Privacy Concerns Over Tik Tok
TikTok parent ByteDance is considering an extreme makeover of the app’s corporate structure to give it some breathing room from the Chinese government. That may include creating a new management board or moving the HQ out of China, the WSJ reports.
- TikTok is a global phenomenon. In Q1, it set the record for most quarterly downloads of any app ever. Young teens are making thousands of dollars per post!
ByteDance is based in Beijing and many governments consider it a potential national security threat. India recently banned TikTok (and 58 other apps) in a geopolitical move.
TikTok is getting ahead of the problem in the U.S. It hired Disney's Head of Streaming as its new CEO, tightened up its lobbying team in D.C., and is now considering a revamp of its management.
Government Watch: President Trump and Sec. of State Mike Pompeo have floated the idea of banning TikTok this past week.