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TikTok deal with Oracle and Walmart is approved - Update: Court grants TikTok temporary injunction against US app-store ban

Delicieuxz

September 27 update:

 

8 minutes ago, Delicieuxz said:

Federal judge blocks Trump’s effort to ban TikTok from US app stores

Quote

A US District judge has made an 11th hour intervention to block a federal government order prohibiting downloads of TikTok from app stores by American users.


U.S. District Judge Carl Nichols issued a preliminary injunction, that would allow the popular app to still be on offer in Apple and Google stores, shortly before the ban was supposed to go into force on Sunday midnight. Earlier in the day, Nichols allowed a 90-minute hearing, where a lawyer representing TikTok made the case for it remaining available to users in the US.

 

While the court sided with TikTok’s parent company, ByteDance, on the issue of US app stores, it stopped short of blocking looming Commerce Department restrictions that are set to come into force on November 12.


I guess negotiations with Oracle are still finalizing.

 

 

Original post:

 

Just one day before the ban was to take effect, the pendulum has swung again.

 

Oracle to Take 12.5% Stake in TikTok Global, Walmart Eligible to Get 7.5%

Quote

Oracle said it will take a 12.5% stake in the new TikTok Global, a U.S.-based entity formed from the Trump administration’s demand that the popular video app’s Chinese parent company, ByteDance, divest its U.S. operations to American owners.

...

TikTok said in a statement Saturday that it also is working with Walmart on a “commercial partnership.” Oracle and Walmart will be take up to a 20% combined stake in a pre-IPO financing round for TikTok Global (meaning Walmart may take up to 7.5% of the new company).

 

Trump Gives TikTok-Oracle Deal His ‘Blessing’ to Continue Operating in US

Quote

President Trump says he approved “in concept” a deal that would continue to allow TikTok to continue operating in the U.S., in which the Chinese-owned company would partner with Oracle and Walmart to become a U.S. based company.

...

“They’re going to report the full scope of the deal very soon, very soon. But it’ll be totally controlled by Oracle and WalMart,” Trump added Saturday. He further said (via the Wall Street Journal) that the deal would produce 25,000 new jobs, mainly in Texas, and that the two companies would be setting up a $5 billion fund to educate young Americans, but did not expand on those details.

 

The Chinese company ByteDance, which owns TikTok, must now sign off on the deal before anything goes forward, and it would still need approval from both Chinese authorities and the Treasury Department-led Committee on Foreign Investment.

 

Oracle had taken the lead in the acquisition for a proposed deal of $20 billion in cash and stock at the end of August, TheWrap has learned.

 

Trump has approved a deal between Walmart, Oracle and TikTok so the app won't be banned

Quote

Trump told reporters the news Saturday as he left the White House, saying that the combined company is "conceptually" a great deal for the U.S. The new company will continue to go by the name TikTok, Trump said. And it would be headquartered in Texas and employ at least 25,000 people, he added.

 

"I have given the deal my blessing, if they get it done that’s great, if they don’t that’s OK too," Trump said. "We'll see whether or not it all happens but conceptually I think it's a great deal for America.

 

In an emailed statement, TikTok said it's pleased that the proposed deal between the three companies settles questions around the app's future in the states.

 

"We are pleased that the proposal by TikTok, Oracle, and Walmart will resolve the security concerns of the U.S. Administration," TikTok said. 

 

US Department of Commerce Statement on Delayed Prohibitions Related to TikTok

Quote

In light of recent positive developments, Secretary of Commerce Wilbur Ross, at the direction of President Trump, will delay the prohibition of identified transactions pursuant to Executive Order 13942, related to the TikTok mobile application that would have been effective on Sunday, September 20, 2020, until September 27, 2020 at 11:59 p.m.

 

 

When it was reported that the ban on TikTok was going ahead, I suspected that Trump hadn't yet reviewed the proposed ByteDance and Oracle partnership. That may have been the case, as Trump is now saying he approves of the deal "in concept".

 

Previous news reports said that Oracle wasn't actually acquiring TikTok but was only partnering with them to handle their US operation, which would presumably remain owned by ByteDance. However, a bid of $20 billion sounds like it would purchase a whole lot of TikTok. And I don't recall hearing of Walmart being part of the deal before, so I wonder what their role as a "commercial partner" will entail.

 

I still haven't ever actually viewed TikTok. However, I approve of it surviving in the US and continuing to be owned by ByteDance, in concept. And also of it continuing to stick it to Zuckerberg as it takes away from Facebook's market-share, which, apparently, is what prompted Zuckerberg to create the whole TikTok scare in the first place.

 

And I'm glad that I've, so far, not heard any mention of the US deal involving TikTok's operations in other countries, like New Zealand, Australia, and Canada, which Microsoft had wanted to include in its own potential purchase of the company's US operations.

 

 

Also, all this said, the Chinese government still needs to give its own approval to the deal.

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From a business stand point it should be in the best interest of the US to buy/take over the US operations of TikTok and not outright ban it.

You can take a look at all of the Tech that I own and have owned over the years in my About Me section and on my Profile.

 

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If I could just play Videogames and consume Cool Content all day long for the rest of my life, then that would be sick.

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49 minutes ago, soldier_ph said:

From a business stand point it should be in the best interest of the US to buy/take over the US operations of TikTok and not outright ban it.

25,000 jobs can have a large impact. Just go spend time in an old textile town and see what happens when a few thousand or hundred people get laid off because "the plant closed down".

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3 hours ago, Beskamir said:

I'm really hoping Oracle manages to kill this clock app off for good.

It could. Oracle does have a history of destroying otherwise viable systems through sheer greed.

 Solaris comes to mind

Not a pro, not even very good.  I’m just old and have time currently.  Assuming I know a lot about computers can be a mistake.

 

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4 hours ago, Beskamir said:

I'm really hoping Oracle manages to kill this clock app off for good.

they won't. the format TikTok uses is extremely popular with an audience of millions of people, so if TikTok dies the creators will either move to other platforms that allow similar content or a new platform will be created. 

She/Her

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US Government - we don't like that you citizens are free to choose who you give your telemetry data too (since its not us, the USA) and since you like this popular app we will ban it in the US, then allow it in the US so long as we get to keep the telemetric data.  

 

Food for thought!

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5 minutes ago, Tristerin said:

US Government - we don't like that you citizens are free to choose who you give your telemetry data too (since its not us, the USA) and since you like this popular app we will ban it in the US, then allow it in the US so long as we get to keep the telemetric data.  

 

Food for thought!

The creepy bit for me as a US citizen is even more narrow than that, but in the same vein.  There was an attempt made by the administration to force the sale to a company who’s owner was sympathetic to the administration, and is apparently enacting a 5 billion dollar “education” plan.  I am highly suspicious.

Not a pro, not even very good.  I’m just old and have time currently.  Assuming I know a lot about computers can be a mistake.

 

Life is like a bowl of chocolates: there are all these little crinkly paper cups everywhere.

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3 minutes ago, Bombastinator said:

The creepy bit for me as a US citizen is even more narrow than that, but in the same vein.  There was an attempt made by the administration to force the sale to a company who’s owner was sympathetic to the administration, and is apparently enacting a 5 billion dollar “education” plan.  I am highly suspicious.

100000000% 

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What is really interesting for me is that the Republican party is supposed to be all "hands off" when it comes to regulating businesses aren't they? Seems like conservatism is truly dead at this point and the Republican party is simply the venue for Fascists and authoritarianism.

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14 minutes ago, imreloadin said:

What is really interesting for me is that the Republican party is supposed to be all "hands off" when it comes to regulating businesses aren't they? Seems like conservatism is truly dead at this point and the Republican party is simply the venue for Fascists and authoritarianism.

There was a TED talk in another thread that defined the word facism.  Fascist governments have a history of regulating businesses.

Not a pro, not even very good.  I’m just old and have time currently.  Assuming I know a lot about computers can be a mistake.

 

Life is like a bowl of chocolates: there are all these little crinkly paper cups everywhere.

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18 minutes ago, Bombastinator said:

There was a TED talk in another thread that defined the word facism.  Fascist governments have a history of regulating businesses.

Fascism is authoritarian, its goal is to control every aspect of society and that includes businesses. In that regard, they are not different from socialism or communism 

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Quote

“I approved the deal in concept,” Trump told reporters Saturday as he left the White House for a campaign rally in Fayetteville, North Carolina. “If they get it done, that’s great. If they don’t, that’s OK too.”

 

The new company, which will be called TikTok Global, has agreed to funnel $5 billion in new tax dollars to the U.S. and set up a new education fund, which Trump said would satisfy his demand that the government receive a payment from the deal. “They’re going to be setting up a very large fund,” he said. “That’s their contribution that I’ve been asking for.”

source: https://www.bloomberg.com/news/articles/2020-09-19/trump-says-he-s-approved-oracle-deal-for-u-s-tiktok-operations

I assume no $5 billion education fund, when deal doesn't go through or is there something else to this, like the US still gets their $5B no matter what happens to TikTok, but that would make no sense. No deal, No $5B.

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6 hours ago, Bombastinator said:

There was a TED talk in another thread that defined the word facism.  Fascist governments have a history of regulating businesses.

 

On 9/19/2020 at 10:37 AM, Delicieuxz said:

Too much of your data in one place is a bad thing.

 

Why fascism is so tempting -- and how your data could power it

 

 

It isn't merely a possibility, but is the unavoidable certain inevitably of where things will end-up. And things are already half-way there, with the US tech sector already being deeply interwoven with state intel agencies who use data from a multitude of sources to create virtual profiles on every person to give themselves a virtual god-view over society.

 

For companies, more data-harvesting and tracking means more money. And for intel agencies, it means more control and power and furthering of whatever ideology (which is often very psychopathic) those with access to the data hold.

 

All that information is used to manipulate society and individuals, and is used against the people that data is of. And it will keep being taken one step further as the next step is always relatively small in relation to the place where things currently are - and most-all the steps needed to enable comprehensive surveillance and manipulation of society have already been taken. And sometimes forums don't want the matter highlighted and talked about because it can be political or cause arguments. But a policy of not allowing attention to the topic is, in real-world effect, a degree of complicity in the eventual outcome we're headed towards.

 

Other people aren't supposed to be the arbiters of your thoughts and the directors of your actions. But allowing companies like Microsoft, Google, Facebook, Twitter, and others, plus agencies like the CIA and NSA, to aggregate your data between themselves says the opposite - that other people, and particularly those with an interest in exploiting you, get to be the arbiters of your thoughts and the directors of your actions. Either harvesting data that is non-essential to requested service functionality and profiting on data-harvesting will become illegal (which it should because it isn't any more moral or justified of a business model than child prostitution), or society will descend much further into stealth totalitarianism (though, as is the current situation, the most affected by it will be the most oblivious to it).

 

Companies and intel agencies currently hide what they do so that there is no public or judicial evaluation of it. But what is being done is very far beyond what the public assumes is the worst possible case.

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"We’ll know our disinformation program is complete when everything the american public believes is false" - William Casey, CIA Director 1981-1987

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Alright let’s continue Tik Tok ‚in

 

19 hours ago, Delicieuxz said:

Oracle and Walmart will be take up to a 20% combined stake

Who’s taking the rest?

19 hours ago, Delicieuxz said:

And it would be headquartered in Texas and employ at least 25,000 people, he added.

I highly doubt that

Edited by Drama Lama

Hi

 

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hi

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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2 hours ago, Drama Lama said:

Who’s taking the rest?

I think ByteDance will continue to own the rest.

You own the software that you purchase - Understanding software licenses and EULAs

 

"We’ll know our disinformation program is complete when everything the american public believes is false" - William Casey, CIA Director 1981-1987

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8 hours ago, Drama Lama said:

I highly doubt that

When did anything the orange man said actually come true...?

 

 

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7 hours ago, Delicieuxz said:

I think ByteDance will continue to own the rest.

that's the thing this is really weird as it keeps everything in chinese hands *except* for operation in the US... I think as soon a certain someone understands this he'll be "against"!  😅

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2 hours ago, Mark Kaine said:

When did anything the orange man said actually come true...?

 

similar stuff was said about the TSMC fab in Arizona thousands of Jobs promised

the actual number will be lower

Hi

 

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hi

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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2 hours ago, Mark Kaine said:

When did anything the orange man said actually come true...?

 

 

The way that one seems to work is playing the odds.  If there is a shot, pick the one personally most advantageous.  You’re going to be wrong part of the time but if you can blame that on someone else or change the subject or distract or something to keep the failures from being counted you look smart instead of just a punter.  The problem seems to be that playing the odds hasn’t worked so well lately.  Particularly with Covid.  There were chances that something would turn out to be not so bad. They kept on turning out to be not true though and the trick was exposed.  The orange man isn’t smart.  He just punts and claims to his personal advantage.

Not a pro, not even very good.  I’m just old and have time currently.  Assuming I know a lot about computers can be a mistake.

 

Life is like a bowl of chocolates: there are all these little crinkly paper cups everywhere.

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Federal judge blocks Trump’s effort to ban TikTok from US app stores

Quote

A US District judge has made an 11th hour intervention to block a federal government order prohibiting downloads of TikTok from app stores by American users.


U.S. District Judge Carl Nichols issued a preliminary injunction, that would allow the popular app to still be on offer in Apple and Google stores, shortly before the ban was supposed to go into force on Sunday midnight. Earlier in the day, Nichols allowed a 90-minute hearing, where a lawyer representing TikTok made the case for it remaining available to users in the US.

 

While the court sided with TikTok’s parent company, ByteDance, on the issue of US app stores, it stopped short of blocking looming Commerce Department restrictions that are set to come into force on November 12.


I guess negotiations with Oracle are still finalizing.

You own the software that you purchase - Understanding software licenses and EULAs

 

"We’ll know our disinformation program is complete when everything the american public believes is false" - William Casey, CIA Director 1981-1987

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11 hours ago, Delicieuxz said:

Federal judge blocks Trump’s effort to ban TikTok from US app stores


I guess negotiations with Oracle are still finalizing.

lol those comments though...

 

also isn't this the same as what happened to wechat basically? (except they aren't getting sold)

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