436
you are viewing a single comment's thread
view the rest of the comments
view the rest of the comments
this post was submitted on 27 Apr 2024
436 points (97.0% liked)
World News
32315 readers
1050 users here now
News from around the world!
Rules:
-
Please only post links to actual news sources, no tabloid sites, etc
-
No NSFW content
-
No hate speech, bigotry, propaganda, etc
founded 5 years ago
MODERATORS
Still think it's a baited headline given their stated intention to go to court to fight the "unconstitutional ruling". I'm not so sure the constitution gives foreign companies many legal rights so in that regard they'd perhaps be more protected if they were an American company. Whoops.
TikTok's 80% of investors who aren't ByteDance won't pass up billions of dollars in cash either if the alternative is that they forever get zero from the American market.
They've been investing heavily in the US market for the last couple years too, so I doubt they are in the black.
They've just all around played politics the American way very poorly. I can't really comment on whether that's good or bad but I'm blown away this Shou Chew CEO dude still has a job after this came down.
A thing never mentioned in these debates is that noone in the world is buying tiktok without buying the underlying algorithm, the same algorithm the app runs on worldwide, the algorithm is the special sauce. They are not going to sell the basis for their app just for a single payday in the US market, which after buying it, they could rebrand and then once successful in the US, compete in the global market against tiktok but with the income of the most lucrative app market in the world behind them. It’s an extremely stupid business move.