You’ve heard the rumours I’m sure but as usual its Chinese whispers. I will let you into a secret or not so secret if you dig into where the rumours started. Its fair to say the TikTok community and especially influencers were left shaken when they saw Trump was going to ban the platform to stop private information being put into the hands of the Chinese Communists Party.
“This data collection threatens to allow the Chinese Communist Party access to Americans’ personal and proprietary information – potentially allowing China to track the locations of Federal employees and contractors, build dossiers of personal information for blackmail, and conduct corporate espionage.”
This ban on TikTok is the usual media frenzy and if you believe the one about devaluing the company some of the following may make sense in some way. The following is what really went down.
Let me say first off America is not banning TikTok yet… the rumour was that Trump has signed an executive order that bans TikTok in 45 days. He did not do this; however, he did sign an order that in 45 days US businesses are prohibited from doing transactions or business with TikTok IF… a deal has not been made by a US company to purchase TikTok US. Totally different concepts.
Yep this is a hostile takeover guys…
TikTok, in its response, did not hold back in criticizing the US Government’s approach.
In a statement on its blog, TikTok said that it was “shocked'” by Executive Order, which it claims has been issued without any due process.
“For nearly a year, we have sought to engage with the US government in good faith to provide a constructive solution to the concerns that have been expressed. What we encountered instead was that the Administration paid no attention to facts, dictated terms of an agreement without going through standard legal processes, and tried to insert itself into negotiations between private businesses.”
This statement refers to the fact that Trump will be getting a large portion of the pie which will go to the US Treasury when the deal goes through as a finders fee.
The debate goes on as to if this is actually legal to stop business’s working with TikTok? However, TikTok after many hours with their lawyers are ready to counteract with threatening a lawsuit against the US because they are being forced out.
What will happen?? Who knows but I can’t see TikTok being forced out that easy, it could be that they sell to the highest bidder or starting the lawsuit?
Microsoft and Apple are in the running for negotiation deals to get their mits on TikTok.
Meanwhile, Instagram is sneaking up behind to fill the gap… ever the opportunists.