Rick Li’s Post

TIKTOK DIGS IN TO FIGHT US BAN WITH 170 MILLION USERS AT STAKE Bloomberg 🎏 TikTok’s sizzling growth makes it harder to part with now 🎐 A legal battle could set the tone for Chinese companies in US Four years ago, when the Trump administration threatened to ban TikTok in the US, its Chinese parent company ByteDance Ltd. worked out a preliminary deal to sell the short video app’s business. Not this time. Once again, the US government is aiming to shut down TikTok unless it’s divested from Beijing-based ByteDance. But the company has made clear it has no intention of selling. Indeed, TikTok’s management vowed in an internal memo to staff “we will move to the courts for a legal challenge” if the bill winding its way through Congress is signed into law. That sets the stage for a watershed legal battle between the US government and the offspring of a $240 billion startup that’s come to define China’s growing technological muscle. The outcome could define the business landscape for Chinese companies like Tencent Holdings Ltd. and PDD Holdings Inc.’s Temu with growing US ambitions. And it’s a test of how Beijing will respond to growing pressure on homegrown champions from ByteDance to Huawei Technologies Co. The proposed bill in fact deliberately calls out the potential to circumscribe apps from countries that count as foreign adversaries. “It’s not just TikTok, since we saw the US also took actions before against Huawei and now hundreds of Chinese companies are under US sanctions,” said Wu Xinbo, a director at Fudan University’s Center for American Studies. “In the future, other companies like Temu and other commerce platforms could also be affected and US allies may follow suit to ban TikTok as well. This may have a domino effect.” learn more: https://lnkd.in/gEDh-FVd #investment #metaverse #fashion #socialmedia #conflict #ai

President Biden has signed a bill threatening to ban TikTok unless its Chinese parent #company ByteDance sells it within a year. The legislation, which also includes foreign aid components, passed both the U.S. Senate and House with strong support. ByteDance has nine months to divest, with a potential three-month extension. If not sold, #TikTok would be #illegal in U.S. app stores. TikTok criticized the bill as unconstitutional, vowing to fight it in court and continue efforts to safeguard U.S. user data and the platform's independence. TikTok #CEO Shou Zi Chew expressed disappointment but reaffirmed the #company's commitment to fighting the ban. Previously, TikTok has been banned in several #countries including #India, where competitors quickly filled the void. The company argues its significant contribution to the U.S. economy, citing a recent report that highlighted its $14.7 billion impact on small and mid-sized U.S. #businesses. #tech #technews #news #business #dailynews Website: www.suryavanshi.io

TikTok, the global sensation, is pushing back against a U.S. law that could ban the platform unless ByteDance sells its stake. The law stems from concerns that U.S. user data could be exploited by China's government. Both TikTok and ByteDance deny any ties to Chinese authorities and have sued to block the legislation. With TikTok being one of the most influential social media platforms today, this raises an important question: Is TikTok really a conduit for Chinese propaganda, or is this an overreach of government control? What are your thoughts? Let's discuss. William James Recruitment #TikTok #FreeSpeech #DigitalRights #SocialMedia #NationalSecurity #TechPolicy #ByteDance #USLaw #DataPrivacy

Tensions between TikTok, the popular short-form video platform, and the United States government have reached a new height as TikTok, along with its parent company ByteDance, files a lawsuit against the US government. The legal action comes in response to President Joe Biden's administration imposing a new law mandating TikTok to divest from ByteDance or risk facing a ban in the country. This move underscores the ongoing geopolitical challenges facing Chinese-owned tech companies operating in the United States. The lawsuit reflects TikTok's determination to challenge what it perceives as unjust regulatory measures that threaten its operations and user base in one of its largest markets. As the legal battle unfolds, it not only highlights the complexities of global tech regulation but also underscores the significant impact of political decisions on the digital landscape and the broader implications for international relations in the tech sector. #TikTok #ByteDance #USGovernment #Lawsuit #Geopolitics #TechRegulation #DigitalLandscape #InternationalRelations #JoeBiden #ExecutiveOrder #BanThreat #ChineseTech #LegalAction #DigitalEconomy #TechIndustry #USPolicy #GlobalTech #DataPrivacy #DigitalSecurity #TechConflict

#VantageOnFirstpost US Lawmakers' Ultimatum to TikTok: Ask ByteDance to Divest or Face Ban | Vantage with Palki Sharma The US congress has drafted a bill proposing a ban on Chinese social media app TikTok. If passed, this bill will give China's ByteDance six months to divest from TikTok's American business. Previous attempts to ban TikTok in the US have run into judicial roadblocks. Why has America not succeeded in banning the app? Palki Sharma tells you. --- US | TikTok | ByteDance | China | Ban | Social media App | Firstpost | World News | Vantage | Palki Sharma #us #tiktok #bytedance #china #ban #socialmedia #app #firstpost #vantageonfirstpost #palkisharma #worldnews

Recently, the potential US ban of TikTok, the popular app owned by China’s ByteDance, has dominated headlines. To provide deeper insights, we have compiled a report on the media coverage surrounding this issue.   Our report includes actionable insights from our expert consultant, Jennifer Sanchis, who states, "The new federal law mandating TikTok divestment from ByteDance is a watershed moment for social media and PR practitioners. Never before has a social platform been banned by federal law, making the implications significant."   Gain access to CARMA’s report, which explores the media coverage from countries that have banned TikTok, top countries driving online and social media discussions, key themes such as US national security concerns, the impact on the US election campaign, freedom of speech, and more.   Download your complimentary PDF copy now: https://lnkd.in/dEbYMF5T   #TikTokBan #TikTok #US #China

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

#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

Interesting times ahead

After the President of the United States (US), Joe Biden, officially signed a law requiring ByteDance to sell TikTok in the US to continue operating in Uncle Sam’s country, TikTok’s parent company is reportedly exploring other scenario to sell the apps without its algorithm, the Information reported. However, the company’s management has denied the rumors, as TikTok’s algorithm is one of its valuable assets, and it consists of user data and product operations and management. As is known, the TikTok algorithm allows users to get personalized video recommendations. Nevertheless, ByteDance also affirmed that separating the algorithm from TikTok’s app’s US assets is a complicated procedure. Read more at https://buff.ly/3we7QiD #news #LatestNews #TikTok #ByteDance #heaptalk #government #policy #usa #biden