Hi, this is Wayne again with a topic “The TikTok ban is looking more and more like it could actually happen | TechCrunch Minute”.
The push to force Tik Tok to part ways with its Chinese parent company or otherwise face a ban in the US, is picking up steam and Tik Tok users. Well, they’re, not happy! Now the US House of reps just passed a bill that would ban Tik Tok unless it separates itself from the Chinese owned bite dance. This has users freaking out. If the Senate also signs off on this bill, it will head to the desk of the president, who has said he will sign it if it makes it that far. Why are people worried about Tik Tok getting banned because, though it could be sold by its Chinese parent company resolving the entire issue? The Chinese government has made lots of noise saying that it will not allow a sale part of the reason for that is, of course, geopolitics, but part of it is something else. Technology, according to analysts.
A key issue here is the apps secret sauce or its algorithm, which the Chinese government would not want to sell to the US now. The algorithm is: what brings you more of the content you already like and love, which makes Tik Tok so addictive? So, yes, users are worried, but they’re also angry one Tik Tok Creator told techren that, and I quote, people are energized to fight this and are smart and don’t appreciate being belittled and that it’s quote really sad to know that half of America is being told to Shut up by our elected officials, now this push back from users partially organized, I have to admit by Tik Tok itself was so great in volume that it was actually paried on late night television. That’S when you know you really made it to the mainstream.
What’S interesting here is that that Tik Tok could be at a turning point as a business. According to one report, the app is actually losing billions of dollars a year and it’s running in second place to Instagram, so the great Juggernaut that is Tik Tok could be losing some momentum. Investors are trying to pounce on all these killer Trends and behind the scenes at least two investor groups, and, let’s be honest, likely many more – are trying to figure out ways to buy Tik Tok should that opportunity arise just keep in mind that with the sale option, Like a nonstarter, there is a real chance that Tik Tok gets banned this year. There are lots of striding views out there in favor and against, but all that really matters is what Washington thinks and right now one side seems to have all the momentum. .