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ByteDance would rather shut down tiktok than sell it
(hexbear.net)
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this post was submitted on 25 Apr 2024
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They already do....
Almost everything foreign in China is 51% state owned. McDonald's franchises, Costcos, Gucci stores, etc.
Those places entered into China while agreeing to those restrictions. That’s different than the US allowing foreign investment then rugpulling it and stealing the Chinese owned portion of a business after the fact.
In order to retaliate, China needs to seize or steal American capital.
In addition to that:
so effectively half of bytedance is owned by westoids anyway
Might depend on whether that 60% has voting rights.
CPC has something called a golden share in a lot of companies. It's a 1% equity stake that allows for overruling voting power in certain elections
If you had a CPC rep on the board, you'd think you'd do what they suggested
We've gotta pump those numbers up