Top Wall Street analysts have compared using the Chinese social media app TikTok to the “incredibly addictive” nature of crack cocaine this week, Business Insider reported.
A Bernstein research note called “Has TikTok ruined the internet?” said the bite-size video app has replaced “the friction of deciding what to watch”, with a “sensory rush of bite-sized videos powered by a Chinese-owned, black-box algorithm”, said the report. This is similar to crack’s effect on the body, which it said is “instantaneous but wears off quickly, driving the user to seek another ‘hit’.”
Read the full report: Business Insider.
A US District Judge said the former billionaire wunderkid was responsible for one of the…
Banks have been reluctant to deepen their exposure to the ailing real estate sector but…
US intelligence officials say Chinese pharma companies are risking national security at a time when…
BYD has set back plans for an EV factory in Vietnam, while CATL has said…
US Treasury Secretary Janet Yellen has accused China of ‘distorting prices’ with its increased green…
Japan’s plunging currency and the threat of BoJ intervention sent Tokyo’s soaraway benchmark downwards