This Is How the AI Bull Market Ends

The AI bull market as we know it right now will end...And all the big popular AI stocks investors are piling into right now will NOT be the where the biggest returns will come from. And for investors who don't know how the market is changing and where it's going...They could end up left behind.

TikTok heads to court over US law that could lead to a ban on the popular platform

HALELUYA HADERO
September 16, 2024

The U.S. government and TikTok will go head-to-head in federal court on Monday as oral arguments begin in a consequential legal case that will determine if - or how -- a popular social media platform used by nearly half of all Americans will continue to operate in the country.

Attorneys for the two sides will appear before a panel of judges at the federal appeals court in Washington. TikTok and its China-based parent company, ByteDance, are challenging a U.S. law that requires them to break ties or face a ban in the U.S. by mid-January. The legal battle is expected to reach the U.S. Supreme Court.

The law, signed by President Joe Biden in April, was a culmination of a years-long saga in Washington over the short-form video-sharing app, which the government sees as a national security threat due to its connections to China. But TikTok argues the law runs afoul of the First Amendment while other opponents claim it mirrors crackdowns sometimes seen in authoritarian countries abroad.

In court documents submitted over the summer, the Justice Department emphasized the government's two primary concerns. First, TikTok collects vast swaths of user data, including sensitive information on viewing habits, that could fall into the hands of the Chinese government through coercion. Second, the U.S. says the proprietary algorithm that fuels what users see on the app is vulnerable to manipulation by Chinese authorities, who can use it to shape content on the platform in a way that's difficult to detect.

TikTok has repeatedly said it does not share U.S. user data with the Chinese government and that concerns the government has raised have never been substantiated. In court documents, attorneys for both TikTok and its parent company have argued that members of Congress sought to punish the platform based on propaganda they perceived to be on TikTok. The companies also claimed divestment is not possible and that the app would have to shut down by Jan. 19 if the courts don't step in to block the law.

"Even if divestiture were feasible, TikTok in the United States would still be reduced to a shell of its former self, stripped of the innovative and expressive technology that tailors content to each user," the companies said in a legal brief filed in June. "It would also become an island, preventing Americans from exchanging views with the global TikTok community."

Opponents of the law stress a ban would also cause disruptions in the world of marketing, retail and in the lives of many different content creators, some of whom also sued the government in May. TikTok is covering the legal costs for that lawsuit, which the court has consolidated with the company's complaint and another filed on behalf of conservative creators who work with a nonprofit called BASED Politics Inc.

Though the government's primary reasoning for the law is public, significant portions of its court filings include classified information that has been redacted and hidden from public view. The companies have asked the court to reject the secret filings or appoint a district judge who can ferret through the material, which the government has opposed because it will cause a delay in the case. If admitted into the court, legal experts say those secret filings could make it nearly impossible to know some of the factors that could play a part in the eventual ruling.

In one of the redacted statements submitted in late July, the Justice Department claimed TikTok took direction from the Chinese government about content on its platform, without disclosing additional details about when or why those incidents occurred. Casey Blackburn, a senior U.S. intelligence official, wrote in a legal statement that ByteDance and TikTok "have taken action in response" to Chinese government demands "to censor content outside of China." Though the intelligence community had "no information" that this has happened on the platform operated by TikTok in the U.S., Blackburn said there is a risk it "may" occur.

In a separate document submitted to court, the DOJ said the U.S. is "not required to wait until its foreign adversary takes specific detrimental actions before responding to such a threat."

The companies, however, argue the government could have taken a more tailored approach to resolve its concerns.

During high-stakes negotiations with the Biden administration more than two years ago, TikTok presented the government with a draft 90-page agreement that allows a third party to monitor the platform's algorithm, content moderation practices and other programming. TikTok says it has spent more than $2 billion to voluntarily implement some of these measures, which include storing U.S. user data on servers controlled by the tech giant Oracle. But it said a deal was not reached because government officials essentially walked away from the negotiating table in August 2022.

Justice officials have argued complying with the draft agreement is impossible, or would require extensive resources, due to the size and the technical complexity of TikTok. The Justice Department also said the only thing that would resolve the government's concerns is severing the ties between TikTok and ByteDance given the porous relationship between the Chinese government and Chinese companies.

But some observers have wondered whether such a move would accelerate the so-called "decoupling" between the U.S. and its strategic rival at a time when other China-founded companies, such as Shein and Temu, are also making a big splash in the West. Last week, the Biden administration proposed rules that would crack down on duty-free products being shipped directly from China.

For its part, ByteDance has publicly said TikTok is not up for sale. But that has not stopped some investors, including former Treasury Secretary Steven Mnuchin and billionaire Frank McCourt, from announcing bids to purchase the platform. However, even if such a sale would occur, it would most likely be devoid of TikTok's coveted algorithm, leaving a big question mark on whether the platform would be capable of serving up the type of personally tailored videos that users have come to expect.

The political alignments on the issue are playing out in unconventional ways.

The law, which passed with bipartisan approval in Congress, had encountered resistance from some progressive and Republican lawmakers who voiced concerns about giving the government the power to ban a platform used by 170 million Americans. Former President Donald Trump, who tried to ban TikTok while in office, is now opposing a ban because that would help its rival, Facebook, a platform Trump continues to criticize over his 2020 election loss.

In court, free speech and social justice groups have submitted amicus briefs in support of TikTok, arguing it restricts the First Amendment rights of users and suppresses the speech of minority communities by disrupting a tool many of them use to advocate for causes online. Some libertarian groups with ties to ByteDance investor Jeff Yass have also filed briefs supporting the company.

Meanwhile, the Biden administration has received the backing of more than 20 Republican attorneys general, former national security officials and China-focused human rights groups who are asking the court to uphold the law.

Continue Reading...

Popular

Elon Musk Laughs At The Idea Of Dick Cheney Supporting Kamala Harris For President

Elon Musk humorously commented on the recent endorsement of Kamala Harris by George Bush Jr.-era former Vice President Dick Cheney.

DO NOT Make Another Trade Without Seeing This First - Ad

Starting September 23... a huge secret of the markets could help you consistently target gains like: 126%... 245%... even 463% or more... often in 30 days or less... No matter what the market does next.

Goldman Sachs Sees Gold Higher, Takes A Downbeat Stance On Iron Ore

Goldman Sachs bullish on gold, citing central bank demand and expected Fed rate cut. Price target of $2,700/oz by 2025. Iron ore forecast downgraded.

The "Amazon Coin" -- To Be Bigger Than Bitcoin? - Ad

Starting September 23rd, this tiny 3-cent crypto could partner with one of the biggest companies in the world... Amazon. Declassified video reveals "Amazon Coin" ahead of $27 trillion crypto revolution. One team of crypto experts have identified it as the most promising crypto of 2024.

NBA Legend Shaq Shows Off His New Widebody Carbon Fiber Tesla Cybertruck: Elon Musk Has A One Word Reaction

NBA legend Shaquille O'Neal, also known as Shaq, showed off his new Tesla Cybertruck featuring a widebody carbon fiber design, which is the first of its kind in the world.

Used Car Seller Carvana On Road To $15B Revenue By 2025 As Unit Growth Accelerates: BofA

BofA analyst reinstates Buy rating for Carvana with $185 price target. Expects sustained growth in recovering market and improved financials.

Could You Retire on a Single AI Stock (Trading for Only $15)? - Ad

Imagine what the perfect AI stock would look like...forefront of AI trend...virtual monopoly in its market... exempt from federal taxes. As you're about to see, this perfect AI stock does exist, and is currently trading for only $15. With just one investment, you could potentially set yourself up for massive financial gains.

Japan's trade deficit grows while both imports, exports fall short of forecasts

TOKYO (AP) — Japan posted a trade deficit for a second straight month in August, the Finance Ministry said Wednesday, despite signs of sluggish consumer spending that weighed on imports.

Huge payout expected for a rare coin bought by Ohio farm family and hidden for decades

TOLEDO, Ohio (AP) -- Three sisters from Ohio who inherited a dime kept in a bank vault for more than 40 years knew it had some value. But they had no idea just how much until just a few years ago.

Apple Staring At 'Lower Than Expected' Demand For iPhone 16 Pro And Pro Max In The First Weekend, Says Top Analyst

Apple is experiencing lower than anticipated demand for its iPhone 16 Pro and Pro Max models during the first weekend of pre-orders, according to top analyst Ming-Chi Kuo.

The 2024 Olympics were a success for Paris but a calamity for some of its businesses

PARIS (AP) — Parisian business owners and hotel managers were promised a summer like no other. Millions of tourists would flood the French capital for the and , generating huge profits for Paris and its region.

September 23 - The Biggest Crypto Event in History - Ad

According to the man who called every major market top and bottom for the last 29 years... A single event triggering on September 23rd will send the crypto market soaring. But what's more exciting... is that this event could send a small sector of the crypto market soaring 5X, 25X, and even 100X higher in just days.

Mark Zuckerberg Says He Is Done Apologizing, Reveals One Of The Biggest Mistakes Of His Career

Meta CEO Mark Zuckerberg says he has grown tired of taking on too much ownership of problems beyond his or his company's control.

Imminent FDA Decision Could End Obesity in America... - Ad

...and spark a 224,000% sales surge for one tiny micro-cap stock. Channelnomics says it "Could have a greater impact on the world than artificial intelligence." BMO Capital calls it "A goldmine for investors." The Wall Street Journal says it's "A Gold rush."

Consumer Tech News (Sep 8-Sep 14): Gaming Industry Biggies Facing Accusations For Decieving Players, Apple Launches iPhone 16 & More

The tech sector is facing weakness despite AI hype. Gaming companies face accusations of overspending, while Netflix's mobile gaming catalog hits 210M downloads. Microsoft's Xbox Game Pass overhaul impacts anticipated titles. DirecTV accuses Disney of bad faith negotiations.

Navy officer demoted after installing unauthorized satellite dish on warship to access internet

SAN DIEGO (AP) — A U.S. Navy chief who wanted the internet so she and other enlisted officers could scroll social media, check sports scores and watch movies while deployed had an unauthorized Starlink satellite dish installed on a warship and lied to her commanding officer to keep it secret, according to investigators.

My No. 1 Oil Play for 2024 - Ad

Do you own oil and gas stocks? Or are you thinking about buying some? If so, you need to see my #1 oil play for 2024. But it's NOT oil stocks, futures, or anything you've likely heard about. Rather, it's an unusual way to potentially bank monthly income from the oil and gas markets.

Treasury recovers $1.3 billion in unpaid taxes from high wealth tax dodgers

WASHINGTON (AP) — The IRS has collected $1.3 billion from since last fall, the agency announced Friday, crediting spending that has ramped up collection enforcement through President Joe Biden's signature signed into law in 2022.

The next generation of Buffetts is poised to become one of the biggest forces in philanthropy

OMAHA, Neb. (AP) — The next generation of Buffetts — Howard, Susie and Peter — is poised to become one of the most powerful forces in when their 94-year-old father, the legendary businessman and leader of Berkshire Hathaway, , eventually passes away.

The Last Time Gold Flashed This Warning Sign, the Market Dropped 80% - Ad

Both President Trump and Elon Musk are warning about something that could send the market down 50%, real estate down 40% and savings accounts down 30%.

Volkswagen Recalls Every ID.4 SUV in U.S. for Door Malfunction Concerns

German automaker Volkswagen is recalling 98,806 of its ID.4 electric SUVs in the U.S. citing concerns about the door handles opening unexpectedly, the U.S. National Highway Traffic Safety Administration said on Tuesday.

5 Stocks That Could Triple in a Week - Ad

What if I told you that I have a system that has detected when these tiny stocks are on the verge of exploding... And what if I told you my system has targeted 5 new stocks that could triple as early as next week? Pay just $5 for a full year of Stealth Trades before this deal disappears!

US-sanctioned Serbia official meets Putin, says Belgrade is an ally and won't join Western penalties

Serbia is a Russian ally and will never impose sanctions against Moscow or join NATO, the Balkan nation’s deputy prime minister said Wednesday as he met with Russian President Vladimir Putin.

Don't Tell ANYONE About This Altcoin (Until It Pops)... - Ad

Quiet now! This governance token could be the sleeping giant of the crypto world... In the next bull market, this "DeFi 2.0" powerhouse might soar 10x... 50x... perhaps even 100x.

Turkey's Spy Chief Meets With Hamas To Discuss Cease-Fire In Gaza: Reports

Turkey's intelligence chief met with Hamas in Ankara to discuss Gaza ceasefire negotiations, as Turkey denounces Israel's assault and conducts intensive diplomacy.

Man Who Called Nvidia at $1.10 Says Buy This Now... - Ad

In 2004, a man predicted Nvidia's rise. Now, he says a new company, which IPO'd in 2023, could soar like Nvidia. It signed a major deal with Apple for its AI tech in iPhones and iMacs. Could it be the next trillion-dollar company? See why he believes it's among "The Next Magnificent Seven."

Nvidia, NetApp And 2 Other Stocks Executives Are Selling

When insiders sell shares, it could be a preplanned sale, or could indicate their concern in the company's prospects or that they view the stock as being overpriced.

Stellantis Fires Back At US Dealer Council's Allegation Of 'Short-Term Decision-Making:' Carmaker Says 'Public Personal Attacks' Not The Way To Solve Problems

Carmaker Stellantis NV said on Wednesday that it takes "absolute exception" to the open letter sent by the President of U.S. Stellantis National Dealer Council (NDC) Kevin Farrish to company CEO Carlos Tavares, terming it a "public personal attack."

Do Not Day Trade (Do This Instead) - Ad

Forget day trading (especially in markets like these). Trade OVERNIGHT instead! I've uncovered a shocking way to take 100% certain events (mandated by the U.S. Government)...And target OVERNIGHT payouts like: 253%... 327%... Even 383%! Enough to potentially hand you profits of $25,300... $32,700... heck even $38,300!

Nvidia Set To Reach $10 Trillion Valuation As Blackwell Expected To Propel Chip Maker With 'Fireworks Again' In 2025, Analyst Predicts

NVIDIA Corp is projected to surge to a $10 trillion valuation, according to Beth Kindig, lead tech analyst at I/O Fund. Kindig highlighted the potential of Nvidia's next-generation artificial intelligence chip, Blackwell.

Behind the nonprofit helping a diverse new generation of culinary professionals heat up New York

NEW YORK (AP) — A side of beef bigger than a classroom desktop sat before high school students huddled around a kitchen on New York's Lower East Side. “Anyone wanna jump in?” asked the butcher teaching the Tuesday afternoon class. One student dared, grabbing a sawblade about as long as his arm and sweating to successfully separate the short rib from the rib eye.

Elon Musk: Without This Company, "Civilization Will Crumble" - Ad

Did you know that there's an investment that will give you the opportunity to collect "royalties" every time Nvidia makes a chip? Ex-Wall Street CEO Dylan Jovine calls this "the easiest windfall from the AI revolution." Even ChatGPT founder Sam Altman says AI depends on this company's work...

Trump's Campaign Slapped With Lawsuit Threat After Jack White Calls Them 'Fascists'- 'You Should Lose Every Military Family's Vote Immediately!'

Jack White of the White Stripes has condemned Donald Trump's campaign as "fascists" and threatened legal action after an aide used a clip of the band's 2003 hit "Seven Nation Army" in a pro-Trump social media post.

Trending Now

Information, charts or examples are for illustration and educational purposes only and not for individualized investment management This message contains commercial elements, such as advertising. We only send these offers to those who have opted in to our newsletter. Past performance is not indicative of future results. For these reasons we strongly suggest trading in a DEMO/Simulated account. The information provided by us is for educational and informational purposes only. We make no representations or warranties concerning the products, practices or procedures of any company or entity mentioned or recommended and have not determined if the statements and opinions of the advertiser are accurate, correct or truthful. If you use, act upon or make decisions in reliance on information contained or any external source linked within it, you do so at your own peril and agree to hold us, our officers, directors, shareholders, affiliates and agents without fault.

Copyright markethundred.com
Privacy Policy | Terms of Service