The TikTok Political Debate Is Over, Bar the Shouting

The political debate about TikTok is all but over, with the sell-or-ban bill now virtually assured of becoming law, judging by its progress in the Senate today. Once the formalities are over, we’ll see TikTok or its users file a legal challenge, which could delay implementation. Even so, the final passage of this legislation is momentous. The warnings about TikTok have circulated for so long—Meta CEO Mark Zuckerberg warned of censorship on TikTok in 2019 and Trump tried to ban it in 2020—that the import of what is happening may be lost on people. When was the last time U.S. authorities took action to ban something this popular? Or forced a foreign company to sell a business it operates in the U.S.? 

Some people may be licking their lips, thinking this is an opportunity to snatch TikTok for themselves—former Treasury Secretary Steve Mnuchin has already raised his hand. But even if China allows ByteDance to sell—which is far from certain—history suggests a new buyer will screw up TikTok. Remember what happened to MySpace after News Corp acquired it? TikTok’s business is already showing signs of fraying. The Wall Street Journal reported last month that its U.S. user growth has stalled. Meanwhile, as we’ve written, TikTok doesn’t actually make money, despite its popularity.