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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.