Finance Knuggets

Apr 28, 2024

I recently learned about the ASEAN Future Forum that took place in Vietnam, which focused on regional diplomacy and geopolitical significance. The forum covered various topics, including deepfake fallout, new critical minerals pact chatter, investment attraction wars, and the development of the biggest chip facility. The aim of the forum was to shape conversations about ASEAN’s future and regional growth, highlighting Vietnam’s active diplomacy and efforts to address ongoing challenges in the region.

Additionally, there was a discussion about the acquisition of LGBTQ+ dating app Grindr from Beijing Kunlun Tech by a group of investors in 2020. The acquisition was aimed at severing connections to China and establishing full American decision-making over the company, serving as a reference point for the potential divestiture of TikTok if ByteDance decides to sell off the app. The importance of keeping data secure and free from foreign influence was emphasized, particularly after reports of Chinese access to U.S. user data.

The news highlights the significance of regional diplomacy and the need for secure data practices in the digital age. The developments in the ASEAN region and the acquisition of Grindr serve as examples of the ongoing challenges and efforts to address geopolitical and technological issues. The fate of TikTok in the U.S. remains uncertain, as the company plans to challenge a new law that could potentially result in its shutdown.

The potential ban of TikTok in the U.S. has implications for both the company and its users, as some countries have already banned the app, leading to users migrating to alternative platforms. The situation with TikTok continues to unfold, with potential implications depending on the next U.S. president and the company’s decision on whether to sell the app.

Stay Well!