this post was submitted on 28 Apr 2024
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This is the best summary I could come up with:
Still, Wei isn’t particularly concerned that the friction from a TikTok ban would impact his business, a Series B startup that provides financial services to creators.
“If you build products in startups that help creators make money, then actually, from an addressable market point of view, this is good for you,” Wei said.
This bill, which would force ByteDance to sell TikTok if it can’t find an American buyer within nine months, made its way through the House and the Senate to Biden’s desk, where he signed it into law.
In theory, the ban on TikTok could create room in the market for another short-form video app — perhaps one that is not owned by a massive corporation like Meta or Google.
But this likely won’t pose another situation like what happened when Elon Musk bought Twitter, and several microblogging apps cropped up seemingly overnight.
In any case, creators won’t have the patience to invest in a nascent platform that might not last, so they’ll have to make due with Instagram, YouTube and Snapchat.
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