"President Donald Trump signed an executive order on Thursday declaring that his plan to sell Chinese-owned TikTok's U.S. operations to U.S. and global investors will address the national security requirements in a 2024 law. The new U.S. company will be valued at around $14 billion, Vice President JD Vance said, putting a price tag on the popular short video app far below some analyst estimates."
""There was some resistance on the Chinese side, but the fundamental thing that we wanted to accomplish is that we wanted to keep TikTok operating, but we also wanted to make sure that we protected Americans' data privacy as required by law," Vance told reporters at an Oval Office briefing. Trump's order says the algorithm will be retrained and monitored by the U.S. company's security partners, and operation of the algorithm will be under the control of the new joint venture."
An executive order declares that a plan to sell TikTok's U.S. operations to U.S. and global investors will satisfy 2024 national security requirements. The new U.S. company is expected to be valued around $14 billion, according to Vice President JD Vance. Enforcement of the law banning the app without a sale was delayed until January 20 to allow extraction of U.S. assets, recruitment of American and other investors, and Chinese government approval. The order states the recommendation algorithm will be retrained and monitored by U.S. security partners and operated by the new joint venture. ByteDance will establish a U.S. company to handle e-commerce, branding, and international interconnection, while additional operational details remain to be finalized.
Read at Fast Company
Unable to calculate read time
Collection
[
|
...
]