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TikTok: Difference between revisions
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(Created page with "On March 23, 2023, TikTok CEO Shou Zi Chew was a witnessed in a full committee congress hearing titled, “TikTok: How Congress Can Safeguard American Data Privacy and Protect...") |
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(7)When Shou is asked whether Bytedance will be willing to divest TikTok, he said that ownership is not the issue here (Min 3:25:45-3:27:08). | (7)When Shou is asked whether Bytedance will be willing to divest TikTok, he said that ownership is not the issue here (Min 3:25:45-3:27:08). | ||
March 16, 2023. The Biden administration led by the Committee on Foreign Investment in the U.S (Cfius) is now threatening to ban TikTok unless its owners sale their stakes in the video-sharing app. However, Cfius move against TikTok could face a bumpy road as the company would "argue that any forced sale would amount to a ban, because the Chinese government wouldn’t allow the TikTok algorithm to be sold along with it." Similarly, TikTok can argue that "the move would violate the Berman amendment, as well as the First Amendment."<ref>https://www.wsj.com/articles/u-s-threatens-to-ban-tiktok-if-chinese-founder-doesnt-sell-ownership-stake-36d7295c</ref> | |||
On March 1 2023, the Deterring America’s Technological Adversaries(DATA) bill that would give Joe Biden the authority to ban TikTok was passed by the U.S. House Foreign Affairs Committee. CNBC notes that "legislation passed the Republican-controlled committee along party lines, with unanimous GOP support and no Democratic votes." Its next steps will be decided by House Republican leadership, which determines which bills get a vote on House Floor. However, despite this legislation, legislators will still have a long way to go before TikTok is ban. However, a US spin off of TikTok remains a possibility and will still benefit the likes of Meta as Needham analyst, Laura Martin notes that TikTok will be a weakened competitor and will experience a period of uncertainty<ref>https://www.cnbc.com/2023/03/01/new-tiktok-ban-bill-passes-key-house-committee-on-a-party-line-vote.html?utm_term=Autofeed&utm_medium=Social&utm_content=Main&utm_source=Twitter#Echobox=1677684473</ref><ref>https://www.cnbc.com/2023/03/01/tiktoks-potential-ban-in-us-could-be-boon-for-meta-and-snap.html</ref>. | |||