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Former treasury secretary Steven Mnuchin is telling rich investors he has a plan to take over TikTok: rebuild the wildly popular video app from scratch.
The investment banker who served under President Trump has told potential backers that he aims to maneuver around two giant obstacles facing those vying for the platform: its estimated price tag of more than $100 billion — far beyond what most suitors, including Mnuchin, could afford — and the Chinese government’s ban of the export of recommendation algorithms, TikTok’s secret sauce.
https://www.washingtonpost.com/technology/2024/03/30/tiktok-mnuchin-sale-algorithm/
The investment banker who served under President Trump has told potential backers that he aims to maneuver around two giant obstacles facing those vying for the platform: its estimated price tag of more than $100 billion — far beyond what most suitors, including Mnuchin, could afford — and the Chinese government’s ban of the export of recommendation algorithms, TikTok’s secret sauce.
https://www.washingtonpost.com/technology/2024/03/30/tiktok-mnuchin-sale-algorithm/