If you have been following the TikTok story, Judgement day is near.
When TikTok began its back and forth with the Donald Trump administration, a deadline was issued.
By September 20th, 2020, TikTok should have sold a part of its company to an American company.
Unfortunately, TikTok hasn’t sold out, yet.
What they’ve done is an attempt to get into a partnership with Oracle.
Although, we did sense that Oracle stood a chance.
Trump was on the side of Oracle, as well as some ByteDance investors.
So, it’s not exactly a surprise to us that Oracle was chosen.
From the look of things, Oracle could take a 20% stake of the company, in partnership with Walmart.
The fate of TikTok’s future in the U.S will be determined in the next 24-36 hours.
Trump has been in a series of meetings trying to decide whether to approve TikTok’s deal.
In Trump’s cabinet of advisors, they all don’t agree with each other.
On Wednesday, Trump objected to ByteDance, maintaining a majority stake in the company.
Doug McMillion, Walmart’s CEO, is to sit down with the newly elected TikTok board of directors.
During a press conference yesterday, Trump admitted he didn’t like the idea of TikTok having majority ownership.
If you think about it, Trump not liking this is no surprise at all
Trump consenting to TikTok’s deal would mean him neglecting his previous order.
The only way TikTok would not be banned in America is if TikTok sells to an American company.
In addition to the ban, Trump issued a law that no American company should involve in any transaction with TikTok.
When he said that, most people considered it as extreme.
Tiktok, however, did attempt to fight back against the American government.
In reality, we don’t see that happening.
The Chinese government already issued a law restricting the export of any Chinese AI tech.
Asides that, TikTok seems like it’s ready to see this to the end.
TikTok, Oracle, Microsoft And Trump
Amongst the offers from Microsoft, Oracle and Walmart, Oracle came out top.
Microsoft wasn’t too happy about the decision as it had big plans for TikTok.
However, Microsoft did sabotage their chance of getting TikTok.
Microsoft publicly addressed TikTok as a cause for national security.
TikTok’s partnership with Oracle would make it a minority stakeholder.
If Microsoft had bought TikTok U.S.A, they’d also have attempted to acquire TikTok New Zealand, Canada and Australia.
On August 3rd, Trump mentioned that by September 15th, TikTok should already have a buyer.
He added that TikTok and its potential buyer would have to conclude on an acceptable deal.
Whatever decision they make would have to favour the United States Treasury.
Why? So they can “make a whole lot of money.”
There was a change in Trump’s desire for the TikTok money.
Trump’s lawyers informed him that it was illegal.
For that reason, he decided to renege on that conversation regarding “Key money.”
Honestly, we’re all looking forward to Trump’s verdict in 36 hours.
Would TikTok be banned in America?
Would there be some intervention?
We have absolutely no idea, yet.
But we will once Trump makes a decision.
So, to get first-hand information on this topic, subscribe to our newsletter.