Trump approves Oracle's TikTok bid "in concept"

Joe White

Posts: 17   +0
Staff
What just happened? President Trump has provisionally agreed a deal between the Chinese-owned social platform TikTok and U.S. firms Oracle and Walmart, meaning the hugely popular video-sharing app may remain available for users in the United States, after all. Speaking with reporters outside the White House on Saturday as he departed for a rally in North Carolina, President Trump said he had “approved the deal in concept” and had given it his “blessing.”

The news came less than a day before a ban on TikTok app’s maintenance and updates was due to come into effect following concerns around the Chinese-owned service. Trump initially signed an executive order banning both TikTok and WeChat in August, citing concerns around “the national security, foreign policy, and economy of the United States.”

The deal between Oracle, Walmart, and TikTok is expected to produce a new company, TikTok Global, which would be headquartered in Texas, would hire some 25,000 employees, and would contribute $5 billion towards U.S. education, according to Bloomberg.

As part of the deal, Oracle will become TikTok’s “trusted technology provider” and will host user data in the Oracle Cloud. Further details are expected to become available over the coming days.

Oracle CEO Safra Catz said, “We are a hundred percent confident in our ability to deliver a highly secure environment to TikTok and ensure data privacy to TikTok’s American users, and users throughout the world.”

For now, TikTok has one week to finalize the details, with the U.S. Department of Commerce delaying its imminent ban by one week. Unless satisfactory arrangements between the companies can be made, the TikTok app’s updates and maintenance will be halted on September 27 at 11:59 PM.

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QuantumPhysics

Posts: 3,557   +3,385
I am just so thankful in these times of uncertainty, rent crisis, mortgage crisis, job crisis, healthcare crisis and stagflation that my government was able to come together as a nation united in order to defeat the evils of Tik Tok and We Chat.
 

Gaminbashy23

Posts: 7   +8
See if China had only agreed to help Trump's reelection like Bolten's book says he asked their President to do, then we would not be talking about Tik tok today.
 
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Endymio

Posts: 701   +565
I am just so thankful in these times of uncertainty, rent crisis, mortgage crisis, job crisis, healthcare crisis and stagflation that my government was able to come together as a nation united...
Given how highly you continually praise them, I thought your government was China's PRC. In any case, I don't know what you believe the term stagflation means, but we're certainly not experiencing it now. The current inflation rate for August was 1.3%, which is substantially below the Fed's prototypical 2% target.

See if China had only agreed to help Trump's reelection...
After giving Biden's son a $1.5B check, they could hardly switch sides, now could they?
 

Gaminbashy23

Posts: 7   +8
Given how highly you continually praise them, I thought your government was China's PRC. In any case, I don't know what you believe the term stagflation means, but we're certainly not experiencing it now. The current inflation rate for August was 1.3%, which is substantially below the Fed's prototypical 2% target.

After giving Biden's son a $1.5B check, they could hardly switch sides, now could they?
False claims about Biden will only go so far - https://www.factcheck.org/2019/10/trumps-claims-about-hunter-biden-in-china/

But speaking of billions - wonder how much are the copyrights that Ivanka got (sitting in on official meetings) worth? Must not be enough!

https://apnews.com/0a3283036d2f4e699da4aa3c6dd01727
https://www.theguardian.com/us-news...na-trademarks-day-us-president-met-xi-jinping

 

Endymio

Posts: 701   +565
False claims about Biden will only go so far
False?

From: NY Post: Hunter Biden's Business in China.

"In 2009, Hunter co-founded a new venture, Rosemont Seneca Partners. Rosemont and Hunter were given extraordinary opportunities in China while his father was vice president.

1. Joe Biden met with Hunter’s Chinese partners days before they established a new investment firm.

In December 2013, Hunter landed in Beijing aboard Air Force Two, accompanying his father on an official visit to China. Less than two weeks later, Hunter’s company, Rosemont Seneca, became a partner in a new investment company backed by the state-owned Bank of China. Christening the new firm Bohai Harvest RST (BHR), the partners set out to raise $1 billion for the new fund.

Representatives of the Biden family have denied any connection between the vice president’s visit and Hunter’s business. However, a BHR representative told The New Yorker earlier this year that Hunter used the opportunity to introduce his father to Chinese private equity executive Jonathan Li, who became CEO of BHR after the deal’s conclusion.

2. BHR is a multibillion-dollar enterprise.

Exceeding their initial fundraising goal, the partners at BHR raised their target to $1.5 billion for the new fund. The company’s website now brags that it manages “over RMB 15 billion” in assets — the equivalent of about $2.1 billion in today’s dollars.

Under the terms of the deal, BHR, in which Hunter’s firm held an equity stake, would be a lead investor in the fund. Other investors include China Development Bank and China’s social security fund.

But speaking of billions - wonder how much are the copyrights that Ivanka got (sitting in on official meetings) worth?
You're embarrassing yourself. First of all, they were trademarks, not copyrights. And if you understood trademark law, you would realize they are granted automatically to any applicant, as long as the trademark was not registered previously. Getting a trademark -- unlike a $1.5 billion dollar check -- is not a mark of any special favor.
 
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QuantumPhysics

Posts: 3,557   +3,385
Given how highly you continually praise them, I thought your government was China's PRC. In any case, I don't know what you believe the term stagflation means, but we're certainly not experiencing it now. The current inflation rate for August was 1.3%, which is substantially below the Fed's prototypical 2% target.

After giving Biden's son a $1.5B check, they could hardly switch sides, now could they?

#1 STAGFLATION:

a) high unemployment
b) high underemployment
c) inflation (in terms of higher cost of living - in which case I'd say that rent/mortgages are pretty damn high)
d) poorly targeted government programs: (ie Trump welfare checks)

Only by listening to the most optimistic of sycophants in the right-wing media could anyone think that only losing 1 million jobs every other week is anything but a disaster.

Yeah...I'm going to continue to use the word "stagflation".
 

Hexic

Posts: 774   +826
TechSpot Elite
I am just so thankful in these times of uncertainty, rent crisis, mortgage crisis, job crisis, healthcare crisis and stagflation that my government was able to come together as a nation united in order to defeat the evils of Tik Tok and We Chat.
I’m grateful that in the middle of a global pandemic, our government finally has the balls to stand up to China, whom our prior president let them and the rest of the world bend us over. Quack, quack.

Our government is fully capable of multi-tasking, especially in the case of the confirmed national security gap with the second largest world power who’s been corrupt, abusive, and constrictive of human rights, commerce, and accused of very recent genocide.

I’d heavily suggest you re-evaluate your priorities here, and understand that there is no perfect world, simply the ‘lesser of two evils’ everywhere you look, in all facets. You’re alluding to supporting the PRC, and that’s quite sad; even given the context of the USA’s checkered past.
 
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