๐ US/EU Tech Crackdown, TikTok Shapes Youth Finance, Dorsey Exits Bluesky
Good Morning! Start your week informed with our roundup of the latest developments in technology and AI.
Todayโs pick
With dueling approaches, the US and EU hit the tech giants hard.ย
How TikTok Is Wiring Gen Z's Money Brain.ย
Bluesky confirms Jack Dorsey is no longer on its board.
Biden administration plans $285M in CHIPS Act funding for digital twins.
China Big Tech: why many overworked employees are quitting to become entrepreneurs amid internet slowdown.
Letโs dive in
With dueling approaches, the US and EU hit the tech giants hard.ย
By Edith Hancock via POLITICO
The U.S. and EU are intensifying legal actions against tech giants like Google, Apple, and Meta, leveraging antitrust laws to challenge their market dominance.
EU's Digital Markets Act and U.S. federal lawsuits represent divergent approaches to regulating tech, with Europe using new laws and the U.S. employing existing antitrust legislation.
These regulatory efforts are prompting tech companies to modify their operations, amidst concerns that different international laws may complicate compliance and affect service quality.
๐: In this story, a former bureaucrat says that collusion between U.S. and EU bureaucrats to undermine American companies is a โone-way ratchet.โ I doubt it. @SpeakerJohnson recently blasted the collusion, which is under numerous Congressional probes, as โagainst our interestsโ - Tom Hebert (@TomHebertDC)
How TikTok Is Wiring Gen Z's Money Brain.ย
By Julie Jargon via Wall Street Journal
TikTok significantly influences the financial behaviors of Americans under 30, affecting how they save, spend, and perceive their financial futures.
Young adults, including 27-year-old Caitlyn Sprinkle, receive mixed messages on TikTok, combining economic caution with consumerism.
TikTok content includes financial advice against debt, epitomized by Dave Ramsey's warnings, juxtaposed with influencers promoting lavish spending.
๐: Young adults have a gloomy outlook on the economy and their financial future. TikTok is influencing their views on money. @itstheannmarie and I explore the case of Gen Z money dysmorphia - Julie Jargon (@juliejargon)
The best way to reach new readers is through word of mouth. If you click THIS LINK in your inbox, itโll create an easy-to-send pre-written email you can just fire off to some friends.
Bluesky confirms Jack Dorsey is no longer on its board.
By Wes Davis via The Verge
Jack Dorsey has confirmed his departure from the board of Bluesky, the decentralized social platform he helped found.
Bluesky is actively searching for a new board member who aligns with their vision of empowering user control over their social media experience.
Dorsey's departure was not explained, and he remains less involved in Bluesky, focusing on other interests and reducing his social media presence.
๐: People are kinda going crazy on Bsky after they announced this (on their official account) Iโm sorry I didnโt mean any harm, I was just curious after noticing he deleted his account last year. Hope you all understand - Jack (@jglypt)
Biden administration plans $285M in CHIPS Act funding for digital twins.
By Anthony Ha via TechCrunchย
The Biden administration is allocating $285 million from the CHIPS Act to fund advancements in digital twin technology for semiconductor manufacturing.
Digital twins are virtual models designed to enhance the efficiency and effectiveness of physical systems, notably in sectors like auto manufacturing.
This funding initiative includes support for research, development, and training, and will help establish the new CHIPS Manufacturing USA Institute.
By Coco Feng via South China Morning Post
Many employees from China's Big Tech companies are resigning to start their own ventures, capitalizing on skills learned in high-pressure tech environments.
Former ByteDance employee Du founded Ziranliu, a company that assists web influencers in monetizing their online presence, achieving significant revenue and client success.
The trend of leaving corporate jobs for self-employment is driven by desires for a more balanced life and autonomy over work, despite the challenging initial transition to entrepreneurship.
Trending in AI
YouTube's AI-powered 'Jump Ahead' feature rolling out widely to Premium users
Hugging Face launches LeRobot open source robotics code library
Thanks for reading to the bottom and soaking in our Newslit Daily fueled with highlights for your morning.
I hope you found it interesting and, needless to say, if you have any questions or feedback let me know by hitting reply.
Take care and see you tomorrow!
P.S. Want to advertise with us? Weโd love to hear from you.