Beijing-based ByteDance, parent company of social video app TikTok, which was valued at $180 billion in December, indefinitely put plans on hold for a public offering. The company had been considering an IPO in the United States or Hong Kong but its founder and CEO Zhang Yiming changed his mind after meeting with China’s cyberspace and security regulators who reportedly told him to focus on data-security risks and other issues. Another reason for holding off is that the company did not have a chief financial officer at the time. Continue reading ByteDance Pauses its IPO After Meeting with Chinese Officials

Teenagers are now turning to TikTok influencers not just for fashion advice but to buy clothing worn by their idols. Several items, including a Lululemon skort, a Gap hoodie and Aerie leggings have gone viral, and retailers including Aeropostale and Abercrombie & Fitch are looking for ways to convert popular TikTok videos into sales. Influencers post #fashionhauls and #OOTD (outfit of the day) as well as #preppy and #closettour. One mother reported that, “my kids come to me all the time now showing me TikTok videos, pointing at them, saying, ‘I want to buy this’ or ‘I think this is cute for the fall’.” Continue reading Viral TikTok Videos Fuel Buying Sprees by Young Consumers

At the Cannes Film Festival’s XR program, VeeR co-founder Jingshu Chen delivered a keynote on monetization of virtual reality, in which she referred to Gartner’s well-known Hype Cycle for Emerging Technologies. She pointed out that Facebook’s 2014 acquisition of Oculus sparked the “peak of inflated expectations,” followed by a downhill path to the “trough of disillusionment” beginning in 2017, when headset sales slumped and some VR companies pulled back. Now, she said, we could be on the upward “slope of enlightenment.” Continue reading Cinematic and Narrative Virtual Reality Tech Moving Forward

Samsung debuted its TV Plus streaming service on the Internet, with the ability to cast videos to devices that support Google’s Chromecast to its mobile app. Previously, TV Plus was only available on Samsung’s smart TVs and smartphones. The web-based TV Plus apparently had a soft launch in May but had not yet been publicly announced by the company. With this expansion, TV Plus has become a rival to other free streaming services such as Pluto TV and Tubi. U.S. consumers will have access to about 140 streaming channels. Continue reading Samsung TV Plus Is Now Streaming Online After Soft Launch

Two major steps forward for large-scale quantum computing just took place. Physicists from the MIT-Harvard Center for Ultracold Atoms (CUA) and elsewhere mastered the programmable quantum simulator, which can operate with 256 quantum bits (“qubits”). The company ColdQuanta also successfully created a 100-qubit quantum processor by cooling atoms down to “near absolute zero” and then controlling them with lasers. Their system, said experts, compares with other quantum systems built by leading players in the field. Continue reading New Initiatives Signal Advancements in Quantum Computing

President Joe Biden signed an executive order with 72 proposals and actions for a “whole-of-government effort to promote competition in the American economy.” Among them, President Biden encourages the FCC to restore net neutrality rules undone by former President Donald Trump, to “consider limiting early termination fees and prevent Internet service providers from making deals with landlords that limit tenant choices,” and to revive the President Barack Obama era Broadband Nutrition Label and its better price transparency. Continue reading Biden Executive Order Promotes Net Neutrality, Competition

New York City just opened its Cyber Critical Services and Infrastructure (CCSI) Project, a real-time operational center to protect the metropolitan area against cyberattacks. Located in lower Manhattan, the center shares intelligence with 282 partners, including the New York Police Department (NYPD), Amazon, International Business Machines (IBM), the Federal Reserve Bank and several New York healthcare systems. The anti-cybercriminal effort started two years ago but has been entirely virtual until now. Continue reading New York Is First City to Open a Cyberattack Defense Center

Social media giant Facebook recently unveiled Bulletin, a near-clone of the newsletter platform Substack. Despite its complicated relationship with journalists, Facebook thinks it can succeed by offering them better terms; whereas Substack takes a 10 percent cut of writers’ revenue, Bulletin will take nothing — at least for now. Best-selling authors Malcolm Gladwell and Mitch Albom will be among the first Bulletin writers. Facebook chief executive Mark Zuckerberg said the goal is to “support millions of people doing creative work.” Continue reading Facebook Targets Substack with Newsletter Platform Bulletin

Starting next year, Comcast’s streaming service Peacock will begin to show movies from sister company Universal Pictures, sidestepping a long-time deal with HBO for initial TV rights. The 2022 movies — which will reach Peacock no more than four months after theatrical release — include the next “Jurassic World” and the new “Halloween” movies. In addition, Amazon has signed a multiyear deal with Universal to bring the studio’s movies to Prime Video and IMDb TV following their four-month runs on Peacock. Under the new deal, Universal movies will be available on Amazon for 10 months and then return to Peacock for another four months. Continue reading Universal Signs New Streaming Deals with Peacock, Amazon

Alphabet’s Google is being sued by a group of 36 states and the District of Columbia that claim the Big Tech company abuses its market dominance with the Google Play Store. Although it is the fourth such state or federal antitrust lawsuit filed against Google since October, this lawsuit, filed in the U.S. District Court for the Northern District of California, is the first to take aim directly at the tech giant’s app store. The other suits have focused on search and advertising. California, Utah, North Carolina, New York and Tennessee lead this suit. Continue reading Latest Multi-State Antitrust Lawsuit Targets Google Play Store

On October 8, Nintendo will debut a new $350 Switch, the first major hardware upgrade to the console originally introduced in 2017 for $299. Available in time for holiday season sales, the new Switch will feature a larger 7-inch OLED screen and 64GB of onboard storage, double the original, as well as improved audio and an adjustable stand and dock. What consumers will not find, however, is an upgrade to a 4K display, a highly anticipated feature that would match the console offerings from Microsoft and Sony. Continue reading Nintendo’s New Switch Features OLED Display, More Storage

ByteDance-owned TikTok revealed that over the coming weeks it would introduce the ability to share videos of up to three minutes on its platform. TikTok debuted with 15-second videos and later expanded to 60-second videos. TikTok product manager Drew Kirchhoff said the longer videos will give creators “the canvas to create new or expanded types of content … with the flexibility of a bit more space.” With 100 million monthly active users in the U.S., TikTok is now facing competition from Instagram Reels and Snapchat’s Spotlight in an evolving video landscape that could impact the streaming wars. Continue reading TikTok’s Three-Minute Videos Let Creators Expand, Monetize

Since Apple began requiring apps to get user permission to track them, Branch Metrics found that less than 33 percent of iOS users opted in. Ad prices aimed at iOS users have fallen and those aimed at Android users have risen, which the digital ad community warned Apple about. Now, ad buyers are deploying iOS ad spending in less targeted ways and the lack of user data also reduces the efficacy of Facebook’s ad-targeting tools. Apple only sells ads in a few of its apps and doesn’t take a cut of third-party iOS app revenue. Continue reading Less Than One-Third of iOS Users Opt In to Tracking by Apps

The Defense Department stated that the contract for the Joint Enterprise Defense Infrastructure (JEDI) project “no longer meets its needs,” canceling a highly contentious $10 billion cloud computing contract awarded to Microsoft. In January, the department warned Congress that it would do so if a federal court agreed to hear whether former President Trump used his influence to award the contract to Microsoft over its rival Amazon. Such a suit, it pointed out, would result in a lengthy court cost and unacceptable delays. Instead, the Pentagon announced a new cloud program. Continue reading Pentagon Cancels JEDI Contract, Reveals New Cloud Initiative

Amazon founder Jeff Bezos is stepping down as chief executive of the e-commerce and tech giant, elevating Andy Jassy, former head of the company’s web division, to the CEO position, making it one of the most high-profile executive swaps in years. But behind the scenes, more change has roiled the company with numerous executives departing in the last 18 months, many after working there for years. That’s unusual because many of Amazon’s top staffers started with the company in its earliest days, became wealthy via stock, and were considered loyal lifers. Continue reading Jeff Bezos Steps Down, Andy Jassy Is the New Amazon Boss