In Trump Clash, TikTok Founder Takes Page From ‘Art of the Deal’
By Editor - Tue Sep 15, 11:47 pm
(Bloomberg) — Zhang Yiming, founder of TikTok-parent company ByteDance Ltd., is showing Donald Trump he knows something about dealmaking too.In his proposal to partner with Oracle Corp. to address U.S. security concerns about the hit video app, the Chinese entrepreneur is offering Trump something the president has already declared unacceptable. The question now is whether Trump rejects the proposal, acquiesces or, perhaps most likely for the man behind the ‘Art of the Deal,’ opens negotiations for a compromise.The president has said that TikTok must be sold to an American owner — or shut down. What Zhang has proposed instead is a partnership with Oracle that would allow ByteDance to retain majority ownership of the business, while the U.S. software giant becomes its “trusted technology provider” to protect user data.
See the original post: