Catch Up With This Week's Startup News in Our Weekly Video Recap
Lots happened in the L.A. tech and startup community this week. In a rundown of the top headlines, Chief Host and Correspondent Kelly O'Grady takes you through the key stories:
- President Trump's Executive Social Media Order Could Mean Trouble for Snap, TikTok
- Startups: Furniture Rental Servie Fernish Raises $10M Series A, Bird Could Thrive Post-COVID
- Media: HBO Max Launches, Esports Giant FaZe Clan Plans Expansion
- dot.LA Convenes -- Challenges Women Face with Confidence in a Virtual World
dot.LA Weekly Recap: Exec Order May Hurt Snap & TikTok, Bird Trending Up, FaZe Clan Surges Ahead www.youtube.com
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- Catch Up With This Week's Startup News in Our Weekly Video Recap ›
- Los Angeles Tech and Startup Week in Review - dot.LA ›
- Catch Up With This Week's Startup News in Our Weekly Video Recap ›
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President Donald Trump told reporters he approved a deal in concept between Oracle and TikTok's parent company ByteDance in which Oracle and Walmart would partner with the app in the U.S. The move could avert the ban in U.S. app stores that was set to go into effect on Sunday.
<p>"I have given the deal my blessing," Trump<a href="https://www.wsj.com/articles/trump-signs-off-on-deal-allowing-tiktok-to-continue-u-s-operations-11600551352" rel="noopener noreferrer" target="_blank"> said to reporters at the White House Saturday.</a> "If they get it done, that's great. If they don't, that's okay, too."</p><p> It is unclear whether ByteDance will remain a majority owner of TikTok.</p><p>"It will have nothing to do with China. It'll be totally secure; that'll be part of the deal," Trump said. "All of the control is Walmart and Oracle, two great American companies."</p><p>But Trump said the company, now seated in Culver City, will likely be headquartered in Texas and bring 25,000 jobs. </p><p>He added that TikTok has agreed to donate $5 billion to an education fund, which Trump said would satisfy his demand that the government receive a payment from the deal.</p><p>"They're going to be setting up a very large fund," <a href="https://www.bloomberg.com/news/articles/2020-09-19/trump-says-he-s-approved-oracle-deal-for-u-s-tiktok-operations?sref=4Kf8RwDw" rel="noopener noreferrer" target="_blank">Trump told reporters. </a>"That's their contribution that I've been asking for."</p><p>Various outlets with reporters at the White House reported on Trump's sign off. It came after the president signed an executive order in August that called the viral social video app owned by Chinese internet company ByteDance a national security threat. It also called on the Beijing based parent company to sell TikTok to a U.S. firm or face a ban. </p><p>The administration accuses TikTok of sharing user data with the Chinese Communist government. TikTok denies the charges. </p><p>This week, <a href="https://www.nytimes.com/2020/09/17/technology/tiktok-deal-revisions-trump-review.html" target="_blank">the New York Times reported</a> that TikTok is hunting for a new CEO and that Instagram co-founder Kevin Systrom is being considered for the position.</p>
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I deeply appreciate David's approach to life and work. On this episode of LA Venture, hear Fleck talk about founding FreeFlow in order to invest in startups coming out of Caltech that have the potential to improve our world.
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L.A.'s tech and startup community was active as ever this week. dot.LA chief host and correspondent Kelly O'Grady takes you through the key points of the top five headlines:
- TikTok Plans IPO, Considers Instagram Co-Founder as CEO
- 'LinkedIn. Is. Not. A. Dating. Site': Should People Be Trying to Find Love on LinkedIn?
- Zwift Takes on Peloton with $450M Investment
- Flush with $87 Million, Boosted Commerce Prepares for Massive Amazon Shopping Spree
- An Early Peek at First Look's Showcase of Cutting-Edge Science Startups
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<small class="image-media media-caption" placeholder="Add Photo Caption...">Weekly Recap: TikTok may be banned, LinkedIn is being used for dating and Zwift raises funds</small>
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<a href="https://www.youtube.com/watch?v=LKfUUSAj_fM&feature=youtu.be" target="_blank">www.youtube.com</a>
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</p><p><br></p><ul class="ee-ul"></ul><p><em>Watch to stay smart on what is happening, and <a href="https://www.instagram.com/dotla/?hl=en" target="_blank">follow us on Instagram</a> for daily video content.</em><br></p>
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