this post was submitted on 18 Mar 2024
135 points (93.5% liked)

World News

32288 readers
479 users here now

News from around the world!

Rules:

founded 5 years ago
MODERATORS
top 34 comments
sorted by: hot top controversial new old
[–] [email protected] 41 points 7 months ago (2 children)

It'd be really funny if ByteDance doesn't sell and TikTok getting banned crashes the economy.

[–] GrymEdm 7 points 7 months ago (2 children)

Given the CCP involvement in their country's businesses, I think there will be a lot more involved than would be in other sales. There are already articles talking about how the sale will take longer than the 6-month timeline (if it passes the Senate/President and any potential legal challenges).

[–] [email protected] 6 points 7 months ago (1 children)

Any sale of a hundred+ billion dollar company takes years. Look at the attempted acquisition of ARM.

[–] [email protected] 6 points 7 months ago (1 children)

Uh...TikTok is not ARM, or anything close to resembling it.

The US justification for forcing the sale of TikTok may be horseshit political theater for dubious reasons, but that doesn't close the gap of making a TikTok sale anywhere close to resembling ARM.

[–] [email protected] 5 points 7 months ago (1 children)

$16B US revenue, doubling YoY, gross margin likely in the 70s. Even at the P/S of an established company like Facebook, TikTok's US operations would be worth on the order of $200B. That's on par with the largest acquisitions in history and dwarves Nvidia's acquisition attempt of ARM.

[–] [email protected] 7 points 7 months ago

Relative valuations aren't the key differences, it's what the companies do, and what they support.

ARM technology powers the vast majority of mobile devices, and is estimated to have upwards of 30% of the PC CPU market share by 2026.

It's sale, or acquisition, is more than a pissing match between two great powers.

[–] [email protected] 5 points 7 months ago

I don’t see there being a sale at all. ByteDance isn’t gonna sell the world’s hottest social media platform simply because a foreign country demands it, and even if it were a lucrative enough offer to be tempting, the CPC wouldn’t allow it anyway. If something like this happened in the other direction, I think 1/4 of the US Senate would go into cardiac arrest on the spot, and there’s exactly a 0% chance it would be allowed to happen

[–] [email protected] 35 points 7 months ago (3 children)

I always found this hilarious. I'm in Canada but this opinion applies to my country too.

Everyone keeps talking about evil undemocratic China, authoritarian, manipulative, immoral, untrustworthy and completely unlike our culture or ideals .

But we choose to conduct billions of dollars worth of business and transactions with them on a regular and ongoing basis.

We shouldn't trust them .... but we can buy everything we use from them.

[–] [email protected] 5 points 7 months ago

Europe had a view in the 90s–00s that trade can be a vehicle for enforcing peace. That plus capitalist greed let Russia invade Georgia and Crimea before that view changed overnight too late. Similarly countries turn a blind eye on what China is doing

[–] ghostface 4 points 7 months ago

Why not Mexico?????

[–] Aux 1 points 7 months ago (1 children)

You vote with your wallet. Stop buying Chinese stuff, problem solved!

[–] NoSpiritAnimal 2 points 7 months ago (1 children)

Oh look, the same idea that hasn't worked for 50 years of glib self righteousness.

[–] Aux 1 points 7 months ago

It worked really really well.

[–] [email protected] 24 points 7 months ago
[–] [email protected] 15 points 7 months ago

Oh no!

Anyway.

[–] [email protected] 4 points 7 months ago (2 children)

My money's just fine right here in my bank account. Plus some emergency cash in a drawer in my bedroom. I don't know what the big deal is. Fuck 'em.

[–] filister 14 points 7 months ago (1 children)

Sorry but your money in the bank isn't fine, it gets slowly eaten by inflation. The inflation is designed in a way to stimulate your spending as saving them doesn't make economic sense.

[–] [email protected] 2 points 7 months ago

As always, keep all your dollars in money

[–] [email protected] 2 points 7 months ago

I love how they are trying to make these wealthy investors sound like your average American. Get fucked losers.