Business & Finance TikTok Thread

Husky_Khan

The Dog Whistler... I mean Whisperer.
Founder
Sotnik

With the announcement of this deal, the ban of TikTok downloading, streaming and updating in the United States that was going to start at 11:59 PM this Sunday has been delayed by the US Commerce Department.

Under the terms of this agreement Oracle will purchase a 12.5% stake in the new TikTok Global and Wal-Mart 7.5% with the option of increasing their stake to twenty percent. ByteDance Ltd, the current Beijing-based owner of TikTok would retain an 80% stake in the company but since 40% of ByteDance is owned by American investors, it satisfies surpassing the 50% threshold of American ownership. Four of the five board members will be American and the new stakeholders are planning on initiating an IPO here in the United States.

The President stated that TikTok Global will be incorporated in Texas and lead to the creation of 25,000 jobs in the United States.

It's not over for TikTok yet though. The ban has only been delayed to September 27th pending the deal developments.
 

Arch Dornan

Oh, lovely. They've sent me a mo-ron.
It's quite honestly market bullying but I can see why it's done. People will bitch but powerful countries does as it wills.
 

Husky_Khan

The Dog Whistler... I mean Whisperer.
Founder
Sotnik

A Judge granted Tiktok a preliminary temporary injunction less then four hours before the already postponed ban was to take effect.
 

worm that walks

Sexual Bolshevik
Well one, it feeds the sort of social media narcissism I hate.

Two, it’s being used by China as a weapon against the USA and everyone else.
TikTok isn't much worse than Vine or YouTube. It has a younger demographic so it is a lot louder and dumber, but as a platform is doesn't seem especially bad.

I don't think what China is doing with Tiktok is substantially worse than the way metadata is freely turned over to the Five eyes by Apple, Google, and their ilk.
 

DarthOne

☦️
TikTok isn't much worse than Vine or YouTube. It has a younger demographic so it is a lot louder and dumber, but as a platform is doesn't seem especially bad.

I don't think what China is doing with Tiktok is substantially worse than the way metadata is freely turned over to the Five eyes by Apple, Google, and their ilk.
Maybe, but this was at least a start.
 

LordsFire

Internet Wizard
I don't think it is a meaningful improvement. We're still being spied on continuously. All this does is cut one avenue one power used to gather data. The space left behind by removing Tiktok is going to be filled by somebody else. All this does is shuffle around the pieces.

When you shuffle around the pieces, there's at least a chance that they end up in a better place.
 

Bacle

When the effort is no longer profitable...
Founder
I don't think it is a meaningful improvement. We're still being spied on continuously. All this does is cut one avenue one power used to gather data. The space left behind by removing Tiktok is going to be filled by somebody else. All this does is shuffle around the pieces.
Better it is our own intel people doing it, than that of an enemy nation who can use it to forge/create fraudulent mail-in votes or other similar actions using data from Americans.
 

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