It's time for TikTokers to enter their miming era. Countless videos suddenly went silent as music from top stars like Drake and Taylor Swift disappeared from the popular app on Thursday. The culprit? Universal Music Group – the world’s largest record company – could not secure a new licensing deal with the powerful information-sharing video platform.
In an open letter published by UMG, it blamed TikTok for “trying to build a music-based business, without paying fair value for the music.” UMG claimed TikTok “responded first with indifference, and then with intimidation” after being pressured not only on artist royalties, but also restrictions about AI-generated content, and a push for user safety.
It’s been a rough week for CEO Shou Zi Chew. He joined CEOs from Meta, X, and Discord for a grilling on Capitol Hill this week over the dangers of abuse and exploitation children are facing on their platforms. Sen. Lindsey Graham went so far as to say these companies have “blood on their hands.” The hearing followed last year’s public health advisory released by the Surgeon General that argued social media presents “a risk of harm” to youth mental health and called for “urgent action” from these companies.
The big takeaway: It appears social media companies are quite agile when under pressure and can change the user experience for billions of people at the drop of a hat, especially when profit margins are involved. Imagine what these companies could do if they put that energy into the health of their users instead.Syria was the first social media war, where the Syrian government harnessed the power of social media to spread misinformation. Ukraine was the first drone war, taking combat beyond the trenches.
Women drove nearly 3x more job growth than men last year — but the story doesn’t end there. Wage momentum is slowing, and spending patterns are shifting. What does that mean for the broader economy? Explore the latest insights from Bank of America Institute.
Chris, an Army veteran, started his Walmart journey over 25 years ago as an hourly associate. Today, he manages a Distribution Center and serves as a mentor, helping others navigate their own paths to success. At Walmart, associates have the opportunity to take advantage of the pathways, perks, and pay that come with the job — with or without a college degree. In fact, more than 75% of Walmart management started as hourly associates. Learn more about how over 130,000 associates were promoted into roles of greater responsibility and higher pay in FY25.
Politician and diplomat Rahm Emanuel joins Ian Bremmer to unpack the Iran War, Gulf tensions around the Strait of Hormuz.