Mnuchin Explores US Takeover of TikTok to Address Security Concerns
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Steve Mnuchin is exploring a bid to acquire TikTok and believes rebuilding its algorithm in the US is needed to address national security concerns. He may partner with an AI firm like Oracle on this effort.
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Mnuchin argues that China would be willing to sell TikTok as long as its technology is not transferred. Rebuilding the algorithm is seen as the best way to accomplish this.
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The Senate is still debating the House bill that requires ByteDance to divest TikTok within 6 months. The timeline may be extended and the scope possibly broadened.
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If successful, Mnuchin's bid would still need approval from both the US and Chinese governments. Some experts think China may accept a large payout despite past opposition.
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Critics argue the longer TikTok stays under Chinese control, the more influence Beijing has over information consumed by Americans under 35. An expedited sale to a US buyer could satisfy all interests.