U.S. and Chinese Officials Reach Deal to Save TikTok from Ban in America
In a significant development that has put an end to the uncertainty surrounding TikTok's operations in the U.S., representatives from both countries have finalized a deal that will see the popular social media app remain available to American users indefinitely.
As per multiple sources, tech giant Oracle, private equity firm Silver Lake, and Abu Dhabi-based investment firm MGX will form a new entity known as the TikTok USDS Joint Venture. This joint venture will oversee TikTok's U.S. operations, with each of the three investors holding a 15% stake in the company.
According to the agreement, Oracle will be responsible for managing TikTok's user data, and the app's content recommendation algorithm will undergo a significant overhaul as part of the retraining and updating process.
The joint venture will operate independently and be governed by a seven-member board of directors that includes prominent figures from both the tech industry and politics. Adam Presser, who previously served as the head of operations and trust and safety at TikTok, has been appointed as the chief executive of TikTok's U.S. business.
This deal marks a significant victory for Trump administration officials who had initially pushed for TikTok to be banned in the U.S. over concerns about data security and potential ties to the Chinese government. The Supreme Court upheld a law that allowed this ban, but President Biden later signed an executive order extending the deadline for a deal, leading to a 14-hour blackout of TikTok services in the U.S.
In a statement on Truth Social, former President Donald Trump expressed his satisfaction with the outcome, saying he had "helped save TikTok" and acknowledging Chinese President Xi Jinping's role in approving the deal. The agreement comes as a relief for American users who rely heavily on TikTok to stay connected with friends and family.
In a significant development that has put an end to the uncertainty surrounding TikTok's operations in the U.S., representatives from both countries have finalized a deal that will see the popular social media app remain available to American users indefinitely.
As per multiple sources, tech giant Oracle, private equity firm Silver Lake, and Abu Dhabi-based investment firm MGX will form a new entity known as the TikTok USDS Joint Venture. This joint venture will oversee TikTok's U.S. operations, with each of the three investors holding a 15% stake in the company.
According to the agreement, Oracle will be responsible for managing TikTok's user data, and the app's content recommendation algorithm will undergo a significant overhaul as part of the retraining and updating process.
The joint venture will operate independently and be governed by a seven-member board of directors that includes prominent figures from both the tech industry and politics. Adam Presser, who previously served as the head of operations and trust and safety at TikTok, has been appointed as the chief executive of TikTok's U.S. business.
This deal marks a significant victory for Trump administration officials who had initially pushed for TikTok to be banned in the U.S. over concerns about data security and potential ties to the Chinese government. The Supreme Court upheld a law that allowed this ban, but President Biden later signed an executive order extending the deadline for a deal, leading to a 14-hour blackout of TikTok services in the U.S.
In a statement on Truth Social, former President Donald Trump expressed his satisfaction with the outcome, saying he had "helped save TikTok" and acknowledging Chinese President Xi Jinping's role in approving the deal. The agreement comes as a relief for American users who rely heavily on TikTok to stay connected with friends and family.
. This deal is a win-win, not just for TikTok but also for Americans who've been left in the dark during the ban. It's interesting to see Oracle, Silver Lake, and MGX come together as investors - it shows that even tech giants can put aside their differences when there's money involved 
. Adam Presser's appointment is a savvy move too; he's got experience handling sensitive issues, so I'm curious to see how this joint venture will shake things up 
. And let's be real, Trump's statement on Truth Social was always going to be a PR stunt 
. But all in all, it's reassuring to know that TikTok will continue to operate in the US, and for that, we should be grateful 
I mean, we're giving Oracle control over our data and making significant changes to the algorithm? It's like they're trying to tailor TikTok to what the US wants instead of just letting it be itself... but at least Adam Presser is in charge now so maybe things will get better 
It's like we're more comfortable being 'safe' than living life. Newsflash: TikTok is here to stay! And what does this say about us? That we trust big tech corporations and their investors way too much. 
Finally some good news about TikTok! I was getting so worried that it was gonna get shut down here 
. I mean, can you imagine not being able to see those cute puppy videos or watch your fave K-pop music vids on demand? 
. But seriously, a joint venture between Oracle and two other firms sounds like a solid plan to ensure TikTok's user data is safe and secure. Let's just hope they don't mess with the algorithm too much... I love scrolling through my For You page and discovering new content 
it's crazy how quickly things can change tho, from ban to partnership in like 14 hours 
i feel bad for the people who had their accounts locked out during that blackout 
but at least this way tiktok can continue to serve us with all the endless videos and dances 
️ what's next, though? will they make some changes to the app's algorithm or keep it pretty much the same? 
The Supreme Court did seem kinda harsh, though. Guess they had to take matters into their own hands. Adam Presser seems like a solid choice for CEO, though - he's got some experience with trust and safety. Anyway, now that this deal is done, I'm guessing TikTok will just keep on truckin' 
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, but let me tell you, this is just a temporary reprieve 
. We're still talking about some pretty sketchy stuff going on behind the scenes 
. Sounds like a bunch of industry insiders and politicians just getting together to make more money off our data 
.
, but let's keep an eye on this deal and see what else is hiding in the fine print 
but at least tiktok will be able to stay in the us 
. I'm glad it all worked out in the end for users like me who love using the app to stay entertained and connected. But, gotta wonder, what about the security concerns and all that? Is this deal really gonna address those issues or was it just a PR move 
like can we just give tiktok a break already? i mean dont get me wrong, concerns about data security are valid but its not like theyre just gonna spy on us or something 
now let's see if they actually overhaul the algorithm as promised 
one thing for sure, it's a huge weight off americans' shoulders 
. The fact that Oracle is taking over data management and retraining the algorithm is a big deal, I guess? It's like, better safe than sorry right? 
But honestly, I'm not sure how much of an impact this will have on users like me who are just here for the entertainment value 
. Still, it's good to see things wrapped up and American users can get back to their For You pages 
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. Now, let's get back to our daily lives and keep on dancing 
but still kinda weird that trump was all up in arms about chinese ties lol what's the real tea on that tho? 
is tiktok really gonna be safe for us or just another app with a fancy new home 
! But for now, let's all celebrate 
and enjoy using our TikTok app worry-free