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Inside the growing pains at Chief, the exclusive womens networking club with a waitlist of 60,000 and a valuation of $1.1 billion – Fortune

Good morning, Broadsheet readers! A Florida bill could ban girls from discussing their periods at school, the SVB crisis turned one founder into a social media star, and Fortune senior editor Claire Zillman shares a new story that digs into Chief, the womens networking startup worth $1.1 billion. Have a productive Monday.

Inside Chief. You would think that launching a womens network shortly before COVID hit would have doomed the venture; we were barely leaving our homes, let alone schmoozing with strangers. But Chief, the exclusive, $5,800-per-year-and-up networking club for female executives, defied that conventional wisdom. Since launching in 2019, its grown to 20,000 members, amassed a waiting list of 60,000, and earned a valuation of $1.1 billion from backers like Alphabets VC fund CapitalG.

In a new story for Fortune, contributor Katherine Dunn digs into Chiefs pandemic-era success and some of the growing pains members claim its experiencing as it scales. (Editors note: Fortune offers its own membership groups for executives, including one for women.)

Cofounders Carolyn Childers and Lindsay Kaplan sought to provide exclusivity and group coaching to female executivesvice presidents and up. As COVID hit, it pivoted to digital, conducting its key offeringCore groups or cohorts of eight to 12 women who meet once a monthonline. Compared to startups like the now-defunct Wing, Chief was light on real estate, another COVID-era advantage.

Dunn interviewed 15 current and former Chief members for her story. Several credit Chief with helping spark incredible shifts in their careers. New York City member Sandhya Jain-Patel says her fellow Chief members coached her through the process of landing her dream job as manager of diversity and inclusion at Lucasfilm.

Yet other members interviewed for the story say theyre having a hard time seeing Chiefs value beyond the initial introductions it makes. They claim the network is suffering from high turnover and hit-or-miss matchmaking and failing to fulfill its mission to remake corporate leadership.

Chief, for its part, acknowledged growing pains, and says it has addressed operational glitches. It says claims of high turnover are false and that its making a real difference in womens careers.

Whats certain is that Chief has hit on a powerful observation: Senior women in corporate America are stressed out, often lonely, and eager to connect with peers who understand the demands of their jobs.

You can read the full story here.

Claire Zillman@clairezillmanclaire.zillman@fortune.com

The Broadsheet is Fortunes newsletter for and about the worlds most powerful women. Todays edition was curated by Emma Hinchliffe. Subscribe here.

SVB star. During the Silicon Valley Bank crisis, Omsom cofounder Vanessa Pham unexpectedly became a social media star. She shared the hour-by-hour reality of navigating the fallout of the banking crisis in a way that resonated with her Asian sauce kit startups community online.Fortune

Single life. A record 52% of American women are single. That number helps to break down social stigmas against singlehoodbut also stresses the personal finances of women. Three-quarters of Americans say it is more affordable to be in a relationship, with the opportunity to split costs like rent and utilities. Fortune

Safety at sea. Sexual assault at sea is an underreported problem, according to a new investigation by the U.S. Coast Guard. In the past 10 years, the branch has opened 25 criminal investigations into alleged shipboard sexual assault, but there hasnt been a successful sex crime prosecution of a credentialed mariner in the last 30 years. CNN

Workwear that works. Sarah LaFleur, the founder and CEO of the womens fashion and workwear brand M.M. LaFleur, shares what inspired her to start her brand. She wanted to escape the private equity industry, which she calls a poor culture fit. Now shes redefining the new era of workwear, including a category called power casual. Elle

Silenced conversation. A Florida state bill would bar elementary school students from discussing menstrual cycles and human sexuality, only allowing discussion of those topics after sixth grade. Opponents are outraged that the bill could prevent girls who get their period before sixth grade from discussing the experience.Associated Press

Meet me at midnight. Taylor Swifts Eras tour kicked off in Glendale, Ariz., over the weekend. The pop star obliquely acknowledged the Ticketmaster drama when she thanked her 150,000 fans in attendance for their considerable effort to be there. Small businesses, hotels, and bars all prepared for overwhelming demand in the city temporarily renamed Swift City. Insider

Why are so many people rewatchingGirls?New York Times

What we still dont understand about postpartum psychosisNew Yorker

An A.I. told me I had cancerWired

You werent going to march into a fantastic female protagonist out of SNL in 2002. But there were lots and lots of opportunities on stage.

Actor Ana Gasteyer on the path her career took after she leftSaturday Night Live

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Inside the growing pains at Chief, the exclusive womens networking club with a waitlist of 60,000 and a valuation of $1.1 billion - Fortune

UK TikTok ban gives us all cause to consider social media security – ComputerWeekly.com

The UK ban on installing and using social media app TikTok on government devices brings our countrys policy in line with that of other jurisdictions including the US and member states of the European Union.

Announced yesterday in the House of Commons by Oliver Dowden, chancellor of the Duchy of Lancaster, the ban covers devices in ministerial and non-ministerial departments, and is a precautionary move that has not been taken in response to any specific incident or threat.

Its the latest step in a long-running feud between the West and China over data privacy issues, that besides TikTok has drawn in the likes of Hikvision, a manufacturer of IP surveillance cameras, and most famously, networking and comms giant Huawei, which found itself banned from the UKs core communications infrastructure in 2020.

All of these cases arise from concerns shared by Britain, the US and other Western states. Broadly speaking, these concerns centre on the possibility that the Chinese government may be able to extract sensitive data from these companies for espionage purposes.

China has a long history of industrial espionage, and its state-backed cyber operations are widely acknowledged as a particularly dangerous threat, so these concerns are not wholly unjustified, and its not a stretch to imagine how Beijing could exploit the personal data of UK government officials should it fall into their hands. In light of this, Chris Vaughan, vice-president of technical account management at Tanium, said its no surprise to see Westminster following in the footsteps of Brussels and Washington DC.

Chinese intelligence tactics are usually focused on longer-term objectives and are fuelled by the sustained collection of data, he said. The immense collection of user data, to now include commerce and purchasing information, combined with biometrics and activity tracking, feeds detailed intelligence into Chinese state departments.

This data can also be leveraged to deliver targeted, timely and often personalised psychological operations against individuals or groups of citizens. These tactics could potentially be used during election cycles and politically charged events in the coming years.

Vaughan regards the UKs TikTok ban as speaking to a wider issue around how much Chinese influence is deemed acceptable in national infrastructure and everyday life (similar issues dogged Huawei previously).

We have seen concerns increase in the West in recent months, with the use of Chinese surveillance technology being restricted, he said. There have also been numerous reports of Chinese efforts to sway politicians by way of lobbying and donations, and the public via social media and the spread of disinformation.

Historically, Russia has been the most prominent user of information operations as we saw from its activities related to the 2016 US election and the Brexit referendum. China has been more focused on stealing intellectual property which it can then use to its own advantage. However, there are indications that the CCP [Chinese Communist Party] will start to focus more on information and influence operations to achieve its strategic goals which adds to the concerns about the use of technology such as TikTok.

Any instances of these activities need to be met head-on by Western political leaders who should take a strong stance against it at the government level, rather than leaving the responsibility to individual organisations.

In her response to Dowdens statement yesterday, Labour deputy leader Angela Rayner was scathing in accusing the government of being behind the curve and making sudden U-turns, and for some in the cyber security community, there is something distinctly fishy about its decision.

Matthew Hodgson, co-founder and CEO of secure comms services provider Element, said that in one important way, the ban is downright hypocritical.

The UK government banning officials having TikTok on their phones while pushing through legislation that will give the UK government access to all UK communications screams of double standards, said Hodgson.

Outwardly it looks like theyre taking the security of data seriously by stopping China having a backdoor into UK data, albeit only for government officials currently. However, the UK government is pushing through the Online Safety Bill, which creates a very similar backdoor into every communications platform used by UK citizens.

So, its not OK for China to access government communications but it is OK to provide a route for them to access citizen communications via Online Safety Bill weaknesses? We need to protect the privacy of UK citizens today from bad actors and nation states of all shapes and sizes, he said.

Naturally, Westminsters thoughts are not shared by TikTok, which continues to stress that its never been asked to hand over data by the Chinese government, and insists it would never do so if asked.

In a statement following Dowdens announcement on 16 March, a TikTok spokesperson said: We are disappointed with this decision. We believe these bans have been based on fundamental misconceptions and driven by wider geopolitics, in which TikTok, and our millions of users in the UK,play no part.

We remain committed to working with the government to address any concerns, but should be judged on facts and treated equally to our competitors. We have begun implementing a comprehensive plan to further protect our European user data, which includes storing UK user data in our European datacentres and tightening data access controls, including third-party independent oversight of our approach.

The organisation believes it is inaccurate to describe it as Chinese-owned as its European presence is incorporated and regulated in the UK and Ireland, and its parent, Bytedance, is incorporated outside of China, so would not be subject to laws that require it to hand over data to Beijing if asked.

The firm recently announced Project Clover, a dedicated secure European enclave to harbour its UK and European Economic Area (EEA) user data. The fulfilment of this project will also see UK user data currently stored in datacentres in Singapore and the US moved within European jurisdiction.

It has also named a third-party cyber security company to audit its controls and protections, monitor data flows, and verify its compliance with relevant laws, which it believes goes beyond what any other tech platform is currently doing.

Venari Security chief technology officer Simon Mullis agrees that the TikTok ban is politically motivated, to some extent. The concerns are really rooted in the ability to assure the chain of trust of data protection from beginning to end, and at all steps in between, he said. With TikTok, this has proven to be extremely difficult for a variety of technical and political reasons.

In fairness, the ban is as much political as it is a consequence of the technical design of the application, said Mullis. Is the TikTok design and architecture so wildly different from other social media applications in widespread use as to cause massive security fears? The answer is probably not.

But Jamie Moles, senior technical manager at ExtraHop, said that given what we do know about how TikTok works, and most importantly, what we know about the data it requests and must have access to in order to run on a device, its mystifying why the UK government has dallied for so long.

Im a security expert who downloaded and used TikTok when it came out like so many others, including those working in the UK government, he said. But heres the difference: I removed it as soon as it became clear that the app could harvest anything from my phone including contacts GPS data, authentication info from other apps, and so on.

Having this app on your phone is tantamount to giving the Chinese government the keys to our economy.

Arctic Wolf chief information security officer (CISO) Adam Marr said: TikTok is collecting massive amounts of information from consumers like user location, voiceprints, calendar information and other sensitive data. The issue is we dont know what this data is being used for, or if a foreign government has access to it.

With the rise of data brokers who make a living out of selling user information, this platform can serve as a vessel for malicious actors to leverage. They can then sell this information, which can be used to target people via phishing emails, influence via propaganda, or even control or access devices. Let this be a reminder that nothing is truly free and that we should all exercise caution.

Faki Saadi, UK and Ireland sales director at SOTI, said: Any app that harvests the data you put into it should be treated with caution. Especially for people trusted with sensitive company information.

TikTok being banned from UK government devices should act as a wake-up call to other organisations do you have full visibility over the apps your employees have on their corporate devices? If not, perhaps now is the time to take stock. And it doesnt need to be a heavy lift there are solutions available that can do this for you, and wipe any unwanted apps in an instant.

Marr and Saadi both speak to a wider issue with social media in general. Other social media platforms such as Facebook and Instagram owner Meta have shown themselves repeatedly to be highly blas with regard to their user data and security policies. Twitter, under the control of the erratic Elon Musk, is heading in a similar direction.

And Robert Huber, chief security officer at Tenable, said that focusing only on TikTok means we risk missing the forest for the trees. There are hundreds of software applications used in government agencies every day that introduce risk, and unpatched known vulnerabilities are the most likely source of data breaches, he said.

The key is for security leaders to understand their organisations unique risk profile, discover where vulnerabilities exist and prioritise remediation efforts to root out those that could be the most harmful first.

Ismael Valenzuela, vice-president of threat research and intelligence at BlackBerry, said he is already seeing CISOs considering banning the use of TikTok on company devices. This is particularly relevant to those working for organisations that operate in highly regulated environments, such as the financial services sector, where companies are rightly expected to conduct their own product security testing and legal review of privacy policy positions to, at the very least, limiting use on corporate devices or by high-value users.

There is no doubt that organisations with regularly updated threat models based on contextual intelligence, mature asset management practices and integrated management endpoint solutions are better positioned to manage this risk enterprise-wide, said Valenzuela.

It underscores the importance of managing risk throughout the organisation and the need to assess, and thereby control, the impact of the introduction of new products and technologies upon overall organisational security. This includes the use of seemingly innocuous chat and social media apps.

I suspect that only a limited number of CISOs are aware of TikToks privacy policy statement, he continued. While attacks on the supply chain are a real concern today, privacy risk should also be a top priority for CISOs of high-risk organisations. This is because personal data on company executives and other important individuals can be of great value in the hands of financially motivated attackers or the state.

Ultimately, the question of whether or not security leaders should ban or restrict the use of TikTok on company-owned devices is one that only they can answer. But given the growing number of government bans being proposed or enacted, at the very least, a thorough risk assessment is in order, coupled with a wider audit of corporate social media activity.

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UK TikTok ban gives us all cause to consider social media security - ComputerWeekly.com

From Facebook intern to the crosshairs of Congress: TikTok chiefs stellar rise – The Guardian

TikTok

Shou Zi Chew, who joined ByteDance, the parent company in 2021, wont let his children use the app

Thu 23 Mar 2023 10.47 EDT

Shou Zi Chew has said the most gruelling experience of his life was a five-day survival course in the jungles of Borneo when he was serving as a conscript in Singapores armed forces.

The TikTok chief executive, whose trans-global academic and business career has rapidly propelled him to the top job at one of the worlds biggest tech companies, will need to display some of that mettle as he battles to ensure the corporate survival of the controversial but immensely popular social video app.

The 40-year-old Singaporean, who faces questioning by US lawmakers on Thursday amid talk of a possible ban in the US, came from a relatively modest background: his father worked in construction and mother in bookkeeping. His fate was transformed at the age of 12 when high marks on a national exam got him into an elite high school, where he added fluency in Mandarin to his native English.

Following his military service Chew is a reservist officer in the Singaporean army until he is 50 he obtained a bachelors degree in economics from University College London.

He stayed on in the UK capital, becoming a banker at Goldman Sachs for two years, investment experience that would eventually lead him to meet a young Zhang Yiming, the founder of TikToks parent, ByteDance, when he was developing the company in a crammed apartment in Beijings university district.

In 2010, Chew gained his MBA from Harvard Business School, where he got his first experience of life in the tech sector with an internship at Facebook while the social networking company was still in startup mode before going public in 2012.

It was also where he met his Taiwanese-American future wife Vivian Kao, with whom he has two children. Chew whose TikTok profile was created in February last year and has just 23 posts, including videos of him attending the Super Bowl and NBA games as well as meeting celebrities such as Bill Murray does not allow his children to use the app, having said last November that they are too young.

After business school, Chew joined the venture capital firm DST, founded by the Israeli-Russian IT billionaire Yuri Milner, where his Mandarin qualified him to be its China-focused partner.

This would see him make his pivotal visit to Zhangs ByteDance in 2012 before the team created TikTok, resulting in Chew and his partners investing in the startup the following year.

He also led investment in Xiaomi, the Chinese smartphone maker with global ambitions to take on Apple, which he joined as chief financial officer in 2015 at the age of 32.

Chew helped to secure financing that led to the companys public listing three years later. At the time this was one of Chinas biggest ever tech initial public offerings, although its share performance has since been mixed. He was made head of its international business in 2019.

In 2021, Zhang persuaded Chew to join ByteDance as its first chief financial officer. Two months later, he was elevated to chief executive following the abrupt departure of the former Disney executive Kevin Mayer after just three months, as the Trump administration attempted to force a sale of TikToks US assets.

Chews rise to the top of the tech industry landed him a spot on Fortunes 40 under 40 list in 2021.

The low-profile exec is now embarking on a media offensive as part of TikToks wider efforts to galvanise support to avert a ban in the US and other countries.

This could take TikTok away from all 150 million of you, he said in a post appealing to US TikTok users.

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From Facebook intern to the crosshairs of Congress: TikTok chiefs stellar rise - The Guardian

EXCLUSIVE: The MCU’s Star-Lord Becomes an Amazing 1/2 Scale … – CBR – Comic Book Resources

Fans have a chance to bring the Guardians of the Galaxy's Star-Lord home with a 1/2 scale bust.

The new bust from Diamond Select Toys, designed by Joe Allard and sculpted by Rocco Tartamella, features Peter Quill, better known as Star-Lord, resting atop a base modeled after his iconic ship, the Milano. Standing approximately ten inches tall, the run on this product is capped at 1,000 pieces, each accompanied by a certificate of authenticity and full-color packaging. This bust is scheduled to ship in Fall 2023, with pre-orders set at $200 beginning Friday, March 24, through Diamond Select.

RELATED: The MCU Omitted Star-Lord's Most Iconic Weapons - Here's Why

First appearing in 2004's Thanos #8, the Peter Quill of the primary Marvel Universe made a name for himself as an interstellar freedom fighter before forming a new iteration of the Guardians of the Galaxy with familiar characters such as Rocket Raccoon and Adam Warlock. The character became a household name following Chris Pratt's debut as Quill in the Marvel Cinematic Universe in 2014's Guardians of the Galaxy. Pratt reprised the role for 2017's Guardians of the Galaxy Vol. 2, 2018's Avengers: Infinity War, 2019's Avengers: Endgame, and is set to return for the upcoming Guardians of the Galaxy Vol. 3.

Guardians of the Galaxy Vol. 3 is slated to be the longest of the films in the MCU trilogy, standing at 138 minutes, according to writer and director James Gunn. Apart from the film's runtime, Gunn has confirmed its Chinese theatrical release date, saying, "[Guardians of the Galaxy Vol. 3] opening in China May 5. I'm so happy that our friends in China can enjoy the movie in theaters at the same time as the rest of the world!" This makes the latest Guardians film the third Marvel movie to secure a Chinese release following Black Panther: Wakanda Forever and Ant-Man and the Wasp: Quantumania.

RELATED: Rocket Raccoon's Comic Book Origin is Even More Bizarre Than his MCU Counterpart

Gunn also warned fans to be on the watch for spoilers on social media in the coming weeks. Gunn advised on Twitter, "It might be wise to be careful what you're reading on social networking sites starting at the end of April if you want to avoid spoilers for [Vol. 3]." He also offered some reassurance, saying, "That said, I don't think your enjoyment of the film will be diminished much by knowing them."

The 3D Movie Star-Lord 1/2 Scale Bust will be available for pre-order on March 24 for $200 from Diamond Select Toys. Orders will ship in Fall 2023. Guardians of the Galaxy Vol. 3 is set to arrive in theaters on May 5, 2023.

Source: Diamond Select Toys

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EXCLUSIVE: The MCU's Star-Lord Becomes an Amazing 1/2 Scale ... - CBR - Comic Book Resources

American tycoon who helped set up Bebo turns store into ‘Britain’s poshest corner shop’ – Daily Mail

An American tycoon who helped set up the social media networking site Bebo has now turned a store which was built by his great-great-grandfather into 'Britain's poshest corner shop.'

Michael Birch set out to renovate an English village, as locals say they 'love' the makeover.

He made his fortune by helping to set up several social media networking sites - including Bebo - which he sold for a whopping $850million in 2008.

The creator of the once popular site has since been spending his cash on buying building and land in Woolsery, north Devon, and renovating 'derelict' stores.

There is also a personal element to his project, as some of his family are from the village and he visited it as a boy.

Birch and his wife have already begun restorations, buying the local pub, fish and chip shop, manor house, several properties - as well as 90 acres of farmland.

They have now transformed the 'derelict' local store into a posh shop.

However, this has received mixed reaction from locals.

Birch's great-great grandfather built Woolsery village shop which remained in the family until it was sold in 1961.

His grandmother Millicent Andrew was also born on village shop's premises in 1900.

Some say they 'absolutely love' the makeover - but others saying it would have been 'better seeing investment on a local level'.

Speaking out about the transformation, one local said: 'Absolutely love our village shop make over. All the buildings were listed and derelict back in 2015 and have been renovated at the cost of millions.

'We've already been lucky enough to have the pub, restaurant, fish & chip shop completely renovated by a millionaire who spent his childhood in the village.

'The manor house is still being done up and there's a bakery to be added as well.

'So lucky to buy in this village without any knowledge of the investment that was being planned.'

But another said they would have rather seen the investments go on a local level, that would have 'benefitted the local families.'

They said: 'Beautiful renovations clearly needed In the village but given it was an American tech millionaire owning it all it would have been better seeing investment on a local level and some sort of cooperative that benefitted the local families.'

The shop now sells basics such as bread, milk, tins and biscuits and offers local products including sausage rolls, pasties and artisan spreads and cakes.

But some locals have commented on the extortionate prices - with a two litre bottle of milk costing 2.10 - which are much higher than seen in other local stores and supermarkets.

A tin of Heinz soup cost 2 at the new shop - even more expensive than Waitrose which sells it at 1.70 and Sainsburys for 1.50.

However, most locals seem happy to spend the expected premium prices in exchange for the investment in their small village, with one local commenting: 'No one would run at a loss, convenience stores are more expensive. At least they're selling some local good stuff too.'

Birch and his wife, Xochi, are currently renovating a manor house which is set to become a 17-bedroom hotel with a second restaurant.

In addition the couple own 90 acres of farmland in the village which will provide ingredients.

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American tycoon who helped set up Bebo turns store into 'Britain's poshest corner shop' - Daily Mail