This Week in Startups TikTok CEO grilled in front of Congress, Coinbase's Wells Notice & Do Kwon arrested | E1705
Mar 23, 2023
TikTok's CEO faced intense questioning in Congress over data privacy and potential espionage issues. The discussion highlighted China's influence on social media platforms and their surveillance tactics. Meanwhile, Coinbase was issued a Wells notice by the SEC, signaling serious regulatory challenges ahead. The arrest of crypto fugitive Do Kwon added to the drama surrounding the cryptocurrency landscape. All these events raise significant questions about digital privacy, national security, and the future of tech regulation.
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Congressional Grilling
- Rep. Bill Johnson grilled TikTok CEO Shou Zi Chew about backdoors in TikTok's source code.
- Chew evaded the question, prompting Johnson to remind him that lying to Congress is a federal crime.
Evasive Answers
- Rep. Michael Burgess questioned Chew on who prepared him for the hearing.
- Chew deflected, claiming he received unsolicited advice but prepared with his team.
China's Citizen Surveillance
- China uses private company apps like WeChat to monitor citizens' behavior and enforce social compliance.
- Features like the "deadbeat map" expose personal information based on debt status.