If you're reading this, the Thanksgiving holiday hasn't started yet. Sorry.
If you are wondering what the kids are up to these days, it's a mobile app called TikTok.
And no, it's got nothing to do with clocks or Bloomberg's similarly named social news service. As Axios' Sara Fischer reports, TikTok is a Chinese karaoke app that usually involves people dancing to their favorite songs. And it's being downloaded like crazy.
Why it matters: Any time users are spending a lot of time in an app that isn't owned by Facebook, Google or Snapchat, it is a big concern to those companies. One truism of social media is there is always a next new thing. It’s key for the big giants to own it or clone it.
The backstory: TikTok has its U.S. roots in another app, Musical.ly, that was also popular among the younger set. Last year, Musical.ly was sold to a privately-held Chinese internet technology company called Bytedance. Bytedance merged its Chinese version of the app (TikTok or Douyin as it's referred to in China) with its U.S. version (Musical.ly) in August.
By the numbers: While traffic to TikTok in the U.S. is still relatively small, its footprint has more than doubled in the past year, according to comScore. And it's currently being downloaded more than the best known social networking apps from both Apple's App Store and Google's Play store.
The big question: Is TikTok a superstar in the making or just a one-hit wonder?
We may sleep with our smartphones and spend multiple hours a day staring at device screens, but almost half of American adults say they prefer in-person communication over other modes including text messages, emails or social media, per a poll conducted by SurveyMonkey for "Axios on HBO."
Why it matters: The rapid rise of social media and smartphones led some experts to worry that digital communication would replace face-to-face interaction, potentially leading to weaker relationships and less productivity. But, as Axios' Kim Hart reports. this poll suggests that adults still value the human connection of an in-person conversation over text messages by a 21-point margin.
By the numbers, for adults:
By the numbers, for teens:
Read more about the survey's findings and its methodology in Kim's full story.
Photo Illustration: Axios Visuals
After years of intense focus on internet services and software, chips are once again back in the spotlight, driven by the rise of virtual reality, artificial intelligence, autonomous vehicles, cryptocurrencies and other technologies that require powerful hardware.
At the center of that is Arm, a company that doesn't make any of its own chips, but whose low-power semiconductor designs are used in everything from cars to sensors to cellphones. Long independent, Arm was acquired in 2016 by Japan's Softbank.
CEO Simon Segars sat down with Axios' Kia Kokalitcheva to talk about where the company is headed and how things have changed under its new ownership.
"What's been great about the acquisition is that [SoftBank CEO Masayoshi Son] really cares about longterm growth. He is not interested in short-term optimizations. He's thinking about what can we do now, how can we invest now to drive the biggest return in the future we can possibly think of... We've hired a couple of thousand more engineers into the company in those two years, so that we can invest in parallel in the opportunity that is 5G and AI and IoT and autonomous vehicles, as well as maintaining our core roadmap. We wouldn't been able to do that as a public company."— Arm CEO Simon Segars
Go deeper: Kia has more here.
Photo: Drew Angerer/Getty
Tech stocks took a beating on Monday, as Axios' Courtenay Brown reports.
The bottom line: While there was a broad market sell-off —the Dow and S&P 500 were both down more than 1.5% — tech stocks were hit considerably harder.
What's happening: It's a culmination of several pieces of bad news for technology stocks.
The big picture: All 5 of the so-called FAANG stocks (Facebook, Amazon, Apple, Netflix and Google) are now down more than 20% since their peak, aka bear market territory.
Watch the Flyers mascot Gritty throw down the gloves with a youth hockey player.