A joint venture designed to keep TikTok operating in the United States has been finalized, with former President Donald Trump claiming credit even as questions persist about whether the agreement adequately addresses national security concerns raised by Congress. TikTok announced the creation of TikTok USDS Joint Venture LLC in a press release Thursday, outlining an ownership structure intended to give Americans majority control of the popular social media platform.
According to the release, ByteDance, TikTok's parent company, will retain a 19.9 percent stake in the joint venture, which has been valued at $14 billion. Silver Lake, Oracle, and MGX will each hold 15 percent, while Dell Technologies CEO Michael Dell’s investment firm, Dell Family Office, and other investors hold smaller, undisclosed stakes. The seven-member board will also be majority-controlled by Americans, with TikTok CEO Shou Chew holding ByteDance’s only seat.
Chew told TikTok employees in an internal memo that finalizing the deal was "a great move," The New York Times reported. Adam Presser, a former TikTok employee, will lead the joint venture.
The deal arrives after years of scrutiny over TikTok’s data collection practices and its potential ties to the Chinese government. Critics have expressed concerns that the platform could be used to gather data on American citizens or to spread propaganda. These concerns are rooted in China's National Intelligence Law, which compels Chinese organizations to support and cooperate with state intelligence work. The fear is that algorithms powering TikTok's "For You" page, which uses AI to personalize content recommendations, could be manipulated to influence users' opinions or expose them to biased information.
The "For You" page algorithm is a complex AI system that analyzes user behavior, such as watch time, likes, and shares, to predict what content a user will find engaging. This type of AI, known as a recommendation system, is common across many social media platforms and e-commerce sites. However, the scale and sophistication of TikTok's algorithm, combined with its potential vulnerability to foreign influence, have raised unique concerns.
The agreement aims to alleviate these concerns by placing TikTok's U.S. operations under American control. However, some experts remain skeptical, arguing that ByteDance's continued ownership stake and the potential for Chinese government influence over the company could still pose risks. There are also concerns that the AI algorithms themselves, even if managed by an American entity, could still be influenced or manipulated.
The Committee on Foreign Investment in the United States (CFIUS) is expected to continue its review of the deal to ensure it meets national security requirements. The details of the agreement, including how data security and algorithm transparency will be ensured, remain subject to ongoing scrutiny. The long-term impact of this deal on the future of TikTok in the U.S. and the broader debate over data privacy and national security remains to be seen.
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