Former Meta global affairs chief Nick Clegg said Friday that tech companies should keep a distance from politics and people should feel "uneasy" about those firms intervening in the public space."I generally don't think that politics and tech innovation mixes very well," Clegg told CNBC's "Squawk Box." "I think it's quite good when they kind of keep each other at a certain, respectful distance."President Donald Trump's deal with China this week to keep TikTok alive in the U.S. includes heavy doses of both e ...

LOGIN SUBSCRIBE | FastCo Works advertisement BYÂ Reuters | Fast Company Newsletters "There was some resistance on the Chinese side, but the fundamental thing that we wanted to accomplish is that we wanted to keep TikTok operating, but we also wanted to make sure that we protected Americans' data privacy as required by law,†Vance told reporters at an Oval Office briefing. Trump's order says the algorithm will be retrained and monitored by the U.S. company's security partners, and operation of the algorithm w ...

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Core Viewpoint - Meta is introducing a subscription model in the UK for ad-free access to Facebook and Instagram, responding to regulatory guidance from the Information Commissioner's Office (ICO) [3][4][5] Subscription Details - The subscription will be priced at £2.99 (approximately $4) per month on the web and £3.99 on iOS and Android, with the higher mobile price reflecting fees from Apple and Google [2] - This offering will be rolled out in the coming weeks [2] Regulatory Context - The ICO has engaged with Meta regarding this new model, which aligns with their regulatory guidance on consent or pay business models [3][4] - The ICO supports the shift to a consent or pay model, moving away from the previous ad-targeting practices that were deemed non-compliant with UK law [4][5] Comparison with EU Regulations - Meta's consent or pay model is also present in the EU, but it faces challenges from the European Commission regarding compliance with antitrust provisions of the Digital Markets Act [5][6] - The company contrasts the UK’s regulatory approach as more constructive and pro-growth compared to the EU's, which it claims imposes excessive requirements [6][7]

Core Insights - TikTok, owned by ByteDance, has faced scrutiny in the U.S. over user data security concerns, leading to a complex relationship with the government [1][14] - An executive order by President Trump has approved the sale of TikTok's U.S. operations to an American investor group, valuing the U.S. business at approximately $14 billion, with potential future valuation exceeding $60 billion [3][4] Group 1: Ownership and Valuation - A consortium of investors, including Oracle, Silver Lake, and Andreessen Horowitz, is expected to oversee TikTok's U.S. operations, holding an 80% stake, while Chinese stakeholders will retain the remaining shares [5][6] - The deal is part of a framework agreement between the U.S. and China, with President Xi Jinping's approval for the transaction [4][5] Group 2: Operational Changes - Oracle is anticipated to manage TikTok's security and safety measures, replicating and securing a new U.S. version of the algorithm, which ByteDance will not have access to [9][10] - Reports suggest that once the deal is finalized, the TikTok app may be discontinued in the U.S., requiring users to transition to a new platform, though details about this platform remain unclear [11] Group 3: Historical Context - The timeline of TikTok's relationship with the U.S. government includes various legal battles and negotiations, starting with Trump's executive order in August 2020 to ban transactions with ByteDance [14][15] - TikTok has consistently denied posing a security threat, asserting compliance with local laws regarding data storage in the U.S. [16]

Market Overview - US stocks experienced mostly gains on Friday, with the Dow Jones Industrial Average rising approximately 0.4% and the S&P 500 gaining 0.15%, while the Nasdaq Composite fell 0.16% after three consecutive days of losses [1] - The market's initial rise was influenced by the August Personal Consumption Expenditures (PCE) index, which showed a year-over-year increase of 2.9% and a month-over-month increase of 0.2%, aligning with economists' expectations [3] Consumer Sentiment - The University of Michigan's consumer sentiment survey indicated that Americans were more pessimistic about the US economy than anticipated in September, leading to a pullback in stocks from earlier gains [2] Trade Policies - President Trump announced a potential 100% tariff on imports of branded drugs for pharmaceutical companies not building manufacturing plants in the US, causing shares of drugmakers in Europe and Asia to decline [4] - Additional tariffs on imports of heavy trucks and certain furniture categories are set to take effect on October 1, contributing to market uncertainty amid concerns about the sustainability of the AI boom and the risk of a US government shutdown [5] Corporate Developments - Trump approved a deal to spin off TikTok's US operations from China's ByteDance, with a proposed price of $14 billion, which was viewed as undervaluing the company, estimated to be worth around $40 billion [6]

Market Performance - US stocks experienced a rise on Friday, with the Dow Jones Industrial Average increasing by approximately 0.6%, the S&P 500 gaining 0.5%, and the Nasdaq Composite ticking up by 0.2% after three consecutive days of losses [1] Inflation Data - The Personal Consumption Expenditures (PCE) index for August showed a year-over-year increase of 2.9% and a month-over-month rise of 0.2%, aligning with economists' expectations despite inflation remaining above the Federal Reserve's 2% target [2] Trade Tariffs - President Trump announced a potential 100% tariff on imports of branded drugs for pharmaceutical companies not building manufacturing plants in the US, causing shares of drugmakers in Europe and Asia to decline [3] - New tariffs on imports of heavy trucks and certain furniture categories will take effect on October 1, adding uncertainty to markets already concerned about the sustainability of the AI boom and the risk of a US government shutdown [4] Corporate Developments - Trump approved a deal to spin off TikTok's US operations from China's ByteDance, with a proposed price of $14 billion, which was viewed as undervaluing the company, estimated to be worth around $40 billion [5]

Core Insights - The Trump administration's estimated valuation of TikTok's US business is $14 billion, significantly lower than previous estimates of around $40 billion, surprising investors who view this as a bargain for potential buyers like Oracle Corp. and Silver Lake Management LLC [1][2] Valuation Context - Vice President JD Vance's comments highlight the disparity between the current valuation and earlier projections, indicating that the final purchase price will ultimately be determined by the buyers [2][3] - Ashwin Binwani, founder of Alpha Binwani Capital, suggests that the proposed valuation could be the most undervalued tech acquisition of the decade, estimating it reflects only a third of TikTok's true value based on financial metrics and peer comparisons [4] Revenue Generation - TikTok's US operation, which has 170 million active users, generates revenue exceeding $10 billion annually, making it the firm's most lucrative market [5] Price-to-Sales Ratio - At a $14 billion valuation, TikTok US would have a price-to-sales ratio of approximately 1.4 times, comparable to mature, low-growth companies like Exxon Mobil Corp. and General Mills Inc. In contrast, competitors like Meta Platforms Inc. and Alphabet Inc. trade at significantly higher multiples of around 10 and 8 times sales, respectively [6] Market Reaction - The suggested valuation has been described as "daylight robbery" by Vey-Sern Ling, a senior equity adviser for Asia technology, indicating strong market sentiment against the proposed price [7] Deal Structure - The deal must be completed within 120 days and will involve spinning out TikTok US into a new joint venture, reducing ByteDance's stake to less than 20% to address US national security concerns [7]

Core Insights - Kuaishou Technology launched its Kling AI 2.5 Turbo Video Model on September 23, 2025, featuring significant upgrades in text-to-video and image-to-video capabilities, enhancing generation quality and reducing utilization costs [1][12]. Performance Evaluation - In blind tests, Kling AI's 2.5 Turbo Video Model achieved impressive win-loss ratios in text-to-video tasks: 285% against Seedance 1.0 mini, 212% against Veo3-fast, and 160% against Seedance 1.0 [2]. - For image-to-video tasks, the model secured win-loss ratios of 208%, 289%, and 164% against the same benchmarks [2]. Enhanced Features - The new model shows improvements in prompt adherence, allowing for better handling of complex instructions and more precise video generation, aligning closely with creators' visions [6][13]. - It can generate dynamic motion and camera movements with greater amplitude, simulating real-world physics for smoother visuals, particularly in high-motion scenes [8]. - The model captures artistic styles from reference images more accurately, improving stylistic consistency and aesthetic quality in generated videos [9]. Pricing and Accessibility - The Kling AI 2.5 Turbo Video Model is now available at a price nearly 30% lower than its predecessor, with each five-second 1080p video costing 25 credits, down from 35 credits [10]. Commitment to Creators - The launch reinforces Kuaishou's commitment to empowering content creators by enhancing video generation controllability, stability, and consistency, suitable for various professional creative scenarios [13]. - Since its debut, Kling AI has undergone over 30 iterations to improve model quality and introduce innovative features [13]. Industry Impact - Kling AI powered the world's first AI-generated series, "New World Is Loading," which has surpassed 200 million views, showcasing its potential in the entertainment industry [14].

Core Viewpoint - Meta is launching an ad-free subscription service for Facebook and Instagram users in the UK, responding to regulatory pressures regarding personalized advertising [1][3]. Pricing Structure - Web users will be charged £2.99 a month, while mobile users will pay £3.99 a month for an ad-free experience. If accounts are linked, only one monthly fee is required [2]. Service Rollout and User Options - The ad-free subscription service will be rolled out in the coming weeks. Users opting not to subscribe will continue to see ads based on their personal data [3]. Regulatory Context - The subscription model is similar to a service offered in the EU, which faced regulatory scrutiny under the digital markets act. The European Commission fined Meta €200 million for not providing a less data-intensive free version of its services [3][4]. Compliance with UK Law - The UK's Information Commissioner's Office (ICO) has welcomed Meta's move, indicating that it aligns better with UK law regarding user data and advertising practices [5].