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- Camelot Newsletter
Camelot Newsletter
TikTok is on the Clock

Here it is in a nutshell folks: TikTok, the social media juggernaut, has been ordered to sell the 60% of the company that is owned by Chinese parent company Bytedance. Why? Because they have been caught doing nefarious things with the data they collect through the app and have all but said they will continue doing so.
Monthly TikTok use is about 150 million US users per month, spending about an hour a day on the app which amounts to an astronomical amount of user data collected every day. At the heart of this issue is the data, who owns it and how its used. TikTok has been caught on several occasions illegally obtaining and utilizing sensitive information procured through users of the app. TikTok even admitted to spying on reporters in an effort to track down their sources. This is just what they admitted to. Can you imagine what they didn’t admit to?
"Chinese cyber intrusions are the most prolific in the world. In crisis, PRC [China's] leaders believe that achieving information dominance will enable them to seize and keep the strategic initiative, disrupt our ability to mobilize, to project and sustain the joint force, and to ensure the PRC's desired end state."
The government already banned TikTok on government devices because of the extreme security risk. Even though apparently Ol Joe missed the memo and signed up for TikTok just before the Super Bowl in an effort to show he is young and hip.
As it stands, despite the click bait headlines sounding the alarm that the “US is banning TikTok,” this is in fact not the case. The government has called for the sale (or forced separation) of TikTok from parent company Bytedance who has a little over one half stake and controlling interest. Should Bytedance choose to forego the forced sale then a TikTok ban could happen. As it stands if you are a TikTok user, your data is stored in China and used for purposes beyond the scope of the US government awareness or law. Yikes. It’s important to note that it’s not just the usual Washington DC circus of chaos sounding the alarm here it is the actual United States Department of Defense. So me, I am inclined to listen closely.
Looks like we might have to find another way to watch videos of strangers pranking one another and gain insight into which trendy new shampoo to use. 🤷
Professor Scott Galloway’s blog No Mercy/No Malice is my go-to for market insights and pearls of wisdom.
In his latest post entitled Icebreaker he talks about how “The market is shaped by psychology, not financials. And the psychology around IPOs has been in trauma since retail investors were run over by a semitrailer whose mud flaps read SPAC and Rate Hike” …. read more
Musk has touted himself a “free speech absolutionist” …. unless he gets asked a question he doesn’t want to answer in which case he will refuse and then later send you a passive aggressive text telling you the interview is cancelled like he did with Don Lemon this week.
A long standing evil empire has begun to crumble. The National Association of Realtors has agreed to pay $418 million in damages to end antitrust lawsuits. This shines a much deserved spotlight on the current home buying and selling business model, in which sellers pay both their broker and a buyer’s broker, which critics say have driven housing prices artificially higher as well as created a financial conflict of interest. As a long time realtor I am glad this model is beginning to crumble. It was never an equitable system and I hope to see a meaningful change.
China’s cyber army is invading US services. Hackers affiliated with China’s People’s Liberation Army have burrowed into the computer systems of about two dozen critical entities over the past year, experts say.
Pence is not on the fence folks. Mike Pence has declared that he will not be endorsing Donald Trump. Shoot. I bet Don thought that one was a lock.
Turkeys and Angels
Every week brings new and exciting antics! Here I nominate one Turkey; a squawky or nefarious critter deserving of the “You are a Turkey” moniker. Because we must always bring balance to the force, an Angel will additionally be recognized for bringing laughter, love or all around goodness to the world.
This week’s Turkey: The supreme court banning drag queens. Because apparently assault rifles and school shootings are cool, but men in dresses just can’t be allowed.
This week’s Angel: Pamela Anderson’s nude…. face. Yes, that’s right. Pamela Anderson, at 56 years fabulous, makeup free and drop dead stunning on the Oscars red carpet. The confidence. The absolute unfettered beauty. What an icon. A breath of fresh air.
