Re:The TikTok ban is a betrayal of the open internet
by Jochim on Tuesday March 28, 2023 @05:47PM
(#35348407)
> And they're not a security threat to China because they're controlled by their shareholders, not the government. Shareholders who will not want to throw their entire investment into the toilet.
Bytedance is majority owned by foreign shareholders:
> ByteDance says 60% of its shares are owned by non-Chinese investors such as U.S investment firms Carlyle Group and Kohlberg Kravis Roberts and Japan's SoftBank Group. Employees own 20% and its founders the remaining 20%.
Tim Cook just went all the way over there to kiss their feet: https://nypost.com/2023/03/27/tim-cook-touts-apples-symbioti...
And he doesn't have a choice. Google took a stand and had to give up its position in the Chinese market. But Apple as a manufacturer will have to give up their entire business if they go against China.