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TikTok Faces Uncertain Future in the U.S.

TikTok's future in the U.S. hangs in the balance after President Joe Biden signed a bill demanding ByteDance
April 29, 2024

The fate of TikTok in the United States appears uncertain following President Joe Biden's signing of a bill. The legislation includes a deadline for ByteDance, TikTok’s parent company, to divest itself of TikTok within nine months. Failure to comply could result in a ban on distributing the app in the U.S. Ivan delves into how the repercussions of TikTok bans in other countries might foreshadow what’s to come stateside.

In other news this week: 

Change Healthcare Data Breach Fallout: Change Healthcare, a subsidiary of health insurance giant UnitedHealth, confirmed a significant data breach earlier this year resulting in the theft of Americans’ private health information.

Tesla Profits Plummet: Tesla saw a 55% drop in profits as the electric vehicle (EV) company faces heightened pressure from hybrid car manufacturers. Despite this setback, Tesla's growth strategy revolves around launching more affordable EVs next year and possibly introducing a robotaxi. However, a recall on the Cybertruck due to faulty accelerator pedals poses a challenge in the interim.

Read on for more highlights in this week’s edition of WiR, and don’t forget to sign up for our newsletter to receive the latest tech news every Saturday.

Amazon’s New Grocery Plan: Amazon introduced an unlimited grocery delivery subscription in the U.S. priced at $9.99 per month for Amazon Prime users. The subscription offers free deliveries for grocery orders exceeding $35 from Amazon Fresh, Whole Foods Market, and other local grocery retailers.

California Drone Operations Ceased: Amazon announced the cessation of its Prime Air drone delivery operations in Lockeford, California, without disclosing specific reasons for the decision.

Fisker Announces Layoffs: EV startup Fisker is planning further layoffs as it struggles to raise capital. If the company fails to secure funds within the next 30 days, it may consider seeking bankruptcy protection.

Stripe’s Expansion Plans: Stripe revealed plans to separate payments from its other financial services, a significant change from its previous business model.

R1: AI Startup's First Product: Brian provides a hands-on review of the R1, the inaugural product from AI startup R1, highlighting its accessibility with a $199 price point, touchscreen interface, and unique design by Teenage Engineering.

Lab-grown Diamonds: Pascal discusses a startup backed by Andreessen Horowitz, which claims to produce lab-grown diamonds that are virtually identical to natural diamonds but are significantly more affordable.

AI Poetry: An experiment called the Poetry Camera, combining open-source technology with innovative design, generates thought-provoking AI-generated poetry based on captured visuals.

Rippling's Funding Round: Connie interviews Parker Conrad, CEO of workforce management startup Rippling, about the company’s recent $200 million funding round and its plans for expansion.

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