The Radical Plan to Put TikTok in Your Hands

Small Steps Vol. 107: Billionaires plot to end the weaponisation of private data 🤖 ; Google faces a big break up 💔; and the omnivore's climate dilemma 🌱.

What we’re thinking about 

👨‍💻👩🏽‍💻📱 The people’s bid to own TikTok. In March this year, the Biden Administration passed a bill that would give TikTok’s Chinese parent company ByteDance until 16 January next year to divest its US arm or face being banned in the US, on the grounds of the risk the platform poses to US national security. Now, as TikTok fights back, a billionaire-backed “people’s bid” to buy the social media platform in the US is gaining momentum. 

Project Liberty is building a consortium to buy and rebuild the platform to “put people in control of their digital identities and data” and “end the weaponising of private data”. The vision is for TikTok US to be governed democratically by its users, so people have choice in the recommendations and algorithms they’re exposed to.

This potentially seismic shift toward using tech to build trust and away from TikTok’s notoriously opaque black box algorithms could be a key step toward enabling a more democratic digital landscape, and we’re waiting to see what happens next with baited breath. 

💔 Could Google be breaking up? Two weeks ago, a San Francisco judge ruled that Alphabet’s Google has illegally monopolised the internet search market. Now, the US Department of Justice is considering breaking up the tech giant, potentially by forcing a sale of the Android operating system, Google’s ad search program AdWords, or the Chrome web browser.

While some suggest this could be very hard to actually pull off, as litigation moves in years while the tech sector moves in days and months, it represents a significant moment in the ongoing debate about Big Tech’s market dominance and control over consumers’ lives. Read more here, here and here. 

What could this mean for startups? According to TechCrunch’s Equity podcast, if Google’s current means of maintaining its search market share are forced to change, the search market stands to become a lot more competitive. This could change where startups advertise and how much those ads cost – for the better. If remerging rivals lead to search results that surface organic information rather than paid results, startups may be able to get their message out there without having to fork out their hard-earned cash 💸. Listen here. 

New paths

🧠 Mindset Health is hiring a Growth Product Manager and a Content Writer & Producer (Melbourne).

🔋 Amber Electric is seeking a Senior Product Manager (Melbourne).

🧻 Who Gives A Crap is on the lookout for a Logistics Operations Manager (Melbourne, Remote).

🔥 Want to work for an impact company? Fill out our expression of interest form for roles across our portfolio. There’s even more jobs at ethical companies on the global B-Work job board.

For the road

🦻 AI-powered real-time hearing aids. Switzerland’s Sonova has launched a hearing aid that uses real-time AI to improve the volume of speech amid background noise. It comes as incumbents in the industry see falling profits on the back of stiffer competition and innovation. 

🥩 The omnivore’s climate dilemma. Consumers are starting to choose their meals based on emissions and environmental impact, but it presents an interesting problem. Choosing meat with a lower environmental impact, like chicken or fish as opposed to beef, can be worse for animal welfare. This often comes down to animals raised in poorer conditions having a lower land and carbon footprint, making it a difficult dilemma to navigate.

Image sourced here. 

🤰🏻 Private maternity wards may not exist by 2030. Lowering birth rates and rising insurance costs may pincer private birth clinics out of existence over the next 10 years, health experts say. It’s raised questions as to what this will mean for expecting mothers in Australia and the burden this will place on the public health system. 

👠 The high heel curse. While the idea of a corporate dress code may feel outdated, they’re still more common than you may think. When it comes to companies mandating that women wear heels to work, it turns out that there’s just no winning. Research shows that women wearing high heels in work settings — including negotiations, leading a class or presenting at meetings — are viewed by people of all genders as less competent and capable than women wearing flats. That feels like a raw deal to us.

✈️ Air New Zealand dumps carbon intensity reduction targets. The airline has scrapped its 2030 goal of further reducing its carbon footprint, citing plane delivery delays. It has raised a broader question about decarbonising travel. With fuel and energy solutions few and far between, and costly to implement, can the airline industry continue to grow in a sustainable way? 

🪸 Giant clams could be the secret to solar energy efficiency. No, that’s not a typo. According to a recent study from Yale, iridescent giant clams living near tropical coral reefs are far more efficient at converting energy from the sun than any existing solar panel tech thanks to their specific geometry and movement. Yet again, nature holds the key. 

💚 An explosion in Australian B-Corps. The number of companies opting to become a B-Corp – a corporation that focuses on environmental and social good – has exploded since the pandemic. The total number of companies attaining the hard-to-acquire status in Australia grew 36% in the past year. B-Corp Australia and New Zealand CEO Andrew Davies says its a follow-on effect from major corporate shaming events, such as the Banking Royal Commission, which wrapped up in 2021. 

👐 The ABC leads the way on global panic attack awareness. Last week, ABC Breakfast weather presenter Nate Byrne had a panic attack on-air, in the middle of a weather read. What followed was one of the most heartwarming pieces of TV this year, where his fellow presenters took over from Nate without hesitation, and then went on to explain his history with panic attacks – which Nate outlined in an article in 2022. The clip has gone viral globally, bringing about a positive discussion on mental health in public, high pressure roles.

☕ Need 5 coffees a day? Blame your genetics. A new study has pointed to a link between your genetic heritage and your coffee drinking habits. The main discovery is that your genes actually determine how your body processes and metabolises caffeine, which in turn may affect how many coffees you feel you need. 

Save the date 

📅 August 28: Applications close for the Australia Economic Accelerator. AEA Ignite grants support early-stage research commercialisation through competitive grants of up to $500,000. Open to startups at the proof-of-concept stage for businesses involved in AI, critical and strategic minerals processing, quantum computing, digital agriculture, sustainable fuels and advanced manufacturing. 

📅 August 31: Applications close for the KPMG Private Enterprise Global Tech Innovator competition. This competition is an unrivalled platform to profile your business. Get international exposure, validation from tech industry partners and potential investors, and mentorship and guidance from KPMG advisors to help your startup. Definitely one to check out!

📅 September 4: Investor Week Impact Investors Pitch Night in Sydney. Come pitch to our Investment Associate Katarina, alongside other leading climate investors, at Greenhouse in Sydney as part of Investor Week – use the code COMMUNITY FRIENDS  for 20% off tickets!

📅 November 21: The ARENA and Innovation Bay Showcase. They’re currently canvassing rolling applications for climate tech companies to present at their annual event to over 100 investors. Applications close when the event fills up, so get in quickly if interested. 

💰 NSW-based startup? Apply for the MVP Ventures Program. This NSW Government-run program helps startups through the commercialisation phases with grants up to $3m. Read more about the guidelines and deadlines here.