Updated: TRUMP APPROVES TIKTOK DEAL WITH ORACLE AND WALMART ‘IN CONCEPT’

TRUMP APPROVES TIKTOK DEAL WITH ORACLE AND WALMART ‘IN CONCEPT’

The new company, which will be called TikTok Global, has agreed to donate $5 billion to an 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.”

Related:

ByteDance Shocked By Trump Claims TikTok Deal Partners Will Seed $5BN Federal Education Fund

Enter: A $5 billlion pledge made collectively by TikTok, Oracle, Wal-Mart and the deal’s other backers that will seed a fund dedicated toward financing American education. The fund would go toward teaching American children “the history of the real America.”

TikTok says it’s here to stay; ban from U.S. app stores delayed to September 27

Trump to block U.S. downloads of TikTok, WeChat on Sunday

Trump to block U.S. downloads of TikTok, WeChat on Sunday

The commerce department announced Friday morning that it would ban U.S. business transactions with China-owned social apps WeChat and TikTok on Sunday.

Related:

Commerce Department Prohibits WeChat and TikTok Transactions to Protect the National Security of the United States

As of September 20, 2020, the following transactions are prohibited:

—Any provision of service to distribute or maintain the WeChat or TikTok mobile applications, constituent code, or application updates through an online mobile application store in the U.S.;

—Any provision of services through the WeChat mobile application for the purpose of transferring funds or processing payments within the U.S.

State Department Announces That Great Firewall For The US; Blocks Chinese Apps & Equipment

State Department Announces That Great Firewall For The US; Blocks Chinese Apps & Equipment

Forget banning TikTok, the Trump State Department just suggested it wants to basically ban China from the internet. Rather than promoting an open internet and the concept of openness, it appears that under this administration we’re slamming the gates shut and setting up the Great American Firewall for the internet. Under the guise of what it calls the Clean Network to Safeguard America, last night Secretary of State Mike Pompeo announced a program that is full of vague statements, that could, in practice, fragment the internet.

This is incredibly disappointing on multiple levels. While other countries — especially China, but also Iran and Russia — have created their own fragmented internet, the US used to stand for an open internet across the globe. Indeed, for whatever complaints we had about the State Department during the Obama administration (and we had many complaints), its commitment to an open internet was very strong and meaningful. That’s clearly now gone. The “Clean Network to Safeguard America” consists of five programs that can be summed up as “fuck you China.”

UPDATED 9/14/2020: Oracle reportedly chosen over Microsoft to take over TikTok

Oracle reportedly chosen over Microsoft to take over TikTok

The Wall Street Journal reported late Sunday that Oracle ORCL, -0.57% had been chosen as the winner in bidding for TikTok, and that an announcement would be made soon that Oracle will be TikTok’s “trusted tech partner” in the U.S. The deal would apparently fall short of an outright sale of the popular app.

This changes things…🤔💭

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Trump shows support for Oracle’s bid to buy TikTok in the U.S.

The TikTok Saga: Everything you need to know

A deal to sell TikTok’s US business, which is being prompted by two orders issued by President Donald Trump, had already hit a roadblock because of new Chinese export regulations that cover artificial intelligence and may include TikTok’s algorithm. The South China Morning Post reported that ByteDance has decided not to include the algorithm in any sale. The company has notified both US authorities and prospective buyers, the paper reported.

Peter Thiel Met With The Racist Fringe As He Went All In On Trump

Peter Thiel Met With The Racist Fringe As He Went All In On Trump

Thiel’s ideas continue to find their way into policies. He pushed for the Trump administration to ramp up its trade war with China and, according to the Wall Street Journal, accompanied Zuckerberg to a White House dinner with Trump and Jared Kushner, where the Facebook CEO raised concerns about rival TikTok. (Zuckerberg has since told employees that he doesn’t think TikTok came up as a discussion topic at the meal.)

Thiel’s line of thinking that American companies doing business in China amounts to providing technology to the Chinese Communist Party has also been parroted by Secretary of State Mike Pompeo. This January, ahead of a speech at Stanford University in which Pompeo railed on China for its human rights abuses, he met privately with Thiel, according to two people familiar with the event.

Related:

Chuck Johnson: Why I Am Suing BuzzFeed’s Ryan Mac For Libel Over Peter Thiel Story

China Places Restrictions on The Export of TikTok Technology

China Places Restrictions on The Export of TikTok Technology

In a way similar to the U.S “entity list”, the procedure requires that companies engaging in exports this field first must approve of a regulatory license, otherwise no transactions or negotiations can take place. As a legal consequence, Chinese authorities therefore must prove any potential deal concerning the sale of TikTok to an American company.

Is China an Economic Threat?

Is China an Economic Threat?

It seems that more and more Americans, pro-Trump or not, are concluding that trade with China is a threat to the United States. The objections are typically one of three: (1) freer trade with China after it was admitted to the World Trade Organization (WTO) in 2001 has cost U.S. manufacturing jobs; (2) the Chinese have thrived by stealing our intellectual property (IP) and that has made Americans worse off; and (3) the Chinese will use some of their progress in cybertechnology to engage in surveillance of Americans.

Each of these objections contains a kernel of truth. But the objections together are not nearly enough to offset the huge gains that Americans reap from freer trade with China.