Real estate tycoon Frank McCourt has announced plans to form a consortium to buy the US arm of the popular video service TikTok, while ByteDance opposes selling its platform.
The battle for TikTok
McCourt's announced plans
Famous businessman Frank McCourt, whose wealth is connected to the real estate market, announced plans to form a consortium to participate in the tender for the acquisition of the American segment of TikTok. While it's too early to talk about specific amounts and details of a potential deal, McCourt expressed serious interest in a network where users have more control over their data and identity.
McCourt's goals and initiatives
The businessman is not interested in TikTok's algorithms recommending content, and instead seeks to move the platform to an open protocol. This will allow US users to gain more control over their information. McCourt said that possible sources of financing for the project could be private investors, pension funds and charitable organizations.
The uncertain fate of TikTok in the US
The situation surrounding TikTok in the US remains tense. Despite a law signed by President Biden requiring the sale of the platform by January 19 or its ban, ByteDance filed a lawsuit, claiming that such actions violate freedom of speech. TikTok risks losing one of the most profitable markets after long attempts to convince the US authorities that there is no threat to national security.
Glossary
- Frank McCourt is a famous American real estate tycoon, owner of Marseille FC.
- ByteDance is a Chinese technology company, developer and owner of TikTok.
- TikTok is a popular social network and video service for creating and sharing short videos.
- Joe Biden is the 46th president of the United States of America.
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Discussion of the topic – Real estate mogul Frank McCourt is preparing to buy TikTok in the US
Real estate tycoon Frank McCourt plans to form a consortium to participate in the tender for the acquisition of American TikTok. Despite the demand to sell the app, ByteDance has no intention of doing so.
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Андрій
Interesting news about TikTok! The problem with ByteDance and restrictions in the US could be a great opportunity for an investor with an open vision. 🤔
Ольга
Yes, this is an exciting opportunity for McCourt and his consortium. But do they really want to offer something innovative and not just take over TikTok? 🤷♀️
Ігор
The idea of moving TikTok to an open source protocol and giving users more control over their data sounds exciting! This could be a revolutionary step in the field of social networks. 💡
Вальтер
Phew, all these fashion trends with TikTok and social networks are just ridiculous. Why do people waste so much time on this nonsense? It is better to do something useful! 😒
Соня
Don't be such a grumbler, Walter! 😜 Social media is the future, and TikTok in particular provides a great platform for creativity and self-expression. I wonder what McCourt will come up with.
Марко
I'm with McCourt on this one. Privacy and control over data is a key issue for today's platforms. If they manage to create a more secure and decentralized alternative to TikTok, it will be a huge success! 👏
Еміль
Of course, privacy is important, but isn't it too ambitious to open source a huge platform? It seems like it could be a technically challenging task. I wonder if McCourt has the experience and resources to do this? 🤔
Юлія
Let's not forget that TikTok is not only algorithms and technology, but also a huge creative community. I hope that whatever the new version is, it will preserve this spirit of creativity and user expression. I am waiting for news! 🎥✨