April 16, 2024

TikTok Seen Moving Toward US Security Deal, but Hurdles Remain

Negotiations between CFIUS and TikTok have dragged on as officials wrapped their arms around complex technical questions about the app. They edged closer to a detailed agreement in recent months, two people with knowledge of the discussions said.

Under the draft terms, TikTok would make changes to three main areas, the people with knowledge of the discussions said.

First, TikTok would store its American data solely on servers in the United States, probably run by Oracle, instead of on its own servers in Singapore and Virginia, two of the people said. Second, Oracle is expected to monitor TikTok’s powerful algorithms that determine the content that the app recommends, in response to concerns that the Chinese government could use its feed as a way to influence the American public, they said. Lastly, TikTok would create a board of security experts, reporting to the government, to oversee its U.S. operations, three people with knowledge said.

BuzzFeed earlier reported TikTok’s plan to store its data with Oracle; Axios earlier reported that Oracle had started monitoring TikTok’s algorithms.

TikTok is represented in the negotiations by the law firms Covington Burling and Skadden, Arps, Slate, Meagher Flom, people familiar with the matter said. Among the government officials negotiating a deal are Adam Hickey, a Justice Department national security lawyer, two people with knowledge of the talks said.

Article source: https://www.nytimes.com/2022/09/26/technology/tiktok-national-security-china.html

Factory Jobs Are Booming Like It’s the 1970s

Ed Gresser, the vice president of trade and global markets at the Progressive Policy Institute, a left-leaning think tank, said that the United States had seen a noticeable uptick in new manufacturing establishments since 2019, especially in the pharmaceutical sector, which might be a response to the pandemic. Food and beverage establishments have also continued to grow.

But while growth in the U.S. manufacturing sector was strong last year, so were imports of manufactured goods, Mr. Gresser said. That suggests, he said, that the growth of manufacturing probably reflects strong consumer demand in the United States through the pandemic, rather than a shift to production in the United States.

While attitudes toward doing business in China have quickly soured, patterns of production have been slower to change. A survey of 117 leading companies released in August by the U.S. China Business Council found that business optimism had reached record lows, but U.S. corporations remained overwhelmingly profitable in China, which is still home to the world’s most expansive ecosystem of factories and a lucrative consumer market.

Eight percent of the surveyed companies reported moving segments of their supply chain out of China to the United States in the past year, while another 16 percent had moved some operations to other countries. But 78 percent of the companies said they had not shifted any business away from China.

The Biden administration is hopeful that new policies — including a manufacturing competitiveness law and a climate law the president signed this summer — will encourage more companies to leave China for the United States, particularly cutting-edge industries like clean energy and advanced computing.

Brian Deese, the director of the National Economic Council, said in an interview that the laws were already changing the calculus for investment and job creation in the United States. In recent weeks, White House officials have promoted factory announcements from automakers, battery companies and others, directly linked to the climate bill.

“One of the most striking things that we are seeing now,” Mr. Deese said, “is the number of companies — U.S. companies and global companies — that are committing to build and expand their manufacturing footprint in the United States, and doing so based on their view that not only did the pandemic highlight the need for more resilience in their supply chains, but that the United States is creating a policy environment that makes long term investment here in the United States more attractive.”

Article source: https://www.nytimes.com/2022/09/26/business/factory-jobs-workers-rebound.html

Women and Gen Z Drive ‘Don’t Worry Darling’ Box Office

Never underestimate the interest in ogling a cute guy on a big screen.

Harry Styles, the white-hot musician, sex symbol and fledgling movie star, powered the critically drubbed and controversy-entangled “Don’t Worry Darling” to a solid $19.2 million in estimated ticket sales at North American cinemas over the weekend. That No. 1 total was propped up by more than $3 million in preview screenings from earlier in the week.

Women made up 66 percent of the audience, according to Warner Bros., the studio behind the $35 million film, with an unusually large 52 percent of ticket buyers under the age of 25.

“Don’t Worry Darling,” an R-rated romantic mystery co-starring Florence Pugh and directed by Olivia Wilde, who also acted in it, received a B-minus grade from moviegoers in CinemaScore exit polls. It played in 4,113 theaters in the United States and Canada.

The film collected an additional $10.8 million overseas, in 61 markets.

Reviews were mostly negative, and Wilde and her film generated a torrent of unfavorable prerelease publicity, with Wilde getting into a public tit for tat with Shia LaBeouf, who was originally hired for the role that Styles ended up playing; Pugh seeming to actively resist promoting the film, leading to reports of a rift between herself and Wilde. In August, Pugh voiced discomfort about an emphasis on sex in “Don’t Worry Darling” marketing materials. (“Reduced to your sex scenes” is how she put it, speaking to Harper’s Bazaar. “It’s not why I’m in this industry.”)

Article source: https://www.nytimes.com/2022/09/25/movies/dont-worry-darling-box-office.html

Silicon Valley Had Its Heyday. Can Tech Ecosystems Now Grow Inland?

I’ve heard some concern, particularly when the Supreme Court decision [overturning Roe vs. Wade] was made. But I have not heard of any specific people who were going to move and decided not to, or had moved and decided to leave.

You lived through a tech bust. Are there similarities to what’s happening now?

In the first decade of AOL, nobody knew or cared about the internet, nor cared about AOL. In the second decade, suddenly everybody wanted to get online, and AOL ended up being the on-ramp. And when that was happening, you saw our stock price soar. Others said, “Wow, this internet thing is really interesting.”

And suddenly there were hundreds of other dot-com companies, many of which were concept stocks that went public quite early. And then in 2000, obviously, it turned. Today, it’s fair to say that we’ve seen a 13-year bull market, with valuations holding for most companies, especially at historic levels for fast-growing tech firms. Recently, policy changes around things like interest rates have resulted in some of the air coming out of that balloon.

What’s different is that most of the companies that have gone public in the last five years are more fully developed. And so what’s happening now is a reset in their valuation. But the vast majority of the companies will still be around years from now, as opposed to what we saw in 2000.

How could rising rates mess with tech investing? What kind of companies do you think are most vulnerable right now to missing out on investment at a 3 percent or 4 percent benchmark rate?

What we’ve seen so far is more of a reset in the later-stage growth rounds, including by some of the very active crossover funds — Tiger and others — that are pulling back from investing in public companies. In the earlier stages, when you’re investing, call it a million dollars, and the valuation might be $10 million, there’s going to be less of a reset than when companies are worth hundreds of millions or even billions.

Article source: https://www.nytimes.com/2022/09/24/business/dealbook/steve-case-rise-of-rest.html

Silicon Valley Slides Back Into ‘Bro’ Culture

“We made a bit of progress, but I feel like that was almost a smoke screen,” said Christie Pitts, an investor at Backstage Capital, a venture capital firm. Now “there’s definitely a feeling of backsliding.”

Two parallel Silicon Valleys have emerged. There’s the ThunderDome of Twitter, where tech thought leaders collect likes by posting edgy memes and spouting flip political takes — then invoke cancel culture when they are criticized. They troll their way into impulsive $44 billion acquisitions, then back out. They promote an entirely online existence inside the so-called metaverse.

Then there’s the day-to-day reality, where women still get just 2 percent of venture capital funding and Black founders get 1 percent, where the largest tech companies have made negligible progress on diversifying their staff, and where harassment and discrimination remain common.

Last month, Estelle McGechie, the former chief executive of Atomos, sued the electronics company for gender discrimination and retaliation. She said she had been fired after she alerted the company’s board to fraud. This month, a Vox report about sexual assault and victim silencing at Launch House, a hacker house backed by Mr. Andreessen’s firm, went largely unremarked-upon by the tech industry’s most prominent voices.

Then Verkada, a security start-up that has faced accusations of harassment of female employees and lax internal controls over access to its surveillance tools, raised $205 million from top venture firms. And Shervin Pishevar, a venture capitalist who was accused of sexual misconduct by five women in 2017, resurfaced as an executive at Kanye West’s company, Yeezy.

Article source: https://www.nytimes.com/2022/09/24/technology/silicon-valley-slides-back-into-bro-culture.html

The Discount Data That Some Colleges Won’t Publish

Many people qualify for need-based financial aid, but most schools can’t afford to meet every family’s full need. Section H2 of the C.D.S. tells you how much of the need, on average, a school is able to meet. Families often end up filling any gap with student or parent loans.

Parents whose kids get in but find that a school meets even less of their need than average can appeal the financial aid offer. And if the school’s average gap seems particularly foreboding before application season begins, you can have a conversation with the financial aid officers. Ask them how they assess your odds of getting a decent amount of aid — and ultimately being able to afford the place at all.

Then there are the higher-income families. Plenty of people with household incomes of, say, $300,000 won’t qualify for much need-based aid, if any. Still, they may not have much college savings for their offspring if they’ve been repaying their own student debt for decades, and they may not feel able to afford a college’s full price or be willing to borrow a lot of money to do so.

That’s where Section H2A comes in. The technical description of what schools are revealing here is “institutional non-need-based scholarship or grant aid.” My translation is this: “Here’s how many discounts we issue to people who have the ability to pay, at least according to our financial aid calculations, but lack the willingness to do so.”

This is the so-called merit aid that so many schools give out nowadays. At lots of schools, nearly everyone gets something, and the C.D.S. lists the average amount of merit aid that people with no financial need end up getting.

The next step might be to use the form to find the number of people who get need-based aid and then the number who receive no-need merit. Add those together and subtract the sum from the total number of students, and you can figure out how many — or how few — people are paying the full price.

Article source: https://www.nytimes.com/2022/09/24/your-money/college-common-data-set-merit-aid.html

As Cable News Focused on Queen, Democratic Political Donations Slipped

In the nine days after the queen’s death, the digital fund-raising totals for Ms. Demings slipped about 60 percent compared with the last nine days of August, said Christian Slater, a campaign spokesman.


How Times reporters cover politics. We rely on our journalists to be independent observers. So while Times staff members may vote, they are not allowed to endorse or campaign for candidates or political causes. This includes participating in marches or rallies in support of a movement or giving money to, or raising money for, any political candidate or election cause.

Laura Carlson, digital director for the Democratic Governors Association, said in an interview on Friday that the group’s fund-raising fell from the first to the second week of September, which was a departure from past totals.

“One of the factors that kept kind of coming up was the queen’s funeral,” she said. “It definitely hurt our projections.”

In the United States, more than 11 million people watched the queen’s funeral on broadcast and cable television networks on Monday, according to Nielsen, the research firm known for its television rating figures. The total did not include those who used streaming services.

“It’s also kind of a spectacle in the way that political news isn’t,” Deborah L. Jaramillo, an associate professor of film and television at Boston University, said in an interview on Friday.

Professor Jaramillo, who is working on a book about how death is portrayed on television, said that nonstop coverage of the queen’s funeral was less costly for cable news networks and underscored their tendency to cover highly visual events.

Article source: https://www.nytimes.com/2022/09/23/us/politics/queen-democratic-donations.html

Will Anyone Give ‘Don’t Worry Darling’ a Chance?

To me, though, the Cold War artifact it recalled was Kremlinology — the practice of scrying every available scrap of information to discern the hidden motivations and power struggles of distant, unknowable figures. The events that drew such close attention to “Don’t Worry Darling” were not huge ones, in the scheme of things: They included a supposed feud between the director, Olivia Wilde, and the lead actress, Florence Pugh, possibly involving a pay gap between leads; the actor Shia LaBeouf’s being replaced, under disputed circumstances, with Styles; LaBeouf’s leaking messages from Wilde about Pugh; Wilde’s being served with custody papers from her ex-fiancé, Jason Sudeikis, while onstage at CinemaCon; and, above all, Wilde’s becoming romantically involved with Styles, 10 years her junior. Where the theoretical animosity between Styles and Pine was supposed to fit in was unclear. But by then people were happy to believe anything — even the baseless-rumor equivalent of jumping the shark — as long as it kept building the story of a woman who fostered a work environment so fraught that one star would spit on another, in public and on camera, for no apparent reason.

“Don’t Worry Darling” is just the most recent example of a film maudit, or “cursed film.” That was the term coined for Jean Cocteau’s Festival du Film Maudit in 1949, describing works that had been wrongfully neglected, or deemed too outrageous to merit serious attention — “movies rendered marginal by disrepute,” as J. Hoberman would later write in The Village Voice. Films made by women are not the only ones stuck in this defensive position, but they seem disproportionately prone to it, often with criticism centering on the director herself. (Elaine May’s experience on “Ishtar” was such that Hoberman classed her as a cineaste maudit; she wouldn’t direct again for decades.) Hints of a production’s chaos or excess are less likely to be taken as signs of unruly genius, and more often framed as messiness or lack of authority. The more that talk swirled around “Don’t Worry Darling,” the more its quality — and then, specifically, Wilde’s competence — were called into question.

Out comes the Tomatometer, and the party’s over.

Cinema has a century’s worth of lore about films troubled by budget overages, clashing personalities and on-set affairs: Werner Herzog and Klaus Kinski’s wanting to kill each other while making “Fitzcarraldo,” mental breakdowns on the set of “Apocalypse Now,” Peter Bogdanovich’s leaving his actual genius of a wife after an affair with a young Cybill Shepherd on “The Last Picture Show.” These productions were plagued by bad press and rumors, but they never faced the wrath of stan Twitter. These days, fans spread rumors and memes, which are picked up by media outlets, which disguise their prurience with speculation about box-office prospects or reviews. Then out comes the Tomatometer, and the party’s over.

Article source: https://www.nytimes.com/2022/09/23/magazine/dont-worry-darling-olivia-wilde.html

Inflation May Save You Money on Your Taxes

“If it wasn’t adjusted, they would say, ‘What the heck happened on my tax return?’” he said. “That’s a big tax increase.”

To avoid bracket creep, the government began adjusting, or indexing, tax brackets for inflation in the early 1980s, after a long period of raging inflation.

Daniel T. Massey, a principal with Walz Group, an accounting firm in Lititz, Pa., said people whose income had kept pace with inflation would see no change in their tax bracket, while someone with a stagnant or fixed income might have a lower tax bill because of the inflation adjustments.

Mr. Massey gave this example: A single filer in 2021 who earned $100,000 and took the standard deduction would have paid $15,009 in taxes, for an effective tax rate of 15 percent. Under projected brackets for 2023, a taxpayer with the same income would pay $14,383 — a saving of $626 — for an effective rate of 14.4 percent.

The standard deduction, which reduces your taxable income without requiring that you itemize deductions, is expected to rise to $13,850 next year from $12,950 this year for single filers and to $27,700 from $25,900 for couples.

Here are some questions and answers about income tax inflation adjustments:

Next year, you’ll be able to contribute an estimated $6,500 to an individual retirement account, up from $6,000 this year. Limits are $1,000 higher if you’re over 50; this “catch-up” amount is not indexed to inflation, but would be under legislation pending in Congress known as Secure Act 2.0. (Adjustments for workplace 401(k) accounts are calculated differently, based on data that will become available next month, Mr. Pomerleau said).

Article source: https://www.nytimes.com/2022/09/23/your-money/inflation-taxes-savings.html

The Midterm Election’s Most Dominant Toxic Narratives

A month after Florida passed legislation that prohibits classroom discussion or instruction about sexual orientation and gender identity, which the Republican governor, Ron DeSantis, signed into law in March, the volume of tweets falsely linking gay and transgender individuals to pedophilia soared, for example.

Language claiming that gay people and transgender people were “grooming” children for abuse increased 406 percent on Twitter in April, according to a study by the Human Rights Campaign and the Center for Countering Digital Hate.

The narrative was spread most widely by 10 far-right figures, including midterm candidates such as Representatives Lauren Boebert of Colorado and Marjorie Taylor Greene of Georgia, according to the report. Their tweets on “grooming” misinformation were viewed an estimated 48 million times, the report said.

In May, Ms. Boebert tweeted: “A North Carolina preschool is using LGBT flag flashcards with a pregnant man to teach kids colors. We went from Reading Rainbow to Randy Rainbow in a few decades, but don’t dare say the Left is grooming our kids!” The tweet was shared nearly 2,000 times and liked nearly 10,000 times.

Ms. Boebert and Ms. Taylor Greene did not respond to requests for comment.

On Facebook and Instagram, 59 ads also promoted the narrative that the L.G.B.T.Q.+ community and allies were “grooming” children, the report found. Meta, the owner of Facebook and Instagram, accepted up to $24,987 for the ads, which were served to users over 2.1 million times, according to the report.

Meta said it had removed several of the ads mentioned in the report.

“The repeated pushing of ‘groomer’ narratives has resulted in a wider anti-L.G.B.T. moral panic that has been influencing state and federal legislation and is likely to be a significant midterm issue,” said David Thiel, the chief technical officer at the Stanford Internet Observatory, which studies online extremism and disinformation.

Article source: https://www.nytimes.com/2022/09/23/technology/midterm-elections-misinformation.html