ByteDance won't sell TikTok, would rather pull it from the US
ByteDance won't sell TikTok, would rather pull it from the US
If you're hoping that the TikTok ban will result in ByteDance selling the social network to stay in the US, we have some bad news.
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while i'm obviously sure it's a bluff, pulling out instead of selling would be the clearest admittance that tiktok is (or at that point: was) not about the profit, but about Chinese influence in the US. the message being "we rather leave a hudred billion dollars on the table than give away our surveillance technology to some US company."
but yeah, they will def. sell if they need to.
There are valid commercial reasons not to go through a forced sale with a ticking time limit, which will inevitably carry a steeply discounted price. Rather than getting robbed, it makes sense to hang on to the company and take profits from the rest of the world.
It's more like their US profits are no match for their Chinese profits. Social media use in China and other Asian countries dwarfs US use.