The more reporting I do on this the more it is a sleazy back room deal that protects no one and advantages Trump supporters and, inexplicably, the Chinese government. The weird education whatever sounds like Trump University except 100 percent less classy.
ByteDance, in a statement on its Toutiao news aggregator app, said Sunday that it had been unaware of the $5 billion contribution it would supposedly be making. "We are also hearing for the first time about the $5 billion education fund from the news."
The process has been chaotic and terribly dubious. The deal fails to address core concerns of data security, privacy, and algorithmic transparency, let alone robust safeguards against undue foreign influence on this platform. Once again, I'm not surprised.
Trump approves the deal between Oracle and TikTok. ByteDance is expected to own 80% stake.