Popular social media platform TikTok and other fast-paced video apps could be ruining the attention span of the youth and children with an “endless flow” of pleasure via short, 15 second, videos, warns an expert from Oxford University…reports Asian Lite News
According to James Williams, an ethicist at Oxford, Chinese short-video making app TikTok is like a “candy store” full of “immediate pleasure”, Wall Street Journal reported.
“It’s like we’ve made kids live in a candy store and then we tell them to ignore all that candy and eat a plate of vegetables,” Williams was quoted as saying.
“We have an endless flow of immediate pleasures that’s unprecedented in human history,” he added.
Williams noted this could leave children struggling to focus on everyday tasks.
Prefrontal cortex is the area of the brain that helps humans control focus. While adults are able to fully use it, children cannot as the brain is still not fully developed until the age of 25.
Scientists warn that if the brain becomes accustomed to ‘constant changes’ – like those in the digital world – it finds it difficult to stay focused, Daily Mail reported.
The short-video platform was also an instant success in India soon after it launched in September 2016. Though it was banned in the country in June 2020, over national security issues, several homegrown short-form video platforms hurriedly filled the vacuum. They now collectively attract over 240 million active monthly users.
To take on TikTok, Meta, formerly Facebook, had also launched Reels on Instagram. With Reels, one can record and edit 15-30 second multi-clip videos with audio, effects and new creative tools.
TikTok and others draw users by monitoring which videos they spend the longest watching, and then showing them more videos similar to these.
Studies show that when users watch these it activates centres of the brain involved in addiction, further making it harder to put down the app.
TikTok is the second most popular social media platform among children in the US, after YouTube, with around 60 per cent of those aged 12 to 15 using it weekly.
A TikTok spokeswoman told WSJ that the app had recently made changes to curb extensive use of the app, including blocking users under-15 from receiving notifications beyond 9 p.m. and sending them regular reminders to take a break, the report said.
The investigation will look into the harm such usage may cause to young people and what TikTok knew about that harm…reports Asian Lite News
A coalition of state attorneys general in the US have launched a nationwide investigation into whether TikTok is designing, operating and promoting its social media platform to children, teens and young adults in a manner that causes or exacerbates physical and mental health harm.
Attorneys general nationwide are examining whether the company violated state consumer protection laws and put the public at risk.
Attorney General Maura Healey, along with her colleagues across the country, has long expressed concern about the negative impact of social media platforms on Massachusetts’s youngest residents.
“As children and teens already grapple with issues of anxiety, social pressure, and depression, we cannot allow social media to further harm their physical health and mental wellbeing,” AG Healey said in a statement.
“State attorneys general have an imperative to protect young people and seek more information about how companies like TikTok are influencing their daily lives,” AG Healey added.
The investigation will look into the harm such usage may cause to young people and what TikTok knew about that harm. The investigation focuses, among other things, on the methods and techniques utilised by TikTok to boost young user engagement, including increasing the duration of time spent on the platform and frequency of engagement with the platform.
In May 2021, a bipartisan coalition of 44 attorneys general urged Facebook to abandon its plans to launch a version of Instagram for children under 13. In November 2021, AG Healey announced her leadership of a nationwide investigation into Meta Platforms, Inc., formerly known as Facebook, for providing and promoting its social media platform Instagram to kids.
Leading the investigation into TikTok is a bipartisan coalition of attorneys general from California, Florida, Kentucky, Massachusetts, Nebraska, New Jersey, Tennessee and Vermont. They are joined by a broad group of attorneys general from across the country.
The top 10 of the Brand Finance ranking is dominated by CEOs (referred to repeatedly as brand guardians) from the tech and media sectors…reports Nikhila Natarajan
The Brand Finance Brand Guardianship Index just in has ranked Microsoft boss, Satya Nadella, as the top CEO in the world.
Nadella, a first-generation Indian immigrant to the US, “has been credited with overhauling Microsoft’s fortunes by changing its culture towards one of teamwork, innovation, and inclusivity, and instilling a growth mindset throughout the business”.
Three other Indian-origin expat CEOs rank high: Sundar Pichai of Google is at 5, Shantanu Narayan of Adobe at 6, and Puneet Renjen of Deloitte at 14.
N. Chandrasekhar of the Tatas is at 25 in the list and Anand Mahindra of M&M and Mukesh Ambani of Reliance are at 41 and 42, respectively. State Bank of India’s Dinesh Kumar Khara is at 46.
The top 10 of the Brand Finance ranking is dominated by CEOs (referred to repeatedly as brand guardians) from the tech and media sectors.
Tech boasts six of the top ten – Tim Cook is in second place, having overseen Apple become the first to hit a $3 trillion market valuation.
Cook is followed by CEOs of household tech names: Tencent’s Huateng Ma at 4, Pichai at 5, and Netflix’s Reed Hastings at 7.
AMD CEO Lisa Su is a new entrant at 10. This makes her the highest-ranked female.
She newly qualifies for the ranking as AMD has propelled into the Brand Finance Global 500 2022 after a 122 per cent brand value growth over the past year.
Su steered AMD through a global chip shortage during the pandemic and came out the other side boasting record revenues.
Her leadership of a tech company is unfortunately a rarity, with most being run by males.
This is reflected in the ranking, as the rise in the number of tech brands has come hand in hand with a decrease in the number of female CEOs in the top 100 – from eight in 2021 to five this year.
At a country level, the index mirrors the Brand Finance Global 500 2022 ranking, with the US and China leading the way. There are 101 CEOs from the US, which represents 40 per cent of the index, and 47 from China, which represents 19 per cent.
Brand guardians from these two countries head up a number of key sectors: Jianjun Wei of Great Wall in Automobiles at 3, Patricia Griffith of Progressive Insurance at 11, Xiongjun Ding of Moutai Spirits at 12, and Baoan Xin of State Grid Utilities at 13.
Among the Americans, Brian Moynihan of Bank of America is at 16, Ramon Laguarta of Pepsi at 17, Andy Jassy of Amazon is at 23.
The highest-ranked CEO outside of the US and China monopoly is ADNOC brand guardian Sultan Al Jaber at 15. He is also the top-scoring leader in the oil and gas sector. Aside from ADNOC, Sultan holds senior positions in the UAE government, and in promoting the diversification and growth of the UAE economy.
CEOs of the three UAE brands from the Brand Finance Global 500 2022 ranking all feature and record higher scores than last year, with Sheikh Ahmed Bin Saeed Al Maktoum of Emirates at 34th and Etisalat’s Hatem Dowidar at 79.
Apple has retained the title of the world’s most valuable brand following a 35 per cent increase to $355.1 billion – the highest brand value ever recorded in the Brand Finance Global 500 ranking.
Apple used 2022 to be effective to a much broader range of services.
The iPhone still accounts for around half of the brand’s sales. However, this year saw Apple give more attention to its other suite of products with a new generation of iPads, an overhaul to the iMac, and introduction of AirTags. Its range of services, from Apple Pay to Apple TV, has had increasing importance to the brand’s success, the report noted.
“Privacy and the environment are salient topics, and Apple bolstered its credentials on both fronts. This is evidenced by a greater transparency of the App Store’s privacy policy, reinforcing the trust customers have in the brand, and the announcement that more of Apple’s manufacturing partners will be moving to 100 percent renewable energy, as the company aims to reach carbon neutrality by 2030.”
Tripling in brand value over the past year, TikTok is the world’s fastest-growing brand. With 215 per cent growth, the app’s brand value has increased from $18.7 billion in 2021 to $59.0 billion. Claiming 18th spot among the world’s top 500 most valuable brands, TikTok is the highest new entrant to the Brand Finance Global 500 2022 ranking.
Overall, media brands accounted for the top 3 fastest-growing brands in the ranking – with another social media app, Snapchat, brand value up 184 per cent to $6.6 billion and South Korean internet brand Kakao, brand value up 161% to $4.7 billion, following closely behind TikTok.
Snapchat saw increased daily usage and revenues grow by 77 per cent in the first 9 months of 2021, with the popularity of its short-form video feature, Spotlight, being a key driver.
Other notable performers from the media sector include those that offer streaming services, with Disney (brand value up 11 per cent to $57.0 billion), Netflix (brand value up 18 per cent $29.4 billion), YouTube (brand value up 38 per cent to $23.9 billion), and Spotify (brand value up 13 per cent to $6.3 billion).
Traditional media brands have seen a continued decline, with people favouring social media platforms and on-demand streaming in their place.
The tech sector remained the most valuable in the Brand Finance Global 500 ranking, with a cumulative brand value of close to $1.3 trillion. In total, 50 tech brands feature in the ranking, however, the brand value is largely attributable to three big players, with Apple, Microsoft (brand value $184.2 billion), and Samsung Group (brand value $107.3 billion) together accounting for more than 50 per cent of the total brand value in the sector.
Closely behind them, Huawei managed to reclaim its place among the top 10 most valuable brands in the world, following 29 per cent growth to $71.2 billion. Huawei’s smartphone business was hit by US sanctions, but it reacted positively by heavily stepping up investment in both domestic technology companies and R&D, as well as turning its focus to cloud services.
Brand Finance is an independent brand valuation and strategy consultancy headquartered in London.
The order also also instructs the Department to draft a report with recommendations on how to safeguard Americans’ personal data, including their genetic data…reports Asian Lite News
US President Joe Biden has revoked and replaced executive orders targeting TikTok, WeChat and eight other software applications signed by his predecessor President Donald Trump.
“President Biden revoked and replaced three E.O.s (executive orders) that aimed to prohibit transactions with TikTok, WeChat, and eight other communications and financial technology software applications; two of these E.O.s are subject to litigation,” the White House said in a fact sheet released on Wednesday.
The new order signed by Biden on Wednesday directed the US Commerce Department to instead evaluate software applications connected with “foreign adversaries” under recent US supply-chain security rules “and take action, as appropriate”, according to the White House.
The order also also instructs the Department to draft a report with recommendations on how to safeguard Americans’ personal data, including their genetic data, as well as a second report containing additional policy proposals.
Citing national security concerns, Trump had sought to block new users from downloading TikTok and WeChat in the US, but his orders were blocked in federal district courts and never took effect.
The American Civil Liberties Union welcomed the move, saying: “President Biden is right to revoke these Trump administration executive orders, which blatantly violated the First Amendment rights of TikTok and WeChat users in the US.
“The Commerce Department’s review of these and other apps must not take us down the same misguided path, by serving as a smokescreen for future bans or other unlawful actions.”
