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Why does the ban on TikTok matter to so many people?
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It's one of the only platforms that doesn't actively suppress left wing views with its algorithm.
I'd be fine with EU style regulations on social media, or depending on how it's written, a more broader ban of social media in general. But banning tiktok only will do nothing to address the concerns you raised. Instead it just funnels people into social media ecosystems that greatly favor right wing sentiment and allow easy access for the 3 letter agencies.
It's about maintaining the ability to manufacturer consent. Tiktok presents a hurdle to that.