Last Updated on 09/12/2022 by てんしょく飯
U.S. technology giants and lawmakers are growing increasingly wary of TikTok, the fastest growing video platform on the planet, owned by China’s ByteDance.
TikTok is driving other companies out of the market,” Scott Galloway, a professor at NYU’s Stern School of Business, told Snap CEO Evan Spiegel at the Code Conference in Los Angeles on September 7.
U.S. technology giants and lawmakers are growing increasingly wary of the video platform TikTok.
According to August data from the Pew Research Center, TikTok is now more popular among teens than Instagram or Snapchat and is expanding its reach to adults amid the pandemic. Conference moderator and journalist Kara Swisher remarked, “While U.S. social networking sites are inaccessible from China, TikTok, operated by Chinese companies, is stealing revenue from U.S. companies.”
At this year’s Code Conference, some of the world’s leading tech and media CEOs raised concerns about the power, rapid growth, and surveillance capabilities of the Chinese platform, with TikTok notable as the only major social networking company not in attendance.
One of the reasons companies around the world are struggling to deal with TikTok is that their investment is just too big.” No other company can spend billions and billions of dollars to acquire new users like they can,” said Snap’s Spiegel, who recently laid off about 20% of his company’s workforce.
From its early days, “TikTok used huge amounts of money to scale up, train its recommendation algorithms, and create more personalized feeds,” Spiegel said. He said Snapchat will now compete with TikTok by continuing to focus on connections with family and friends, not strangers.
Google CEO Sunder Pichai also noted that TikTok is one of its newest and biggest competitors, especially with regard to YouTube. He said in an interview at the conference on April 6 that “competition in the technology sector is fierce and unexpected rivals like TikTok have emerged.”
Meanwhile, Democratic Senator Amy Klobuchar, who is leading antitrust legislation targeting IT giants such as Google, Apple, Amazon, and Meta, warned that TikTok could soon be included in the regulatory scheme.
There’s a good chance that there will be legislation on TikTok,” Senator Klobuchar, R-Minnesota, told Swisher on September 6. She said, “It could be legislation related to national security, but if TikTok were to reach gatekeeper status, they would be included in the regulatory scheme.”
TikTok should be banned in democracies.
The strongest critic of TikTok at this year’s Code Conference was Mathias Döpfner, CEO of Axel Springer, which owns media outlets such as Insider, Politico, and Protocol. He described TikTok as “the most prominent competitor” in the media and content industry and said the platform should be banned.
‘TikTok should be banned in all democracies. Facebook, Google, and Amazon cannot expand into China. So why is TikTok allowed to play such a dominant role in our free market?” He noted.
Former White House press secretary Jen Saki also agreed with the criticism of TikTok, calling such tradeoffs a “moral dilemma. “At the conference on August 7, Saki said, “The issue of Chinese surveillance is troubling, but those who choose not to dare use TikTok are leaving the competition in the market. They’re not going to be able to compete in the market. Their reach is so huge,” he told Swisher.
Even Apple CEO Tame Cook seems to have an opinion on the matter: In a panel on Jobs’ legacy with Lauren Powell Jobs and Apple’s former chief design officer, Jony Ive, on April 7, Cook asked about the iPhone’s apps contributing to today’s political and social divide. Asked about the contribution it is making to the divide, he said, “If Steve Jobs were alive, he would have hated this situation.
Cook said, without naming names, “We don’t manufacture phones to make someone scroll through endless feeds.”
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