Tiktok Aircraft - Teenage TikTok users will be able to turn off this new default setting, which will roll out in the coming weeks. But the feature change could bolster the digital well-being of younger users by requiring them to opt out of stricter screen time limits rather than clearing the higher bar of opting in to them.
The 737 MAX has been the big story for Boeing (BA 2.69%) for the past several years, first focusing on its potential to become the centerpiece of airline fleets, and then its design problems following two fatal crashes in late 2018 and early 2019.
Tiktok Aircraft
The COVID-19 pandemic only exacerbated this headache, by disrupting airlines' demand for new passenger jets. That's why even with the rebound in sales that began in October, Boeing shares are still priced at less than half of their all-time peak reached in early 2019.
European Union
The European Parliament, European Commission and the EU Council, three top EU bodies, have imposed bans on TikTok on staff devices. The European Parliament's ban, announced Tuesday, takes effect March 20. It has recommended that lawmakers and staff remove the app from their personal devices.
Take a look at the graphic below, which shows all the different sources of sales feeding into the company's total top line for the final quarter of last year. While commercial aircraft are Boeing's single-biggest business, this segment made up less than half of total sales.
Space and defense accounted for roughly one-third of its revenue, while services made up about one-fourth. Keenan added that if a teen decides to turn off this new default limit and spends more than 100 minutes on TikTok a day, they will be prompted to set a daily screen time limit for themselves.
"In our first month of testing, this approach increased the use of our screen time management tools by 234%," Keenan wrote. Better still, in its most recent Commercial Market Outlook the passenger jet maker predicts the world will need 41,000 new commercial jet aircraft by 2041 to meet the ever-growing demand for air travel, which aircraft leasing outfit Avalon as well as the UN's International Civil Aviation
United States
Organization (ICAO) Council predict could reach 2019's pre-COVID levels by the middle of this year. You're reading a free article with opinions that may differ from The Motley Fool's Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more.
Learn More It would be easy to presume Boeing's biggest revenue driver is also its biggest profit producer. And, broadly speaking, that is the case. However, the commercial aircraft segment is also this company's least consistent and most unreliable source of net income.
While some of its recent losses are attributable to the pandemic-prompted upending of air travel and then the fallout from problems with the ballyhooed 737 MAX, this business's bottom line was a bit unpredictable even before those headaches took shape.
This makes sense. All aircraft require maintenance regardless of when they're purchased. In a similar vein, the world's military air forces are typically funded by governments willing and able to borrow money regardless of the global economy's condition.
The same cannot be said of commercial airlines. First, don't be so distracted by matters that solely impact the sale of new passenger jets that you forget Boeing operates other ventures. While commercial aircraft are its single-biggest business, there are plenty of sales and earnings taking shape on other, more consistent fronts.
The bulk of this weakness, however, may be rooted in a bit of misunderstanding of what Boeing really is. While commercial aircraft are a key part of its business, they're hardly the only profit center the company operates.
TikTok, which is owned by the Chinese company Bytedance, has long maintained that it does not share data with the Chinese government and that its data is not held in China. It also disputes accusations that it collects more user data than other social media companies and insists that it is run independently by its own management.
The move comes after TikTok and other social media platforms have faced years of scrutiny over their impact on young users, including their potential to lead teens down harmful rabbit holes. TikTok is also facing mounting pressure from Washington over security concerns from its ties to China through parent company Bytedance, including renewed discussion of a possible US ban of the short-form video app.
This week, the U.S. said that government agencies have 30 days to delete TikTok from federal devices and systems over data security concerns. The ban applies only to government devices, although some U.S. lawmakers are advocating an outright ban.
China lashed out at the U.S. for banning TikTok, describing the ban as an abuse of state power and suppression of firms from other countries. More than half of U.S. states also have banned the app from government devices.
And that's apt to remain the case into the distant future. Last quarter's 94% year-over-year improvement in commercial airplane sales still doesn't come close to reclaiming the revenue trajectory in place prior to the wave of disruption that materialized back in 2019. That leaves a ton more growth upside ahead.
After the U.S. announcement, Canada on Monday announced that government-issued devices must not use TikTok, saying that it presents an "unacceptable" risk to privacy and security. Employees will also be blocked from downloading the application in the future.
India imposed a ban on TikTok and dozens of other Chinese apps, including the messaging app WeChat, in 2020 over privacy and security concerns. The ban came shortly after a clash between Indian and Chinese troops at a disputed Himalayan border killed 20 Indian soldiers and injured dozens.
Let's connect the dots. Boeing can survive even when its commercial aircraft business is under pressure. It can outright thrive when its commercial aircraft business is humming (which isn't even happening in earnest yet). Holding onto it just requires a great deal of patience to let these slow-moving factors do their thing.
In December 2022, Taiwan imposed a public sector ban on TikTok after the FBI warned that TikTok posed a national security risk. Government devices, including mobile phones, tablets and desktop computers, are not allowed to use software made in mainland China, which includes apps like TikTok;
its Chinese equivalent, Douyin; or Xiaohongshu, a Chinese lifestyle content app. The video shows Sugue, who's been working as a ramp agent for four years, packing the bags together as if it were a game of Tetris.
He told Insider that he has a system of putting the hard shell or heavy bags on the bottom and the lighter or soft shell ones on top. Keenan also announced some updates to the app's Family Pairing feature, which allows a parent or caregiver to link their TikTok account to their teen's and set controls.
Parents will be able to filter videos with words or hashtags they don't want to appear in their teen's feed, set a custom daily screen time limit for their teen, and set a custom schedule to mute TikTok notifications sent to their teen.
TikTok announced Wednesday that every user under 18 will soon have their accounts default to a one-hour daily screen time limit, in one of the most aggressive moves yet by a social media company to prevent teens from endlessly scrolling.
"While there's no collectively-endorsed position on how much screen time is 'too much', or even the impact of screen time more broadly, we recognize that teens typically require extra support as they start to explore the online world independently," Keenan wrote
in a blog post.