Singapore army reservist and ex-Goldman banker says misconceptions about Chinese-owned app need to be clarified.
Many members have threatened to ban TikTok, saying its Chinese ownership poses a [national-security threat](https://www.wsj.com/articles/tiktok-reassures-advertisers-over-ban-threat-as-some-set-backup-plans-8c67e7db?mod=article_inline). [30% off eBay coupon](https://www.wsj.com/coupons/ebay) His background might now help him connect with a
US lawmakers are set to grill TikTok's chief executive on Thursday, in a wide-ranging hearing that could not come at a more consequential moment for the ...
His written testimony also outlines TikTok’s moves to keep users safe with content moderation, highlighting that the company spent $1 billion in 2021 on trust and safety and reflecting TikTok’s largest US labor expense. TikTok was the top downloaded app in the United States in 2021 and 2022, according to data from analytics firm Sensor Tower. His overarching message: TikTok has become essential to American culture, and to the creators and small business owners who now rely on the app for their livelihoods. TikTok flew out some of the creators, the company confirmed to CNN. Chew, who is from Singapore, will testify on “TikTok’s consumer privacy and data security practices, the platforms’ impact on kids, and its relationship with the Chinese Communist Party,” according to a statement last week from committee. [perceived national security](http://www.cnn.com/2023/03/21/tech/tiktok-national-security-concerns/index.html) concerns because of its ties to China through its parent company, ByteDance.
TikTok is owned by the Chinese internet giant ByteDance, which has prompted concerns that the app could share sensitive data from American users with the ...
Mr. During business school, Mr. Chew has been on a global charm offensive](https://www.nytimes.com/2023/01/26/technology/tiktok-bytedance-data-security.html) to try to convince governments that TikTok protects the privacy of users and is not influenced by China’s communist leaders. Chew was asked to bring financial discipline to the company and to map out a path to profitability. He studied economics at the University College London. And he has emphasized that he lives in Singapore with his wife and two children.
Both Republicans and Democrats expressed deep skepticism that the company won't share U.S. user data with the Chinese government while questioning Chew.
Lawmakers went on to reprimand the CEO over the safety of children, misinformation and targeted advertising. "You have repeatedly used the word transparency throughout this hearing," Palmer said. Chew admitted on Thursday that until Project Texas is complete, Beijing-based employees of TikTok would still be able to access U.S. They also said the app promotes misinformation like antivaccine advice and voter suppression campaigns. But, under the restructuring, the digital firewall would prevent Chinese employees from having access to Americans' personal information. The Biden administration told TikTok earlier this month that if its Chinese owners didn't sell their stakes in the app to a U.S. During the hearing, Chew was grilled about whether the app shares data with the Chinese government. Chew said TikTok does not promote or remove content at the request of Chinese authorities. They fear China's authoritarian regime could use the app to spy on, or blackmail, the millions of Americans who use it every day. TikTok offered an alternative it's currently working on, called "Project Texas." In this scenario, the Chinese government couldn't access the data and it would be overseen by Oracle. journalists who were reporting on company leaks — an incident now being investigated by Justice Department, [according to Forbes](https://www.forbes.com/sites/emilybaker-white/2023/03/16/fbi-doj-investigating-bytedance-tiktok-surveillance-journalists/).
Markets. Markets; Indices; Currencies; Energy; Metals. Indices. S&P/TSX. -122.14. 19,532.78 · Dow Jones. -530.49. 32,030.11 · S&P 500. -65.90. 3,936.97.
TikTok is is incorporated in California and Delaware, and is subject to US laws and regulations governing privacy and data security,” the company said. “I can tell you I found him completely unconvincing on the stuff that I cared about.” Chew, as he has before, will insist that ByteDance is “not an agent of China,” according to his prepared remarks. “I welcome the opportunity to discuss not only our commitments, but also tangible evidence from TikTok’s efforts to become a leader in safety and security.” Count McMorris Rodgers among the skeptics. TikTok isn’t the only Chinese technology of concern in US government circles.
TikTok executive seeks to push back on legislators' claims that the Chinese-based app poses a national security threat.
“You’ve actually done something that in the last three to four years has not happened except for the exception of maybe Vladimir Putin. “If you use our app, you can go on it expressing content on that topic and many others.” You have unified Republicans and Democrats” Chew responded that TikTok employs 40,000 moderators to track harmful content, as well as an algorithm to flag controversial material. “We do work very hard.” For his part, Chew sought to portray the app, which has 150 million monthly users in the US, as “a place where people can be creative and curious”. Legislators also turned to broader social media issues, questioning TikTok’s ability to moderate misinformation, harmful messaging and content that is not age appropriate. “We stand for freedom and transparency, and we don’t want your project.” She noted the post had been on the app since February 10. Chew dismissed allegations that TikTok posed a national security threat. [#TikTok]’s Beijing Communist-based ownership and its popularity exacerbates its dangers to our country and our privacy. “Please rename your project.
The TikTok CEO, a former Goldman Sachs banker and Harvard grad, is on the hot seat as lawmakers consider banning the app.
Chew told the House panel that TikTok is building "what amounts to a firewall that seals off protected U.S. data and potential manipulation of the TikTok U.S. "Only vetted personnel operating in a new company, called TikTok U.S. user data from unauthorized foreign access," including the establishment of a new corporate entity to oversee the handling of U.S. National security experts have warned that TikTok, which has 150 million American users, could be used to spy on Americans or as a propaganda tool by the Chinese government. He was considered a good fit for TikTok because of his background in investment banking and his time at Facebook and DST Global, said Dan Ives, managing director at Wedbush Securities. Most Americans likely first heard of Chew when he released a video this week speaking directly to TikTok's U.S. ByteDance said in a statement that it "strongly condemned" the actions of those involved and they were no longer employed by the company. ecosystem." However, TikTok's status as a Chinese-owned company makes some national-security experts nervous. Chew reports to ByteDance CEO Liang Rubo. Chew, born in January 1983 in Singapore, completed mandatory military service for the Singaporean government as a teenager.
TikTok CEO Shou Zi Chew testified Thursday at a congressional hearing over concerns about user data collected by the popular video-sharing app and potential ...
Chew’s decision to emphasize TikTok’s reach in the U.S. After earning his MBA, he became a partner at venture capital firm DST Global, where he worked for five years and helped facilitate investment in the company that became ByteDance. Most Americans likely first heard of Chew when he released a video this week speaking directly to TikTok’s U.S. He graduated in 2006 from University College London and worked for two years at Goldman Sachs before moving to the U.S. Chew attempted to persuade lawmakers not to pursue a ban on the app or force Chinese parent company ByteDance to give up its ownership stake, testifying that TikTok prioritizes the safety of young users. He says the company plans to store all U.S.
Tiktok CEO Shou Chew is expected to testify before Congress on Thursday as lawmakers scrutinize its China ties and its potential national security risks, ...
Plus, we dive into what we actually know about the privacy concerns surrounding TikTok and if a nationwide ban is possible. The special will look at the national security concerns for TikTok as well as the popular app's impacts on younger users — and the efforts of lawmakers and schools to address these issues. In February, college student and founder of the Log Off Movement, Emma Lembke, testified in front of a Senate committee about the impact that social media companies have on youth mental health. Such a law would govern all businesses' handling of American data in the United States, covering not just TikTok but also other social media companies, data brokers and more. and TikTok, and why cybersecurity needs to be a collaborative effort. What you’re doing down in Texas is all well and good, but it is not enough to be convinced that our privacy is not at risk." “And that's one of the issues here again, these legislators should be thinking more broadly across the entire social media spectrum,” Swisher said. “It's very upsetting for a lot of us, because we rely on these spaces to talk about issues that really matter to us. “It will help a lot of other social media sites, primarily Facebook.” “And I think that it's a really great source for information that a lot of people turn to, and it's where we build a lot of community and gathering.” TikTok creator Hannah Williams told CNN that she built her business through the app, and now makes some $200,000 a year. "So we can't ignore it just because of concerns about alienating some teenagers on this app."
Lawmakers interrogated Shou Chew over the video app's ties to the Chinese government in a hearing that suggests the company's problems are far from over.
[expanding government insurance](https://www.nytimes.com/2023/03/23/business/dealbook/yellen-powell-bank-rules.html) to all U.S. (WSJ) (FT) (The Hollywood Reporter) (NYT) [is significantly higher](https://www.nytimes.com/2023/03/23/world/europe/ukraine-kherson-world-bank-rebuild.html) than the $349 billion the institution forecast in September. and South Korea (and under investigation in Singapore) for the $40 billion collapse of his stablecoin company last year, And Charles Schwab says it could survive even [if it lost most of its bank deposits](https://www.wsj.com/articles/charles-schwab-says-it-could-ride-out-a-deposit-flight-a8b2a626). [mockery](https://www.msn.com/en-us/news/politics/tiktokers-are-mocking-the-us-congressional-hearing-against-tiktok-derogatorily-calling-lawmakers-boomers-who-are-embarrassing-them-in-front-of-the-world/ar-AA190jHh) and disbelief at the lawmakers’ tech knowledge. Senators want the [former C.E.O.s of Silicon Valley Bank and Signature Bank](https://www.cnbc.com/2023/03/23/silicon-valley-bank-collapse-senators-urge-former-ceo-to-testify.html)to testify before Congress. (Investors had taken heart from reports that the Treasury Department [was studying just that](https://www.bloomberg.com/news/articles/2023-03-21/us-studies-ways-to-guarantee-all-bank-deposits-if-crisis-expands).) [five hours](https://www.nytimes.com/2023/03/23/technology/tiktok-hearing-congress-china.html) in Congress on Thursday about his company’s ties to China, and his testimony did little to suggest the video platform’s problems are over.