On Thursday, Trump officially signed an executive order that will ban the use of TikTok in the US.
In the order, which takes effect in 45 days, any transactions between TikTok’s parent company, ByteDance, and U.S. citizens will be outlawed for national security reasons.
When we talk about sanctions against Russian oligarchs and kleptocrats, well, the sanctions are that no American can do business with them, Stewart Baker, the former general counsel at the National Security Agency.
In a statement, TikTok says it is “shocked” by the executive order, claiming the Trump administration “paid no attention to facts, dictated terms of an agreement without going through standard legal processes, and tried to insert itself into negotiations between private businesses.”
Microsoft was in the process of trying to purchase TikTok.
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For Microsoft, a $1.5 trillion company that has focused its business mostly on corporate clients by selling software and cloud computing services, buying TikTok would be its first major purchase of a popular social media platform.
Microsoft already owns game console company Xbox, networking site LinkedIn, and messaging service Skype.
Officials at Microsoft say it is examining a TikTok acquisition that would potentially buy TikTok’s American, Canadian, Australian, and New Zealand services, but officials close to the deal say the final offer may include operations in even more countries.
Facebook’s new Reels feature on Instagram allows users to create and share short videos, similar to TikTok.
TikTok is accusing Facebook of stealing their idea and capitalizing on the ban. Like TikTok, users can make short videos set to music, add filters and other effects, and easily share them.
This is not the first time Facebook has been accused of putting out “copy cat” features. That includes Stories, similar to Snapchat’s Stories, which disappear after 24 hours, and Messenger Rooms, a video-call competitor to Zoom that also incorporates elements of the popular video app Houseparty.
Facebook is the world’s largest social network, with more than 3 billion people using both Facebook and Instagram. TikTok which use to be known as Musically has definitely made a huge impact over the past few years as the trendiest new social media platform for teens and millennials.