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  • sale of Ticktock could become a trap for the next US president.

  • Earlier this year, current President Donald Trump ordered a sale of the video sharing app that is owned by Chinese based Bite Dance, and over the summer, a messy and very dramatic sale process played out.

  • Several technology companies were interested in buying it, and at one point, President Trump even suggested that the potential buyer should pay the U.

  • S government for the privilege.

  • In the end, Oracle and Walmart have agreed to by 20% of the company, and today is the deadline to sell the asset.

  • But there's a good chance that deadline lapses.

  • Which means while some of the drama might go away under President elect Joe Biden's administration, some of it is about to become his problem, too.

  • Like Trump, Biden is worried about tick tock.

  • It's already downloaded on many Americans phones.

  • Many of them are teenagers, and Ticktock collects lots of data and information about its users.

  • Technology and broader national security risk is gonna remain a big concern for Biden, so he may in fact want a sail off Ticktock to.

  • But a sale is an easy no matter who the president is first, A deal depends on several parties coming to an agreement buyers, the sellers, the U.

  • S.

  • Government and the Chinese government.

  • And that's not easy in this environment, even if the parties were all working towards the same goal.

  • And they're not.

  • To complicate matters, disentangling the company from its parent isn't easy.

  • It's not like selling a shipping board or building.

  • The technological code of the APP has already written into it, and that's a big part of its value for bite dance in any of the buyers as well.

  • So this is a test for Biden and his administration and how they're gonna apply it scrutiny over technology companies.

  • It could become his first big deal headache.

sale of Ticktock could become a trap for the next US president.

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B1 sale president biden technology deadline trump

Breakingviews TV: TikTok mess

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    林宜悉 posted on 2020/11/14
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