Posted on 09/20/2020 11:12:23 AM PDT by SeekAndFind
TikTok's US footprint is saved in a deal that includes Oracle and Walmart owning 20% of a newly formed TikTok Global and an IPO within 12 months.
Oracle said it will be TikTok's cloud provider in a deal that gives it a 12.5% stake in the social media network and a key reference customer. Walmart will own a 7.5% stake and explore the intersection of TikTok and e-commerce.
In a statement, Oracle said "the technical decision" by TikTok was based on the Zoom reference account. However, TikTok, owned by ByteDance, was facing a Sunday shutdown order over security concerns by President Trump. Trump said he approved the deal earlier Saturday. Walmart announced its role in the deal for TikTok's US operations shortly after Oracle. The Department of Commerce said the TikTok ban deadline has been extended by a week to Sept. 27.
More: With TikTok, Oracle hopes its cloud infrastructure business goes viral | ByteDance won't allow TikTok's algorithm to be part of a sale; Microsoft is rejected as suitor | US Commerce Department to ban TikTok and WeChat downloads starting Sept. 20
Oracle CTO Larry Ellison, who touted cloud momentum on the company's first quarter earnings call, said that TikTok will run on Oracle Cloud. CEO Safra Catz said:
Oracle will quickly deploy, rapidly scale, and operate TikTok systems in the Oracle Cloud. We are a hundred percent confident in our ability to deliver a highly secure environment to TikTok and ensure data privacy to TikTok's American users, and users throughout the world.
For Oracle, the cloud deal with TikTok is a win and can give it a higher profile. Should Oracle be able to use its cloud infrastructure to protect and isolate US data, TikTok will equate to a key reference customer. Oracle's Generation 2 Cloud will isolate TikTok Global's operations and respond to security threats autonomously.
While Oracle was looking to the TikTok deal for its cloud business, Walmart is thinking more about e-commerce.
In its statement, Walmart outlined the following:
With the TikTok Global deal complete there are a few moving parts to consider.
Today is ban day for tiktok and WeChat.
These ChiCom apps are surveillance apps.
Will the buyer validate that the ChiCom surveillance capabilities have been removed?
RE: Will the buyer validate that the ChiCom surveillance capabilities have been removed?
Yes, that is a pre-requisite for approval of the purchase, otherwise, what’s the point?
Oracle Corp said on Monday it would team up with China’s ByteDance to keep TikTok operating in the United States, beating Microsoft Corp in a deal structured as a partnership rather than an outright sale.
The Walton family sold out to China long time ago...Target is likely more friendly to the U.S., yet the Left hates Wal-Mart like they tHe Koch Brothers.
How is Walmart owning part of it any different than China owning it?
RE: yet the Left hates Wal-Mart like they tHe Koch Brothers.
One of the Koch brothers is gone.
Awls I know is what my kids do -10 and 13 - and they both look at this TickTock stuff even more than Instagram now
When I look at this crap it’s just a bunch of kids filming themselves doing stupid shit, like sticking something in their nose. Jumping off a bridge
Doing some kind of tricks on their BMX bike or scooter etc. i
TikTok now “knows” what your kids like to and what many of their preferences are.
TikTok employs artificial intelligence to analyze users’ interests and preferences through their interactions with the content, and display a personalized content feed for each user.
TikTok has an algorithm in which they process the user’s preferences based on the videos they “like”, comment on, and also how long they watch the video. Compared to conventional consumer algorithms such as those of YouTube and Netflix with a list of recommended videos, TikTok interprets the user’s individual preferences and provides content that they would enjoy.
The question is -— are these the only things they “know”? What other data from the phone or computer does the App gather?
Fascinating news re Oracle’s Cloud space. Something for AWS to think about.
I don’t have the time for TikTok, but my credit card companies have decades of data on me.
CEO of Oracle Larry Ellison
https://en.wikipedia.org/wiki/Larry_Ellison#Political_involvement
He has donated to both Democratic and Republican politicians,[87] and in late 2014 hosted Republican Senator Rand Paul at a fundraiser at his home.[88][89]
Ellison was one of the top donors to Conservative Solutions PAC, a super PAC supporting Marco Rubio's 2016 presidential bid. As of February 2016, Ellison had given $4 million overall to the PAC.[90] In 2020, Ellison hosted a fundraiser for Donald Trump at his Rancho Mirage estate.[91][92]
RE: but my credit card companies have decades of data on me.
That seems to be the response I get from TikTok defenders. To wit, your data is already with the credit card companies and even the US government, what’s the big deal with TikTok getting your data?
A 20% ownership doesn’t remove what it’s parent company is, does it? It’s parent company can have access to data and information the domestic employees don’t even know about if it remains in their hands.
Like I said above, “I don’t have the time for TikTok” — not defending it.
TikTok won’t be safe to use until it is totally rewritten. It’s CCP code and dangerous to use.
I’m surprised anyone is willing to pay for this garbage. It’s a time waster. How many social media sites are there? I’d think if Oracle and Walmart really want a social media site they could build one and advertise it for less than it will cost them to buy TicTok.
Tick tock. The countdown for the end of the Republic?
Bad move. Tik Tok is Chinese spyware. For national security reasons, it needs to be banned.
tHe Koch Brothers.
One of the Koch brothers is gone.
...
I know...I was trying to show the whole history of it, too.
I never understood why TikTok and WeChat where popular to begin with. If I want to see video, YouTube is the go-to place for, and WhatsApp and Hangouts are the go-to for chat.
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