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ByteDance execs believe China will not allow TikTok sale

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Top stories today:

  1. ByteDance execs believe China will not allow TikTok sale
  2. SpaceX’s Startship rocket completes most of 3rd test flight
  3. PPI accelerates to 0.6% MoM / 1.6% YoY, above expected
  4. Bitcoin retreats to $67K, from record high of $73K
  5. Adobe’s revenue +11% to $5.18B in quarter, stock -12%

0. Data and calendar

All values as of 6 AM ET / 3 AM PT, other than S&P500 and NASDAQ close (4 PM ET / 1 PM PT).

All times are ET.

1. ByteDance execs believe China will not allow TikTok sale

ByteDance is in theory a Cayman company, but most of its executives and revenue (from Douyin) are in China:

  • Reports coming after Beijing protested that the U.S. should “stop unreasonably suppressing” TikTok.

  • Last year, Beijing said a sale would have to be approved by the government since it would involve exporting technology.

  • Meanwhile, China bans most of the U.S. Big Tech platforms: Google, Meta, etc.

2. SpaceX’s Startship rocket completes most of 3rd test flight, but explodes during descent

Elon continues to promote the idea that Starship will make humanity multi-planetary

* Sponsored.

4. PPI accelerates to 0.6% MoM / 1.6% YoY, above expected, pressuring Fed not to cut

Read more: Bloomberg.

5. Bitcoin retreats to $67K, from record high of $73K

6. Adobe’s revenue +11% to $5.18B in quarter, stock -12% due to lower guidance

7. Most AI models, except Google’s and GitHub’s, are vulnerable to encryption-breaking

8. Current high schoolers most pessimistic generation since 90s

9. Interesting videos, posts, and memes

10. Other headlines


  • Apple buys DarwinAI, adding employees to AI division.

  • Copilot Pro launches worldwide with 1-mo free trial.

  • Global AI regulations pushed by U.S. at UN.

  • Oil drilling boosted by AI.

  • HubSpot: download the guide on how to use AI for better results, for free.*

  • RAD AI: AI marketing leader, 3X growth, trusted by Hasbro & MGM. Invest in AI today!*

* Sponsored. Disclaimer: This is a paid advertisement for RAD AI’s Regulation CF offering. Please read the offering circular at invest.radintel.ai.


  • Spotify: iPhone app updates in EU getting held up by Apple.

  • Reddit launches new ad format that looks like posts.

  • Google I/O 2024 scheduled for May 14, 15.

  • Chrome gets real-time URL phishing protection.

  • Refund fraud schemes affecting Amazon, others: a look at.

  • Incogni: keep your SSN off the dark web.*

  • citizenM has 14 tech-ready hotels stateside for the best night's sleep of your life.*


Tech & law

  • Samsung poised to win $6B from CHIPS Act.

  • Beijing urges EV makers to buy local chips.

  • PornHub goes down in TX over age-verification law.

  • 100Mbps download/20Mbps upload new definition of broadband: FCC.


  • NASH drug from Madrigal sees 1st FDA approval for disease.

  • CAR-T from Bristol gets FDA approval for some blood cancers.

  • Zephyr AI, backed by Lilly, raises $111M for precision medicine tech.

  • Pi Health, AI for cancer trials, raises $30M.


  • Craig Wright not Satoshi Nakamoto, UK judge rules.

  • El Salvador has $0.4B in BTC, more than previously known.

  • Uniswap: making it easier to buy, sell and trade tokens on Ethereum.*


U.S. politics

  • CIA covert campaign on Chinese social media launched by Trump in 2019.

  • Trump docs case judge rejects dismissal effort, but doesn’t set trial date.

  • 32-hour workweek pushed by Bernie Sanders.

  • No Labels: candidates could be announced in Mar.


  • Putin expected to win elections this weekend.

  • Netanyahu: “ridiculous” Hamas’s calls for full withdrawal, 1K prisoner release.

  • Hamas calls for confrontations at Al Aqsa in Israel today.

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