Everyone Meet: Black Friday coupon code here. There's been a lot of talk about banning a Tick Tock and that talk has ramped up recently, especially as the FBI is now expressing extreme concern over security lapses at Tick Tock in this video. I'm going to break down whether it's actually potentially likely that Tick Tock ends up getting banned in the United States That means no more tick tock on the app stores for Android Apple or otherwise I Doubt any kind of Ip bands would work since I Think pretty much all of us are familiar or capable of using a VPN which now just takes the click of a button. But good news is this video is not brought to you by a VPN provider. It's just brought to you by the courses on building your wealth link down below and the Elite Hustler's new course launching on Friday. So let's talk about this first. We have bipartisan calls now to ban Tick Tock within Congress Some folks say this is just political posture, but it's interesting because you're getting this posturing from both sides. We just had Mark Warner Go on. Fox Top Ranking: Democrat From the Senate Intelligence Committee saying that quote I think Trump was right about banning Tick Tock See, remember Donald Trump tried to ban Tick Tock in 2020, citing a national security threat as of course, he was duking things out with China which he pretty much did for his entire four years as president. Remember, some of the biggest tariffs against China were actually implemented under Donald Trump especially and including 15 to 25 percent tariffs on chips, which some say have helped lead to the ballooning of actually the Chinese chip industry, making their homegrown chip industry much more popular. Of course, Biden has picked up the pacing and has also introduced recently with the Chips Act even military tariffs against Chinese Chips and making it harder for them to get access to high-end artificial intelligence capable chips. Of course, companies like Nvidia and AMD who sell about 25 of or get about 25 of their revenue from China are like we'll be fine. We'll we'll figure it out, we'll just we'll just make a new chip that's compliant Anyway, Obviously, a lot of tension between the United States and China, but Mark Warner a warmer excuse me warns that there are two problems with Tick Tock. One is that information is being gathered from our children and that it's being stored in Beijing Tick Tock has regularly said no, we store your information in the United States But now we've got other senators and the FCC commissioner saying yeah, Well, we have evidence that well, maybe you do store the information in the United States. You also potentially store the information in Singapore as a backup and that potentially also still makes it to Beijing Which since the Communist Party of China has the power to tell companies what to do, it's entirely possible for the CCP to say hey, we want you to give us all the data you have or allow us to look at it and that data could be quite sensitive. So not just knowing what children are doing on Tick Tock but potentially knowing what everybody's doing on Tick Tock Who uses Tick Tock or knowing what anybody does on their phone just by having Tick Tock installed? Oh, and quick reminder that coupon code now also comes with a five million dollar trading portfolio challenge. If you join the Stocks and Psychology of Money course by Black Friday, make sure you join that because the challenge begins next. Monday Look forward to seeing you there. Remember your lifetime access to the lectures and as long as we do the live streams, you got access. No monthly fees at all. Some suggest that Tick Tock could potentially not only access your contacts which you usually give permission to to find friends on Tick Tock but also get phone numbers, birth dates, face, ID information. so biometric information, access to your camera, and access to your location data. This has led security Personnel in the United States and military personnel to actually be encouraged or required to completely delete Tick Tock from their phone. Some people like the FCC Commissioner, go as far as saying not only should you delete Tick Tock from your phone, but you should just get a whole new phone. Now some of this just seems extreme because I don't think people are going to go delete an app and then go get a brand new phone. but the FBI Mark Warner and many others are now suggesting. look, it's not just the fact that they have potentially access to all of our data, it's the fact that they could now potentially that is Chinese could use Tick tock to influence Americans What if all of a sudden we start getting pushed some more pro-chinese Vlogs and we start getting down votes on or or seeing fewer critical Chinese posts? What if they want to influence our elections in theory by promoting more of one candidate versus another? What if essentially they could brainwash Americans using a social media app that we think of as entertainment now because of this Senators like Marco Rubio and Gallagher have on the 10th of November here 2022 introduced a bill that would actually ban Tick Tock. Now of course, whether that's actually going to go anywhere is up to question and I'm going to give you some of my thoughts on what I actually think might happen or might not happen with Tick Tock but consider this: Tick Tock As of the last data set that we got with September 2021 had 1 billion active users monthly. That's like as many users as Elon Musk wishes Twitter has. Twitter would have to grow about four to five x to get to a billion users on an active basis monthly. And 1 billion also represents about one in seven to one in eight people who exist in the world. Which given the fact that not everybody in the world actually has a cell phone or not everybody in the world is actually capable of using Tick Tock Because some people are too old, some people are too young. It's kind of interesting to think of how prolific Tiktok actually is. And it doesn't help that BuzzFeed And this is a you know, Usually when we cite BuzzFeed, it's kind of like, really BuzzFeed But this is a report that is circulated throughout the US government pretty regular regularly. And it doesn't help that BuzzFeed is reporting that in June Chinese Employees at Bite Dance confirmed that essentially they have access to monitor our locations and some of our data, birthdays, phone numbers, and so on. Of course, Tick Tock's owner, Bite Dance and the CEO suggests, no, we want to work with regulators and we're totally willing to work with regulators. And one of the biggest is actually C F I U S. This is the Committee on Foreign Investment in the U.S and they're working with Tick Tock on leading the regulatory charge to make sure there are indeed robust protocols and oversight by U.S Regulators as the CEO of Tick Tock said says, is a top priority for him. but the Biden Administration hasn't really been pushing for concerns over Tick Tock or resolving concerns over Tick Tock. So a lot of folks are skeptical that this organization Cfius some people call it a Ciphius Cypheus. something like that. how whatever you want to call it, it's the same organization. it's a part of the Treasury Department and some folks are just saying Biden The Biden Administration isn't actually giving them enough pressure to make sure that Tick Tock is ensuring our data is safe as soon as possible. Biden has mostly been relaxed about concerns over Tick Tock compared to certainly Trump Now I Personally Also wonder if I have Tick tock on my phone? Does that mean they could potentially have access to password apps on your phone like the ones built into the Apple ecosystem? the Android ecosystem Safari Chrome or other password apps that would be concerning because that potentially then has access to everything. your passport numbers, your social security numbers, your bank account numbers, your credit card numbers and that's not really popular. But what else is not really popular is the idea of actually Banning Tick Tock see telling Google and Apple to ban Tick Tock probably won't work given the free Enterprise Market that we have in America regulating Tick Tock might work, but it's going to be really hard to make sure data doesn't end up flowing over to Beijing You could on a localized basis have companies say hey, you're not allowed to have tick tock on your company phone or military departments might say Hey you have to install these endpoint Management systems that ban you from having tick tock on your phone. That's entirely possible as well, and probably the more likely Direction Since the FCC Can't Ban Tick Tock alone the Pentagon Can't Ban Tick Tock alone. Maybe Congress can do it, but we don't think Congress is going to do anything for the next two years since they pretty much can't agree on anything other than barely eeking through a budget. And now we're back to gridlock, where Republicans control the house and Democrats control the Senate. And since this isn't really a big bipartisan priority, even though you do have senators from both sides of the aisle interested in Banning Tick Tock it seems unlikely that before the 2024 election, anything's ever going to change with Tick Tock. So what's my take? Well, my take is Tick Tock isn't going anywhere anytime soon. It would be extremely unpopular with a lot of people, including my wife, and it would anger a lot of people. Sure, people could just go to YouTube shorts and Instagram which they probably would if it were banned, but the odds of it actually getting banned are pretty dang low. And if you're concerned, yeah, maybe you want to delete Tick Tock. If you're not concerned, then business as usual I suppose and good luck, but if you start seeing more Chinese propaganda now, you might know why.