TikTok CEO Responds to Biden’s Ultimatum
TikTok’s CEO has responded to the ultimatum given by the Biden administration to sell the popular app.
The company, which is owned by ByteDance, is being pressured to divest or face a ban.
However, the CEO argues that a sale would do nothing to improve US national security as a change in ownership would not impose any new restrictions or data flows.
Instead, TikTok is proposing to use Oracle, an American company, to store user data.
The company promises transparency, accountability, and a firewall between TikTok’s Chinese ownership and its US business, which is widely popular among American teens.
The CEO is set to testify before a House committee next week, and it is expected to be a contentious hearing.
The question on everyone’s mind is who will be willing to pay $50 billion for the risky operation, given the complications that may arise.
Despite this, there is bipartisan agreement that something must be done about China, and TikTok is seen as a small way to address this.
As the situation continues to unfold, it remains to be seen what will happen to the popular app and its millions of users.