It seems like America is becoming like China every week…
Our remaining civil liberties and privacy are in jeopardy.
Before the coronavirus, a Chinese company Da Jiang Innovations (DJI) who manufactures drones, donated many of them to the U.S.
DJI gifted these drones to police departments in 22 states and 40 municipalities in the U.S.
Departments have been using these drones to watch civilians during the pandemic.
Yet these DJI drones have been banned by the U.S. Army and the Department of the Interior because they're suspected to be intelligence-gathering assets for the Chinese.
The DHS wrote a report that said China specifically goes after local law enforcement.
They do this so they can get key information and send it to the Chinese government.
In today's WSJ, an article talked about how employees will be monitored upon returning to work.
And for those that have been lucky enough to work at home during the pandemic.
Thousands of companies have deployed monitoring software that records employees’ internet activity and active work hours.
Some of these tools are able to snap photos or videos from the computer’s webcam or records audio from its mic.
There's one software that has seen a boom due to the shutdown, Zoom Video Communications Inc (NASDAQ: ZM).
Until recently, Zoom had an “attention tracking” feature,
This feature alerted the host if participants had switched out of Zoom for more than 30 seconds.
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The company removed the feature on April 2 due to backlash.
The company is facing more criticism for allowing its servers in Beijing to access to meeting encryption keys.
Companies such as Apple, SpaceX, Telsa, and NASA do not allow the use of Zoom due to security issues.
In an email dated March 28, SpaceX told employees that all access to Zoom had been disabled with immediate effect.
The more popular this companies technology has become the more warts get exposed.
As investors, we elevate our risk each time new information becomes known.
On January 15, 2020, I issued a buy recommendation on Zoom Video Communications Inc (NASDAQ: ZM).
As of today, we're up 88% and 3,380% on our LEAP option trade.
We had the best-case scenario in terms of why this stock would soar higher.
However, it's hard to expect that Zoom will be able to maintain these valuations going forward.
That's why in the recent May issue of Wealthy Tech Investor, we exited this Top-Pick for 2020.