Jul 30, 2020 - Economy & Business

TikTok sued for patent infringement

Photo Illustration: Rafael Henrique/SOPA Images/LightRocket via Getty Images

Triller, a short-video making app, sued rival TikTok for allegedly infringing on some of its patents.

Why it matters: This is the latest in a series of problems for TikTok, which is battling government and corporate critics of its ties to China. It's also the latest in the intellectual property wars among apps, following the dispute between Eko and Quibi.

Meanwhile: Sens. Josh Hawley (R-Mo.) and Richard Blumenthal (D-Conn.) asked the Justice Department Thursday to open investigations into both TikTok and video conferencing firm Zoom.

  • They want DOJ to probe "reported violations of Americans’ civil liberties by Zoom and TikTok and the national security implications of both companies’ relationships with the People’s Republic of China."
  • TikTok's parent company ByteDance is based in China. Zoom drew controversy last month after shuttering the account of a group of U.S.-based Chinese activists at Beijing's request.

Go deeper: Triller waits in the wings

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Sara Fischer, author of Media Trends
Oct 21, 2020 - Economy & Business

Quibi says it's shutting down

Photo: Igor Golovniov/SOPA Images/LightRocket via Getty Images

Quibi, the mobile-only video subscription streaming service, is shutting down, the company announced Wednesday. The company said the decision was made to preserve shareholder equity.

Why it matters: Quibi had struggled to hit its subscriber growth targets amid the global pandemic. The app launched six months ago.

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Felix Salmon, author of Capital
1 hour ago - Economy & Business

Wall Street is living up to its bad reputation

Illustration: Sarah Grillo/Axios

Recent headlines will have you convinced that Wall Street is hell-bent on living up to all of its stereotypes.

Driving the news: Goldman Sachs is the biggest and the boldest, paying more than $5 billion in fines in the wake of the 1MDB scandal, in which billions were stolen from the people of Malaysia.

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Axios
1 hour ago - Health

Ex-FDA chief: Pence campaigning after COVID exposure puts others at risk

Former FDA commissioner Scott Gottlieb said "the short answer is yes" when asked whether Vice President Mike Pence is putting others at risk by continuing to campaign after several aides tested positive for COVID-19, stressing that the White House needs to be "very explicit about the risks that they're taking."

Why it matters: The New York Times reports that at least five members of Pence's inner circle, including his chief of staff Marc Short and outside adviser Marty Obst, have tested positive for the virus. Pence tested negative on Sunday morning, according to the VP's office, and he'll continue to travel for the final stretch of the 2020 campaign.

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