Former Treasury Secretary Steven Mnuchin is putting together an investor group to buy TikTok
NBCMAR 2024
Steven Mnuchin Says He's Building a Team to Buy TikTok
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The Spin
Narrative A
Americans and their representatives have long known the dangers posed by TikTok — all they needed was an American buyer to keep the tremendously valuable app alive once it's out of PRC hands. With cash being the only other unsolved problem, Steve Mnuchin, alongside several other investors, is willing to be that solution. TikTok will remain accessible to millions of Americans while also safe from the prying eyes of Beijing.
Narrative B
Senators are still unsure whether to pass this bill because of its potential effects on US trade with China. Some of the largest American companies rake in significant portions of their revenue thanks to business with the PRC, and this bill would give Beijing an excuse to start accusing American tech companies of spying. Even if it passes, China can simply find backchannels like data brokers to buy Americans' data. Instead of threatening the US economy, Congress should pass data privacy laws that prohibit all companies from harvesting user data.
Cynical narrative
The current bipartisan zeal focusing on banning TikTok and relations with Beijing is a red herring considering the amount of domestic surveillance undertaken by the US federal government with the help of Silicon Valley. America's TikTok drama distracts from a serious privacy issue much closer to home.