Social media is a problem for economists. They don’t know how to value it. It has long been argued that it ought to be in the national accounts as part of gross domestic product. One 2019 study estimated Facebook alone is worth US$40 to US$50 per month for consumers in the United States. But that’s… Read more »
Australia has joined other countries in announcing a ban on the use of TikTok on government devices, with some states and territories following suit. The rationale was based on security fears and, in particular, the risk the platform will be used for foreign interference operations by China. TikTok is a video-sharing platform operated by ByteDance,… Read more »
New NSW Labor premier Chris Minns has deleted his TikTok account as the state follows in the footsteps of federal Labor in banning the Chinese-owned social media app on government-issued devices. Minns said the decision follows advice from the Commonwealth. On Tuesday federal Attorney-General Mark Dreyfus issued a directive to remove the TikTok app from… Read more »
By now, most of us are aware social media companies collect vast amounts of our information. By doing this, they can target us with ads and monetise our attention. The latest chapter in the data-privacy debate concerns one of the world’s most popular apps among young people – TikTok. Yet anecdotally it seems the potential… Read more »
When English statesman Sir Francis Bacon famously said “knowledge is power”, he could hardly have foreseen the rise of ubiquitous social media some 500 years later. Yet social media platforms are some of the world’s most powerful businesses – not least because they can collect massive amounts of user data, and use algorithms to turn… Read more »
You may have read recently that TikTok allegedly “serves up” sex and drug videos to minors. Media reports have described the video-sharing platform, which is designed predominantly for young people, as an “addiction machine” that promotes harmful content. In an investigation, reporters at the Wall Street Journal created 31 bot accounts on TikTok, each programmed… Read more »
The massive digital platform market has until recently been dominated by a handful of US-based companies such as Facebook and Google. However, as foreign governments and competing platforms try to erode this domination, platforms are becoming a new sphere of geopolitical manoeuvring. The European Union wants to gain more control over international tech companies and… Read more »
A disturbing video purporting to show a suicide is reportedly doing the rounds on the popular short video app TikTok, reigniting debate about what social media platforms are doing to limit circulation of troubling material. According to media reports, the video first showed up on Facebook in late August but has been re-uploaded and shared… Read more »
In what seems to be a common occurrence, Chinese video-sharing app TikTok is once again in the headlines. After months of speculation about national security risks and users’ data being harvested by the Chinese Communist Party, US President Donald Trump has announced plans to ban TikTok in the United States any day now. In response,… Read more »
US software giant Microsoft is pushing ahead with plans to buy the US arm of social media site TikTok despite threats from US President Donald Trump to ban the Chinese-owned site. If the deal proceeds, the Australian, New Zealand and Canadian operations would be included in the sale to Microsoft, the company said in a… Read more »
TikTok, the made-in-China, video-sharing platform beloved by youth and influencers alike, is suddenly everywhere in our new world of COVID-19 lockdowns and social distancing. The platform’s growth has been tremendous, but this has come at a cost: it has come under increasing scrutiny from politicians in the US and allies like Australia over concerns about… Read more »
In an age of isolation, video sharing platform TikTok has emerged as a bonding force for many. But recent headlines allege the service, owned by Beijing-based company ByteDance, is feeding users’ data to the Chinese Communist Party. Earlier this week, the Herald Sun reported that an unnamed federal MP was pushing for the app to… Read more »
It’s tech Tuesday and lots is happening folks. Don’t forget to tune into the Startup Daily show on the business TV streaming channel ausbiz.com.au every weekday, 2-3pm, where we talk to startup founders, investors and innovators about everything tech. If you’ve missed an episode, you can catch up on the ausbiz site here. 1. … Read more »
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