Posted on 12/09/2024 4:27:03 PM PST by MinorityRepublican
An Appeals Court on Friday upheld a law that would force TikTok owner ByteDance to sell the popular short-form video app or see it banned throughout the country. The law doesn’t specifically ban TikTok but blocks app stores like Apple’s (AAPL) App Store or Google's (GOOG) Play Store from distributing it unless ByteDance divests itself from the social network.
While the decision is a setback for TikTok, it’s not the end of the story. ByteDance is expected to appeal the law to the Supreme Court, which will make the ultimate call on the matter. If the law ultimately moves forward, it would be a huge blow to TikTok content creators, advertisers, and the app’s 170 million users.
But one company will undeniably benefit from a TikTok ban: Mark Zuckerberg’s Meta (META).
The tech giant is not only TikTok’s largest competitor but also the closest mainstream social media app with a similar user base and feature set. Meta designed Reels, which Zuckerberg has repeatedly talked up during the company’s earnings calls, as a means of combating the rise of TikTok.
Instagram introduced Reels in 2020, positioning it as a way for users to explore more of the content available on the photo- and video-sharing app.
(Excerpt) Read more at finance.yahoo.com ...
This was the whole point.
Assuming they decide to sell it there are many suitors who would buy it as-is. META could run into anti-trust issues trying to buy it so think anyone from Google to MSFT to AAPL to Oracle to Barry Diller’s company that owns all those dating apps. Maybe others like Disney or the Murdochs using their Disney cash.
They're not selling. TikTok is big enough that they no longer need the U.S. market.
META could run into anti-trust issues trying to buy it
They have a TikTok Clone. It's called Reels. Even if it's a decent product, people are reluctant to use it because of the owner.
Democrats would be really pissed if...
either NewsCorp/FOX or Musk/X bought the American version of TikTok. Content would have to change a bit.
It will also be a big blow to Chinses MSS (think KGB) and their Intelligence network.
Yeah, Reels sucks. Meta mostly sucks. I guess the younger set likes instagram. Youtube has Shorts, it’s the same thing but also doesn’t have a lot of traction. They dumped their Facebook style social media platform years ago for the same reason. So they could want to buy TikTok. Maybe thr Byte people are willing to give up the US market rather than sell, or maybe enter a licensing agreement for the name. All that aside I am still a little dubious about this law. Don’t blame them for suing and appealing. It seems like an unlawful taking though I don’t know all the ins and outs. At that same time, I don’t blame our Congress for wanting to protect citizens from potentially hostile foreign actors though I don’t really think that’s the entire motivation - maybe more as excuse for protectionism. I’m also concerned that the EU is out to get US tech companies but the problem is a lot of uniparty folk want to do the exact same things - collect data, social credits, tax, and regulate content and speech. Look at what’s going on in the UK fining and jailing people for posts. Thank our Fathers for the 1st Amendment!
That was 100%, the entire reason. Tick-tock is a superior product, and blowing metal out of the water. Only an idiot thinks DC was suddenly worried about national security, or protecting children.
Vertical video posting is scourge on society.
“TikTok is big enough that they no longer need the U.S. market.”
That’s absurd. TikTok is already banned in China (absurd as it sounds), if they are banned in the US, they are cut out of the two largest ecommerce markets. US is the largest market for ad revenue - this will devastate revenue.
Imagine VW getting blocked from selling cars in the US and China. They’d be bankrupt the next day.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.