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ByteDance would rather close down Tik Tok in the US than sell it if it fails to fight potential US ban in court, report says ByteDance would rather close down TikTok in the US than sell it, Reuters reported, citing four unnamed sources. President Joe Biden recently signed into law legislation that could see TikTok banned in the US. ByteDance has nine months to a year to divest itself of the company under the legislation. Tap the link in our bio for more about TikTok's future in the US. Follow TechWisdo Technology Insights News Updates #TechWisdo #usa #usatechnology #techhouse #tech #technology #techno #techtrends #trendingreels #america #americanstyle #technews #newtech #upcomingtechnology #latestnewstoday #nvidiageforce #virginia #tiktokusa #facebooknewsfeed #tiktokers #tiktok #business #businessnews

TikTok's Chinese parent company ByteDance says it has no intention of selling the business after the US passed a law to force it to sell the hugely popular video app or be banned in America. According to TikTok, ByteDance's Chinese founder owns 20% of shares, through a controlling stake in the company. About 60% is owned by #institutionalinvestors, including major US investment firms The Carlyle Group, General Atlantic, and Susquehanna International Group, LLP (SIG) . The remaining 20% is owned by its employees around the world and 3 of ByteDance's 5 board members are American. The Chinese government has also dismissed such concerns as paranoia and has warned that a TikTok ban would "inevitably come back to bite the US". However, TikTok is not facing an immediate ban in the US. The new law gives ByteDance nine months to sell the business, and an additional three-month grace period, before a potential ban can be enforced. That means the sale deadline would most likely come some time in 2025, after the winner of the 2024 presidential election takes office. #GlobalRivalry #TechWar #TradeWar #TechTrends #TechCompanies #ChineseCompanies #EconomicWar #Geopolitics #Diplomacy #Geostrategy #CorporateStrategy #Strategy #Politics #WorldPolitics #ForeignRelations #ForeignAffairs #ForeignPolicy https://lnkd.in/gfTdgdzs

***How Tiktok managed to crack the outside China market?*** This is a very very interesting yet a long read (case study) with some fresh perspectives on how a business can be purely built on the entertainment capital, capitalising on algorithms. Shravan Tickoo - where do you get such articles from? This left me hungry for more for sure 😁 https://lnkd.in/gzYw-3fa

"Crucial Decision Looms: U.S. House Committee to Vote on ByteDance's TikTok Divestment" "The future of TikTok hangs in the balance as the U.S. House Committee considers a pivotal vote on ByteDance's potential divestment. Stay tuned for the latest updates." The U.S. House Committee on Energy and Commerce is set to decide on a bill this Thursday, urging ByteDance, the Chinese company behind TikTok, to divest from the short video app within six months. Non-compliance might lead to a U.S. ban. Stay updated on the outcome of this crucial legislative vote. https://lnkd.in/e5q_hkTM #TikTok #ByteDance #USGovernment #Legislation #technews

Fresh out of the studio, Jing Yang, the Asia Bureau Chief for The Information, provided an insightful analysis of the potential implications of the recent U.S. House of Representatives bill to force Bytedance to divest TikTok or face a ban in the US. Detailing a timeline of events, she illuminated how ByteDance and TikTok executives may have misinterpreted U.S. political signals. Despite Bytedance's profitability in China, she shed light on why TikTok is facing financial challenges and the complex dynamics between Bytedance and the investors of the company. Concluding her discussion, she offered her perspectives on the possible future of TikTok globally pending the outcome. "If we assume that happens, I'm sure TikTok, let alone ByteDance as a company as a whole, will survive - and maybe even continue to thrive after this. Because, let's put things into perspective, right? TikTok has more than 1 billion users globally and then the US represents just a little over a 10th of that, 170 million. So I'm not saying that it's not going to impact TikTok and ByteDance. But does it pose an existential threat? Probably not. I believe given we already talked about how ByteDance has been super profitable. I think that, even if they get banned in the US, this is by no means the end of TikTok or ByteDance." - Jing Yang You can watch the full video here: https://lnkd.in/gRSdEgr2

Despite its meteoric rise, TikTok faces intense scrutiny over its Chinese ownership and data practices. The escalating tension underscores the mounting concerns surrounding TikTok's future in the United States, where legislation has been proposed to force its Chinese parent company, ByteDance, to divest its US operations. Although the Biden administration appears open to a potential compromise if TikTok severs its Chinese ownership ties. To find out about how DeepSearch Labs can help your business please get in touch on: [email protected] or visit our website: https://lnkd.in/giRaZWiW #TikTokScrutiny #DataPrivacy #CorporateIntelligence #RegulatoryCompliance #TechPolicy

The future of TikTok in the US is at a critical crossroads. The House of Representatives is speeding up a bill that would force its Chinese parent company, ByteDance Ltd. to sell its ownership stake or risk being banned in the US. This bill is likely to pass quickly, with President Joe Biden ready to sign it. If it becomes law, ByteDance would have up to a year to sell its ownership before facing a ban. Lawmakers are worried about TikTok's ties to China, fearing that user data could be compromised. TikTok has argued against these concerns, spending over $1.5 billion to safeguard US user data. But the question remains: what happens next? And who stands to gain from TikTok's potential divestiture? More details at the link in bio #stockmarket #stocks #investing #finance #trading #AI #artificialintelligence #machinelearning #tech #future #tech #technology #innovation #gadgets #digital #financialnews #marketanalysis #financialtips #investor #stockpicks #fintech #financeindustry #financialtechnology #financialservices

DUMB: TikTok's decision to sue the U.S. Federal Government is like a chihuahua picking a fight with a silverback gorilla. a bold but ultimately misguided move. This lawsuit will likely strain ByteDance's already tenuous relationship with the United States. If federal investigators uncover evidence during discovery that reveals backdoors in TikTok's platform, potentially linking the app to the Chinese government, it would be a public relations nightmare for Bytedance, and will likely the U.S. government likely will block access to future Bytedance products. dumb move. #tiktok #lawsuit #branding #strategy #business

Of course, TikTok and its parent company ByteDance were all over the news last week. It is a great time to speak to Jing Yang, the Asia Bureau Chief from The Information and assess the situation from a neutral Asian perspective on Analyse Asia #podcast. Here are the key takeaways from my conversation with her and it is simply a tale of 2 markets - #China and International: 1/ Misjudging U.S. Political Landscape: TikTok underestimated the complexities of U.S. politics, leading to a bill threatening its operation. Their technical solutions, although innovative, couldn't fully address the heightened political concerns surrounding data security. 2/ Data Security Hurdles: The podcast emphasized TikTok's significant efforts in enhancing data security, like 'Project Texas' involving Oracle and its engagement with USDS and CFIUS. However, these initiatives have been overshadowed by broader political issues, highlighting the complex interplay between tech innovation and government policy. 3/ Financial Dichotomy: Despite ByteDance's robust profitability in China, TikTok faces financial strains internationally. Initiatives like TikTok Shop indicate a commitment to global expansion, but they come with substantial costs, showing the challenge of replicating domestic success in international markets. You can watch the full video: https://lnkd.in/gGpBB5xH

#MintInFocus | The US senate has passed a legislation that has started a countdown clock for #Tiktok's parent's company #ByteDance. Basically, what the legislation says is that ByteDance which is a Chinese company has 9 months to sell off Tiktok as it's used in the US, or they'll face a nationwide ban. President #Biden is also on board with signing the bill into a law. But how exactly will this work, and can Tiktok do anything about it? Watch