now this is a question asked by many social media companies as i try to emulate that success. you have youtube shorts, instagram reels, facebook real snap tack has spotlight pinterest has watch. but none of them have been able to duplicate tech talks dominance. i'm 50 i'm, you're watching the cost of everything. where today we're going to be taking a closer look at pick talk and the true cost of being a social media giant. the tick tock was the most downloaded app in the us in 2021. and in 2022, according to app toby, a, it bows more, the 1900000000 users on a short video sharing platform. and then 6 short years. tech talk has when the world of old fashion, social networking and got it hooked on algorithmically selected short videos. last year, tick tock made $16000000000.00 and us revenue gen the women in particular are driving

spending trends on tick tock. women in their twenties spend more time on tick tock than male piers of their generation, and are using the platform to set the tone in narrative for what's hot online. many influencers post coal video showcasing products that they recently purchased, often from a specific brand. these videos are combined with reviews and discount codes, often having a significant influence on how the young generation spend this money with a hash tag. tick tock made me buy it gardening more than it's 1000000000 views. pretty good. but the reason why tech talk is so valuable is because it is a leader with the highest engagement rate per pose compared to any other social media platform. the average person spends more than 2 hours each day on tick tock, and nearly half of generally are utilizing tick tock and instagram for search purposes. instead of google search engines. 33 percent of these users claim that

they use take talk to regularly gain updates on the latest news from the app. to now take down the differs from other social media apps because an individual speed is not based on deliberate choices made about the content that they want to see. instead, a, i present individuals with content and use their reactions to it in the form of likes, comments, and re shares to determine other contents that they might like. this facilitate a continuous cycle that starts from the 1st views and becomes increasingly accurate with repeated engagement. but with its growing dominance comes more scrutiny, congress has finalized legislation that could be to a nationwide tech top band. law makers have claimed that tick tock poses a national security risk. although there is no real evidence of this. this bill would give bite dance 270 days to celtic talk, and failure to do so will lead to take talk being prohibited from us app stores and from internet hosting services that support it. it would effectively restrict new

downloads of the app. those opposed to those have concerns that it would violate the 1st amendment rights as well as have feature rep, if occasions a tick tock band or for sales would set his sport precedent. that could disrupt not only the us media eco system, but the concept of private businesses for years to come. this move would open doors for other countries to use the us as move as a basis to force us companies to sell their local operations or to transfer the technology to a foreign firm. bills designed to band tick tock, give the federal government to much on check power to ban apps, which may have unintended consequences for the internet. freedom in the long term, in any case, selling is not even an option because china already has export regulations in place to prevent the technology from being exported or sold before this bill was even introduced by fans cannot sell. china like the u. s. has certain trade restrictions and one restriction is that they cannot export technology. this bill was never

introduced as an option to divest or get banned. this bill was introduced to band tick tock and make it look like it was the result i'm not divesting the reason why it's so our congressman and leaders won't get blamed for banning tech talk. and instead we can blame china or tech talk for banding themselves. when in reality, they already knew full well that they could not even sell before even introducing this bill as a viable option. but unfortunately, this is a little coming, in fact that mainstream media is omitting so that people will only blame tech talk from fanning themselves if it comes down to it. and now today we're joined by scott, show our president and ceo of berkeley very tronic system. so now what is the economic significance of tech talk both globally and within the u. s. in terms of revenue generation job creation and digital advertising. but i think 1st law is thinking about tick tock. it's become kind of a global phenomena. it's

a huge organization. now where there's well over a $170000000.00 active users and there's about $7000000.00 plus businesses alone that use the tick tock platform. so that being said, we, we helped, we're help to appreciate how big and economic impact can actually have effect. i was reading a very interesting report earlier, it was from the oxford economics, and it was a study just on tick tock. and they said that tick tock drove over 14700000000 in revenue in about a dozen key different areas and towards the us economy alone was like 24 point in 2, billions towards the g d p just in 2023. so it's, it's an amazing amount of, of revenue and effect, it has just on the economy, especially here in the us. and it's interesting just the, the digital ad spend, which i thought was kind of amazing in contrast to its competitors. you look at like, like facebook and instagram, tick tock is now number 3,

that's pretty amazing. above that of youtube. so people are really spending money on the platform to digitally advertise to promote perhaps their brand or small business, even larger businesses as well. and uh, one other fact that was interesting, the claim there was about 224000 jobs, that tick tock created as a result from this giant explosion in the platform. so definitely they have a great economic impact within the united states and really globally. and how does take talks presence in the social media landscape impact competition among other platforms such as facebook, instagram and snapshot? oh, yeah i, i think about, took talk. they've had a tremendous effect against their competitors, and they're all getting nervous. certainly because there's a shift in, in number of users that are moving or migrating over toward tick tock platforms, especially younger demographic. i think that's important to realize in this, that generation z and mostly in part because of the short form video content. and

that's really appealing and attractive to users. people don't have time to watch a big, long drawn out videos. maybe as they put up with or did like in the past, they want short, punchy, fun videos. and i think that's really attracting that shifting user base. and they're really accepting that no other platforms obviously see the success and that you look at like instagram. and they put reels out, and facebook kind of imitated also. the feature called last so and the snap chatted a little bit different route. they went with some of their, their a, our features they wanted. diffraction differentiates themselves a little bit. everybody's trying to find their sweet spot or whatever, but they're kind of starting to follow tick tock, which i think is really a powerful fact that shows that they have the influence. they have the power and these are the big giant, social media companies. their follow me take talks lead, so that tells you they're doing something right. for sure. can you discussing

unique features or user demographics that differentiate, take talk from its competitors and contribute to his popularity? sure. now there's a couple differentiators or things that help keep talking. the lead, i think, in the kind of mentioned earlier, short form video content. and again, those are short forms when i say short form somewhere in that 15 need to 62nd to go i can't think of wayne. so i should say 61560 seconds link is an ideal form for short form videos, and that's what we want to keep in mind. and that's what you're gonna know. it's more more platforms are kind of compressing their video. so it's that short form. but, but kicked off with a something else very interesting and i probably differentiator that others are trying to figure out or copy. it's really, their algorithm is the, the for you page. and the algorithm is one of their key factors. i think that allows them to continue to be successful. and what's really doing is kind of like in a sense, getting into your mind just a little scary, but it's analyzing the user's behavior. what do they like?

what do they share with their friends in co workers? do they comment on certain things? it's really taking the aggregate of all of that. and really giving a personal, customized, tailored. however, isn't that, that steers things toward the user. and that gets sent to engage even more, and that's what it's all about when you have content and you can get people to engage. they get excited and what happens, they spend their time on the platform hands the, the value of the platform goes up as you can advertise, and really push that towards the toward toward the charges and make big, big dollars. and that's exactly what they're doing. they're leveraging that very effectively, i think, and that's really the differentiators that, that algorithm. and then of course, the sponsorships and branding, as i start to see more more people talking about that they're finding ways to monetize from the use of tick tock platform. despite the talk of all the banning and potential risk of disappearing as a platform they're,

they're growing their brand very quickly and they're monetizing it making some decent money far more than they were able to successfully do on other social media platforms. and that, that's going to really help them now on those tactics. and they said, well, this way, i mean, if it's fair to do it, the other social media companies are doing the same thing. just maybe not as effective. personally, i don't use to talk, i was on the platform, i used it i, i saw the appeal, it's attractive. so i, when i started seeing the, the downside risk from a security perspective is kind of, i'm the world of cyber security. i'm concerned, i think there's an overreach there for the potential for an overreach. so for myself and my family, we remove tick tock for more devices. and i'm not saying people should go to that per se, each person needs to make their own informed decision based upon their needs, i think. but, but people shouldn't put out of the conversation. is it just?

what's the big deal? i have nothing to hide, that's what a common thing i hear from people. what's the big deal? and what they don't realize is, what are the possible problems that i could do? what is the door open when you use a platform with tick tock or other social media ask for that matter as well? so i think you have to always be careful with making informed decision. i always joke around and as people have you ever read the terms and conditions when you downloaded the app and they all laugh and say, no, of course not. i don't have the time to read all that. if you took your, your mobile phone and looked at all the apps that you downloaded and actually read the terms and conditions, it would take you bellow over 3 months to actually read the. there's that much fine print that, that we can't see. and that we ignore and we're so excited with an app where we don't download, download, download, we start using it so on so forth we, we have so many things and that to me is very concerned. and that's what we have to watch out for. thank you. so much scott, but please stick around. our media expert would stay with us right here after the

break. and when we come back, how social media platforms like take talk are becoming e commerce travels to amazon. i'll have more after the break, the lease of come to the russian states. never as tight as i'm one of the most on screen and the best. i'll send, send up the consumer must be the one else calls question about this. even though we will fan in the european union, the kremlin media machine, the state on the russians per day and split the ortiz full neck, even our video agency, roughly all the band on youtube tv services. what question did you say

from stephen twist, which is the and not only is picked out dominating the social media space. it is now taking on amazon the e commerce drug or not. tech talk a search the e commerce with his tick tock, shop feature loading user speeds with options to buy directly from influencers without ever leaving the app. it is a full service integrated marketplace where people can buy things with only

a couple of taps on the screen and less than 6 months since it's launch in the us. it's been selling about $7000000.00 worth of stuff a day in the us. bloomberg reports that it ends to reagan as much as 17500000000 dollars this year alone in the us. like in scriven facebook, tick tock has always featured ads, but the transition to shopping brings key differences. instead of being re directed to brands web page or to amazon, people can go directly into the in at marketplace. this means that tick tock controls the flow of money. take tasks primary advantage live and its ability to blend entertainment with shopping. this makes shopping experience more engaging and less transactional, which can attract and retain younger demographics gender years are also not particularly be mindful about consumption. so for many young people, online shopping has become not just a hobby, but

a distraction from the stress of life. take talk also, leverage is the power of influencers and social proof where users rely on recommendations from influence that they trust which can lead to impulse purchases and trend driven sales. and unlike amazon, where users often search for specific products, take talk introduced as users to products through creative content making discovery, spontaneous and enjoyable. and just who is doing the selling has also changed. instead of an ad coming from a brand social media account, it's increasingly common to see an individual content creators selling their own products. many analysts think that tick tock has the potential to disrupt the industry. and amazon is going to have a major competitor like they've never seen before. and so for this in more or less bringing again, scott shelburne, president and ceo of berkeley very tronic systems. how do users engage with take talk as a social media platform? and what role does it play in building communities foster and creativity and

promoting cultural exchange and expression? i don't know, social media contributes that much to really hoping to be honest. i looked at all the platforms and, and there's some good and i think from a content standpoint, they do provide education. there's tips, there's a lot of news that comes out of it. most of the stuff that i've observed and seen on tick tock. but and again, people be critical because maybe my age, i think it's kind of silly. it doesn't contribute that much to the better good of humanity maybe puts a smile on our face. isn't that that's good in itself. perhaps. there is some propaganda that's been spread. there's some manipulation of the news and the headlines and the videos tend to give this slander that slant. and that's true of all social media. i'm not just picking on the tip top, but in fairness, i've seen biases and also for media. so i think each person has to be very careful and it's important to really spend time making a decision. where are you spending your time? especially younger people,

because they're more influential in their decisions. and as they're being taught by social media, as general in a general sense, i think that's danger. released teaching should come from schools and most importantly from their parents. so parents aren't spending the time, they allow their kids to go off in the world with social media that they're going to have a rude awakening when their kids turn out kind of crazy or extreme opinions. because social media is starting to shape the younger generation, like never before my generation, it was games and the target games were addicted and stuff. and that to, to, to, to much extend is probably dangerous to someone could argue. but it was something that you did with your friends, you engage with that was social and you talked about it and enjoyed it. and maybe to some extent, today's generation be it snapshots. instagram are certainly tick tock. that's how they're engaging through that. but whenever i look around in a classroom or an event where there's a lot of kids and especially teenagers, their heads are all done doing this to glued to their phone. there's not much

communication that concerns me and i don't think that's good for really the entire generation. it does affect a pretty wide swath because you don't have to be a teenager to use a tech talk to you can be an adult. anybody can use it pretty much, but more and more of the demographics of it, the younger ones really gravitate and they loved the short videos and i think that's a, that's going to continue for awhile. how does take taught experience in different countries and regions and form its approach to content, moderation, user engagement and regulatory compliance? i don't think it's that there's not enough moderation there. and somebody behind the curtain, making sure the right things are set are not said a lot of the algorithms they try to do. it's automated to prevent the wrong thing or hate speech or violence that there was a story i read about earlier this morning. it was very tragic. a mother i guess was a walk in or something to our son who was on fire. and he was doing some type of tick tock, challenge with rubbing alcohol and half of his body was burned and he almost died.

so sometimes the wrong message can be put out on social media, and he would hope that the children and teenagers, young adults, all would have enough sound as of mind and common sense not to take on these challenges. but sometimes peer pressure is extremely powerful, especially through social media because a lot of people want, they want to garnish a number of followers. they feel that's part of being liked or accepted in society . and unfortunately, just because you have thousands or tens of thousands or millions of followers really doesn't equate to much them. in my opinion, what's really more important is having good friends, close associates, that you can counts on any the trust or any value their opinions that unfortunately is not seen on social media. everybody's free to express how they feel, and they get squashed somebody's opinion. they could talk over them,

they could make fun of them, they control them. so there's, there's, there's, and unfortunately there's more negative signs and negative implications of using social media, unless you're very careful how you use it. and i think that that's what younger ones, especially, really need to appreciate, i guess older ones too, because all of us probably spend too much time on social media. that's not good. so let's get a little more balance. i think needs to come into the picture. and how does the public perception of take touch privacy practices, data security measures, and corporate governance, impact consumer trust and brand reputation? but i do have to say they don't think the consumers as a whole have any clue about the security implications of tick tock on their devices. people i talked to their i, i don't really understand. and i think fundamentally they have to appreciate what it comes down to is you, as a consumer user, have to decide what you will want to allow the company that you download the app

onto your phone, what permissions you want to grant them, what you want them to use, do you want them to have access to your microphone? your pictures, your browsing history, your contacts, your searches, your legs, your comments is the culmination of all of that data, the big data and the meta data, which is data that closely mimics human is about you that really is personal in your to dear to each of our hearts, but we don't associate a price to it, per se. now if you look at an advertiser, they will pay top dollar for what you type into a search. when you go onto a search engine, or you type into your browser or something specific that you're looking to, in some cases 2030 different companies are paying money for what you type it and, and it's a small amount of money. but the aggregate does that makes companies like google and facebook and all these other social media giants,

tons and tons of money. they're selling your information, they're selling what's near and dear to you. and that's part of the fundamental problem i think. so not understanding the privacy laws and the implications is really at the heart of the matter. i think unfortunately, when congress gets involved in senators and the politicians, it is a kind of muddy the waters and take very hard stands. and most people, unfortunately, especially i know in the united states, don't trust the politicians. so when they're trying to say, hey, we're doing this for the go to consumers and the american people protecting your data. i don't think americans really fully trust them. now i'm not saying that they fully trust the chinese government either, but i think there's just an oil around this trust for governments across the board and politicians. therefore, you almost need to get that out of the equation and realize tick tock is trying to build their brand and they're focusing on trans parents. parents either focusing on

security of data and privacy and the talking about all those things. also is every social media company, and eventually if they don't talk about that enough or so, the american people, hon. it, then they're going to be fine. what company finds google is faced in facebook is faced and all of the scandals they've been involved with, where they've spent upwards of hundreds of billions of dollars. if you look at the aggregate of all the social media companies and you know what, they don't care why, because they're making so much more money than that. and that's what i think we can't missed a fine of a couple of $1000000.00 here. and 50000000 there really doesn't affect their bottom line because they're selling our information. they're selling us in our likes and everything else. and, and i think that's what we're giving away as a people, as a consumer, we have to be careful how much we're so free to give away. and that, that's a mistake, i think. and it's going to eventually catch up with all of us. and you'll know

quickly when you, if you've ever had your identity stolen, i've had it, it's a nightmare of my credit cards, compromised my debit card, compromise my twitter account hacked. we had $65000.00 stolen from our company checking account. i'm often targeted for things, even though i'm in the world of cyber security. nobody is safe. so now when you freely open up what you're giving away to other governments on the other side of the world, as you can expect, this is going to continue to happen. and the digital world that we all live in is going to get a lot more dangerous and a lot less safe for all of us. so scott, what are the potential outcomes or scenarios in the social media world without take talk? what about the stakeholders, and are they prepared against the risk associated with tick tock, not operating in the us? well, i do think what's going to probably happen is there's going to be enough people. people will take 2 social media and they're going to fight. and then they're gonna go to the lobbyist and congress, and everybody else and make

a big stink. and they're going to say, hey, you're hurting my business. you're encroaching on my freedom of speech. you're, you're stepping on my rights and who are you to tell me if something's private or not private or secure or not secure. so i think it's gonna cause a lot of conversations and there's gonna be a lot of very upset people. and i don't think it's going to be a 170000000 people. it's gonna be a certain course, some small percentage, maybe it's 510 percent of the actual tick tock users that are going to be extremely upset. the majority of others will migrate to another platform and adjust just as any other company. maybe when they went out of business they've, they're going to do that naturally and they're going to re adjust and re focus on that. and that's ok. it's a smaller percentage where it really does affect their livelihood and their business model that are going to be upset and, and they're going to are going to recap it on the, whoever they could, and really take a stand i think. and that may have larger implications, not just on taking it on social media companies, but really on the politicians,

depending upon which side they stand, which is kind of interesting, be a, it's an election year. how social media is read into the fabric of the political society now in the united states. thank you so much, god, for all your time today. to the ingenious design of tech talk is that it is designed to function a lot like a slot machine. the swipe down feature required to refresh once the mirror is a pulling of a slot machine lever, and the variable pattern of reward in the form of entertaining videos stimulates the intermittent reward pattern of winning or losing on a slot machine. this pattern keeps the individual engage under the impression that the next play might be the one. well, it is a brilliant design. this means that tick tock is winning when it comes to your time and attention. social media is a great tool and allows people to unwind after a stressful day. but at the same time,

it can also be effective and have negative consequences for mental health, such as fomo. when one compares their own lives to the perfect ones, seen on tick tock and well take talk shop is also helping to launch small businesses and help sales. unfortunately, it is also causing the younger generation harm by facilitating impulse spending an addiction towards social media. so like most other tools take talk can be a great asset or a destructive habit. a, i'm christy. i, thanks for watching and we'll see you right back here next time on the cost of everything the the,

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the big 3 day celebrations kicked off and russia eastern reason that the main parade in moscow, the surface starts in 2 hours, all that coming up in our special coverage. meanwhile, you praying appear to have its own vision of celebrating the victory over naziism by striking residential areas of the russian city of belgrade. the and the us has suspended the shipment of some american weapons to israel acknowledging for the 1st time the bombs are killing innocent civilians in guns. civilians have been killed in gaza. consequences of those palms and other ways in