Tik Tok lawsuit

[Victoria Raverna]

Deepseek caused Nvidia and other stocks to fall in price. Wiped over 1 trillion dollar so far.

[hepcat]

Now if we can tank bitcoin mining, maybe we can all afford a new video card this summer.

[Smoove_B]

Good news everyone:

U.S. President Donald Trump signed an executive order on Monday ordering the U.S. Treasury and Commerce Departments to create a sovereign wealth fund and said it may purchase TikTok.

...

Trump has said that he was in talks with multiple people over TikTok's purchase and would likely have a decision on the popular app's future in February.

[stessier]

Can he do that without an act of Congress saying to do that?

I guess one positive coming out of this is that I'll have a more theoretical understanding of what is/is not (or maybe was/was not) possible.

[Smoove_B]

Can he do that without an act of Congress saying to do that?

Just to clarify, you're asking about the creation of a sovereign wealth fund? Or was this comment about literally anything else that's happened over the last 14 days?

[stessier]

Can he do that without an act of Congress saying to do that?

Just to clarify, you're asking about the creation of a sovereign wealth fund? Or was this comment about literally anything else that's happened over the last 14 days?

Specifically the sovereign wealth fund - but point taken.

[Blackhawk]

Where else will the sovereign get his wealth?

In any case, the plan seems to be to make all media state media. It'll sure simplify getting rid of all those pesky facts.

[hepcat]

I was under the impression that the problem was not buying Tik Tok, it was that Tik Tok's owners did not want to sell?

[$iljanus]

But I don't want to buy TikTok. I want to invest in more infrastructure stuff...like water parks and such.

I noticed that Norway had a sovereign fund to invest excess gas and oil revenue. They're a stable democracy so I read up a little on it. They have all sorts of checks and balances along with ethical guidelines for investing. Even so there are concerns that were pointed out in the wiki article and let's face it, I don't think the US is going to run such a fund ethically or even responsibly. But I'm sure various "friends" of the current president have all sorts of advice on managing said fund.

[hepcat]

My guess is that soon after it's created, the sovereign fund will be used primarily to purchase NFTs of Trump dressed as a cowboy.

[Smoove_B]

Apple and Google have restored TikTok to their app stores.

Because apparently nothing matters anymore.

The moves come after Bloomberg reported that Attorney General Pam Bondi notified Apple and Google that the new law would not be immediately enforced.