Yeah so not exactly? Larry Ellison will pay some nominal fee in order to be the face of TikTok so that the Chuds can claim a win On Monday, Mnuchin jawboned Ellison to get him to say he'd spent money bearding TikTok Despite the fact that all technology and all patents remain in China Kinda how Carrier "committed" to not shutting down that plant, and how Foxconn "committed" to opening a factory in Wisconsin Larry Ellison agreed to throw money at ByteDance so that the orange man could pretend he accomplished something before his deadline made it immediately obvious that he had not While Microsoft made a good-faith effort to buy a foreign company under duress, the foreign company told them to piss up a rope, according to a person familiar with the matter.Oracle is set to be announced as TikTok’s “trusted tech partner” in the U.S., and the deal is likely not to be structured as an outright sale, the people said.
On Monday, Treasury Secretary Steven Mnuchin confirmed that his office received a bid proposal from Oracle for TikTok’s operations over the weekend and said that the Treasury-led Committee on Foreign Investment in the U.S. would review it this week.
“From our standpoint, we’ll need to make sure that the code is, one, secure, Americans’ data is secure, that the phones are secure and we’ll be looking to have discussions with Oracle over the next few days with our technical teams.”
Mr. Mnuchin also said the Oracle deal includes a commitment to establish TikTok as a global company headquartered in the U.S., which he said would mean 20,000 new jobs.
Two people familiar with the Oracle deal said it was more appropriate to call it a partnership, rather than an acquisition, suggesting that there wasn’t an exchange of significant assets.
While China’s recently announced trade restrictions made acquiring TikTok’s algorithm tricky, Microsoft remained committed to acquiring the app’s powerful suggestion algorithms, said a person familiar with the matter. Without outright purchase of the algorithms, Microsoft wouldn’t be able to follow through with its stated commitment to national security issues.
Larry Ellison. The one man in Silicon Valley that can out-weird Elon Musk. Ellison is a deeply weird individual, and Oracle is not a good company to entrust ones' data to. Sure, their databases are secure (they are a database company, after all) but they don't often make the moral/right decision in how to use the data they are entrusted with. My guess is that Oracle just wants to mine the datasets from TikTok and use the data for their own nefarious needs. I mean, how else is a stodgy old-world company like Oracle going to probe the minds, weaknesses, and proclivities of today's youth?