A group led by billionaire entrepreneur and former Los Angeles Dodgers owner Frank McCourt has submitted a formal bid to purchase TikTok’s US operations from its parent company, ByteDance. Known as “The People’s Bid for TikTok,” the group is also supported by “Shark Tank” investor Kevin O’Leary. The details of the offer remain undisclosed.
This bold move emerges on the eve of a Supreme Court hearing to determine the legality of a law that could ban TikTok in the United States beginning January 2025, should ByteDance refuse to sell its US assets. However, the group faces a significant obstacle: ByteDance has consistently stated that TikTok is not for sale.
ByteDance’s Firm Stance
Since President Joe Biden signed legislation in April threatening TikTok’s ban, ByteDance has resisted any notion of a sale. The company maintains that such a ban would infringe on the First Amendment rights of both TikTok and its users. In its Supreme Court filing, ByteDance emphasized the app’s importance to over 170 million monthly US users and reiterated that it has no intention to sell.
TikTok, the first Chinese social media platform to achieve global success and challenge US tech giants, has yet to comment on the bid.
A Unique Vision for TikTok
The People’s Bid is backed by investment firm Guggenheim Securities and notable figures, including Tim Berners-Lee, inventor of the World Wide Web. McCourt and his team propose purchasing TikTok’s US version without its proprietary algorithm. Instead, they plan to rebuild the platform using American-developed technology, addressing Chinese export controls that limit the sale of sensitive technologies.
In a statement, McCourt outlined the group’s goal: “By keeping the platform operational without relying on the existing TikTok algorithm, we can protect user privacy and ensure trust while avoiding a ban. Millions of Americans can continue enjoying the platform uninterrupted.” McCourt, who founded Project Liberty, an initiative to enhance internet governance, added that the group is committed to working with US leaders to finalize the deal.
Skepticism and Challenges
Despite these assurances, social media experts and users have raised concerns about the viability of a TikTok without its iconic algorithm. The algorithm, which curates the personalized “For You” feed, is widely regarded as the backbone of TikTok’s success. Competing platforms have struggled to replicate its appeal, raising doubts about whether the app can thrive without it.
However, Kevin O’Leary remains optimistic. In a social media post, he pushed back against skepticism: “The idea that TikTok can’t succeed without its algorithm is a misconception. We’re ready to rebuild and make TikTok better than ever.”
Moving Forward
While the bid reflects an ambitious attempt to reshape TikTok’s future in the US, it faces formidable legal and technical hurdles. ByteDance’s unwillingness to sell and the complex role of the algorithm pose significant challenges to the group’s vision.
As the Supreme Court deliberates on the potential ban, the future of TikTok remains uncertain. Whether The People’s Bid can turn their vision into reality or whether ByteDance’s resolve will hold firm could reshape the digital landscape in the months ahead.
