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0 pointsLeary1y ago0 comments

Trump wants 50% US ownership in a joint venture for Tiktok. Shouldn't be a problem since 60% of bytedance ownership is already non-China (probably a lot of it already US investors - General Atlantic/SIG)

https://truthsocial.com/@realDonaldTrump/posts/1138556168486...

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10 comments · 4 top-level

illusive40801y ago· 3 in thread

Doesn’t matter what he thinks. Executive cannot override legislative action.

metabagel1y ago

The Supreme Court can always say that it can.

pjc501y ago

The law always allowed for divesting to US owners. It didn't specify who.

edoceo1y ago

Executive Order

whatshisface1y ago· 2 in thread

All this and it was only 40% Chinese-owned???

baq1y ago

You seem to think percentage of ownership works the same way in China as in the West. That’s an understandable mistake

thatguymike1y ago

With the algorithm 100% Chinese-operated

roskelld1y ago· 1 in thread

Chinese government has a golden shares deal with Bytedance granting their 1% ownership the ability to nominate a board seat.

https://markets.businessinsider.com/news/stocks/tiktok-ban-b...

LearyOP1y ago

That 1% golden share is in Douyin, the Chinese subsidiary of ByteDance, not ByteDance or Tiktok.

thatguymike1y ago

The ownership of the company is irrelevant, it's who has control of the algorithm and where the data flows. If Tiktok US licenses the algorithm from China (which seems likely) then none of the national security issues are addressed.

j / k navigate · click thread line to collapse