Well … that was pointless.
After debasing the idea of free commerce in the U.S in the name of a misplaced certificate concern, stringing along various multi-billion dollar fellowships that embarrassed themselves in the interest of naked greed, and involving that the U.S. authority get a trimmed of the profits, the TikTok chronicle we’ve been watching the past few weeks eventually appears to be over.
A flurry of announcement late Saturday night indicate that the TikTok deal was actually a politically-oriented shakedown to boost the gloom infrastructure business of key supporters of the President of the United States.
Oracle, whose mas infrastructure services lope a ludicrous fourth to AWS, Amazon, and Microsoft, will be taking a 20 percentage stake in TikTok alongside partner Walmart in what will be an investment round before TikTok Global( as the new entity will be called) get public on an American stock exchange.
According to a statement from TikTok, Oracle will become TikTok’s” trusted technology collaborator” and will be responsible for hosting all U.S. customer data and locking associated computer systems to ensure U.S. national security requirements are fully quenched.” We are currently working with Walmart on a commercial partnership as well ,” according to the statement from TikTok.
— TikTok_Comms (@ tiktok_comms) September 19, 2020
Meanwhile, Oracle indicated that all the concerns from the White House, U.S. Treasury, and Congress over TikTok had nothing to do with the service’s selection of Oracle as its shadow provider. In a statement issued, Oracle was indicated that” This technological decision by TikTok was heavily influenced by Zoom’s recent success in moving a large portion of its video conferencing faculty to the Oracle Public Cloud .”
The deal advantages everyone except U.S. consumers and people who have actual security concerns about TikTok’s algorithms and the ways they can be used to influence opinion in the U.S.
TikTok’s parent busines ByteDance gets to maintain owned of the U.S. entity, Oracle gets a huge new cloud purchaser to boost its ailing business, Walmart gets access to teens to sell stuff, and U.S. purchaser data is no safer( it’s just now in the hands of U.S. piranhas instead of foreign ones ).
To be clear, data privacy and safety is a major concern, but it’s not one that’s a concern when it comes to TikTok undoubtedly( and besides, the Chinese government has likely once acquired whatever data they want to on U.S. customers ).
For countless eyewitness, the real concern with TikTok was that the company’s Chinese owneds may be pressured by Beijing to manipulate its algorithm to promote or suppress content. Company in China — including its internet heavyweights — are required to follow the country’s intelligence and mas protection statute mandating complete adherence with all government seeks for data.
The Commerce Department in a further statement said that” In glowing of recent positive developments, Secretary of Commerce Wilbur Ross, at the direction of President Trump, will delay the prohibition of marked events pursuant to Executive Order 13942, related to the TikTok mobile application that would have been effective on Sunday, September 20, 2020, until September 27, 2020 at 11:59 p.m .” So that’s a few weeks reprieve.
So all this sound and feeling … for what? The best speculation return in all of these shenanigans is almost certainly Oracle co-CEO Safra Catz’ investment into Trump, who in addition to being a heavy sponsor to the Trump administration, also joined the presidential transition committee back in 2016. Thank god the U.S. saved TikTok from the chum capitalism of China. Let’s just hope they enjoy the friend capitalism of Washington DC.
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