WOAT deal: TikTok to keep 80% of US operations and promises to fund White Supremacy education

[Professor Emeritus]

How you claim you forcing China to sell when they still retain ownership?

He's giving 20% of the company to one of his donors though.

And Trump taking a $5 billion mafia cut to start his "patriot" school curriculum.

1. Although the Chinese government objected to an outright sale of TikTok and its valuable algorithm, the deal supposedly gives American companies and investors 53 percent of the equity in the new company—what the administration can pitch as “American control.” The New York Times reports, however, that ByteDance will hold an 80 percent stake in the new company. It’s only when you count the investors like Sequoia Capital and Coatue Management that already had ByteDance stakes that it looks like majority U.S. ownership. At a rally in Fayetteville, North Carolina, on Saturday, Trump said, “It’ll be a brand-new company. It will have nothing to do with any outside land, any outside country. It will have nothing to do with China.” Instead, it appears TikTok Global will very much still be a Chinese company.

2. Oracle beat out Microsoft for ByteDance’s favor as it scrambled to put together the least disruptive deal that would persuade Trump to sign off. Microsoft, which already runs one social network and has plenty of experience with consumer-facing products, seemed like the obvious buyer, assuming TikTok would sell. Since it wouldn’t, enterprise-focused Oracle offered ByteDance something else tantalizing: a Trump connection. Oracle co-founder Larry Ellison is a major Trump supporter, has hosted high-dollar campaign fundraisers, and reportedly helped put the whole hydroxychloroquine idea in the president’s head. Oracle CEO Safra Catz and executive vice president Ken Glueck have also donated to Trump and served on the administration’s transition team after 2016.* Since then, the administration has repeatedly gone to bat for Oracle’s interests, as my colleague Aaron Mak recently recounted.

3. After he threatened to ban TikTok, Trump said that a deal should include a “very substantial” finder’s fee for the U.S. Treasury. That would be unusual for any negotiation between two private companies, but now it might be worse. On Saturday, Trump said TikTok would “be making about a $5 billion contribution towards education,” which would go into a fund to teach “the real history, not the fake history” of the United States. The president has lately been attacking the 1619 Project, the New York Times Magazine package and education curriculum about the role of slavery in America’s founding—a baffling, nakedly political concern of Trump’s that has nothing to do with tech policy or trade.

The TikTok Deal Stinks

This is the most openly corrupt presidency ever.

 

[Professor Emeritus]

The back-and-forth of the TikTok deal has been rocky, but President Donald Trump is certain that he wants to use the deal to create a $5 billion fund to "educate people" about the "real history of our country."

"I think Walmart is going to buy it along with Oracle," Trump said on Saturday at a rally in Fayetteville, North Carolina. He went on to say that as part of the deal, he requested "$5 billion into a fund for education so we can educate people as to real history of our country — the real history, not the fake history."

In his speech, Trump attacked the 1619 Project, an ongoing New York Times project created in August 2019 on the 400th anniversary of the beginning of American slavery. The project "aims to reframe the country's history by placing the consequences of slavery and the contributions of black Americans at the very center of our national narrative," according to the New York Times.

Trump, reacting to reports that the 1619 projects would be taught in California schools, wrote on Twitter in early Sept., "Department of Education is looking at this. If so, they will not be funded!"

It's important to note that, if the deal proceeds, the newly created TikTok company would control the money in the fund and decide how it's invested.

Wait, so CHINA is going to be in charge of the anti-Black curriculum for American schoolkids?

 

[Pressure]

Free insight to the Trump org business model.

 

[humminbird]

Wait, so CHINA is going to be in charge of the anti-Black curriculum for American schoolkids?

They don’t know about it

this deal was the biggest waste of time ever

 

[G.O.A.T Squad Spokesman]

Got damn black folk in America are fukked

 

[theworldismine13]

It only really matters where the servers are located and who controls the servers. Chinese companies are beholden to the government there is no such thing as a warrant in China, if the government tells them to hand over the data they have to turn it over

 

[theworldismine13]

The education part is some weird sh*t

 

[MajesticLion]

Shakedown.

 

[Professor Emeritus]

It only really matters where the servers are located and who controls the servers. Chinese companies are beholden to the government there is no such thing as a warrant in China, if the government tells them to hand over the data they have to turn it over

That's a tomato tamato difference from what the USA has been doing since the Patriot Act was in place.

What's China gonna do with our data that American companies/government ain't already trying to do? "Oh no, the Chinese government knows where I uploaded that TikTok video! Now they're gonna send a spy over and try to find my weed!" They don't give a shyt about us fools on the street like that. There's a 10x more likely chance you gonna be fukked over/stolen from/arrested/manipulated by an American company or US government organization having your data than some random Chinese corporation.

 

[ultraflexed]

Got damn black folk in America are fukked

Are...
Where you been at the past 300+ years

 

[mykey]

Is there anything Trump can get right? Worst president ever.

 

[Houston911]

There are mafia bosses who were less crooked than trump

he should be impeached off this alone

this is really some shyt out of a movie. He just completely disregards morality and the law.

 

[G.O.A.T Squad Spokesman]

Are...
Where you been at the past 300+ years

shyt ain't never been this bad for us in my lifetime. I never had a president out for my people like this in my lifetime.

 

[ultraflexed]

shyt ain't never been this bad for us in my lifetime. I never had a president out for my people like this in my lifetime.

How old are you?

 

[Blessed Koala]

Yall better get hip to this before Trumps locks the gates. Dude fitting to turn this bytch into Jonestown while Coli brehs doing the same ole two keystroke struct while they PAWG ODing in JBO