TikTok heads to the Supreme Court tomorrow
Marketplace All-in-One
Marketplace
4.5 • 1.4K Ratings
🗓️ 9 January 2025
⏱️ 8 minutes
🧾️ Download transcript
Summary
On Friday, the Supreme Court holds the fate of many of the nation’s content creators in its hands. TikTok parent company ByteDance wants the court to halt a bipartisan law that would require the company to sell the social video platform to a U.S. company. But ByteDance has a backup plan just in case. Plus, 2024 was a record year for bankruptcies, and Peru’s Chinese-funded port aims to reshape global trade.
Transcript
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| 0:00.0 | TikTok fights on multiple fronts to keep its U.S. business. I'm David Brancaccio. |
| 0:08.4 | Tomorrow, the Supreme Court will look at TikTok's plea for it to stop a law passed with bipartisan |
| 0:14.5 | support in Congress that forces the China-based company to sell its U.S. operations to a U.S. |
| 0:19.6 | company by this January the 19th, |
| 0:22.3 | Marketplace's Kimberly Adams reports. The government says TikTok is a national security risk for the |
| 0:28.1 | United States and a privacy risk for users. But now, President-elect Trump is asking the court to put |
| 0:35.0 | the law on hold. So, says Dan Wong, a professor at Columbia Business School, |
| 0:40.6 | the parent company, bite dance, is dragging its feet on implementing this. It is also raising concerns |
| 0:47.1 | that this is a violation of free speech rights as well. In the meantime, says Joe Freed, a media consultant and CEO of advertising firm, AdOps.a. |
| 0:58.8 | I think advertisers, brands, agencies have had plenty of time to start thinking about what comes next after a potential ban. |
| 1:08.0 | And ByteDance has been encouraging users to sign up for another one of its |
| 1:11.8 | platforms called Lemonade, hoping to preserve some of its audience just in case. TikTok could make |
| 1:18.8 | that pitch to its users that, hey, all you got to do is move over here. And now Congress has a |
| 1:24.7 | moving target. Mark Miller is an attorney with the Pacific Legal Foundation. |
| 1:29.5 | The law is not written in a way that bite dance couldn't try and use that way to circumvent the law. |
| 1:35.7 | Whether that particular dance would fly in court, who knows. |
| 1:40.5 | In Washington, I'm Kimberly Adams for Marketplace. |
| 1:43.7 | There is news just now that billionaire Frank McCourt is part of a consortium of private equity, |
| 1:49.0 | family firms, and other rich people that is preparing to bid for TikTok's U.S. assets. |
| 1:54.5 | McCord, an entrepreneur, who used to own the L.A. Dodgers, said in a statement by keeping the |
| 1:59.1 | platform alive without relying on the current |
| 2:01.5 | TikTok algorithm and avoiding a ban, millions of Americans can continue to enjoy the platform. |
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