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TikTok Sold for $14B

cnbc.com

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Re: TikTok Sold for $14B

#31

Post by jmull »

I don't think it's a good idea for the US government to dictate (or attempt to dictate) specific deals and specific terms for those deals.

I think, in the context of something like a financial crisis, there could be a "this is the least bad thing at this point" argument to be made. But for tiktok today, this has to be among the worst things.

It looks like this massively undervalues TikTok's US operations, meaning the current administration is essentially gifting tens of billions to a friendly oligarch.

What a time of corruption we live in.

Re: TikTok Sold for $14B

#34

Post by politelemon »

> No representatives from ByteDance were present at the signing, and the company hasn’t acknowledged that a transaction is taking place. No purchase price was mentioned, and there’s no indication that the Chinese government has made changes to laws that would be necessary for a deal to take place.

This headline is completely misleading and incorrect. I don't think it necessarily needs flagging, but could be fine corrected to reflect the actual event.

Re: TikTok Sold for $14B

#37

Post by saubeidl »

potato3732842 wrote: post #30
saubeidl wrote: post #7

A more apt title would be "US government pretends TikTok was sold"

Is it any less sold than real property seized by a municipality or state? Sure the sale didn't take place via well trodden and codified procedure but it still happened. At the end of the day might makes right in this kind of thing, as unfortunate as it may be.

Yes, because the owners are in China, away from the reach of the US government.

Re: TikTok Sold for $14B

#40

Post by TMWNN »

verzali wrote: post #14
kube-system wrote: post #4

The title here "TikTok Sold for $14B" is completely incorrect TikTok was not sold. This is an announcement of an executive order endorsing a proposal to sell TikTok. > No representatives from ByteDance were present at the signing, and the company hasn’t acknowledged that a transaction is taking place. No purchase price was mentioned, and there’s no indication that the Chinese government has made changes to laws that…

Why does this even need an executive order?

The law mandating TikTok's sale requires the president to formally state whether TikTok is in compliance with the law's requirement of at least 80% non-Chinese ownership. The EO is the executive branch's way of making the formal declaration.
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