🎵The Bulletin #50: House Passes Bill That Could Ban TikTok, Boeing's Safety Issues, and Are We Done With Dating Apps?
In this week's bulletin- Everything you need to know about the latest TikTok bill passed by the House, Boeing's concerning safety issues, and a look at the trends surrounding dating apps
Hey there! Welcome back to another bulletin ❣️ In this week’s issue, we’re sharing everything you need to know about the latest bill about TikTok, Boeing’s series of aircraft incidents, and the state of dating apps. Enjoy the sun, and happy reading! ☀️
🙅♀️House Passes Bill That Could Ban TikTok
The U.S. House of Representatives recently passed a bill targeting TikTok, the popular social media app owned by ByteDance, a Chinese internet company. This move is part of an ongoing technological rivalry between the U.S. and China, and has also been presented as a matter of US national security. The bill, if passed into law, could result in ByteDance being forced to sell TikTok due to concerns regarding the potential misuse of American users' data and disinformation campaigns. We have summarized the key points surrounding this issue below:
National Security Risks: Officials, including FBI Director Christopher Wray, have expressed concerns over TikTok's Chinese ownership, fearing that ByteDance could be compelled by Chinese law to share American user data with Beijing.
Bipartisan Support: The bill received strong bipartisan support, with a 352 to 65 vote in the House. It was introduced by Representatives Mike Gallagher (R-WI) and Raja Krishnamoorthi (D-IL).
Senate Hurdle: The bill now faces uncertainty in the Senate, with no commitment yet from Senate Majority Leader Chuck Schumer to bring it to a vote.
TikTok's Response: TikTok has refuted the allegations, emphasizing its significant U.S. investor base and efforts to secure American user data through partnerships with American firms like Oracle.
Potential Sale Challenges: The sale of TikTok is complicated by its high valuation, antitrust concerns regarding potential buyers, and possible opposition from the Chinese government.
Impact on Users: If enacted, the law would lead to civil penalties for app stores distributing or updating TikTok. This could affect the app’s functionality and accessibility for users in the U.S.
Opposition and Alternatives: Former President Donald Trump has unexpectedly opposed the bill. Free speech groups have also expressed concerns. ByteDance may explore other options like an initial public offering or a partial sale.
The House's decision marks a significant step in the ongoing tensions between the U.S. and China over technological dominance. The outcome of this bill could have far-reaching implications for TikTok, its users, and the broader tech industry. Nevertheless, the bill faces a uphill battle in the Senate, where it appears that Majority Leader Schumer is in no rush to bring it to a vote. We will be following this saga with interest and anticipation. Read more here.📱
✈️Boeing’s Slew of Safety Issues
Boeing continues to grapple with a string of challenges, as recent revelations add to concerns about the company's safety practices and corporate culture. Last Monday, a 787 flying from Sydney to Auckland experienced a midflight incident causing injuries, while a recent Federal Aviation Administration (FAA) investigation into 737 Max production revealed numerous failures in product audits. These incidents have heightened scrutiny of Boeing's commitment to safety, especially in light of previous controversies involving flawed flight control software in the 737 Max, which led to substantial settlements and accusations of prioritizing profits over passenger safety.
Whistleblowers have highlighted safety concerns, reflecting a corporate culture that may undervalue employee well-being and aircraft safety. Reports indicate a "disconnect" between senior management and regular staff, with workers expressing reluctance to report problems for fear of retaliation.
The crisis at Boeing has not only affected the company itself but has also had repercussions for airlines, leading to delays in aircraft deliveries and capacity cuts. While some carriers may consider alternatives such as Airbus models, the demand for new aircraft remains high across the industry. Despite these challenges, experts believe Boeing is capable of overcoming its current problems, emphasizing the importance of honesty and transparency in addressing issues and rebuilding trust. The road ahead for Boeing is clear. The company must overhaul its ethos, return to its historical emphasis on innovation and safety, and regain confidence from regulators, airlines, and the public.👩✈️
💝Are We Swiping Left on Dating Apps?
As an article on CNN recently covered, interest in Tinder, the app behemoth that leads the dating market, is shrinking. Nevertheless, data suggests that the era of online dating is here to stay.
According to a Pew Center report, 46% of online daters say that they have downloaded Tinder, but annual downloads of the app are down more than a third from the app’s 2014 peak. Match Group, the company that owns Tinder, reported in its most recent earnings report that paying users fell by 8% last year to just below 10 million.
Regardless of Tinder’s fortunes, dating apps have become ubiquitous in modern American life. The oldest cohort of Gen Z users of such apps, have shown that they act in similar ways to the Millennials who came before them. Clearly, times have changed, and modern love will never be the same. Here are some insightful graphs, taken from the CNN article, that give a comprehensive snapshot of the online dating scene over the years:
Downloads have fallen slightly, but are general steady
Tinder— Dethroned?
More people are seeking serious relationships
People are dating their friends
🚀Opportunities: Join us at Startup Connect 2024 this evening!
Looking for a job at a startup? Want to learn from successful founders of venture-backed startups? Come listen to founder lightning talks and meet Brown alumni-founded companies that are hiring on Monday, March 18th, from 6–8 PM EST. RSVP to get your invite, its not too late!
This year, our event schedule is the following:
6:00–6:15 PM: Introductions
6:15–7:00 PM: Lightning Talks—short, 15-minute chats—with some of Brown’s most celebrated founders and operators:
Aliisa Rosenthal, Head of Sales @ OpenAI
Andy Beck, Co-Founder & CEO @ PathAI
Dave Margulius, Co-Founder @ Quizlet
7:00–8:00 PM: Startup Fair where students can drop into breakout rooms for one-on-one chats with up-and-coming founders. Company booths include PeduL, Formally, Fourthwall, Dymaxion, and more.
The event will be hosted on Zoom. Brought to you by Contrary and Van Wickle Ventures. Looking forward to seeing you there! 🚀
That’s it for this week, feel free to email me at zyn_yee_ang@brown.edu with any inquiries!
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