This Week in Startups Facebook funding anti-TikTok lobbyists with Taylor Lorenz + SEC SPAC crackdown, Fast vs. Bolt | E1422
Mar 30, 2022
In this engaging discussion, Taylor Lorenz, a Washington Post journalist renowned for her insights on social media, reveals how Facebook employed a GOP firm to undermine TikTok. She dives into the misinformation surrounding TikTok trends and their societal impacts, emphasizing the need for media literacy. The conversation shifts to regulatory challenges, including potential SEC crackdowns on SPACs. Finally, Lorenz critiques the startup landscape, highlighting struggles faced by companies like Fast while stressing the importance of sound business principles.
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Facebook's smear campaign
- Facebook hired Targeted Victory, a GOP PR firm, to spread negative stories about TikTok.
- These included false narratives about dangerous trends originating on TikTok, like the "slap a teacher" challenge.
Tay-Bombs
- Taylor Lorenz quickly made a name for herself at the Washington Post with impactful stories about social media.
- These stories, dubbed "Tay-bombs," cover important issues like platform manipulation and online influence.
TikTok's influence
- TikTok's algorithm and its impact on young people raise legitimate concerns.
- Its cultural relevance and potential for manipulation are greater than Facebook's.
