ByteDance, would retain a stake in the company, but data collection and software updates would be overseen by Oracle
A reasonable JV arrangement (like what PRC offers US platforms) - Trump wants TikTok US to be 50% US owned. 50% US owned =/= 0% PRC owned, which was what Biden and other PRC hawks previously wanted - to basically denationalize a PRC company from PRC.
Which frankly was retarded tier hubris that only US lawmakers makers high on American exceptionalism can make, and delulu Americans think is reasonable. That was never going to fly geopolitically because PRC would never let US normalize that kind of leverage - it's not about relinquishing control. PRC perfectly happy for US to censor the shit out of US TikTok because it only validates their internet model.
Trump as bad as business man as he is just made a not utterly stupid deal. US gets 50% with golden shares to turn TikTok into domestic US propaganda machine like other US platforms (same deal PRC offers to western platforms), PRC/Douyin gets whatever they currnetly have - it's still going to be fundamentally a PRC run company with local US office doing the filtering (censorship) and day to day in US market, despite eventual US propaganda that TikTok got "sold" to US - it's just under US version of PRC JV arrangement.
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A reasonable JV arrangement (like what PRC offers US platforms) - Trump wants TikTok US to be 50% US owned. 50% US owned =/= 0% PRC owned, which was what Biden and other PRC hawks previously wanted - to basically denationalize a PRC company from PRC.
Which frankly was retarded tier hubris that only US lawmakers makers high on American exceptionalism can make, and delulu Americans think is reasonable. That was never going to fly geopolitically because PRC would never let US normalize that kind of leverage - it's not about relinquishing control. PRC perfectly happy for US to censor the shit out of US TikTok because it only validates their internet model.
Trump as bad as business man as he is just made a not utterly stupid deal. US gets 50% with golden shares to turn TikTok into domestic US propaganda machine like other US platforms (same deal PRC offers to western platforms), PRC/Douyin gets whatever they currnetly have - it's still going to be fundamentally a PRC run company with local US office doing the filtering (censorship) and day to day in US market, despite eventual US propaganda that TikTok got "sold" to US - it's just under US version of PRC JV arrangement.
Yes and the US knew that. The goal was to ban TikTok.