Snap shares plunged more than 40% and sparked a sector-wide selloff on Tuesday after a profit warning from the Snapchat parent signaled tough times ahead for the once-booming digital ad industry.
According to the Wall Street Journal, ByteDance-owned TikTok CEO Shou Zi Chew reportedly sought advice from Elon Musk on U.S.-related matters. Musk is serving as a close advisor to President-elect Donald Trump.
The Australian government has withdrawn a bill aimed at regulating the spread of misinformation on online platforms. This bill proposed fines of up to 5% of global revenue for platforms failing to curb misinformation.
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