Oracle Wins Bid for TikTok But Still Seeks Political Approval
The race to buy Gen Z’s favorite social media app, TikTok, has been front and center in the past few weeks. Finally, TikTok’s Chinese parent company, ByteDance, struck a deal with Oracle after turning down bids from Microsoft and Walmart. As President Trump’s ban of TikTok looms this weekend, US officials still need to…
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The race to buy Gen Z’s favorite social media app, TikTok, has been front and center in the past few weeks. Finally, TikTok’s Chinese parent company, ByteDance, struck a deal with Oracle after turning down bids from Microsoft and Walmart. As President Trump’s ban of TikTok looms this weekend, US officials still need to sign off on the deal and address whether it assuages national security concerns, according to CNBC. If Oracle still uses Chinese source code as part of the app, Silicon Valley critics argue the acquisition won’t change the initial dynamics that drew concern over Chinese use of American data.
On this Business Casual snippet, hosts Daniel Litwin and Tyler Kern weigh in on whether the deal will appease US officials enough to go through. Whatsmore, why is TikTok the data collection platform faced being most scrutinized over ethical information handling?
KEY POINTS:
- TikTok strikes deal with Oracle for a minority stake in the app’s US-based brand.
- For many critics, the deal does little to qualm Chinese oversight concerns.
- What are the various factors motivating US political leaders’ very public discourse around TikTok?
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