Re:House overwhelmingly votes to ban TikTok if its Chinese o...
by hakfoo on Wednesday March 13, 2024 @10:59PM
(#39700169)
I'm curious what message investor/startup types take out of this.
I bought some Baidu shares (like $500 worth) many years ago and I never heard the end of it from people saying "don't invest in the PRC, they'll nationalize it and leave you holding the bag."
The US is basically doing that exact thing to ByteDance's investors: Forcing a sale guarantees a fire-sale price and investors taking a haircut.
Why would any foreign business want to make a major play in the US after this? Congress might say they're only doing this to rattle sabres with Evil Communist China, but will they find an excuse if the next hot startup comes from, say, Brazil? The Netherlands? Canada?
I bought some Baidu shares (like $500 worth) many years ago and I never heard the end of it from people saying "don't invest in the PRC, they'll nationalize it and leave you holding the bag."
The US is basically doing that exact thing to ByteDance's investors: Forcing a sale guarantees a fire-sale price and investors taking a haircut.
Why would any foreign business want to make a major play in the US after this? Congress might say they're only doing this to rattle sabres with Evil Communist China, but will they find an excuse if the next hot startup comes from, say, Brazil? The Netherlands? Canada?