Dave Portnoy, founder and president of Barstool Sports, said it's hard to underestimate the importance of TikTok. Small businesses and content creators Lawmakers are considering next steps for social media platforms.
“I'm very concerned about how many people are making a living. The amount is huge. You can't underestimate it. It's all pretty confusing because the people who are there are writing the bills,” he said on Tuesday's “Will Cain Show.”
Things went dark in the US late Saturday night after TikTok set foot in China Parent company ByteDance failed to sell the platform to US buyers;
As seen in this photo illustration, the TikTok ban message appears on the mobile screen and the TikTok logo appears on the tablet screen. Photographed on January 19, 2025 in Brussels, Belgium. (Jonathan Ra/Sipa USA)
President Donald Trump, who supported the 2020 ban on TikTok, signed an executive order on Monday, his first day in office, extending TikTok's continued operation in the United States for 75 days.
John Moolener (R-Mich.), chairman of the House Select Committee on the Communist Party of China, wrote: Editorial explaining next steps For TikTok.
Senator calls TikTok a 'weapon' and says Americans 'need to know the chilling truth' about TikTok
“TikTok's attempt to blame the government is a deception. The law is not a ban, and Congress gave TikTok an easy path to continue operating by cutting ties with the Chinese government and lifting restrictions immediately. ,” Moolener wrote. “When the law was enacted last April, Congress gave TikTok’s Chinese parent company ByteDance 270 days to sell its shares and relinquish control of the platform.”
“But ByteDance is refusing to discuss a possible sale, even as American buyers are lining up to make offers. In a move that has raised eyebrows, the company has reported According to reports, they plan to keep an eye on the deal.” $50 billion US business “Rather than following the simple sale requirements of the law, it will come under fire,” he continued.
In this illustration taken on January 6, 2020, the TikTok logo is displayed on a smartphone. (Reuters/Dado Luvich)
In a video posted to YouTube, Portnoy said he saw a discussion on TikTok during the early days of the COVID-19 pandemic when the government told businesses not to open their doors because they needed to “protect you.” He said it reminded him of those days.
“There are a lot of creators and small businesses who have worked for years and years and years to make a living and build a career on TikTok. They finally made it and the government says boo boo! Sorry, cut off your legs. No more. It’s over,’” he said in the video.
Portnoy told Fox News host Will Cain that he doesn't trust any social media networks, and admitted he doesn't know much about how social media networks affect people. The Chinese Communist Party uses apps To collect user information.
FILE – This Feb. 25, 2020 file photo shows the TikTok icon in New York. President Donald Trump plans to order China's ByteDance to sell popular video app TikTok, citing national security concerns, according to a report published on Friday, July 31, 2020. “We're looking at TikTok,” President Trump reportedly told reporters at the White House on Friday. “TikTok may be banned.” (AP Photo/File) (AP Photo/File)
“We don't have the Secret Service telling us everything they're worried about. We understand disinformation to some extent. Spies? I don't know. I'm just a regular guy sitting here watching TikTok and asking, What are they talking about? ” he explained.
President Trump wrote on Truth Social over the weekend: There are “joint ventures” in the United States. The United States will have a 50% ownership interest in a joint venture established between the current owner and/or the new owner, and between the United States and our selected acquisition target. ”
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He added that without U.S. approval, “TikTok would not exist.” “With our approval, it would be worth hundreds of billions of dollars, perhaps trillions of dollars.”
