• CaptainSpaceman@lemmy.world
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    6 months ago

    If the CCCP refuses to divest, then thats their choice. The ban only goes into effect if they refuse.

    The company hasnt sued the CCCP in China to make it sell its stake, I assume.

    • Match!!@pawb.social
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      6 months ago

      The CCP only owns around 1 percent of ByteDance with majority ownership belonging to multinational investment groups (Carlyle, Susquehanna, etc); however the CCP regulates the sale of source code so it’d be hard to get approval.

      The most important part is that ByteDance actually doesn’t make most of its money in the US so they’d rather shut down TikTok than let the Americans have their algorithm