Election misinformation, national security concerns thrive on TikTok - August 15, 2022

Executive Leadership Briefing

Saudi energy company Aramco reported a 90% jump in second-quarter profits compared to last year, boosting earnings to $88 billion to propel the country’s geopolitical power. Aramco’s performance demonstrates how the war in Ukraine and the resulting surge in energy prices have boosted petrostates while the U.S. and Europe face recession fears. Crude oil prices rose more than 36% to nearly $120 a barrel from February through June, prompting major oil companies like Exxon Mobil, Chevron and Shell to record record-breaking profits.

YouTube is planning to launch an online store for various streaming video services and has already engaged in talks with entertainment companies about participating in the Google-owned platform. The “channel store” will give people a way to purchase a la carte streaming services from the main YouTube app. YouTube is joining tech giants like Apple in an effort to create a one-stop shop for consumers to access all of their favorite media. Despite more media giants joining the industry, roughly one-fifth of subscribers to premium streaming services like Netflix, Hulu and HBO Max canceled upwards of three subscriptions over the past few years as consumers cut back on unnecessary spending.

A man crashed his car into a barricade protecting the U.S. Capitol early Sunday, firing shots into the air before fatally shooting himself. The Capitol Police later identified the individual as a 29-year-old man from Delaware but his motive remains unclear and no one else was injured. The incident comes at a time when law enforcement authorities are facing increased threats with federal officials warning about the potential of violent attacks on government buildings following the FBI’s search of Donald Trump’s Mar-a-Lago estate.

Research indicates that TikTok is shaping up to be a primary incubator for misleading and baseless information ahead of the midterm elections this fall. The platform’s enormous reach, short video length and robust algorithm have made inaccurate claims challenging to contain. National security concerns over the Chinese-owned video app remain unresolved as lawmakers and regulators recently called for a Federal Trade Commission investigation into the app. A new report found overlap between hundreds of employees at TikTok’s parent company and Chinese state media outlets, with at least 300 workers previously holding positions in Chinese state media.

An electrical fire ripped through a busy Coptic Orthodox church during Sunday mass in Egypt’s capital, killing at least 41 people including 15 children. The blaze blocked an entrance to the church, causing a stampede. Authorities ruled out foul play, but the Christian community in Egypt has suffered an increasing number of attacks by Islamic State militants, underscoring the need for improvements to security. Coptic activists have increasingly criticized the government for obstructing Christian rights. Accidental fires are also not uncommon in Cairo as Egypt’s poorly maintained infrastructure has suffered several deadly fires in recent years.

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