Per WSJ
TikTok Amps Efforts to Win the US with $1.5 Billion Reorganizing Plan: Transparency Offered
1/16/2023
TikTok has been the subject of massive criticism from different government bodies regarding how it handles its data. In a move to help win over the US government, which is taking action against the Chinese-owned app, the app is providing more detail about its $1.5 billion restructuring plan.
Negotiations with US regulators regarding whether or not the app should be allowed in the country have been ongoing for two years, and recently, the US government has made a new move. President Joe Biden recently signed a bill that would mandate all government employees' phones be cleared of TikTok.
After taking such a huge blow, TikTok is trying to move forward by offering transparency with its $1.5 billion reorganization plan. Per people familiar with the matter, the plan is to reorganize the US operations of the app.
The new proposal promises oversight over content-recommended algorithms, saying they plan to convince potential allies of its independent operations. TikTok is trying to showcase how they operate independently of Bytedance, its Chinese parent company.
TikTok has been in hot water for reportedly spying on Forbes journalists. Although the app has already fired four employees, the report details how it would spy through to key-stroke following and listening to audio.
A TikTok spokesperson shares how they are confident that their plans moving forward, with new solutions, will help stop the concerns once and for all. The spokesperson shares how they have made progress toward looking for a solution.
“We’ve made substantial progress on implementing that solution over the past year and look forward to completing that work to put these concerns to rest.”
Should TikTok be unable to reach its goal of convincing the US government through its $1.5 billion reorganizing plan, the US government could take drastic moves against the app. The ByteDance could either be forced to leave the US market once and for all, or sell parts of its operations to other companies.
See flow at unusualwhales.com/flow.
Other News:
- Biden Signs Bill Mandating TikTok's Removal from Phones of Gov't Employees Under 'Electoral Count Act' Reformation
- TikTok has reportedly spied on Forbes journalists
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