In less than a month, TikTok could have one or a few new owners, be banned again, or simply get another reprieve to continue operating in the United States.
Questions about the fate of the popular video sharing app have lingered since a law requiring its China-based parent company to divest or face a ban took effect Jan. 19. After taking office, President Donald Trump gave TikTok a 75-day reprieve by signing an executive order that delayed enforcement of the statute until April 5.
As he returned to Washington from his Florida home on Sunday, Trump told reporters that a deal could come soon. He did not offer details on the interested buyers, but said the administration was in talks with “four different groups” about TikTok.
“A lot of people want it and it’s up to me,” Trump said aboard Air Force One.
A TikTok spokesperson declined to comment.
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A visitor passes the TikTok exhibition standsat the Gamescom computer gaming fair Aug. 25, 2022, in Cologne, Germany.
What will happen on April 5?
If TikTok is not sold to an approved buyer by April 5, the original law that bans it nationwide would once again take effect. However, the deadline for the executive order doesn't appear to be set in stone and the president has reiterated it could be extended further if needed.
Trump’s order came a few days after the Supreme Court unanimously upheld a federal law that required TikTok’s parent company, ByteDance, to divest or be banned in January. The day after the ruling, TikTok went dark for U.S. users and came back online after Trump vowed to stall the ban.
During his first term, Trump tried to ban TikTok on national security grounds, which was halted by the courts before his administration negotiated a sale of the platform that eventually failed to materialize. He changed his position on the popular app during last year's presidential election and credited the platform with helping him win more young voters.
The decision to keep TikTok alive through an executive order received some scrutiny, but it has not faced a legal challenge in court.
Who wants to buy TikTok?
Although it’s unclear if ByteDance plans to sell TikTok, several potential bidders have come forward in the past few months.
Aides for Vice President JD Vance, who was tapped to oversee a potential deal, have reached out to some parties, such as the artificial intelligence startup Perplexity AI, to get details about their bids, according to a person familiar with the matter. In January, Perplexity AI presented ByteDance with a merger proposal that would combine Perplexity’s business with TikTok’s U.S. operation.
Alexis Ohanian poses for photos on the red carpet at the Women's Sports Foundation's Annual Salute to Women in Sports, Wednesday, Oct. 12, 2022, in New York.
Other potential bidders include a consortium organized by billionaire businessman Frank McCourt, which recently recruited Reddit co-founder Alexis Ohanian as a strategic adviser. Investors in the consortium say they offered ByteDance $20 billion in cash for TikTok’s U.S. platform. And if successful, they plan to redesign the popular app with blockchain technology they say will provide users with more control over their online data.
Jesse Tinsley, the founder of the payroll firm , says he too has organized a consortium, which includes the CEO of the video game platform Roblox, and is offering ByteDance more than $30 billion for TikTok.
Trump said in January that Microsoft was also eyeing the popular app. Other interested parties include Trump’s former Treasury secretary Steve Mnuchin and Rumble, the video site popular with some conservatives and far-right groups. In a post on X last March, Rumble said it was ready to join a consortium of parties interested in buying TikTok and serving as a tech partner for the company.
What could happen next?
Trump has said he is looking to have the U.S. government broker a deal for 50% control of TikTok. However, the administration hasn't provided details on what exactly that would entail, or what role the U.S. government could play in the future of the short-form video app.
Some potential bidders have floated proposals that would allow the U.S. to invest or own a stake in the platform. Last month, Trump himself also said the U.S. could own part of TikTok through a new government-owned investment fund.
Chinese officials, who would have to approve the deal, appear to have softened their stance on the issue compared to last year when Beijing called the push for divestment a “robbers” act.
Chinese Foreign Ministry spokeswoman Mao Ning said in January that business operations and acquisitions “should be independently decided by companies in accordance with market principles.”
“If it involves Chinese companies, China’s laws and regulations should be observed,” Mao said.
If ByteDance sits down to negotiate, the company would likely need to iron out major details with the U.S. over the proprietary algorithm that populates TikTok feeds as well as the flow of content between the U.S. and the rest of the world.
Spending that's good for your wallet and the planet: Young influencers are promoting underconsumption on TikTok
Spending that's good for your wallet and the planet: Young influencers are promoting underconsumption on TikTok
With the rise of influencer culture, the pressure to overconsume is nearly everywhere on social media. That being said, owning one pair of shoes in 10 colours or immediately purchasing the newest iPhone when it comes out (even if the one you have works perfectly fine) should not be considered normal.
Thankfully, there are people online sharing their consumption habits under the tag "underconsumption core," reports. In these posts, people flaunt items they reuse, things they don't replace just because there's a newer option on the market, while prioritizing a simpler life that rejects the idea of hoarding items for aesthetic purposes. Their cupboards are stocked with mismatched hand-me-down dinnerware instead of sleek and pricey matching sets from Crate and Barrel, for example.
Essentially, this TikTok trend exists to combat the normalization of overconsumption and promote spending habits that are healthier for your wallet and the planet.
Examples of Underconsumption
There's plenty about underconsumption that's attractive. For starters, by consuming less, you can contribute less to waste from unused items and packaging, therefore reducing your carbon footprint. It also renounces an aspiration to emulate wealthy influencers and celebrities, giving you a chance to put money into savings instead of draining your bank account on shopping sprees snatching up the latest products they are hawking.
If you want a closer look at what underconsumption methods people are using to reduce waste and save money, here are some to get you started:
- Buying secondhand
- Washing and re-using food containers for storage
- Using old rags or fabric to clean
- Not buying every new piece of technology that comes on the market
- Avoiding purchasing seasonal items
- Using and wearing things you've had for years because they are still intact
- Using products until they're completely empty before re-purchasing
- Not owning multiples of items that are unnecessary
- Reducing food waste by not buying more than you need at a time
The Anti-Haul
TikTok user Alyssa Barber, or , is known for her content promoting sustainable shopping habits. She frequently posts "anti-hauls" where she walks through stores like Target and shows off items that she won't be buying and why.
For example, Barber has shared that she won't be buying new water bottles when the one she already has keeps her hydrated. Nor will she be buying the latest trendy workout set, when what she has still fits.
When you skip buying unnecessary things, consider instead putting the amount of money you might have spent into socially responsible investments. That way, you can enjoy extra cash down the road and know the money is being put towards things that align with your values. You can get started with our to find the investment methods that will work best for you.
It Doesn't Mean You Can't Buy Anything New
The underconsumption core trend isn't meant to dissuade you from ever buying new things, but instead encourage you to be thoughtful about it when you do.
By making a budget for essentials, you'll have a better idea of what disposable income you have left in your budget and can choose the best way to use it—a is a great way to do this and keep you on track. Chances are, a lot of the time, the best way to use your extra cash is to save it, but sometimes you need to replace things, and that's okay too.
When making purchases, consider buying them secondhand first. While not everything is viable as a secondhand purchase, it's worth looking into.
And when you do spend, you can use a to get some of that money back to put towards savings and investments for the future.
All in all, underconsumption does not mean no consumption. But it is an inspiring trend that could mobilize some favourable money management skills and reduce your carbon footprint at the same time.
was produced by and reviewed and distributed by Stacker.
