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Barstool Sports founder and president Dave Portnoy has expressed his concerns about the future of TikTok, stating that it’s “huge” for small businesses and content creators. The social media platform, owned by China-based ByteDance, went dark in the US after failing to sell to a US buyer. President Donald Trump signed an executive order giving TikTok a 75-day extension to continue operating in the US.
TikTok’s parent company, ByteDance, has refused to discuss the possibility of a sale, and instead, has chosen to risk losing its reportedly $50 billion US operation rather than comply with the law’s divestment requirement. This has raised concerns among lawmakers, including Representative John Moolenaar, who wrote an op-ed saying that TikTok’s attempts to blame the government are deceiving and that the platform must sever its ties with the Chinese government to continue operating in the US.
Portnoy, who appeared on “The Will Cain Show,” acknowledged that he doesn’t trust any social media network, including TikTok, which he believes collects user information. He expressed concern for small businesses and content creators who have built their livelihoods on the platform and are now facing uncertainty. Portnoy suggested that the government should consider a joint venture between current and new owners to give the US a 50% ownership stake in the platform, which he believes would be worth hundreds of billions of dollars.