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TikTok Faces More Legal Challenges Over Data Collection and its Failure to Protect Young Users

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TikTok Seeks to Address Data Security Concerns, as FBI Calls for Full Ban of the App

TikTok is facing yet another legal challenge in the US, with the State of Indiana filing a lawsuit that accuses TikTok and parent company ByteDance of violating the state’s consumer protection laws, and in particular, failing to safeguard young people and privacy.

As reported by BBC:

“Indiana filed two lawsuits on Wednesday. The first one claims the app exposes young users to inappropriate content. In the other complaint, [Indiana] also alleges TikTok does not disclose the Chinese government’s potential to access sensitive consumer information.”

Described in court documents as ‘a wolf in sheep’s clothing’, the suit alleges that TikTok ‘deceives and misleads’ consumers about the risks to their data, while also exposing youngsters to ‘a variety of inappropriate content’.

TikTok’s faced similar challenges around the world, and has even been banned for periods in other nations due to perceived promotion of harmful content. Recent reports about harmful challenges have also heightened concerns on this front. A Bloomberg investigation highlighted at least 10 cases of underage users dying after attempting dangerous trends like ‘The Blackout Challenge’.

And this is an aside from the broader concerns about data privacy, which the app remains under CFIUS investigation for, as US politicians continue to debate whether or not the Chinese-owned app should be allowed to continue to operate within the US.

It still feels like it would take a significant escalation for the app banned outright, but that remains a possibility, and with various high-profile security officials also sounding the alarm, the pressure remains high on TikTok, with the threat of total removal from the US, and likely other markets in-turn, looming at all times.

Last month, FBI Director Chris Wray stated that, in his view, TikTok poses a threat to national security, joining FCC Commissioner Brendan Carr and Republican senator Josh Hawley in voicing their concerns about the app and its data gathering processes. Republican Senators, in particular, have continued to raise queries about the app, as the Biden Administration oversees its long-running review of the platform, which has experienced repeated delays and setbacks, and is now, reportedly, unlikely to be completed by its original end of the year timeframe.

But it could, eventually, recommend the removal of TikTok in the US.

For its part, TikTok says that it remains confident that it will be able to address all US concerns about its data security, via a new deal with Oracle to store US user data in the US. But with the company recently noting that European user data can still be accessed by China-based staff, the concerns remain high, and could easily rise even further, dependent on overall US/China relations.

So how are relations between the two superpowers going?

Just looking at headlines from the past week, there are reports of a potential defense partnership between China and Saudi Arabia, ongoing tensions over Chinese military activations in the South China Sea, and the US increasing its military presence in Australia due to concerns about Chinese escalation.

All of these are issues that could lead to further tension between China and the US. But they might not – and while the two nations are working to establish more beneficial, equitable and peaceful ties, that bodes well for TikTok, as there’s no significant increase in public pressure to take action against the app.

But again, things can change very quickly, and with so many security experts flagging concerns about the app, along with the issues related to underage exposure, there’s clearly a level of underlying concern, that could bubble up at any time.

And when you also consider TikTok’s growing influence – the app now has over a billion users, and is increasingly being used as a search engine and a news source, especially among young audiences – those questions are valid, and should be posed before it’s too late.   

The influence of Russian activists on Facebook was only ever analyzed in retrospect. Those calling for action on TikTok are warning that we need to be proactive on such this time around.

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Growth Stock Surges On Ad Fraud Discovery, Analyst Upgrade

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Growth Stock Surges On Ad Fraud Discovery, Analyst Upgrade

Ad data and analytics provider DoubleVerify (DV) is building the right side of a cup base with a buy point of 32.53. The growth stock is today’s selection for IBD 50 Stocks to Watch.




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DoubleVerify has a strong Composite Rating of 94 and a Relative Strength Rating of 89. Its stellar EPS Rating of 96 is even better.

Company sales grew 35% to $112.3 million in the third quarter while earnings per share of 6 cents grew 20% from the previous year.

On Jan. 10, analysts at Barclays upgraded the stock to overweight from equal weight with a price target of 29. Shares gapped up over 6% on the news, and the move helped the stock start its recovery from the January low.

Growth Stock Surges After Finding Fraud Scheme

DoubleVerify helps advertising companies that target users on video, mobile, and social media platforms. The company also has an analytics side that provides data on consumer engagement.

The digital media analytics platform ensures that ads reach their target customers in a safe way. This means that ads reach actual people with the right context. The software also has tools to adapt ads to different devices.

Its technology also seeks to address ad fraud. On Thursday, the company discovered “BeatSting,” the first large-scale ad-impression fraud scheme that targeted audio ads.

DV Fraud Lab first identified the fraud scheme in 2019, which is largely responsible for advertisers losing $20 million in several scams, according to reports. DoubleVerify was credited for unveiling the fraud. Shares last Thursday surged nearly 4% in strong volume.

Deals With Twitter, LinkedIn, Meta, Facebook

The company has partnered with leading social media and mobile platforms like LinkedIn and TikTok to improve ad impact and experience. DoubleVerify has a long-standing relationship with Facebook parent Meta Platforms (META). The social media platform faced a massive boycott in 2020 when several companies removed their ads due to concerns over their brand safety.

In June of last year, DoubleVerify brought features that will allow marketers to see where their ads appear in a user’s timeline. The feature uses artificial-intelligence tools to understand the context in which ads appear. The feature also enhanced brand safety  and attracted Twitter and other social media platforms to try it out. Nonetheless, marketers did not buy in entirely, according to reports, as Twitter’s ad revenue continued to struggle.

The growth stock ranks second in the specialty enterprise software group. The stock went public in April 2021. The New York-based company has locations in the U.S., U.K., Europe, Asia, Australia and South America.

Mutual funds own 39% of shares outstanding. That may not seem like much, but more funds have been picking up the growth stock over the past eight quarters, according to MarketSmith. The stock has an Accumulation/Distribution Rating of B-.

Exchange traded funds hold shares of DoubleVerify as well. The Invesco S&P Small Cap Information Technology ETF (PSCT) and the SPDR FactSet Innovative Technology ETF (XITK) own DV.

Please follow VRamakrishnan on Twitter @IBD_VRamakrishnan for more news on growth stocks.

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YouTube Will Now Enable Brands to Buy Specific Time Slots Around Major Events for Masthead Ads

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YouTube Will Now Enable Brands to Buy Specific Time Slots Around Major Events for Masthead Ads

YouTube has added a new time targeting element to its Masthead Ads, which will enable brands to display their promotions in key times leading up to key events.

As explained by YouTube:

In a time of multiple screens and countless ways to stay entertained, it can be challenging to get your audience’s attention. But even with so much content available at any time, people are drawn to moments they can experience together: a new movie release, a big game, a product launch, a holiday. And these are key opportunities to connect with a brand. Marketers, you know this well: you center advertising campaigns around the tentpole moments most likely to inspire your audience, shift perceptions or influence a purchase decision.”

YouTube’s Cost-Per-Hour Masthead enables brands to own the most prominent placement in the app during the hour(s) leading up to, during or after priority moments.

For example:

“[During the recent World Cup], McDonald’s Brazil turned to the YouTube Cost-Per-Hour Masthead. Their strategy was savvy: reach anyone in Brazil who was watching YouTube an hour before the Brazil vs. Cameroon match and remind them to pick up McDonald’s before the game started. This perfectly timed execution delivered tens of millions of impressions at the very moment fans were preparing for the match.

It could be a good way to hook into key moments, and build momentum for your campaigns, while also establishing association with key events and subjects.

“Just a few weeks ago, Xiaomi, the leading smartphone manufacturer in India, prepared to launch their highly anticipated Redmi Note 12 series via YouTube livestream. To drive viewership, Xiaomi ran the Cost-Per-Hour Masthead during the event. Not only did this activation drive scaled awareness, it led to over 90,000 concurrent livestream views. The Redmi Note 12 went on to generate a record number of first-week sales, making it one of their most successful launches to date.

It’s an expansive, but potentially significant targeting option, which could hold appeal for big brands looking to make a big splash around major events and releases.

You can learn more about YouTube’s Cost-Per-Hour Masthead process here.

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'Astonishing' New Cognitive Research Shows Gaining Knowledge, Learning New Skills, and Achieving Mastery Comes Down to the Rule of 7

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'Astonishing' New Cognitive Research Shows Gaining Knowledge, Learning New Skills, and Achieving Mastery Comes Down to the Rule of 7

While talent matters, the good news is we all learn at basically the same rate–and can “learn anything we want.” Think you don’t have the talent for entrepreneurship? For leadership? For programming, for design… for whatever pursuit you may want to, um, pursue? According to HubSpot co-founder …

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