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Marketplace All-in-One

Tech Bytes — Week in Review: The TikTok ban, the end of noncompetes and Sony’s EV

Marketplace All-in-One

Marketplace

News, Business

4.51.4K Ratings

🗓️ 26 April 2024

⏱️ 11 minutes

🧾️ Download transcript

Summary

The noncompete clause is dead! American tech workers are poised to benefit from the Federal Trade Commission’s new crackdown on the agreements, which prevent a company’s ex-employees from working for its rivals for a specified time. Also, Tesla’s profits crashed 55%. As electric vehicle sales sputter, we wonder why more players are still speeding into the space. But first, TikTok’s top executive was defiant after the passage of a massive foreign aid package that included a directive to the company: Sell to a U.S. buyer or get banned. Marketplace’s Lily Jamali is joined by Paresh Dave, senior writer at Wired, for his take on this week’s tech news.

Transcript

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0:00.0

Big Tech employees score a big win in Washington.

0:05.0

From American public media, this is Marketplace Tech.

0:08.0

I'm Lily Jramale. The non-compete clause is dead and American tech workers are poised to benefit from the Federal Trade Commission's

0:25.0

new crackdown on the agreements which prevent employees from immediately working for competitors.

0:31.1

Then Tesla's profits have, pick your favorite car pun here, crashed 55% are no longer in overdrive, so many to choose

0:39.7

from.

0:40.7

As electric vehicle's sales sputter, we ask, why are more players speeding into the space?

0:46.8

Okay, I think we're done with the puns now.

0:49.0

But first, Tik-Tok's top executive was defiant after the passage of a massive aid package that included

0:55.8

a directive to the company.

0:58.0

Sell to a US buyer or get banned.

1:00.8

Here's what CEO Shao Zichu had to say.

1:04.0

Rest assured, we aren't going anywhere.

1:06.4

We are confident and we will keep fighting for your rights in the courts.

1:10.4

The facts and the Constitution are on our side and we expect to prevail again.

1:16.0

Parent company Bight Dance has nine months to comply, although the President could extend it to a year.

1:22.0

Wired Senior writer Pireche Dave says The president could extend it to a year.

1:22.5

Wired senior writer Paresh da Vae says Tik-Toc is expected to sue.

1:27.1

They can sort of copy-paste from their lawsuit that they battled in Montana,

1:32.4

where Montana tried to ban it and they made sort of

1:35.4

these free speech arguments on behalf of users in the company before.

1:39.3

Yeah, I mean let's talk about some of the reaction coming in, including what you just mentioned about the free speech argument.

...

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