straight up nazi pindos

TikTok: How The White House Helped Pindo Investors To Raid A Chinese Company
Moon of Alabama, Aug 1 2020

In 2017 the Chinese company ByteDance bought the Shanghai-based video app Musical.ly in a $1b deal and relaunched under the name TikTok. The app allows its users to create and share short videos with special effects. It was a great success and the app now has more than 80m active users in Pindostan alone. The Chinese version Douyin is separate and has even more. ByteDance has other apps, mostly in the  Chinese market, that also generate advertising revenues. The company is valuated at some $140b. The TikTok part is valuated at at least $50b. Some 70% of the ByteDance outside investors are Pindo private equity firms. At one point these Pindo investors decided to raid the successful business. The White House found that to be a great idea and actively supported the plan. The company was put under investigation by the Committee on Foreign Investment in Pindostan. That made little sense, as neither ByteDance nor TikTok planned to acquire a Pindo company. The published reason was that Chinese access to user data of TikTok might have natsec implications. That made little sense. TikTok does not collect user data beyond what is needed to run the application and to share the videos. Its CEO is a Pindo citizen. The user data is stored in Pindostan and TikTok has hired nearly 1k people for its Pindo team and is looking for more. The Chinese government is unlikely to have interest in the preferred video motives of Pindo teens. But the pressure to sell the very successful business continued to increase:

Last week, the Pindo Senate Committee on Homeland Security and Governmental Affairs unanimously passed a Bill that would bar Pindo federal employees from using TikTok on government-issued devices. It will be taken up by the full Senate for a vote. The House of Representatives has already voted for a similar measure.

Then the Pindo investors in ByteDance made an offer:

ByteDance had received a proposal from some of its investors, including Sequoia and General Atlantic, to transfer majority ownership of TikTok to them, Reuters reported on Wednesday. The proposal valued TikTok at about $50b, but some ByteDance executives believe the app is worth more than that.

Under ever-building pressure, ByteDance finally agreed to sell the Pindo part of TikTok, but it insisted on keeping a minority stake. Yesterday it was reported that Microsoft would be the ‘chosen’ partner:

TikTok, the Chinese-owned video app that has been under scrutiny from the Trump administration, is in talks to sell itself to Microsoft and other companies as Trump weighs harsh actions against the business, including forcing TikTok to divorce itself from its parent company, ByteDance. On Friday Mnuchin, who leads the committee, briefed the president on the divestment plan. But it remains unclear what the president will do. Later on Friday, Trump said he planned to take action as soon as Saturday. He added that he was not leaning toward allowing a Pindo company to buy TikTok’s Pindo operations.

Today ByteDance has given up. It no longer insists on keeping a minority share in the business, but will sell the whole Pindo part of TikTok:

China’s ByteDance has agreed to divest the Pindo operations of TikTok completely in a bid to save a deal with the White House, after Trump said on Friday he had decided to ban the popular short-video app, two people familiar with the matter said on Saturday. Pindo boxtops have said TikTok under its Chinese parent poses a national risk because of the personal data it handles. ByteDance’s concession will test whether Trump’s threat to ban TikTok is a negotiating tactic or whether he is intent on cracking down on a social media app that has up to 80m daily active users in Pindostan. ByteDance was previously seeking to keep a minority stake in the Pindo business of TikTok, which the White House had rejected. Under the new proposed deal, ByteDance would exit completely and Microsoft would take over TikTok in Pindostan. Some ByteDance investors that are based in Pindostan may be given the opportunity to take minority stakes in the business.

There has been no announcement yet of the sales price. It will now likely be less than the $50b the Pindo investors once offered. They will now have the whole business. Microsoft is not in the teen app business. It was only brought in to make the deal more plausible:

Under ByteDance’s new proposal, Microsoft will be in charge of protecting all Pindo user data, the sources said. The plan allows for another Pindo company other than Microsoft to take over TikTok in Pindostan.

Microsoft will get some commission for lending its name to the deal. Trump will get some huge campaign donations for facilitating the raid. He or his family probably also have a real stake in the deal via one or more of the the private equity firms. Such an open robbery of a foreign company that made the mistake of being successful in the Pindo market reminds one of some skullduggeries in Russia:

The Putin/Kremlin thing was usually a bit different. Some Russian oligarchs who had acquired Russian natural resources by robbing or killing their competition tried to sell those assets to ‘western’ companies. In those cases Russia had a real national interest at stake. To keep control of Russia’s resources the Kremlin had to step in to prevent such deals. There were also foreign ‘investors’ who bought up important Russian companies for little money or robbed the Russian state via tax fraud like Bill Browder. They are not comparable to a harmless teeny video app business. The whole TikTok robbery has of course nothing to do with national security or with access to TikTok user data. The NSA surely already has such access, while the Chinese government has no plausible interest in it. This is purely a raid against a Chinese company to rob it of a successful part of its business. This raid was carried out by Pindo investors with intensive help from the Pindo government. We can be sure that other Chinese companies, and the ‘lying communists‘ in the Chinese government,  will learn from it.

2 Comments

  1. CuChulainn
    Posted August 2, 2020 at 5:56 pm | Permalink

    RB, lobro & anyone else
    check out Brendon O’Connell on youtube, Talpiot on bitchute
    don’t know what to make of this fellow, but undeniably he has been right about Intel corp for some time (recent video)

  2. niqnaq
    Posted August 2, 2020 at 6:02 pm | Permalink

    np:

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