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A group of TikTok creators said Tuesday they filed suit in US federal court seeking to block a law signed by President Biden that would force the divestiture of the short video app used by 170 million Americans or ban it, saying it has had “a profound effect on American life.”

The TikTok users suing include a Texas Marine Corps veteran who sells his ranch products, a Tennessee woman selling cookies and discussing parenting, a North Dakota college coach who makes sports commentary videos and a recent college graduate in North Carolina who advocates for the rights of sexual-assault survivors.

“Although they come from different places, professions, walks of life, and political persuasions, they are united in their view that TikTok provides them a unique and irreplaceable means to express themselves and form community,” said the lawsuit.

Davis Wright Tremaine LLP, a law firm representing the creators, provided a copy of the lawsuit to Reuters it said had been filed in the US Court of Appeals for the District of Columbia Circuit.

The White House declined comment. A Justice Department spokesperson said the TikTok law “addresses critical national security concerns in a manner that is consistent with the First Amendment and other constitutional limitations. We look forward to defending the legislation in court.”

The suit, which seeks injunctive relief, says the law threatens free speech and “promises to shutter a discrete medium of communication that has become part of American life.”

Last week, TikTok and its Chinese parent company ByteDance filed a similar lawsuit, arguing that the law violates the US Constitution on a number of grounds including running afoul of First Amendment free speech protections.

TikTok creators filed a similar suit in 2020 to block a prior attempt to block the app under then President Donald Trump, and also sued last year in Montana asking a court to block a state ban. In both instances, courts blocked the bans.

The law, signed by Biden on April 24, gives ByteDance until Jan. 19 to sell TikTok or face a ban. The White House has said it wants to see Chinese-based ownership ended on national security grounds but not a ban on TikTok.

The law prohibits app stores like Apple, and Alphabet’s Google, from offering TikTok and bars internet hosting services from supporting TikTok unless ByteDance divests TikTok.

The suit says to the extent the government may claim the law is needed to protect Americans data, “it has tried that strategy before and lost.” The suit says “the concerns are speculative, and even if they were not, they could be addressed with legislation much more narrowly tailored to any purported concern.”

The TikTok lawsuit said last week the divestiture “is simply not possible: not commercially, not technologically, not legally … There is no question: the Act (law) will force a shutdown of TikTok by January 19, 2025.”

Driven by worries among US lawmakers that China could access data on Americans or spy on them with the app, the measure was passed overwhelmingly in Congress just weeks after being introduced.

The four-year battle over TikTok is a significant front in the ongoing conflict over the internet and technology between the United States and China. In April, Apple said China had ordered it to remove Meta Platform’s WhatsApp and Threads from its App Store in China over Chinese national security concerns.

Biden could extend the Jan. 19 deadline by three months if he determines ByteDance is making progress.

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Sports

Cashman pins Yanks’ chances on playing ‘our best’

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Cashman pins Yanks' chances on playing 'our best'

Brian Cashman appreciates that World Series titles are expected from the New York Yankees, not just hoped for.

New York hasn’t even reached the World Series since its 27th championship in 2009, the second-longest drought in franchise history. The only longer one came in the Yankees’ first 18 years, from 1903 to 1920.

“We have a great shot, but we only have a great shot if we play our best baseball,” the general manager said Thursday ahead of an AL Division Series against Kansas City. “I know that we have the capabilities, but at the same time I caution that we’ve had capabilities many times before and you have to match those capabilities with, obviously, great defense, great baserunning, tremendous offensive at-bats against extremely tough pitching and, obviously, the most important aspect is pitching to the best of your abilities.”

After missing the playoffs last year for the first time since 2016, the Yankees rebounded following the December acquisition of Juan Soto from San Diego. They led the AL in runs with 815 after finishing 25th in 2023 and topped the major leagues in home runs with 237.

“I do honestly believe that anybody that’s currently in the tournament has a legitimate chance to raise that trophy,” Cashman said. “I think we have the pieces that are here and we have the will to make it happen, and now we just got to go up against an opponent that’s very worthy.”

Reigning AL Cy Young Award winner Gerrit Cole (8-5) starts Saturday night’s opener for New York after recovering from elbow nerve irritation and edema that sidelined him from spring training until June 19.

Michael Wacha (13-8) starts for Royals. He has held Yankees star Aaron Judge to 1 for 18 with three walks and no homers in his career.

“I’m chalking this up to small sample and I’ll take Aaron Judge against just about anyone on any day,” Yankees manager Aaron Boone said, “but we know Wacha is a tough customer. He’s always pitched us tough and we know we got our work cut out for us.”

New York beat Kansas City in the 1977 and ’78 AL Championship Series en route to World Series titles, and the Royals swept the Yankees in 1980 — leading George Steinbrenner to force out manager Dick Howser. The following summer, Howser took over as Royals manager and led Kansas City to its first World Series title in 1985.

New York won three of four at Kansas City in June, losing the series finale on Maikel Garcia‘s two-run double against Clay Holmes. The Yankees took two of three in the Bronx last month, losing the middle game when Seth Lugo and two relievers combined on a three-hit shutout for the Royals.

Kansas City swept Baltimore in a two-game Wild Card Series while the Yankees won the AL East and earned a first-round bye and a five-day layoff. The Royals are led by Bobby Witt Jr., likely to finish second to Judge in AL MVP voting, nine-time All-Star catcher Salvador Perez and a rotation that includes Wacha, Lugo and Game 2 starter Cole Ragans.

Reliever Lucas Erceg was acquired from Oakland at the July 30 trade deadline, and the 29-year-old right-hander had 11 saves in 13 chances for the Royals, striking out 31 and walking three in 25 innings. His fastball averages 98.6 mph.

“From early in the season ’til now, their bullpen has improved,” Boone said. “They’ve had a couple guys emerge down there and then obviously bringing in Erceg to anchor them has taken their bullpen to another level.”

Cashman said the Yankees are still deciding on their final roster moves heading into the ALDS, with right-hander Marcus Stroman’s status still up in the air.

“We haven’t made that final call yet,” he said. “Marcus threw in the sim [simulation] game yesterday, he threw two innings, so we’re trying to keep him with some volume and stretched out. I don’t expect him to be a starter in this series. As for what role we haven’t made that call yet.”

Yankees first baseman Anthony Rizzo remains doubtful for the Division Series after fracturing the fourth and fifth fingers of his right hand when he was hit by a pitch from Pittsburgh’s Ryan Borucki on Saturday.

“He’s full-bore treatment mode right now,” Cashman said, “A very tight window of healing to take place. … A lot less pain than you would expect and more strength to the squeeze than you would expect given what he’s gone through but he has not been doing baseball activity as of yet.”

Ben Rice and Oswaldo Cabrera are the primary alternatives at first.

DJ LeMahieu, who also plays first, has been sidelined since Sept. 3 because of a right hip impingement.

“He’s started to do things, Cashman said. “The time frame for him a little bit difficult.”

Information from The Associated Press was used in this report.

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Technology

Mark Zuckerberg is now world’s second-richest person, ahead of Jeff Bezos

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Mark Zuckerberg is now world's second-richest person, ahead of Jeff Bezos

At the Meta Connect developer conference, Mark Zuckerberg, head of the Facebook group Meta, shows the prototype of computer glasses that can display digital objects in transparent lenses.

Andrej Sokolow | Picture Alliance | Getty Images

Meta CEO Mark Zuckerberg has surpassed Jeff Bezos as the world’s second richest person.

Zuckerberg’s net worth reached $206.2 billion on Thursday, according to the Bloomberg Billionaires Index, topping the $205.1 billion net worth of the former Amazon CEO and president. The Facebook co-founder now trails Tesla chief Elon Musk by roughly $50 billion, the index showed.

With his 13% stake in Meta, Zuckerberg’s net-worth has risen by $78 billion since the beginning of the year, which is more than any member of the of the 500 richest people that the Bloomberg Index tracks. Meta shares closed at a record high on Thursday at $582.77, representing a roughly 68% jump from early January when its shares were trading at $346.29.

Zuckerberg’s rise to the second spot on the index on Thursday underscores how his personal wealth has grown alongside investor enthusiasm over the social media giant’s rising profits this year.

Wall Street has continuously cheered Meta throughout 2024 as the company has consistently reported quarterly earnings that have surpassed analyst estimates. In July, Meta said that its second-quarter sales grew 22% to $39.07 billion, marking the fourth straight quarter of revenue growth topping 20%.

Meta has pointed to its hefty artificial intelligence investments as helping improve the performance of its online advertising platform as a reason for its sales growth. The company’s online advertising system suffered a major setback in 2021 when Apple introduced an iOS privacy update that weakened its ability to track users across the web. Meta in February 2022 said that the privacy changes would cost it $10 billion in revenue.

In late 2022, Zuckerberg instituted a major cost-cutting plan that extended into the next year and ultimately resulted in 21,000 Meta workers losing their jobs, or roughly a quarter of the company’s workforce.

Investors reacted favorably to Meta’s cost cutting while the company’s online advertising business began to rebound and was bolstered by the massive digital ad spending campaigns by Chinese-linked retailers Temu and Shien.

While Meta has continued spending billions of dollars on the virtual and augmented reality technologies needed to underpin the futuristic concept of the metaverse, investors have become more tolerant of the investments as long as the company’s core ad business remains healthy.

Last week, Meta debuted its Orion AR glasses, which garnered positive reviews from the few people who have tested the prototype.

Watch: CNBC reviews Meta’s Orion AR glasses prototype

Meta's Orion AR glasses prototype: CNBC reviews

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Environment

Toyota invests a fresh $500M in Joby Aviation to support eVTOL air taxi certification, production

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Toyota invests a fresh 0M in Joby Aviation to support eVTOL air taxi certification, production

eVTOL air taxi developer Joby Aviation has secured a fresh round of funding from previous investor Toyota Motor Corporation, totaling $500 million. With its investment, Toyota’s total funding committed to the eVTOL specialist inches closer to $1 billion. The money will help Joby secure flight certification and begin commercial production of its sustainable aerial technology.

In terms of our coverage of electric vertical takeoff and landing (eVTOL) aircraft, Joby Aviation ($JOBY) has held a mainstay in the beat as it remains one of the more promising startups in a growing segment that is quickly becoming crowded.

Part of that previous coverage included Joby’s first flight with a pilot onboard in October 2023, which quickly led to a demonstration in New York City ahead of full-fledged eVTOL air taxi operations planned for sometime in 2025.

Since beginning as a small team of seven engineers back in 2009, Joby has grown to a staff of over 1,500 people who operate out of its headquarters in Marina, California, as well as additional offices in Santa Cruz, San Carlos, Washington, DC, and Munich, Germany.

Part of its success is early believers in its eVTOL technology, which has invested hundreds of millions in funding, including Toyota Motor Corporation. Since 2019, Toyota has been a strategic investor in Joby and its eVTOL technology. The Japanese OEM has even deployed dozens of its own engineers to work alongside Joby’s engineers to help the aviation company determine its eVTOL factory layout and manufacturing processes and prepare for high-volume production in the US.

Recently, Toyota nearly doubled its previous investments in Joby Aviation to help the company reach certification and scaled production of its eVTOL air taxis.

Toyota eVTOL
Toyota Motor Corporation Operating Officer Tetsuo “Ted” Ogawa and Joby Aviation’s Founder and CEO, JoeBen Bevirt / Source: Joby Aviation

Toyota’s investment in Joby eVTOLs reaches $894 million

Per a recent release from Joby Aviation, Toyota Motor has committed to a new investment of $500 million which will be divided into two equal portions. The first half of the payment is targeted to close before the end of 2024, with the second to follow sometime in 2025.

When completed, the $500 million financial commitment will bring Toyota Motor’s total investment in Joby up to $894 million and will consist of cash in exchange for common stock. Tetsuo “Ted” Ogawa (seen above), the operating officer who inked the agreement on behalf of Toyota Motor Corporation, spoke about the automaker’s faith in Joby’s eVTOL technology and its desire to help contribute to “a shared vision of air mobility.”

With this additional investment, we are excited to see Joby certify their aircraft and shift to commercial production. We share Joby’s view that sustainable flight will be central to alleviating today’s persistent mobility challenges.

Toyota’s funding will help Joby in its ongoing quest to achieve flight certification and commercial production of its proprietary electric air taxis. The second payment, in particular, will rely on the finalization of terms related to a strategic alliance between both companies focused on commercial eVTOL manufacturing and other conditions.

In terms of eVTOL commercialization, Joby headway and recently rolled its third aircraft off its pilot production line in Marina, California, before breaking ground on a new expanded facility in The Golden State that will more than double its current production footprint. As of August 2024, Joby had completed 1/3 of the fourth and fifth stages of the type certification process before full-scaled eVTOL production and commercial air taxi operations with Toyota could begin.

You can learn more about Toyota’s investment and Joby’s eVTOL technology in the video below:

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