14:25:08 EDT Wed 15 May 2024
Enter Symbol
or Name
USA
CA



Alphabet Inc CDRs (CAD Hedged)
Symbol GOOG
Shares Issued 15,250,000
Close 2024-04-26 C$ 29.17
Market Cap C$ 444,842,500
Recent Sedar Documents

Globe says a TikTok ban would serve Meta, rivals well

2024-04-29 08:14 ET - In the News

See In the News (C-META) Meta CDR (CAD Hedged)

The Globe and Mail reports in its Saturday edition that no matter what the outcome of the legislation passed by the Senate last week -- the sale of Chinese-owned TikTok to American buyers or an outright ban of its use -- the move exchanges one goblet of hemlock for another. The Globe's Gus Carlson writes that the legislation aims to eliminate the threat that TikTok might be exploited by the Chinese government. However, it could worsen the problem of having only a few domestic tech companies, known as the Magnificent Seven, possessing vast amounts of private data and influence. If the decision is to sell to U.S.-based buyers, it will likely go to a company such as Microsoft. Its influence has become so powerful and so ingrained in our lives, it is hard to control or fight because no one knows where to start. If TikTok is banned in the U.S., the biggest beneficiary will be Meta. Where else are TikTok's estimated one billion monthly active users going to go? Mr. Carlson says Meta is perhaps the most suspect when it comes to the ethical handling of personal information. Mr. Carlson says politically motivated moves against TikTok by U.S. lawmakers may have unintended consequences for users, making caution necessary.

© 2024 Canjex Publishing Ltd. All rights reserved.