Trump backs down on TikTok

BlueTex said:

After weeks of rumor and speculation, the Trump administration this weekend gave TikTok's parent company, Beijing-based ByteDance, 45 days to sell off the social media sensation or else stop operating in the United States—and Microsoft looks to be the buyer.

Microsoft on Sunday confirmed what several media outlets had been speculating since Friday, saying it is in talks to buy TikTok's operations in the US, Canada, Australia, and New Zealand and may also invite other US investors to take minority stakes in the deal.

Trump administration gives TikTok 45 days to sell to Microsoft or leave US | Ars Technica

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BlueTex said:

After weeks of rumor and speculation, the Trump administration this weekend gave TikTok's parent company, Beijing-based ByteDance, 45 days to sell off the social media sensation or else stop operating in the United States—and Microsoft looks to be the buyer.

Microsoft on Sunday confirmed what several media outlets had been speculating since Friday, saying it is in talks to buy TikTok's operations in the US, Canada, Australia, and New Zealand and may also invite other US investors to take minority stakes in the deal.

Trump administration gives TikTok 45 days to sell to Microsoft or leave US | Ars Technica

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Rexedgar said:

What do you suppose Trump means by the large bolded?

Speaking at the White House on Monday, Mr. Trump said that TikTok would shut down on Sept. 15 unless Microsoft or another company purchased it. He added that the U.S. Treasury Department would need to receive a lot of money in return for the deal, without explaining how that would work. - from NYT

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SenorXm/Sirius said:

Just shutting it down must not have been good enough for him, his crime family, and his cronies to make money.

This gives him 45 days to come up with another way to make a buck.

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Rexedgar said:

What do you suppose Trump means by the large bolded?

Speaking at the White House on Monday, Mr. Trump said that TikTok would shut down on Sept. 15 unless Microsoft or another company purchased it. He added that the U.S. Treasury Department would need to receive a lot of money in return for the deal, without explaining how that would work. - from NYT

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BlueTex said:

He apparently tried to explain his concept this morning...


I did say that if you buy it, whatever the price is, that goes to whoever owns it, because I guess it’s China, essentially, but more than anything else, I said a very substantial portion of that price is going to have to come into the Treasury of the United States. Because we’re making it possible for this deal to happen. Right now they don’t have any rights, unless we give it to ’em. So if we’re going to give them the rights, then it has to come into, it has to come into this country.

It’s a little bit like the landlord-tenant [relationship]. Uh, without a lease, the tenant has nothing. So they pay what is called “key money” or they pay something. But the United States should be reimbursed, or should be paid a substantial amount of money because without the United States they don’t have anything, at least having to do with the 30%.

Trump calls TikTok a hot brand, demands a chunk of its sale price – TechCrunch


I think this is called extortion in most jurisdictions...

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BlueTex said:

He apparently tried to explain his concept this morning...


I did say that if you buy it, whatever the price is, that goes to whoever owns it, because I guess it’s China, essentially, but more than anything else, I said a very substantial portion of that price is going to have to come into the Treasury of the United States. Because we’re making it possible for this deal to happen. Right now they don’t have any rights, unless we give it to ’em. So if we’re going to give them the rights, then it has to come into, it has to come into this country.

It’s a little bit like the landlord-tenant [relationship]. Uh, without a lease, the tenant has nothing. So they pay what is called “key money” or they pay something. But the United States should be reimbursed, or should be paid a substantial amount of money because without the United States they don’t have anything, at least having to do with the 30%.

Trump calls TikTok a hot brand, demands a chunk of its sale price – TechCrunch


I think this is called extortion in most jurisdictions...

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Mr Person said:

"Because we’re making it possible for this deal to happen."

He actually said that? This nightmare needs to end yesterday.

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Among other measures, Microsoft would ensure that all private data of TikTok’s American users is transferred to and remains in the United States. To the extent that any such data is currently stored or backed-up outside the United States, Microsoft would ensure that this data is deleted from servers outside the country after it is transferred.

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Under the proposed deal, Microsoft said it would take over TikTok’s operations in the United States, Canada, Australia and New Zealand. It said it would ensure that all private data of TikTok’s American users is transferred to and remains in the United States.

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TobyOne said:

Its good that MSFT is buying it. That means it will be buggy to the point of uselessness in about 2 weeks.

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Rexedgar said:

What do you suppose Trump means by the large bolded?

Speaking at the White House on Monday, Mr. Trump said that TikTok would shut down on Sept. 15 unless Microsoft or another company purchased it. He added that the U.S. Treasury Department would need to receive a lot of money in return for the deal, without explaining how that would work. - from NYT

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Sabre said:

Hardly a flip-flop, you libs just do not understand his art of the deal strategies. Trump is giving the users of TikTok a way to keep the app they enjoy and secure it.

From: the article (if you bothered to read it)



This is because of the security problems if China remains in control.


Exclusive: Trump gives Microsoft 45 days to clinch TikTok deal - Reuters

So where is the problem? It gives the users a way to keep TikTok, secures it from the reaches of China and allows a US company to to expand their portfolio and keep profits from the app here instead of China.

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