Biden's Closed-Door AI Meeting

Things are moving so fast, President Biden just met with 8 of the top AI experts in the world to figure out how to regulate it. And this small-cap is at the center of this AI-biotech revolution.

Legislation that could force a TikTok ban revived as part of House foreign aid package

MARY CLARE JALONICK and HALELUYA HADERO
April 18, 2024

WASHINGTON (AP) -- Legislation that could ban TikTok in the U.S. if its China-based owner doesn't sell its stake won a major boost late Wednesday when House Republican leaders included it in a package of bills that would send aid to Ukraine and Israel. The bill could be law as soon as next week if Congress moves quickly.

The TikTok legislation, which passed the House in March and has widespread support in both chambers, was included in the House foreign policy package after negotiations with the Senate over how long the Chinese technology firm ByteDance Ltd. would have to sell its stake for the app to continue operating in the United States. President Joe Biden has said he would sign the TikTok legislation if it reaches his desk.

The House legislation also won a key endorsement Wednesday from Senate Commerce Committee Chairwoman Maria Cantwell, who said in a statement that she had successfully pushed to extend the period from six months to a year to give the company enough time to find a buyer. While the original legislation had a six-month deadline for TikTok to be sold, the new House bill would give nine months and a possible three-month extension if a sale was in progress.

"Extending the divestment period is necessary to ensure there is enough time for a new buyer to get a deal done," said Cantwell, who had previously expressed doubts about the bill. "I support this updated legislation."

If Congress passes the TitkTok legislation, it would be an extraordinary and unusual moment in which both parties unite against one company - something lawmakers are usually reluctant to do. But the popular social media app has prompted widespread outrage on Capitol Hill, where there is bipartisan concern about Chinese threats to the United States and where few members use the platform themselves.

Opponents say they believe the ban would be unconstitutional. Since the House passed the legislation last month, there has been aggressive pushback from the company, content creators who make money on the app and some of the platform's 170 million U.S. users, many of whom are young. In some cases, lawmakers have received profanity-laced calls from users who were prompted by the app to call their representatives in Congress.

To date, the U.S. government has not provided evidence that shows TikTok shared U.S. user data with the Chinese government, or that Chinese authorities have tinkered with the company's popular algorithm, which influences what Americans see.

Since mid-March, the company has spent $5 million on TV ads opposing the legislation, according to AdImpact, an advertising tracking firm. The ads have included a range of content creators, including a nun, extolling the positive impacts of the platform on their lives and arguing a ban would trample on the First Amendment.

TikTok, which declined to comment on how much it was spending on TV ads, has also spent money on Facebook and Instagram ads that, among other things, talk about investments in data safety. The company has also mounted a lobbying campaign in Washington that included flying in content creators who rely on the platform for income.

Alex Haurek, a spokesman for the company, said in a statement Thursday that "It is unfortunate that the House of Representatives is using the cover of important foreign and humanitarian assistance to once again jam through a ban bill that would trample the free speech rights of 170 million Americans, devastate 7 million businesses, and shutter a platform that contributes $24 billion to the U.S. economy, annually."

Passage of the bill would be the most significant step Congress has taken in decades to regulate the tech industry. For years Congress has failed to act on bills that would protect users' privacy, protect children from online threats, make companies more liable for their content and put loose guardrails around artificial intelligence, among other things.

Still, it is a narrow shot at one company when many lawmakers would like to see broader change. A bipartisan group of senators has been pushing a Senate bill to protect kids online, and Cantwell recently struck an agreement with the Republican chairwoman of the House Energy and Commerce Committee, Washington Rep. Cathy McMorris Rodgers, on legislation to protect Americans' data privacy.

While most lawmakers support the TikTok bill, some have said it would set a dangerous precedent.

"The passage of the House TikTok ban is not just a misguided overreach; it's a draconian measure that stifles free expression, tramples constitutional rights, and disrupts the economic pursuits of millions of Americans," Kentucky Sen. Rand Paul posted on X after the House passed it.

Others are defending the app's loyal users.

"I am a NO on the TikTok bill we are about to vote on," Florida Rep. Maxwell Frost posted on X before the House vote. At 27, Frost is much younger than most of his colleagues.

"I believe the bill does set TikTok up to be banned," Frost said. "There are first amendment issues I see with taking away a platform that over 170 million American's use, and this won't fix the serious issues we have with data privacy."

Continue Reading...

Popular

Elon Musk Gives One-Word Response To Joe Biden's Dig At Donald Trump At White House Correspondents' Dinner

Elon Musk reacted to President Joe Biden's recent comments at the White House correspondents' dinner with a one-word response that sparked some discussion on social media.

Donald Trump Could Still Win Even If He Loses In Supreme Court Over Presidential Immunity Claim

Former President Donald Trump could see a strategic victory in his Supreme Court case, even if the court dismisses his claim regarding presidential immunity.

Why James Altucher SOLD All His Bitcoin - Ad

Crypto genius James Altucher has been praising Bitcoin since it was trading for $61. But now he's buying another coin like crazy... and it's not Bitcoin!

Campaign to build new California city submits signatures to get on November ballot

SAN FRANCISCO (AP) — A wealthy Silicon Valley-backed campaign to build a green city for up to 400,000 people in the San Francisco Bay Area has submitted what it says are enough signatures to qualify the initiative for the November election.

"America's No. 1 Retirement Stock" (Name Inside) - Ad

According to the former Goldman Sachs VP -- who wrote a best-selling book on retirement -- one single stock stands head-and-shoulders above all others. And it should be the cornerstone of your portfolio. Have you heard of it?

Amid Latest Indictments, Former Trump Aide Slams Ex-President Over Treatment Of 'Bodies Around Him': 'He Takes Out Everybody Who Is Loyal To Him'

Cassidy Hutchinson, a former aide to Donald Trump, publicly expressed her disapproval of the ex-president following the recent indictments of his associates in the Arizona fake electors scheme.

Delta Flight Returns To Atlanta After Takeoff: Boeing 757 'Yawing Aggressively'

Delta Air Lines flight from Atlanta to Ft. Lauderdale diverted back to Atlanta due to Boeing 757 yawing aggressively.

NOT Bitcoin or Options... But Already Making Folks Rich in 2024 - Ad

Former Goldman Sachs Trader Dr. David Eifrig just stepped forward with a way to protect your money this November -- no matter who wins the presidential seat. In fact, election chaos will likely make this even better. It's a "secret" of the rich and connected that 99% of folks don't know about...

Biden Reveals Personal Struggles After First Wife's Death: 'Let Me Just Go To The Delaware Memorial And Jump'

In a candid interview with radio host Howard Stern, President Joe Biden revealed his thoughts of suicide following the tragic death of his first wife and daughter.

Ethereum's Bottom Against Bitcoin 'Still Likely A Few Months Away,' Predicts Crypto Analyst

Prominent cryptocurrency analyst Benjamin Cowen predicted further bearish momentum for Ethereum (CRYPTO: ETH) to Bitcoi

The Military Is Handing You This Win - On a Silver Platter - Ad

The Ukraine war isn't being won just by its soldiers, it's being won by software. This "living software" has been such a difference-maker, the U.S. Army just signed a $1 billion contract with the company.

How to design a volunteering program in your workplace

More workplaces are bolstering their volunteer programs, especially as employee demands grow for socially responsible employers and engagement. Nearly three in five companies surveyed by the Association of Corporate Citizenship Professionals reported last year.

The Man Who Bought Bitcoin at $5 Reveals His Next Tiny Crypto Gem for 2024 - Ad

Early Bitcoin Millionaire Charlie Shrem just revealed his five little-known crypto coins that he believes could create generational wealth over the next 12 months. What's more, some of these tiny cryptos he's discovered trade for less than $1!

Courtroom Appearances By These Two Members Of Donald Trump's Family Could Help Him In Hush-Money Trial, Say Experts

As former President Donald Trump faces a hush-money trial, legal experts suggest that the presence of his wife, former First Lady Melania Trump, and daughter, Ivanka Trump, could significantly influence t

NY AG Letitia James Seeks To Void Trump's $175M Bond In Civil Fraud Case

The New York Attorney General Letitia James' office has moved to invalidate the $175 million bond secured by former President Donald Trump.

Small A.I. Firm Wins $2 Billion in Contracts for Breakthrough "Living Software" - Ad

Denver firm proves its possible to use AI to save the lives of soldiers in combat. England, Germany, Japan and Australia have all signed contracts within the past 18 months.

The A.I. Story Nobody is Telling You (Read ASAP) - Ad

There's been a lot of buzz surrounding A.I. over the past couple of years -- but there's only ONE story you should be worried about. Whether you have $500 or $500,000, this radical new A.I. Innovation will have a direct impact on your wealth.

A strong quarter for Wall Street lifts Goldman's first-quarter results

NEW YORK (AP) — Goldman Sachs said it saw a double digit rise in its first quarter profits on Monday, lifted broadly by the stock and bond markets' performances in the first months of the year.

The No. 1 Crypto for 2024 - Ad

It's expected to soar 20X bigger than Bitcoin.

After Biden Signs TikTok Ban Into Law, Top EU Leader Says Not Ruling Out Action Against Chinese Platform: 'We Know Exactly The Danger'

European Commission President Ursula von der Leyen stated that a TikTok ban in the EU is a possibility, mirroring steps already taken against the platform on Commission corporate phones.

JPMorgan's Dimon hopes for soft landing for US economy but says stagflation is a possible scenario

NEW YORK (AP) — JPMorgan Chase CEO Jamie Dimon says he’s hopeful the Federal Reserve can bring down inflation without causing a recession but wouldn’t rule out more troubling possibilities, such as stagflation.

This Is Where the World's Richest Men Are Putting Their Money - Ad

Bill Gates, Peter Thiel, Mark Zuckerberg -- they're pouring millions into something we call Imperium technology. And you can invest in this tech alongside them starting with just $10. Bill Gates called Imperium "one of the most powerful technologies of the 21st century."

A second new nuclear reactor is completed Georgia. The carbon-free power comes at a high price

ATLANTA (AP) — The second of two new nuclear reactors in Georgia has entered commercial operation, capping a project that cost billions more and took years longer than originally projected.

Bitcoin's Short-Term Holder Realized Price At $59,800; Analyst Says Falling Below This Could Trigger Notable 'Price Corrections'

Bitcoin (CRYPTO: BTC) has seen its short-term holder realized price at $59,800, which could potentially lead to a significant correction in its price, according to a prominent crypto analyst.

Ukraine's "Secret Weapon" Against Russia - Ad

Ukraine has a new weapon that's never been used before in war. This "living software" has been its secret weapon against Russia. The Wall Street Journal Reports: "it's a technical revolution." Early investors can reap 5,633% gains on the small company that makes it.

Elon Musk's X Faces Widespread Disruptions, Affecting Users Globally

Elon Musk's X, formerly known as Twitter, experienced outages on Monday with 4,122 users reporting issues. Musk rebranded to promote free speech.

Despite Microsoft, Google's 'Spectacular Quarters,' Billionaire 'Bond King' Bill Gross Warns Against Tech, Advocates For Value Stocks

Bill Gross, known as the "bond king," advises investors to avoid tech stocks despite strong quarters from Microsoft and Alphabet, recommending value stocks instead, while questioning the appeal of bonds with current yields.

Crypto Reboot Finally Makes An 8,788% Return Possible [NOT Bitcoin] - Ad

A crypto millionaire is revealing that a different cryptocurrency is going to do even better... It's not simply "buy the dip." Instead, it's a strategy that James learned during the dot com stock market crash. Not only has this strategy worked in a crash... it needs a crash to work best.

First major attempts to regulate AI face headwinds from all sides

DENVER (AP) — Artificial intelligence is helping decide which Americans get the job interview, the apartment, even medical care, but the to reign in bias in AI decision making are facing headwinds from every direction.

Why Real Brokerage Shares Are Gaining Today

Shares of The Real Brokerage surge as Qamar Group, led by CEO Rafay Qamar and COO Jana Pierce, joins, boosting market optimism.

The No. 1 AI Stock of 2024 (Not Nvidia) - Ad

It's not Nvidia, Meta Platforms, Alphabet, or Amazon. But thanks to a recent major deal, an under-the-radar stock could become the No. 1 winner of the AI boom. "This company just teamed up with one of the biggest power players in the AI industry... yet you can still buy it for just one-twelfth the price of Nvidia -- the time to buy is NOW," says Marc Chaikin.

Apple CEO says that he wants to increase investments in Vietnam

HANOI, Vietnam (AP) — Apple CEO Tim Cook said Tuesday that he wants to further increase investment in Vietnam a day after the company announced it would spending on suppliers in the Southeast Asian manufacturing hub.

Elizabeth Warren Says Trump Had Only 2 Accomplishments As President: 'Huge Difference Between' Biden, Trump

Elizabeth Warren thinks Donald Trump only accomplished two things when he was president and neither is highlighted as a positive by the senator.

Buy This A.I. Stock Before Elon's "A.I. Day" on May 16 - Ad

Luke Lango is now recommending this little-known A.I. stock because it could supply Elon Musk with a critical piece of infrastructure for his new A.I. venture, something Luke is calling "Elon's A.I. 2.0". Once Elon reveals it on May 16, you may have missed the biggest gains.

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 activatrade.ca
Privacy Policy | Terms of Service