TikTok Ban

Good morning! After a foiled assassination attempt in Florida, Donald Trump took to Truth Social to thank well-wishers, law enforcement, and the Secret Service on what he described as an “[interesting day](”. Today we’re exploring: - Connecting flights: United Airlines is teaming up with Starlink. - TikTok ban: America’s support for the app’s ban has waned. - Off track: NYC has a big bill to pay if it wants to upgrade its transport infrastructure. Have feedback for us? Just hit reply - we'd love to hear from you! TOGETHER WITH [Sponsor Logo](   Last week, United Airlines [announced]( it would start testing a partnership with SpaceX’s Starlink to provide passengers with Wi-Fi, following similar deals between Starlink and other carriers, such as Hawaiian Airlines, which rolled out complementary Wi-Fi earlier this [year](. Connecting flights Checking your emails at 35,000 feet is a remarkable feat of engineering. However, it’s a technology that’s older than many of us might expect, having been around since the early 2000s. The problem is that — even after 20+ years — checking your emails is often the only thing you can do, as the commercial offerings have typically struggled with poor latency. Starlink’s constellation of low-Earth orbit (LEO) satellites provide a dramatic improvement, at least according to [testing from the Wall Street Journal]( which found it could handle multiple streaming devices and offer download speeds of up to 150 Mbps. To achieve its goal of global internet coverage, SpaceX has been launching thousands of satellites into LEO. In fact, per data from Jonathan’s Space Report, first cited by [The Economist](, Starlink's active satellite count has skyrocketed, and now accounts for nearly two-thirds of all satellites in space. Its services have [been used by]( Ukrainian soldiers, by people in areas devastated by natural disasters, by remote communities in countries with less-developed internet infrastructure, and by terrorists. Starlink’s rapid growth has made it a dominant force, but its success has also raised concerns. The FCC is exploring ways to increase [competition]( in (the) space, but some fear that more satellite internet companies could worsen the growing problem of space junk (there’s a lot of stuff whizzing around our planet now). [Read this on the web instead](   This morning, a US federal appeals court will hear the case for keeping TikTok — almost 5 months after [the Senate]( voted overwhelmingly in favor of legislation which, at present, will see the popular social media app face a total nationwide ban if Chinese parent company ByteDance doesn’t sell its controlling stake by January 19, 2025. Tok of the town A three-judge panel in Washington DC will hear ByteDance’s appeal against the bill later today, where company representatives — as well as 8 TikTok creators — will try to block the law, per the [BBC](. Technically, three different legal challenges will be heard: one from ByteDance, one from creators, and one from a conservative nonprofit organization. The crux of each argument will be different, but each is likely to incorporate the issue of free speech rights for the app’s more than 170 million US users. Lawyers from the Department of Justice will then make the case for the ban, on the grounds of what initially led to the law’s passing earlier this year: concerns that data from TikTok’s US users could be [collected and exploited]( by the Chinese government, posing a national security risk. For what it’s worth, the public’s view on the issue has changed somewhat since then. A recent [survey from Pew Research]( found that support for the ban fell from 50% in March 2023 to just 32% last month, concurrent with a relative increase in those opposing the ban, which now stands at 28%. The idea of a TikTok ban has been kicked about the halls of Washington for years, first stealing headlines back in the summer of 2020 during President Trump’s White House tenure, before getting [dropped]( by President Biden in 2021... then picked back up by Biden again, who officially signed the ban bill in [April]( of this year. [Read this on the web instead](   [Sponsored by Sky Quarry]( Final Week to Invest Before Round Ends and Start of Planned Nasdaq Listing1 This problem-solving company is planning a Nasdaq listing1 – and you have [just a few days left to invest before their current unlisted offering ends](. With over 15M tons of waste asphalt shingles dumped in landfills each year, Sky Quarry isn’t working to just solve a problem — they're helping create a potential up to $4.4 billion market opportunity. Using proprietary technology, they transform discarded shingles into sustainable diesel oil, construction materials, and more, turning waste into value. They’ve already begun tapping into that with 211% annual revenue growth in 2023.2 And they’re not slowing down, with plans to produce [~2,000 barrels of oil per day]( at their flagship facility opening next year. The final day to invest in Sky Quarry’s current offering is September 18. 1 Sky Quarry intends to list its securities on a national exchange. Doing so requires exchange approval and then significant ongoing corporate obligations and compliance with applicable listing standards. For an investor to sell shares, first Sky Quarry needs to list on an established exchange, and then only unrestricted shares would be eligible for sale. The company has no control over the market price of their securities and cannot guarantee they will list on a reputable exchange. [Become a Sky Quarry shareholder ahead of their planned Nasdaq listing.3]( [Become a Sky Quarry shareholder ahead of their planned Nasdaq listing.3](   The Metropolitan Transportation Authority (MTA) is under a lot of pressure at the moment, and not just from disgruntled New Yorkers who’ve suffered another hellish commute. The authority will declare its capital budget for the 2025-2029 period by October 1, and two [separate]( [reports]( have called on the agency to cough up as much as $115 billion over 5 years to get NY’s public transport back on track. The $115 billion estimate comes from the Citizens Budget Commission (CBC), an independent fiscal watchdog. Meanwhile, a report from the state comptroller Thomas DiNapoli last week suggested that the MTA needs anywhere between $57.8 billion and $92.2 billion to cover the costs of replacing old units, expanding the network, and improving accessibility — or (as the president of the CBC [put it]() “the basics”. Both analyses suggested that the MTA could struggle to meet those financial thresholds, even with potential revenue from New York’s paused congestion pricing plan taken into account. Travel money For the 2020-2024 Capital Program, which was approved shortly before Covid struck the US in earnest, the MTA [pledged]( to invest nearly $55 billion into the region’s subways, buses, railroads, and bridges/tunnels. According to the authority’s capital commitment figures in the years since, however, it will have fallen short of that target by the time it publishes plans for the coming period next month. Despite committing a record $11.4 billion in 2022 to revamp some of the busiest transit systems in the Western world, the MTA’s spending has slumped in the years since, dropping to $8 billion in 2023, and just $2.9 billion planned for this year. [Read this on the web instead](   More Data - The US dollar has slipped to its [weakest point]( since January, as the likelihood of a 50 basis point [interest rate cut]( from the Fed approached ~70% this morning. - Fur-baby boom: According to the [WSJ](, sales of dog strollers in South Korea are now surpassing that of those used for actual human infants. - Social media platform Bluesky has recently grown its user base by some 400% — adding 8 million users in the [last 10 months]( alone, per company reports. - FX drama Shōgun has made history at the [2024 Emmys](, scooping a record 18 gongs, the most by any show in a single year. - French press: Brands like McDonald’s pay upwards of $550k to have products featured in shows like Netflix's hit marketing-based series, [Emily in Paris](. Waste not, want not: Using proprietary technology, Sky Quarry transforms discarded asphalt shingles into sustainable diesel oil, construction materials, and more, turning waste into value. You can [get in at $6/share until September 18](.3 Ad   Hi-Viz - If today’s your birthday, congrats — yours is the 9th most common in the year, out of a possible 366 dates. If not, find out just how ordinary your special day is [here](. Off the charts: Which YouTube sensation might soon be available on Netflix, following reports that the streamer is in talks to add [live versions]( of the show to its TV lineup? [Answer here.](   Thanks for stopping by! Have some [feedback](mailto:daily@chartr.co?subject=Feedback&body=Hi, I like the newsletters, but I had a thought for you...) or want to [sponsor this newsletter](mailto:advertising@sherwoodmedia.com?subject=I’m interested in advertising with Sherwood Media)?   Not a subscriber? Sign up for free below. [Subscribe](   Advertiser’s disclosures: 2 211% in annual revenue growth in 2023 as a result of the full year operations of Foreland Refining Corporation. Q4 2022 revenue of $16,287,407 reflects post-acquisition figures only, while Foreland's full-year revenue stands at $65,836,151. 3 This is a paid advertisement for Sky Quarry’s Regulation A Offering. Please read the offering circular and [related risks]( at [investor.skyquarry.com]( Past performance is no guarantee of future results. Start-up investments are speculative and involve a high degree of risk. Those investors who cannot afford to lose their entire investment should not invest in start-ups. Companies seeking startup investment tend to be in earlier stages of development and their business model, products and services may not yet be fully developed, operational or tested in the public marketplace. There is no guarantee that the stated valuation and other terms are accurate or in agreement with the market or industry valuations. Further, investors may receive illiquid and/or restricted stock that may be subject to holding period requirements and/or liquidity concerns. 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