TikTok has been dominating the news and social media lately, and as someone who likes to scroll endlessly on the app, I’m curious about the fate of this social platform. There seem to be so many changes, so what is happening with the app? To begin, TikTok is creating a new American company called TikTok Global that promises to create more than 25,000 new jobs in the United States.
However, it’s apparent that the concerns surrounding TikTok are not about the jobs it will create, but instead the possible security risks it poses. TikTok is the US subsidiary of the Chinese company, Bytedance, which is where these security concerns arise. President Trump is now interfering with the private merger and acquisition activities by implementing an executive order invoking the International Emergency Economic Powers Act.
What’s the reality of this? Well, it can be confusing to consume all of this information as there seems to be new information coming out in the news all of the time. Currently, Trump plans to use the money to fund his 1776 project for education. Oracle, according to a press release, plans to create an AI-driven education curriculum. The fate of TikTok and this merger and acquisition can be quite confusing, but Gina Rosenthal explains the situation in-depth and provides resources to better understand what is happening.
Gina Rosenthal comments:
Seven days ago, I wrote about Presidential powers to halt mergers, specifically looking at the TikTok deal. Since that time, it has been announced TikTok will go public in the US with an IPO, with Oracle and Walmart will having shares in the new company. Let’s try and tease out some of the reality of […]
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