White House in talks to have Oracle, US investors take over TikTok, NPR reports
Posted: Jan 26, 2025
- Administration of U.S. President Donald Trump working with Oracle and outside investors to save TikTok
- Deal would give American investors a majority stake in TikTok
- Oracle would oversee app's algorithm, data collection, and software updates
- ByteDance would retain minority stake in TikTok
- Microsoft also potentially involved in the talks
- Deal still under negotiation, terms could change
- Oracle interested in a TikTok stake in the tens of billions
- White House meeting with Oracle on potential deal
- Concerns about TikTok ban under U.S. law passed by Congress
What do people on Reddit think?
🚨 Reddit sentiment: mixed/negative - There is skepticism about the involvement of Oracle and government influence, mixed with doubts about ByteDance's intentions and a negative view on the free market implications. Summarized comments: - Oracle is being discussed as a potential company to take over TikTok's US operations as part of Project Texas - The US has started monitoring TikTok by having TikTok's US user data hosted by Oracle - Some doubts expressed whether ByteDance, TikTok's parent company, is genuinely interested in selling or if this is just speculation - Concerns about the US trying to enforce equity demands on foreign companies, similar to what the US accuses China of - Criticism of government involvement in corporate acquisitions, questioning the implications for free market principles Stock tickers discussed: $ORCL
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