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The Future. A bipartisan bill to force ByteDance to sell TikTok’s operations in the US or face a ban is making its way through Congress… and has enough wind in its sails to potentially become law. If ByteDance does decide to sell, it would be a deal worth hundreds of billions of dollars, potentially making it the biggest acquisition deal in modern history.
Anger over the algo
With the “Protecting Americans from Foreign Adversary Controlled Applications Act” unanimously passing the House Energy and Commerce Committee, the stage is set for TikTok to be forced to log off in America.
- Voting in the House of Representatives starts tomorrow, where it’s expected to pass, and then it’s off to the Senate.
- President Biden stated that, if the bill hits his desk, he’ll sign it… which could fuel the Senate to pass it.
- That’s made big names in tech and media especially interested, including former Activision Blizzard Bobby Kotick, who floated partnering with OpenAI CEO Sam Altman on a bid.
Is a potential sale from ByteDance or full-on ban in the US really possible? It’s been floated since 2020 during Donald Trump’s presidency and has led to endless efforts to avoid those fates.
But after TikTok urged users to call their representatives and protest the bill, lawmakers seem more convinced that they should pull the trigger.
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