US approves law that would block TikTok unless it is sold to another owner

President of the United States, Joe Biden signs bill requiring sale of TikTok in this country. ByteDance has nine months to find a buyer, otherwise TikTok will be blocked and disappear from app stores. The decision comes after months of warnings about a possible blockade due to relations with the Chinese government.

The President announced the bill along with a package of foreign aid to Ukraine and Israel. Biden gave him ByteDance has nine months to complete the sale of TikTok. If you don’t do this, you risk being effectively banned in the United States. A Chinese company can get three additional months if it can demonstrate a sales process.

This ad dropped like a bucket of ice water on TikTok, which stated that this law is unconstitutional. Social network issued a position on his account X:

“This unconstitutional law is a ban on TikTok, and we will challenge it in court. We believe that the facts and the law are clearly on our side, and we will ultimately prevail. The fact is that we have invested billions of dollars in preserving US data and our platform is free from external influences and manipulation.

This ban would hurt seven million businesses and silence 170 million Americans. As we continue to challenge this unconstitutional ban, we will continue to invest and innovate to ensure that TikTok remains a space where Americans from all walks of life can safely come to share their experiences, find joy, and be inspired.”

TikTok blocking is the latest chapter in the trade war between the US and China. The case has generated intense interest over the past six months among lawmakers who believe ByteDance’s ties to the Communist Party could pose a security threat to the country. The authors of the bill claim that TikTok sends user data from the United States to servers in China.

The most absurd thing about advertising is that Joe Biden confirms he will continue to use TikTok. In an interview with NBCNewsThe American president confirmed that he will keep his account active in order to get more votes in the 2024 elections. Despite the perceived national security risks, Biden launched his TikTok profile at the beginning of the year with the idea of ​​reaching the youngest. People.

Who could buy TikTok in the US?

The sale of TikTok is not final as ByteDance plans to challenge the law in court. The social network will use the US First Amendment, arguing that A forced sale would constitute a violation of freedom of expression. Although the process is long and there are no guarantees, some have already raised their hands.

Bobby Kotickformer CEO of Activision, stated that I was interested in buying TikTok. According to reports from Wall Street JournalKotik contacted Zhang Yiming, co-founder of ByteDance. To complete the sale, the executive will rely on other investors, including Sam Altman, CEO and co-founder of OpenAI.

Altman’s participation will be key for TikTok as OpenAI will help train the video platform algorithm. To do this, Kotik and his partners will have to raise more than $100 billion, a figure that analysts estimate is driven by the company’s U.S. operations.

Although there are several interested parties, selling TikTok is more complicated than it seems. Money isn’t an issue for many tech companies, but the purchase could trigger an antitrust lawsuit. If Meta or Google decide to file, they will automatically be in the crosshairs of the FTC since they already own Instagram and YouTube.

The reality is that TikTok will fight this process and delay it for as long as it can. If you’re lucky and Donald Trump becomes president, the veto power can be revoked. The controversial GOP candidate opposes blocking TikTok because it benefits Meta.