"The dumbest part: The Trump administration's brokered solution to keep the app in the United States risks turning it into yet another once-great social media platform. Here's the latest, as of Monday: The White House is brokering a deal for TikTok (or at least, a version of it) to be cleaved off from its Chinese parent company, Bytedance, and transferred to American ownership."
"So far, we know that Oracle, which already provides cloud storage in the US for TikTok, would take a stake and control a copy of the all-important algorithm Bytedance hands over. Other investors potentially include private equity firm Silver Lake, tech investing firm Andreesen Horowitz and the Murdoch-owned Fox Corp. You don't have to squint too hard to catch a theme here:"
"Under the deal, Oracle would, in cooperation with the government, monitor the US algorithm to ensure content is free from improper manipulation or surveillance, according to a senior White House official. Key background: All of this is happening because former President Joe Biden passed a bipartisan bill US lawmakers passed, forcing the sale or ban of the video-sharing app in April of 2024, based on largely hypothetical national security concerns."
Negotiators are arranging a deal to separate TikTok's US operations from parent ByteDance and transfer those assets to American ownership. Oracle, which already provides TikTok's US cloud storage, would take a stake and hold a copy of the recommendation algorithm, with potential investors including Silver Lake, Andreesen Horowitz and Fox Corp. Several prospective owners have political and media ties to former President Trump and conservative interests, creating political optics. Under the arrangement, Oracle would cooperate with the government to monitor the US algorithm for manipulation or surveillance. The sale requirement arises from a bipartisan 2024 law that forced TikTok's sale or ban on national security grounds.
Read at www.mercurynews.com
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