Intel Chief Promotes Chipmaking Plan to U.S., Global Leaders

Intel chief executive Pat Gelsinger and board members met with the Biden administration to promote his company’s plan to build more semiconductor factories with subsidies from the U.S. government. Currently, Asian-owned chip factories, which receive hefty incentives, dominate chip production. There’s also an “unprecedented” global shortage of chips, which is impacting the auto and consumer appliance industries. Gelsinger was hired this year to improve the fortunes of the beleaguered Intel. Continue reading Intel Chief Promotes Chipmaking Plan to U.S., Global Leaders

Hong Kong Laws Could Drive Out Facebook, Twitter, Google

In Hong Kong, the Constitutional and Mainland Affairs Bureau is slated to enact data protection laws against doxing — making personal information public to enable harassment — which was used during the 2019 protests. Facebook, Alphabet’s Google and Twitter privately warned authorities that the new rules could put their staff at risk of criminal prosecutions, and if enacted, they may shut down their services. Punishment would be a fine of up to 1 million Hong Kong dollars (U.S. $128,800) and up to five years in prison. Continue reading Hong Kong Laws Could Drive Out Facebook, Twitter, Google

ByteDance’s TikTok Tests E-Commerce and Job Search Tools

In Europe, TikTok is working with streetwear label Hype and other brands to test in-app sales, a first step towards competing with Facebook in the e-commerce arena. Parent company ByteDance’s China-only app Douyin did $26 billion in e-commerce in its first year of operation. Sources reported that TikTok is already working with vendors in various European markets including the United Kingdom. TikTok is also working on another pilot program to connect people hunting for jobs with companies looking for employees. Continue reading ByteDance’s TikTok Tests E-Commerce and Job Search Tools

ByteDance Executive Shouzi Chew Is New TikTok Chief Exec

TikTok announced that Shouzi Chew — chief financial officer of parent company ByteDance — has been named chief executive of TikTok, replacing interim chief executive Vanessa Pappas. Pappas, who took on that role last year when then-chief executive Kevin Mayer departed, has been named global chief operating officer. Previous to his role at ByteDance, Chew was chief financial officer and international business president at Xiaomi, where he led the company’s initial public offering on the Hong Kong Stock Exchange. Chew is fluent in English and Chinese. Continue reading ByteDance Executive Shouzi Chew Is New TikTok Chief Exec

More Details on Oracle’s Bid to Be TikTok’s Trusted Partner

Although Microsoft and Walmart’s joint bid was considered the leader to become the “trusted partner” of the U.S. operations of ByteDance’s social video app TikTok, cloud and platform services company Oracle has come out on top. The structure of the Oracle deal is still unknown, but one source said it will not be an “outright sale.” The White House and the Committee on Foreign Investment in the United States (CFIUS) still have to approve the proposal. President Trump stated he would ban TikTok if it isn’t sold by September 20. TikTok has about 100 million monthly users in the U.S. Continue reading More Details on Oracle’s Bid to Be TikTok’s Trusted Partner

Qualcomm Faces Bright 5G Future After Appeals Court Ruling

Qualcomm reached the end of a trying five-year period, battered by antitrust allegations, U.S.-China trade tensions, an activist shareholder and Broadcom’s hostile takeover attempt among other obstacles. This week, the U.S. Court of Appeals for the Ninth Circuit vacated a 2019 ruling by a federal judge that Qualcomm had overcharged phone makers for its patents and abused its monopoly position. Qualcomm chief executive Steve Mollenkopf is now predicting sales of between 175 million and 225 million 5G devices this year. Continue reading Qualcomm Faces Bright 5G Future After Appeals Court Ruling

TikTok Counters Critics, Regulators With More Transparency

TikTok chief executive Kevin Mayer published an open letter aimed at regulators intent on curbing its reach. After listing some of the app’s accomplishments in its thus-far short term in social media, he focused on charges critics are levying. He admitted that, “with our success comes responsibility and accountability,” but insisted that the company is made up of “responsible and committed members of the American community that follows U.S. laws.” The company has launched an effort to win over critics with increased transparency. Continue reading TikTok Counters Critics, Regulators With More Transparency

Security Regulation Causes Tech Firms to Rethink Hong Kong

Since China imposed its new national security law in Hong Kong, numerous technology companies — especially startups — are making plans to leave the city, just as it was developing into a significant regional fintech hub. One reason is that clients and suppliers are concerned that their data and Internet services will be under the surveillance of Chinese authorities. While the startups are already packing up, the bigger technology companies, including Facebook, Google and Twitter, are mulling over their next move. Continue reading Security Regulation Causes Tech Firms to Rethink Hong Kong

Rivals Apple and Google Collaborate on Contact-Tracing Tool

Long-time rivals Apple and Google joined forces to build software into smartphones that would alert people who have recently been in contact with someone infected with the coronavirus. Users will have to opt-in to use the tool, which will be ready to release in “several months” and enable smartphones to “constantly log other devices they come near,” to accomplish what is called contact tracing. It also relies on a user’s voluntary report of having become infected. The two companies said they teamed-up in the last two weeks. Continue reading Rivals Apple and Google Collaborate on Contact-Tracing Tool

SoftBank Charts New Direction Following WeWork Debacle

SoftBank Group founder Masayoshi Son and board director Rajeev Misra, who is also SoftBank Investment Advisers chief executive, are focused on saving the Vision Fund, whose bets on Uber Technologies and WeWork have been disastrous. Last week, SoftBank bailed out WeWork, whose value had dipped 80 percent below its peak, with $10 billion. The London-based private investment fund debuted two years ago, with the goal of raising $100 billion to invest in startups valued at $1+ billion, the so-called unicorns of Silicon Valley. Continue reading SoftBank Charts New Direction Following WeWork Debacle

Foreign Investment Law Does Not Deter Chinese Investing

The U.S. has yet to define the specifics of a 2018 law designed to limit foreign access to critical technologies. In the meantime, Chinese investors continue to put money in U.S. startups and venture capital funds. U.S. tech entrepreneurs also welcome a connection with China, and investment between the two countries remains significant. The tangle of investments in a single company can make it hard to determine provenance. Even so, successful Chinese AI startup SenseTime Group was blacklisted by the Trump administration. Continue reading Foreign Investment Law Does Not Deter Chinese Investing

Alibaba Dominates E-Tail in China But Fails to Thrive Abroad

In its last fiscal year, which ended in March, Alibaba Group’s 654 million customers bought $835 billion worth of goods, with revenues of $56.2 billion, cementing the company’s credentials as the world’s largest e-tailer. Put another way, the company handled more business than Amazon and eBay combined. Notably, 66 percent of Alibaba’s revenue — $36.9 billion — came from China. But translating that success to other countries has proven elusive — a mere 5 percent of the company’s revenue came from international locations. Continue reading Alibaba Dominates E-Tail in China But Fails to Thrive Abroad

Amazon Enables Tailored Recommendations via AI Service

Amazon is launching a new service called Amazon Personalize in select regions of the U.S., Asia and Europe, with additional locations to be added. The service, first revealed at last year’s re:Invent conference, aims to personalize the customer experience by helping developers build apps, websites, email marketing and content management systems that provide product recommendations and personalized search results. “We are excited to share with AWS customers the expertise we’ve developed during two decades of using machine learning to deliver great experiences on Amazon.com,” said Swami Sivasubramanian, VP of machine learning. Continue reading Amazon Enables Tailored Recommendations via AI Service

Facebook Opens New Command Post Ahead of EU Election

As part of a range of efforts to show that it has taken regulator and governmental concerns seriously, Facebook has set up an operations center in its European headquarters in Dublin, Ireland ahead of the upcoming European Union’s parliamentary election, which is scheduled for May 23-26 across 28 countries. Employees will monitor and clear Facebook of misinformation, fake accounts, and any signs of foreign meddling aimed at swaying election results. Facebook recently set up a similar post in Singapore for elections in India.

Continue reading Facebook Opens New Command Post Ahead of EU Election

Global Regulators Looking Into Facebook Privacy Practices

Regulators have reached a tipping point with Facebook after years of half-measures regarding the social media giant’s security-related missteps. Now, regulators across four continents are attempting to reign in Facebook’s behavior. In the United States, the Federal Trade Commission hasn’t come to a decisive conclusion regarding what constraints to implement, but the agency is looking to address a wide range of issues, including violations reported almost monthly, according to a source close to the investigation.

Continue reading Global Regulators Looking Into Facebook Privacy Practices

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