Bye-bye algorithm?
ByteDance has repeatedly stated it has no desire to sell TikTok, however, the company may be willing to compromise. Board member Bill Ford told Bloomberg Television on Jan. 23 that ByteDance is exploring options that would ensure TikTok complies with U.S. legislation, including shifting control, without making a sale.
“We’re quite optimistic we’ll find a solution,” Ford said. “There’s a number of alternatives that we can talk to President Trump and his team about that are short of selling the company that actually would allow the company to continue to operate, maybe with a change of control of some kind, but short of having to sell.”
Meanwhile, O’Leary has been persistent in his campaign to buy the U.S. arm of the platform — even without its prized algorithm in place.
“We’re prepared to put up as much as $20 billion, and we don’t need the algorithm. We don’t want the algorithm,” O’Leary told Yahoo! Finance of The People’s Bid on Jan. 10.
But this strategy isn’t without criticism. Some fear that without TikTok’s powerful algorithm, creators who rely on the app for income might struggle to monetize their content or promote their business if the algorithm changes.
O’Leary doesn’t seem too concerned, posting on X that he plans to “make TikTok wonderful again.”
In addition to ByteDance’s reluctance to make a sale, however, there may be other hurdles.
Invest in real estate without the headache of being a landlord
Imagine owning a portfolio of thousands of well-managed single family rentals or a collection of cutting-edge industrial warehouses. You can now gain access to a $1B portfolio of income-producing real estate assets designed to deliver long-term growth from the comforts of your couch.
The best part? You don’t have to be a millionaire and can start investing in minutes.
Learn MoreThe future of TikTok
The U.S. TikTok ban — driven by concerns over the company’s ties to Chinese ownership — was scheduled to take effect Jan. 19. The platform did indeed shut down for American users, but only for about 12 hours. TikTok flickered back to life on screens nationwide and attributed its return to then-President-elect Trump, who earlier in the day promised to delay enforcement of the law banning the app upon his inauguration Jan. 20. Trump signed an executive order to do just that on the day he was sworn into office.
His statement and the events that followed immediately drummed up controversy. It’s unclear, legally speaking, if the now-president had the authority to move the ban’s start date after it took effect. The law threatened severe financial penalties if companies supported the app during the ban. However, it has been reported the Biden administration would leave enforcement of the law up to Trump.
On top of that, Trump also wrote: “I would like the United States to have a 50% ownership position in a joint venture. By doing this, we save TikTok, keep it in good hands and allow it to stay up.” The details of such a plot remain unclear.
Some experts believe this entire situation could leave any efforts to make a deal for the platform open to legal challenges, which O’Leary is wary about.
“I would love to do a deal if the law provided for it,” he told CNBC on Jan. 21.
In any case, the long-term fate of TikTok in the U.S. remains uncertain.
The richest 1% use an advisor. Do you?
Wealthy people know that having money is not the same as being good with money. Advisor.com can help you shape your financial future and connect with expert guidance . A trusted advisor helps you make smart choices about investments, retirement savings, and tax planning.
Try it now
