this post was submitted on 13 Mar 2024
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United States | News & Politics
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A quick read through the first bill, HR 7521: "Protecting Americans from Foreign Adversary Controlled Applications Act", shows that they explicitly call out divesting as an option. If ByteDance would rather shut down than sell, that's their call.
I wouldn't quite go that far. ByteDance would be balancing shuttering TikTok in the US with selling it off worldwide, likely at a reduced price. Then there's the Chinese TikTok equivalent that ByteDance owns that seems to run off the same code base. They would certainly want to retain that. The US has the largest user base, but it might be the best business decision to not sell off TikTok. It still has potential elsewhere.