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- TikTok ban bill passed in House by 352 × 65, but faces challenges in Senate
TikTok ban bill passed in House by 352 × 65, but faces challenges in Senate
Bay Area Times
March 14, 2024
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Top stories today:
- TikTok ban bill passed in House by 352 × 65, uncertain in Senate
- SpaceX to attempt 3rd Starship launch today at 8 AM ET+
- Figure AI showcases humanoid robot powered by OpenAI
- Grayscale’s Bitcoin ETF sees $11B of outflows
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. TikTok ban bill passed in House by 352 × 65, but faces challenges in Senate
No endorsement yet from Senate Majority Leader Chuck Schumer.
GOP senator Rand Paul is against the bill.
TikTok will continue to lobby the Senate, it said internally.
Billionaire investor Jeff Yass, who owns 7% of TikTok, has donated $46M to the GOP so far in this election cycle.
TikTok’s revenue is estimated at $20B for 2023, with net losses of “several billion dollars”
ByteDance’s total revenues: $124B (annualized from Q3).
Net profits: $24B (annualized from Q1).
2. SpaceX to attempt 3rd Starship launch today at 8 AM ET+
2 initial launches ended with the rockets exploding.
NASA is paying SpaceX $4B to turn Starship into a moon lander that can take astronauts.
“10ish” flight tests are necessary before astronauts can fly.
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4. Figure AI showcases humanoid robot powered by OpenAI
Figure’s humanoid can now understand, talk, and take actions based on speech: