Biden signs TikTok 'ban' bill into law, starting clock for ByteDance to divest

Re:Biden signs TikTok 'ban' bill into law, starting clock fo... by stale2002 on Wednesday April 24, 2024 @04:27PM (#40149165)

> Why would the company convert their main product into a competitor?

Thats easy to answer.

The reason why is because they'd get paid 10s of billions of billions of dollars for it, and otherwise their investment would massively lose a large amount of value otherwise.

Also, bytedance wouldn't be competing with tiktok anymore in those markets as they'd have sold it off.

So the choice is either to make a bunch of money, or to instead have their investment become worthless.

[ Parent | on HN ]

Re:Biden signs TikTok 'ban' bill into law, starting clock fo... by ralfd on Wednesday April 24, 2024 @04:48PM (#40149429)

But would a new US-Tiktok not try to expand globally? Original-China-TikTok would then compete with US-Tiktok in Europe and elsewhere.

[ Parent | on HN ]

Re:Biden signs TikTok 'ban' bill into law, starting clock fo... by stale2002 on Wednesday April 24, 2024 @05:52PM (#40150179)

No, because "original tiktok" has a different name in China and doesn't compete significantly outside of China.

The tiktok that you know about is the international app that already doesnt compete with the rest of bytedance.

[ Parent | on HN ]