Insider Finance - Business - TikTok CEO’s testimony went viral

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March 24, 2023

Hello, Insiders. This is Shona Ghosh, the deputy executive editor for Insider in the UK. Today, I’m thinking about the future of humans.

Remember the alarmingly capable ChatGPT? It recently received an upgrade and early testers say it’s a pretty competent programmer, game developer, therapist, and trainee lawyer. Like ChatGPT, the new GPT-4 is still prone to basic errors and hallucinating, but it’s improving rapidly. A lot of white-collar jobs, including in tech, feel like they’re about to become obsolete. Are we ready? Let me know what you think: insidertoday@insider.com.

And here’s what’s on today’s agenda:

The internet is loving TikTok CEO Shou Zi Chew's Congressional testimony.
First-time real-estate investors turn to “house hacking.”
Amazon's HR chief rejected a petition against the new return-to-office policy.

— Shona Ghosh

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THE BIG STORY

TikTok in Congress

Matt McClain/The Washington Post via Getty Images; OLIVIER DOULIERY/Getty Images

Wall Street says that TikTok CEO Shou Zi Chew had a “disaster” day in Congress — but the internet is loving him.

Chew testified in front of Congress on Thursday, as calls for a forced sale of its US business or a nationwide ban gain momentum.

The hearing quickly devolved into a bloodbath of "yes or no" questions from politicians on both sides of the aisle, several of whom appeared uninterested in hearing full responses from the executive.

An analyst with Wedbush wrote that the testimony was a “disaster” moment for TikTok. But snippets from the testimony went viral, with people mocking the proceedings and saying that lawmakers don't know the app well enough to litigate it. And soon, Chew had the internet eating out of his hand.

READ THE FULL STORY HERE

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This edition was edited by Hallam Bullock, Lisa Ryan, Dave Smith, Nathan Rennolds, Jack Robert Stacey, and Shona Ghosh. Get in touch: insidertoday@insider.com.

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Insider Finance - Business - TikTok CEO’s testimony went viral

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