TikTok goes to Washington

Another Mission: Impossible is dropping later today – though in this version, Tom Cruise looks a little… different. At 10 am EDT, TikTok CEO Shou Zi Chew will begin testifying before the House Committee on Energy and Commerce, as the fate of the social app’s existence in America hangs in the balance.

The hearing will focus on three main issues:

1. TikTok’s consumer privacy and data security practices
2. How the social media platform affects children
3. The company’s relationship with the Chinese Communist Party

And much like grilling at altitude, the stakes (steaks) are high. Last week, the Committee on Foreign Investment in the US notified TikTok that it faces a nationwide ban if its parent company, ByteDance, doesn’t sell its US holdings. The warning followed three-plus years of negotiation between the federal government and TikTok over national security concerns.

👀 Looking ahead… According to prepared testimony released ahead of today’s hearing, Chew will try to assuage fears of Chinese influence by announcing a new company to handle all US user data, which will report to an independent American board “with strong security credentials."

He also plans to warn Congress that banning TikTok would hurt the ~5 million US businesses that use the app to reach customers, and would “silence the voices” of the 150+ million Americans who currently use the app each month (up from 100 million in 2020).