🗿 No TikTok, No Problem

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GM. Warren Buffet is comparing AI to nukes, TikTok isn’t as relevant as you think, and memecoins aren’t dead yet. 

Without Further Ado. ☕ *knuckle cracks* ☕ Let’s get into it.

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Why You Shouldn’t Care About the TikTok Drama

As someone who (somewhat) depends on social media for income, I don’t think it matters whether TikTok gets banned or not.

A little background on the TikTok ban and why you shouldn’t care:

A recently enacted US law, included in a broader package that also provides support to Ukraine, mandates that TikTok's parent company, ByteDance, must either sell TikTok to an American company by early 2025 or face removal from app stores and internet providers.

The language of the law hints at the possibility of extending this ban, particularly concerning applications managed by entities deemed "foreign adversaries."

TikTok has invested heavily in measures to alleviate these concerns. One such measure is Project Texas, a $1.5 billion plan aimed at storing American users' data within the United States.

Despite the heavy hand from Washington, there is serious political apprehension – does Beijing really have control over the app's content management? Probably not. But it could.

Government overreach and paranoid reactionary politics aside, a TikTok ban would have a serious impact on thousands of small businesses and creators that depend on big tech.

Google, for example, can feel like a corporate juggernaut, but it is a critically important software tool for millions of restaurant owners, barbers, laundromats, etc. who depend on apps like Maps to acquire new customers.

So why don’t I care if TikTok gets banned?

Because if TikTok magically disappeared tonight, something would naturally fill the void. Technology has never been easier to build.

Most of the modern problems plaguing tech companies revolve around finding new customers and good branding/marketing/storytelling rather than broken products.

In fact, it’s never been cheaper to develop great products.

The market clearly needs and values a short-form video app like TikTok. Without it, within a few months we’d have something very similar. Or people would change their consumer habits and move to Instagram or Youtube to get their fix. Businesses would have to adapt to this.

If anything, the existential risk of a TikTok-free world is an alarm about the Western world's overdependence on foreign third-party platforms for private enterprise than it is a reflection of an interventionist regulatory climate.

If TikTok can’t comply with US laws, it will cease to exist. If they can prove in court that they aren’t a security threat and can retain themselves as legally compliant, they will remain. It's not really any deeper than that.

And if you're a creator or business owner feeling threatened by the existence (or lack thereof) of TikTok, you should reconsider how to diversify your business.

Finally, to consumers worried about the loss of entertainment value. There are infinite ways to entertain yourself in 2024. You'll live.

If TikTok disappears, something will naturally fill the void. Technology has never been easier to build. Most of the modern problems plaguing tech companies revolve around finding new customers and good branding/marketing/storytelling.

It’s never been cheaper to develop great products.

The market clearly needs and values a short-form video app like TikTok. If it disappeared tomorrow, within a few months we’d have something very similar. Or people would change their consumer habits and move to Instagram or Youtube to get their fix. Businesses would have to adapt to this.

No Fomo News 📰

AI

• Warren Buffett compares AI to nuclear weapons in stark warning (CNN)

• SoftBank leads $1bn funding for UK artificial intelligence group Wayve (FT)

Web3

• Exodus Approved for NYSE Listing, Trading Begins on May 9 (Cryptonews)

• Revolut's Crypto Exchange Goes Live for Experienced Traders (CoinDesk)

Tech

• Jack Dorsey leaves board of decentralized social network Bluesky (CT)

• Switch 2 will be revealed before April 2025, promises Nintendo (TheVerge)

AI App of the Week 💻

AI gets a lot of hype. But how does that help me?

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We’ll try to fish for things that make your life easier. Or we’ll give honest, informative reviews of apps capturing Internet attention.

This Week’s App De Jour: Pressmaster

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DISCLAIMER: None of this is financial advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell assets or make financial decisions. Please be careful and do your own research.