In this headline world, I will break down what's actually happening here (having read all the articles).
Microsoft put forward an offer in line with CFIUS and Presidential Admin's requirements. It was rejected.
Bytedance has agreed to accept Oracle's offer - only thing is, the offer is not a sale of TikTok.
The Bytedance-Oracle proposition is that Bytedance and Oracle become partners, and Oracle has a license to run the US business. Bytedance doesn't, in this case relinquish the algorithm to Oracle.
Lastly, the deal is not structured as an outright sale as CFIUS and President wanted, it's structured as a 're-structure' of sorts.
So this news of a deal is bullshit as it doesn't address the executive order. They're just finding ways to circumvent the executive order which actually necessitates an outright and full sale.
Some other Chinese billionaire will just invest in a new alternative to TikTok and market it won't they? Especially if Oracle ends up ultimately killing the app.
Interesting if the deal goes through. Also funny how chyna is worried about IP theft.
"The key takeaway: the deal will not be structured as an outright sale, " -- so the executive order still stands then- an outright sale was needed.
In this headline world, I will break down what's actually happening here (having read all the articles). Microsoft put forward an offer in line with CFIUS and Presidential Admin's requirements. It was rejected. Bytedance has agreed to accept Oracle's offer - only thing is, the offer is not a sale of TikTok. The Bytedance-Oracle proposition is that Bytedance and Oracle become partners, and Oracle has a license to run the US business. Bytedance doesn't, in this case relinquish the algorithm to Oracle.
Lastly, the deal is not structured as an outright sale as CFIUS and President wanted, it's structured as a 're-structure' of sorts.
So this news of a deal is bullshit as it doesn't address the executive order. They're just finding ways to circumvent the executive order which actually necessitates an outright and full sale.
Some other Chinese billionaire will just invest in a new alternative to TikTok and market it won't they? Especially if Oracle ends up ultimately killing the app.