shares of Meta hit all-time highs today. One potential headwind could be a slowdown in T-moose growth.

The Chinese e-commerce app, one of Meta's biggest ad buyers.

Dear Djibosa, following that story for today's Tech Check, Katie. your job

following that story for today's tech check.

Kady.

Hey Leslie, so these discount shopping apps,

you named one of them Timu, there's also Sheehan.

They, as you know, have caught on like wildfire with American consumers when they first

launched here a big part of that was the billions of dollars in

advertising that they spent to entice consumers much of that at Meta and

Alphabet in fact according to the journal, TIMU was

met as top advertiser by revenue in 2023 and a top five

ad spender at Google. Now though the honeymoon seems to be over that could

impact core ad growth at those two tech giants just as they're

hitting highs in the case of meta. New data from Barclays on thousands of

T-Mus spenders point to weakness. New buyer activations well off of its peak and back at early

2023 levels. This chart shows that the number of new shoppers

it's nearly half what it was less than a year ago. Last week shares were also hit by a White House plan to restrict

the use of a trade exemption that has helped Chinese e-commerce apps like T. Moo and Sheehan ship packages

to U.S. consumers duty-free. Parent company PDD also facing huge amounts of competition,

fiercer than ever competition in its largest market of China

and a potential slowdown there.

...