Chinese owner of Tiktok would have to divest of (SELL) the platform to a US Company/Buyer or face being banned as an app/platform in our Country as a “High Level Security Risk”. This will not be an easy task or a rollover & play dead assignment for Bytedance, & they will assuredly fight back with all the legal force possible. (Note: Sequoia Capital VC has funded the parent Chinese Company Bytedance early on as an investor)~Stay Tuned….the Battle Goes On for This Popular Platform which charms Americans, often using the app at least once-a-day or more, and many use it for business & their livelihood!😵💫🤑🤷♂️😡🇺🇸🇨🇳…🏁⏰📱🚧🚨🎰😖🥊—-👊~~💪~(Re: CNN). ~Hamptons at Boca Raton, Florida Check out Glenn Stuart Harris's video! #TikTok https://lnkd.in/e3t8gfC7

Another hot take from today's announcement of the DMA gatekeepers, this paragraph from the House Judiciary Committee's 2020 Antitrust Report - the claimed factual predicate for the myriad antitrust bills that were introduced last Congress - has not aged particularly well: "The social network marketplace is highly concentrated. Facebook (1.8 billion users) and its family of products—WhatsApp (2.0 billion users) and Instagram (1.4 billion users)—have significantly more users and time spent on its platform than its closest competitors, Snapchat (443 million users) or Twitter (582 million users). TikTok is growing quickly and is often referenced as evidence that the social media landscape is competitive. Although it meets the broad definition of social media as a social app for distributing and consuming video content, TikTok is not a social network." Meanwhile, today, the EC designated four "Social Network gatekeepers": 1) TikTok 2) Facebook 3) Instagram 4) LinkedIn In other words, the EC views TikTok as such a competitor in the social media space it is now subject to the same regulatory burdens as Meta. #dma #digitalmarkets #competitionlaw #antitrust https://lnkd.in/eU5bY8yP

Yesterday, Sternlicht published a story revealing that, according to 11 former employees, TikTok retained ties to its China-based parent ByteDance—even after publicly saying the operations of the two entities had been separated. The story drew social media responses from Washington, including from FCC Commissioner Brendan Carr. These ties have been especially clear in the company’s data-sharing practices, some ex-employees say: Evan Turner, who worked at TikTok as a senior data scientist from April to September in 2022, said TikTok concealed the involvement of its Chinese owner during his employment. When hired, Turner initially reported to a ByteDance executive in Beijing. These are high-stakes revelations, as TikTok continues to be both a political hot potato and an insurgent social media darling. Sternlicht writes: The allegations of close ties, made in interviews between August and April, raise more questions about the relationship between TikTok and ByteDance. They also create more fodder for critics who fear the Chinese government could use TikTok as a sort of Trojan horse to spy on Americans by sifting through the huge amounts of digital data that it collects. And though TikTok has become a lightning rod, it’s also important to remember how we got here in the first place. Put simply, creators and consumers love TikTok. “TikTok occupies this really important place in the creator economy,” said Sternlicht. “The virality that you can get on TikTok doesn’t exist on Instagram or YouTube. On TikTok, you can go from someone who’s just a regular person to someone who’s truly famous on social media, and that’s an amazing thing.” At the beginning of our interview, Sternlicht had highlighted the gap between TikTok’s words and its actions when it comes to China. So, at the end I followed up with a final question: Does she think that gap will ever close? “I don’t know if it’s possible to say,” said Sternlicht. “But I really hope so, and I think from the employees that I’ve interviewed they definitely say that there’s been progress made in distancing itself from China…An employee who was there up until very recently said that Project Texas [TikTok’s initiative to protect Americans’ user data] is very effective, and they were familiar with the tech stack, so I think that’s a good sign.”

🔀 TikTok's Crossroads: Key Insights of a unique quest 🤜 🤛 U.S. vs. TikTok: Congress might force TikTok's sale over security fears linked to its Chinese parent company, ByteDance. A move sparking widespread debate. 🆘 Creators to the Rescue: In a unique defense, TikTok flies creators to Washington, leveraging personal stories and #KeepTikTok to sway public opinion. 🇺🇸 A Bipartisan Stance: Despite creator efforts, the House's broad support for the bill hints at tough Senate discussions ahead. 🇪🇺 Global Echo: As the U.S. acts, Europe eyes similar measures. The outcome here could set a precedent for international digital policy. What's at Stake: Beyond potential regulatory shifts, the saga forecasts transformative impacts on digital marketing and content strategy. ❓ Your Take? How will this affect our industry's landscape? And, will TikTok remain the same?

As small business owners, we're constantly navigating the ever-changing landscape of digital platforms and regulations. The recent Senate advancement of a bill to ban TikTok, as reported by AP News, serves as a poignant reminder of the importance of adaptability and foresight across industries. This development sparks debates on national security and data privacy, urging all businesses to reevaluate and adjust strategies accordingly. Diversifying marketing channels becomes crucial now. While TikTok's fate hangs in the balance, spreading efforts across platforms ensures continued audience engagement and visibility, minimizing risks. Moreover, the potential TikTok ban presents an opportunity for small businesses to explore new platforms and innovative strategies. Embracing emerging channels and creative approaches allows your business to stay ahead of the curve and connect with your audience effectively. In essence, the Senate's TikTok action reminds us to adapt and innovate. Your business can navigate digital shifts with resilience by staying informed and flexible, ensuring your business thrives amidst change. #smallbusiness #tiktokban #dataprivacy #digitalmarketing #marketingstrategy #adaptability #innovation #socialmediaagency #socialmediastrategist

As small business owners, we're constantly navigating the ever-changing landscape of digital platforms and regulations. The recent Senate advancement of a bill to ban TikTok, as reported by AP News, serves as a poignant reminder of the importance of adaptability and foresight across industries. This development sparks debates on national security and data privacy, urging all businesses to reevaluate and adjust strategies accordingly. Diversifying marketing channels becomes crucial now. While TikTok's fate hangs in the balance, spreading efforts across platforms ensures continued audience engagement and visibility, minimizing risks. Moreover, the potential TikTok ban presents an opportunity for small businesses to explore new platforms and innovative strategies. Embracing emerging channels and creative approaches allows your business to stay ahead of the curve and connect with your audience effectively. In essence, the Senate's TikTok action reminds us to adapt and innovate. Your business can navigate digital shifts with resilience by staying informed and flexible, ensuring your business thrives amidst change. #smallbusiness #tiktokban #dataprivacy #digitalmarketing #marketingstrategy #adaptability #innovation #socialmediaagency #socialmediastrategist