TikTok attacks US senators and billionaires as ban looms

Growing uncertainty about the future of TikTok and the powers of the federal government makes this a vulnerable time for the social media giant. Even a Shark tank The billionaire is licking his lips and preparing a buyout offer. US lawmakers, meanwhile, think it may be the app’s users who are swimming with the sharks.

On March 22, Democratic Senator Richard Blumenthal and Republican Senator Marsha Blackburn formally requested the Office of the Director of National Intelligence to declassify information about the platform’s threat to national security and make their concerns known to the public.

“We are deeply troubled by the information and concerns raised by the intelligence community in recent classified briefings to Congress. TikTok is a weapon in the hands of the Chinese government and represents an active risk to our democratic institutions and national security,” the senators said. wrote. “As Congress and the Administration consider steps to address TikTok’s ties to the Chinese government, it is critically important that the American people, especially TikTok users, understand the national security issues at stake “We therefore urge you to declassify information about TikTok and ByteDance, and their links to the Chinese government’s influence and espionage activities, to better educate the public on the need for urgent action.”

Over the past week, various government leaders and members of the intelligence community have alluded to potentially damning information shared with them amid a debate over TikTok’s ownership and its threat to American users. But despite all the grandstanding, no specific information has been released, and other members of the Senate and House have clarified that they believe the security warnings presented to them apply to a multitude of applications . Examples given include app permissions like keystroke tracking and microphone access – senators like Blackburn and Blumenthal hint at larger “spying” attempts.

The Senate body is in the midst of discussion over the Protecting Americans from Foreign-Controlled Apps Act, a so-called national security effort aimed at limiting U.S. distribution of apps owned by countries foreigners who may pose cybersecurity problems. The bill, passed by the House on March 13, was denounced as a violation of free speech and business protections by TikTok users and civil liberties advocates.

If passed again, the bill would require TikTok to divest from its parent company ByteDance in favor of ownership by an entity that is not a foreign (read: non-Chinese) adversary.

In response to the House consensus and general confusion about the bill’s potential impact, TikTok CEO Shou Zi Chew used the app to clarify his position: “This legislation, if signed into law , will lead to a ban on TikTok in the United States. Even the bill’s sponsors admit that this is their goal. This bill gives more power to a handful of other social media companies. » The platform’s official statement made sure to also highlight the term “ban”, writing: “This process was secret and the bill was passed for one reason: it is a ban. We hope the Senate will look at the facts, listen to its constituents, and realize the impact on the economy, on 7 million small businesses, and on the 170 million Americans who use our service. »

TikTok’s commitment to rallying its enthusiastic users like troops and fighting the legislation in court hasn’t put off potential investors, nor has the general consensus that ByteDance will choose not to sell TikTok and get out of the business. American market.

Famous Canadian businessman Kevin O’Leary, known for his role as a hard-working tycoon on the hit business show Shark tankannouncement intention to purchase the platform just this week. O’Leary is assembling a syndicate and an initial offer of $20 billion to $30 billion, a 90 percent reduction from his $220 billion valuation last year. In a conversation on CNBC’s “Street Signs Asia,” O’Leary said he would not expect ByteDance to include its users’ algorithms or data in the sale, and would instead attempt to “reimitate” with US code and government approval. .

The “shark” said he has already met with controversial presidential candidate Donald Trump about the potential purchase and is working to open the door to President Joe Biden soon.

“This is the most complex deal ever in social media and I have to build a new algorithm,” O’Leary said. “It’s a very interesting deal and I appreciate it.”