TikTok is targeting a massive four-fold increase in global e-commerce revenue this year, aiming for $20 billion in sales. The social media platform reported gross merchandise activity of $4.4 billion last year, which reflects the total sale of goods via the TikTok Shop e-commerce solution. TikTok is banking on significant growth in markets including Indonesia, where influencers live-stream shopping pitches for everything from denim jeans to lipstick. The U.S. and Europe account for a tiny portion of the projected goal, but TikTok is hoping for modest gains in those areas as well. Continue reading TikTok Is Aiming for $20 Billion in Global E-Commerce Sales

Taiwan’s TSMC, the largest semiconductor manufacturer in the world, is seeking $15 billion in U.S. subsidies to help build two chip factories in Arizona, but is pushing back against terms that include sharing detailed information about its stateside operations and possibly profits. Some South Korean semiconductor firms are also said to have raised objections. The White House contends the criteria are in place to protect American taxpayers and ensure the subsidies are being spent as intended. TSMC has pledged $40 billion of its own funds for the project. Continue reading TSMC Seeks $15 Billion in U.S. Incentives to Build Foundries

In what the White House says is a precedent-setting move, President Biden has signed an executive order prohibiting use by the U.S. Government of “commercial spyware,” powerful cyber technology used by state actors to spy on journalists, dissidents and human rights activists. The White House defined the class of apps as “sophisticated and invasive cyber surveillance tools sold by vendors to access electronic devices remotely, extract their content, and manipulate their components, all without the knowledge or consent of the devices’ users,” explaining such technology “has proliferated in recent years with few controls and high risk of abuse.” Continue reading Biden Restricts the Government Use of Commercial Spyware

TikTok CEO Shou Zi Chew plans to offer broad platform safety and security promises at his hearing before the House Energy and Commerce Committee, according to testimony provided in advance of today’s event. The well-being of child users will be a point of focus, as will the Chinese-owned app’s proposed firewall to protect U.S. data from foreign access and government interference. “TikTok will remain a platform for free expression and will not be manipulated by any government,” Chew’s prepared remarks indicate, noting “there are more than 150 million Americans who love our platform.” Continue reading TikTok CEO Testifies Before Congress as App Faces Scrutiny

A video editing app from China’s ByteDance is gaining in popularity in the U.S. even as the parent company comes under fire for its viral video app TikTok potentially threatening national security. App-tracking firms including Shanghai-based Diandian show CapCut has more U.S. downloads than TikTok in recent weeks. CapCut lets users quickly create online memes and videos using templates and filters that include music and visual effects. Users say the app helps them achieve professional-looking results that are more likely to go viral on TikTok, as well as Facebook, Meta’s Instagram and Google’s YouTube. Continue reading ByteDance Video Editing App ‘CapCut’ Gains Traction in U.S.

The Biden administration has reportedly come to the conclusion that ByteDance must sell its stake in TikTok or face the possibility of a U.S. ban. The decision comes as Congress turns up the heat on action against TikTok, which is suspected of compromising U.S. data and potentially manipulating news feeds to influence opinion. It follows a quiet, years-long assessment by the Committee on Foreign Investment in the U.S. (CFIUS), which The Wall Street Journal says “made the sale demand recently.” The Treasury Department, which oversees CFIUS, declined to comment. Continue reading ByteDance Must Sell Chinese TikTok Stake or Face U.S. Ban

A former TikTok employee has stepped forward to inform congressional investigators that the company’s proposal for protecting U.S. user data is “deeply flawed,” potentially leaving data for more than 100 million American citizens exposed to parsing by China-based entities, including parent company ByteDance and Chinese Communist Party (CCP) rulers. The allegations come at a sensitive time in negotiations with the Committee on Foreign Investment in the United States (CFIUS) to keep TikTok operating in the U.S. over the objection of a bipartisan contingent of lawmakers, who are calling for a ban. Continue reading Former TikTok Worker Tells Congress Project Texas ‘Flawed’

A bipartisan Senate bill to mitigate risks from adversarial nations is making its way around the hill. The Restricting the Emergence of Security Threats that Risk Information and Communications Technology (RESTRICT) Act directs the Commerce Department to implement procedures that “identify, deter, disrupt, prevent, prohibit and mitigate” foreign technology threats, as well as requiring Commerce to make available to intelligence agencies declassified information on the nature of the risk. The legislation is the most recent salvo by Congress in its attempt to repel invasive technologies by countries whose values clash with ours, exemplified by TikTok and China. Continue reading Senate RESTRICT Act Cracks Down on Tik Tok, Foreign Tech

The Biden administration has issued rules requiring key U.S. companies to meet minimum cybersecurity standards. The new National Cybersecurity Strategy (NCS) calls on software makers and American industry to be more active in the fight to repel hackers and ransomware groups even as the FBI accelerates global efforts to disrupt bad actors. Although the strategy is a policy document rather than an executive order, it represents a major policy shift, escalating participation by both the public and private sectors, while anticipating legislative changes required to give teeth to the plan. Continue reading Biden Advocates Tougher Cybersecurity for Private Enterprise

U.S. government agencies have 30 days to remove the TikTok app from federal devices and systems, the White House said Monday. A memo from Office of Management and Budget director Shalanda Young advised that in the interest of national security, the China-owned app must be purged from phones and Internet traffic firewalled from reaching it. The government ban was ordered by Congress in December, and follows similar moves in Canada, Taiwan, the EU, and many U.S. states. While the policy affects only a small portion of U.S. TikTok users, it fuels the controversy and emboldens those calling for an outright ban on the ByteDance-owned video app. Continue reading White House Gives Agencies 30 Days to Impose a TikTok Ban

The U.S. is increasing efforts to thwart technology theft, launching what some are calling a “hack back” attack against adversaries who use illegal means in attempts to steal developmental secrets or strike at supply chains. Operating from 12 metropolitan regions, the new Disruptive Technology Strike Force (DTSF) will enforce laws protecting U.S. advanced technologies from illegal acquisition and use by nation-states. The goal of the DTSF — a joint venture of the Department of Justice and the Commerce Department — is “to strike back against adversaries trying to siphon off our best technology,” deputy attorney general Lisa Monaco said. Continue reading Federal Government Creates Strike Force to Fight Tech Theft

Regulatory pressure continues to build against TikTok and the company’s Beijing-based owner. Another state has joined the federal fight to ban the short-form video app, with Virginia this month passing legislation prohibiting TikTok and WeChat from use on state government devices. Meanwhile, on Thursday Senators Richard Blumenthal (D-Connecticut) and Jerry Moran (R-Kansas) wrote Treasury Secretary Janet Yellen — who also chairs the Committee on Foreign Investment in the U.S. — advising CFIUS  to “impose strict structural restrictions between TikTok’s American operations and its Chinese parent company, ByteDance, including potentially separating the companies.” Continue reading National Security Pressure Continues to Build Against TikTok

TikTok toured journalists through its new Transparency and Accountability Center last week. Located in Culver City, the facility features monitors displaying infographics that show how TikTok’s recommendation engine and content moderation affect the short-form videos that are the basis of its viral app. Computer workstations running a “code simulator” were made available so visitors could explore firsthand how the app’s algorithms influence video propagation. TikTok COO Vanessa Pappas told attendees that the new center, in development since 2020, aims to give lawmakers and others a more personal experience than the virtual tours previously offered. Continue reading TikTok Ups Transparency Efforts as Government Heat Builds

Quantum computing promises future benefits, but also poses present-day cybersecurity risks that the federal government is urging commercial businesses to prepare for now. In fact, a law passed in December, the Quantum Computing Cybersecurity Preparedness Act, requires federal agencies to develop security plans addressing the vulnerability posed by the so-called “Y2Q” moment. Quantum computers are so quick and efficient as to be able to crack virtually any encryption. Although quantum computing is still in the development stage, the machines are expected to reach practical operability by 2030. Continue reading Feds Say Time to Prep for Y2Q Quantum Computer Hacking

TikTok is in discussions with U.S. lawmakers about a $1.5 billion plan to reorganize its operations in order to provide more transparency and allay fears of Chinese spying and data manipulation. The talks have become more urgent in recent months as regulators at the federal and state level are threatening to ban the short-form video app on government-issued devices. TikTok parent ByteDance been negotiating with CFIUS, the Committee on Foreign Investment in the U.S. since 2019, when an investigation was opened following the Beijing-based media firm’s acquisition of Musical.ly, which it merged into TikTok. Continue reading TikTok Considers $1.5 Billion Plan to Quell Security Concerns