🎥 Are TikTok's Days Numbered In The US?

Good morning. US stock futures dipped in Monday morning trading as investors look ahead to inflation data due out later this week.

🪙 US President says he’ll sign legislation banning TikTok in US 

📝 Our report: US President Joe Biden just gave a thumbs-up to legislation that could send TikTok packing from the U.S. The legislation that recently passed through the U.S. House Energy and Commerce Committee unanimously calls on China’s ByteDance to divest its ownership of TikTok — or effectively face a U.S. ban.  

 🔑 Key points:

• “If they pass it, I’ll sign it,” Biden said when asked by reporters about the legislation.

• Both the FBI and the Federal Communications Commission have warned that TikTok owner ByteDance could share user data — such as browsing history, location and biometric identifiers — with China’s authoritarian government.

• TikTok CEO Shou Zi Chew has denied in Senate hearings any ties between the app and the Chinese Communist Party (CCP). In a statement TikTok said, “The government is attempting to strip 170 million Americans of their Constitutional right to free expression,” an act that “will damage millions of businesses, deny artists an audience, and destroy the livelihoods of countless creators across the country.”

💡 So what: Banning TikTok in the US could have several implications, both for users and the broader digital landscape. Firstly, it would disrupt the lives of millions of TikTok creators and users who rely on the platform for entertainment, connection, and even income through influencer marketing. Additionally, banning TikTok could strain international relations, especially with China, potentially leading to retaliatory measures affecting American companies operating abroad. Ultimately, the implications of banning TikTok would extend beyond just the app itself, impacting various aspects of digital culture and international relations.

Monday - No Major Economic News

Tuesday - Consumer Price Index, Monthly US Federal Budget

Wednesday - No Major Economic News

Thursday - Initial Jobless Claims (wk end Mar 8)

Friday - No Major Economic News

 📈 Here are 10 investing tips from legend Howard Marks

💰 What does it mean to be “financially independent”?

💲 US Powerball keeps growing!

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💰 Reddit seeks big bucks in planned IPO

WHAT: Hold onto your upvotes, folks! Reddit and its merry band of investors are gearing up to make it rain with a whopping $748 million in their upcoming initial public offering. The social media platform and some of its current shareholders are reportedly planning a sale of 22 million shares for $31 to $34 each, according to people familiar with the IPO terms.

WHY: Reddit’s more than two-year slog to listing reflects the ups and downs of the market, beginning with its initial confidential filing in 2021, when IPOs on US exchanges set an an all-time record of $339 billion, according to data compiled by Bloomberg. Reddit raised funds that year valuing it at $10 billion, and Bloomberg News reported the following year that it could be valued at as much as $15 billion in an IPO.

🥤 WWE, social media influencers ink brand partnership deal

WHAT: Get ready to rumble with a twist of Prime flair! WWE just sealed the deal with Prime, the beverage brainchild of YouTube sensations Logan Paul and KSI. Their logo's about to take center stage right in the heart of the WWE wrestling ring mat. Also, as part of the deal, Prime Hydration will become the exclusive official hydration drink partner of the WWE.

WHY: The agreement further strengthens Paul's and KSI’s relationship with TKO Group Holdings, the parent company of WWE. In January 2023, UFC, which is also part of TKO, announced that it struck a multiyear global marketing partnership with Prime, making it the official sports drink of the mixed martial arts organization.

📹 Musk: X bringing long form vids to smart TVs

WHAT: Get ready to watch those long-form videos without cramping your style! X head honcho Elon Musk just spilled the beans that soon you'll be able to kick back and enjoy those epic videos right from your smart TV. Fortune magazine reported that X planned to launch a TV app for Amazon and Samsung users as soon as next week.

WHY: In the push to become a "video-first platform", X has been forging partnerships with the likes of former Fox commentator Tucker Carlson and former CNN anchor Don Lemon. The platform, which has struggled to retain advertisers amid controversies ever since Musk bought it in 2022, said last month it would enable advertisers to run video ads next to certain content creators.

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