Venture investors, U.S. lawmakers join forces to fight Tiktok & Chinese influence: WSJ
Summary
A star-studded array of Silicon Valley venture investors have joined forces with a bipartisan group of U.S. lawmakers as part of a working group that has one aim: Combatting Chinas influence in the U.S. technology industry, the Wall Street Journal reported Friday. The consortium is named the Hill & Valley Forum, the Journal reported, a nod to the groups bicoastal origins. The Forum will host a dinner ahead of TikTok CEO Shou Zi Chews Congressional testimony next week, with speakers including prominent venture capitalists Peter Thiel and Vinod Khosla, the Journal reported. The Committee on Foreign Investment in the United States, or CFIUS, told ByteDance that unless the companys Chinese owners divested from their stakes, CFIUS would move to ban the app, the company told CNBC on Thursday. The ultimatum came weeks after lawmakers urged the Committee to complete its yearslong probe into TikTok.