With approval from both the US and China closing on the schedule laid out in December, ByteDance’s ownership of the new joint venture is now only 19.9 percent to satisfy the terms of the divest-or-ban law signed in 2024 by President Biden. The other 80.1 percent is owned by investment firm Silver Lake, Oracle, and Abu Dhabi investment firm MGX — the three “managing investors” that now hold 15 percent stakes — and several other smaller investors, like Michael Dell’s family investment firm.
The TikTok deal is done - TikTok is now under new ownership in the US
Submitted 4 days ago by along_the_road@beehaw.org to technology@beehaw.org
https://www.theverge.com/tech/866437/tiktok-usds-bytedance-sale-oracle-mgx
Comments
along_the_road@beehaw.org 4 days ago
artyom@piefed.social 4 days ago
This didn’t sound bad? Tell me why it’s bad. How much money did Trump make on this deal?
excel@lemming.megumin.org 3 days ago
You don’t think allowing Trump to “adjust the algorithms” is bad?
Spacehooks@reddthat.com 3 days ago
Great now kids are going to want coal for Christmas
spit_evil_olive_tips@beehaw.org 4 days ago
congrats to all the liberals who were bamboozled into supporting this ban during the Biden administration. you got what you wanted, are you happy about it?
TehPers@beehaw.org 4 days ago
The ban had bipartisan support, and even if that all never happened, you’d still be in the same situation. They would have sold off their US business anyway whether they were forced to or just got a big offer.
Keep in mind that TikTok also put out messages during that period practically deep throating Trump and sent it out to all their users. This was going to happen either way.
Ironically, a ban could have prevented this from happening entirely by making TikTok no longer relevant to the US. Not that banning it wouldn’t come with other issues as well, of course.
Maybe rather than blaming those in search of a solution, you could try blaming those who created the problem. Friendly fire doesn’t do a whole lot of good, but does support Trump, which I’m assuming isn’t your goal here.
spit_evil_olive_tips@beehaw.org 3 days ago
The ban had bipartisan support
yeah…that’s the point I was making?
the initial attempt to ban TikTok happened in 2020, in Trump’s first term. it was part of the general wave of anti-Chinese racism and xenophobia that the Republicans stoked up during the pandemic.
the “bipartisan support” for it is because a whole bunch of fucking Democrats hopped on board with it when they really should have known better.
and even if that all never happened, you’d still be in the same situation.
to be specific, when you refer to “that all” happening, you mean Biden signing the bill that banned TikTok in April 2024, I think?
Keep in mind that TikTok also put out messages during that period practically deep throating Trump and sent it out to all their users.
your timeline is jumping around a bit here, because now you’re referring to “that period” and linking to a source from January 2025, the time of Trump’s inauguration.
This was going to happen either way.
sigh. here’s the actual roll call vote.
it had 197 Republican “yes” votes. which is not enough. it would have failed without Democratic support. and then Biden signed it into law.
so like I said, this ban only passed because Democrats were bamboozled into supporting a proposal that has its roots in Republican “omg China scary” bullshit. I don’t know how to explain it any more clearly.
Friendly fire doesn’t do a whole lot of good, but does support Trump, which I’m assuming isn’t your goal here.
ahh yes, “criticizing Democrats is the same thing as supporting Republicans”, the free square on the bingo board.
there’s an analogy I saw recently that I really liked:
there’s cockroaches in my house, so I call an exterminator.
the exterminator shows up, but he just hangs out with the cockroaches.
I get mad at the exterminator, and he says “don’t be mad at me, be mad at the cockroaches”.
but…I was already mad at the cockroaches. that’s why I called the exterminator in the first place.
also, the cockroaches are cockroaches. me being mad at them is never going to change their behavior.
on the other hand, if I get mad at the exterminator…it does have a chance of changing his behavior.
if you want to view the world through an oversimplified lens that there’s the red team and the blue team and you can never criticize the blue team because that’s “friendly fire”…that is a choice that you can make. but don’t act surprised if I don’t subscribe to the same oversimplification that you cling to.
along_the_road@beehaw.org 4 days ago