TikTok, on the brink of death, could enjoy a miraculous recovery
Less than a year ago, a bipartisan group of lawmakers agreed (a rare statement to see!) that TikTok was such an unspeakable threat to American security that it had to be outlawed or sold to an American buyer. Last week, it seemed likely the Supreme Court was going to uphold the law and that the Chinese short-form video platform would go dark in the US on Sunday.
What a difference a few days make:
NBC News: The Biden administration — the same one that signed the TikTok ban into law — is “exploring options” to keep it alive. “Americans shouldn’t expect to see TikTok suddenly banned on Sunday,” an unnamed administration official said.
The Washington Post: Incoming president Donald Trump — the same one who sought to ban TikTok during his first term — is considering an executive order that would suspend enforcement of the law for 60 to 90 days, to “save TikTok.”
The New York Times: TikTok CEO Shou Chew will sit at the dais during Trump’s inauguration, a position of honor reserved for former presidents, family members, as well as, in this case, Tesla CEO Elon Musk and Meta CEO Mark Zuckerberg.
TikTok’s revival, of course, is less good news for its competitors, including Google’s YouTube, Meta’s Instagram, and Snap, all of which are trading lower in the premarket.
