If any of you are selling on tiktok it may be a good idea to cash out and keep your balances low. For those of you who don’t know, a bill is working it’s way through c0ngress right now that would either force beijing to completely divest from it (due to concerns that they’re using it to collect data on and spy on americans), or all US companies will have to take actions like remove tiktok from their app stores (and banks will likely be forced to not accept transactions from them). The pres has also stated that he will sign the bill if it passes.
There’s a space in the link because “c0ngress” isn’t allowed
MOD EDIT 1 - Fixed link mod edit 2: Made title compliant with News for Ecomm Sellers topic template
Its worse than that. Two YEARS ago, December 30, 2022, the President signed the No TikTok on Government Devices Act, prohibiting the use of the app on devices owned by the federal government, and this extended to contractors, too.
But TikTock is a different beast in China. China’s kids get purely educational content, not the dancing and softcore porn allowed outside China. And there’s a daily time limit for kids in China - “go do that homework”.
I remember a time under the previous administration when WeChat was going to be banned - that didn’t pan out - I’m actually for this for the obvious reasons already brought up here but how is this any different than the supposed WeChat ban? How is this more akin to the Huawei brand? FYI - didn’t read the link yet.
I guess there is an argument to be made that there are multiple alternatives to TT that essentially function the same - aside from the issue of ownership which is a problem for me as well. China also produces a lot more graduates in the natural sciences than us but because of various systemic modalities - they will never be able to match what we create - they’re great at mimicry - but call me when they actually create something and have an influx of immigration that are looking for a better life. I agree with the overall premise though and the issue of data and ownership is a huge one.
Wechat was mostly only used by foreigners and outside of that it wasn’t popular. Tiktok is WAY more popular, thus it’s a threat. This is also largely political. ALL social media spies and gathers crazy amounts of data on their users. But politics are what gets laws passed and this one is gaining momentum right now. Tensions between the US/China are higher now than when wechat was under the gun.
Plus Tiktok sent out notifications to their users instructing people to flood congress with phone calls. That pissed off the people who are going to be voting for/against this law so its getting even more support now.
To be clear, TikTok owner ByteDance is headquartered in Beijing and because of that is required to collaborate with the Chinese government in ways that violate US laws. The bipartisan bill demands that ByteDance sell off TT, or TT will face a ban.
All signs point to ByteDance selling off TT, and there are several viable US-compliant companies who are eager to snap up TT because it’s a money maker.
I don’t hear alarm bells for TikTok Shop sellers yet. In fact, I suspect many ecommerce businesses have been hesitant to consider Shop exactly because of TT’s current ownership, might be more interested if TT is owned by Microsoft, Google, Apple, Amazon, Kevin O-Leary, Mark Cuban, etc.
I have no confidence that the new owner will have skilled enough programmers to remove the security threat. Or be willing to invest in the necessary software changes after paying a premium for TT.
Does this mean I lack confidence in the government and its actions, or the free market or all of the above?
just like the “not-Chinese” chip manufacturers who are building new factories in the USA but didn’t try very hard with their new “shell company” names.
And what buyer do you think will risk offending the Chinese? There are far too many American companies with business and financial ties to China.
They needn’t fake-divest. Any divestiture is unlikely to solve the problem, but both of our political parties and their donors will state problem solved on their political ads.
Senate isn’t going to take this up. It’s interesting that the President seems interested in signing it though which might very well change Chucks mind.
I’m in support of the bill in that they divest. The reality is that no matter what, the data will be available to anyone that wants it regardless.
Nobody really believes that even if they divest that there won’t be plenty of people on the inside that know people over there, do they?
Sorry if this is political at all. I did want to contribute while also trying not to push the boundaries of policy here.
I realize we are a non-political forum and this is a somewhat political related topic, but it is also an advertising platform and somehow a selling platform? Yeah don’t know about that one.
Full disclosure, I do not have a toktik account. I’m barely on the tubeYou thingy!
