"The author of The Art of the Deal always likes to claim he's a big winner when it comes to any business arrangement he makes. And in some ways, Donald Trump appears to have won big by finalizing a deal that will see Oracle, Silver Lake, and MGX take part-ownership of a new joint venture designed to oversee operations in the United States of TikTok, the wildly popular social video appl."
"Concerns around TikTok first bubbled up at the end of Trump's first term, when the 45th president, running unsuccessfully for re-election in 2020, presented the app, owned by the Chinese tech championByteDance, as a national-security concern. On both sides of the aisle, China hawks worry that TikTok's algorithm could be used to catalyze opposition to the American way of life, and indoctrinate U.S. teens into Chinese ways of thinking-or nudge public opinion to be more favorable to the Chinese regime."
Donald Trump finalized a deal that will give Oracle, Silver Lake, and MGX part-ownership of a joint venture to oversee TikTok's U.S. operations. Concerns about TikTok's Chinese ownership prompted national-security warnings that the app's algorithm could influence U.S. public opinion and indoctrinate teens. Trump previously sought to ban TikTok outright, but courts blocked that effort. The administration shifted toward changing TikTok's ownership instead of an outright ban. The finalized deal may not guarantee full American control of the platform. The outcome resembles a commercial carve-out or shakedown that secures U.S. financial and operational interests.
Read at Fast Company
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