In the US, the days of the popular short-video platform TikTok may be in jeopardy. Security concerns threaten a nationwide ban if its Chinese parent company ByteDance does not sell the platform by January 19, 2025. Against this backdrop, US billionaire Frank McCourt is positioning himself with a takeover bid as part of his Project Liberty .
Background to the impending TikTok ban
TikTok has come under fire in recent years job function email list because the US government sees potential national security risks. The suspicion is that ByteDance could share sensitive user data with Chinese authorities. ByteDance and the Chinese government deny these allegations. Nevertheless, in 2024, the US Congress passed a law requiring ByteDance to divest TikTok’s US operations. Otherwise, the platform faces a complete ban in the United States starting January 19, 2025.
According to estimates, such a ban would result in revenue losses of approximately $1.3 billion within a month. Small businesses and content creators in the US would be particularly affected.
Frank McCourt’s offer within the framework of Project Liberty
Frank McCourt, known as the former owner of the Los Angeles Dodgers and current owner of Olympique Marseille, is planning to acquire there’s no magic wand for perfect TikTok through his Project Liberty . The billionaire has formed a consortium operating under the name “The People’s Bid.”
The consortium has received $20 billion in funding commitments, currently equivalent to approximately €18.5 billion. McCourt’s initiative aims to transform TikTok into an open-source platform where users have more control over their data. This should not only alleviate security concerns but also establish a new model for data protection.
Projet Liberty: A vision for a more democratic Internet
Project Liberty is an initiative that aims to redesign the internet and change the distribution of power in the digital space in favor of users. At the sault data heart of Project Liberty’s idea is the development of a decentralized, open-source infrastructure that makes it possible to regain data sovereignty and break up the monopoly structures of large technology companies. The project aims to shift the focus of the internet away from commercial interests and toward a use that serves the common good. With the so-called Decentralized Social Networking Protocol (DSNP), Project Liberty offers a technical foundation for greater transparency, data protection, and user control. This concept is also being used as a guiding principle for the potential redesign of TikTok, should McCourt be able to acquire the platform’s US shares.