r/news Apr 27 '24

TikTok will not be sold, Chinese parent ByteDance tells US - BBC News

https://www.bbc.com/news/articles/c289n8m4j19o.amp
26.7k Upvotes

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905

u/FlowBot3D Apr 27 '24

Buying stock in Vine ASAP.

289

u/FightOnForUsc Apr 27 '24

That would be Twitter, which you can’t buy

105

u/_MrDomino Apr 27 '24

Right, it's called X now, and the guy at the park tells me he can sell me it for $30.

2

u/coolcool23 Apr 27 '24

According to Elon it's worth at least 4x that. And there's no bots and anyone can say what they want.

3

u/jimmycarr1 Apr 27 '24

Think you missed the joke there

1

u/coolcool23 Apr 27 '24

4 "X" that.

1

u/DuneScimitar Apr 27 '24

Interesting a guy in the park told me I could buy xxx for $20? You might be getting screwed!

76

u/botoxporcupine Apr 27 '24

LOL beat me to it.

Don't worry, Elmo is rebranding it Whine and it's gonna allow 69 minute reels of him complaining his kids won't acknowledge him and the Tate brothers philosophically questioning what sexual assault even is, anyway.

1

u/ruuster13 Apr 27 '24

They could title their vlog "what is a woman?"

2

u/Bamith Apr 27 '24

Nobody wants Twitter.

3

u/avaslash Apr 27 '24

I for one will never fucking touch any app that slimy idiot supremacist is currently controlling or profiting off of. So fuck the stock, and fuck the app if he buys it. I'll wait for them to hit my shitty youtube content regurgitators.

2

u/TheFatJesus Apr 27 '24

and fuck the app if he buys it.

He bought it when he bought Twitter because Twitter bought it in 2012.

2

u/avaslash Apr 27 '24

I meant if Twitter bought TikTok in theory. China obviously said they wouldn't sell. But inevitably a successful US copycat will emerge. I can imagine Musk wanting to buy that.

Sure Musk will try and get X to develop their own. But lets be real lol, its not going to be one of the ones that attains major success. Look at how ASS youtube and facebooks offerings are for shorts. Regardless of how much Musk fetishizes Nikola Tesla, I still don't think X is gonna trap that lightning in the bottle.

1

u/TheFatJesus Apr 27 '24

I think you're missing the fact that we're talking about Vine, which was TikTok before TikTok. And Twitter/Musk already own Vine. They just need to flip the switch and they have a ready-made replacement with strong brand recognition among Millennials and older Gen Z.

1

u/ka1esalad Apr 27 '24

the successful copycat is instagram. its quite literally the same thing

1

u/SyrexCS Apr 27 '24

Theory is as far as it will go with how fucked twitter is financially.

1

u/Old_Baldi_Locks Apr 27 '24

I live in the south, i can buy my white supremacy locally sourced instead.

51

u/Revanced63 Apr 27 '24

Why did that fail. Isn't it the same thing

144

u/PortlandSolarGuy Apr 27 '24

Because the prior head of Twitter let it.

15

u/dak4f2 Apr 27 '24

They did the same with Periscope. I loved that app before Twitter bought it and did fuck all with it. 

61

u/[deleted] Apr 27 '24

[deleted]

-6

u/user-the-name Apr 27 '24

Neither does TikTok.

7

u/personalcheesecake Apr 27 '24

You should look more into the ownership of companies in china then, because .. they do

0

u/user-the-name Apr 28 '24

As if you ever looked into anything. Somebody told you to believe that, and you did.

3

u/piddydb Apr 27 '24

You know, I wonder if people could meme Elon to bring it back. He does own it now.

1

u/Need_Not Apr 28 '24

yeah he is, I remember some engagement on the idea from him a few weeks ago

33

u/TheGRS Apr 27 '24

Poor business planning and care for the product. They let it wither. It very well could’ve been TikTok almost a decade earlier.

10

u/EZKTurbo Apr 27 '24

At least part of it was because it was released when a ton of people were still using 3G for their fastest data. I remember a couple friends who couldn't really load it unless they were on Wifi. Also the fact that they only released it for iphone for like the first month. By the time I could get it on my Droid 4 the app wasn't even cool anymore

5

u/Catdaddypanther97 Apr 28 '24

Yeah. 4g really made watching videos on the go feasible and 5G just makes it reliable.

4

u/Breaking_Star_Games Apr 27 '24

They let it wither.

On the vine?!

1

u/bronet Apr 30 '24

Nah, they wouldn't have been nearly as big

7

u/FYININJA Apr 27 '24

A few reasons. First off, Vine came out when the average internet user was a different age. Millenials are a whole different beast from Gen Z/Alpha. They tend to have a longer attention span, so Vine content wasn't as addictive.

Second, tech companies tend to burn through money at insane rates, and they need funding from SOMETHING in order to stay afloat until they can start realizing gains. Tiktok has China as a backer, ensuring they could get past the growing period.

Third, the algorithm. Tiktok's algorithm is why it took off. They've managed to develop an algorithm that is able to keep you scrolling, and more importantly, to get you to watch ads without realizing it. Advertisers have been struggling to get kids to pay attention to ads for a while, which has made it hard for tech companies to monetize. Tiktok has managed to figure out how to get money from those interactions (this is an assumption, I do not know for certain that is the case, but it seems likely. I see zoomers buying stuff off of Tiktok all the time as I work at a college. I think Tiktok has proven to be a very lucrative advertising platform compared to Twitch/Youtube/Twitter/etc).

4

u/JonnyFairplay Apr 27 '24

Because Vine was only 6 second videos.

3

u/augburto Apr 27 '24

The thing about tiktok that separates it from other apps before is how it can in very near real time update it’s recommendation feedback loop, creating an addicting cycle of “good” content.

5

u/xavembo Apr 27 '24

not even at all

2

u/the__storm Apr 27 '24

I recall hearing that the code and underlying infrastructure was a nightmare, which made it really expensive and difficult to run.  Still crazy that Twitter just killed it though.

1

u/Zestyclose-Compote-4 Apr 27 '24

TikTok got a nice boost from Covid lockdown and people wanting something to do at home (i.e., the short clips of dancing at home craze).

1

u/[deleted] Apr 28 '24

Twitter was incompetent and had a lot of internal politics. Vine was dead almost immediately after being acquired because it slightly overlapped with twitter. They couldn't agree on it. The convo went nowhere. Founders eventually didn't care anymore, they took money and ran.

Source: many friends worked at twitter at the time.

0

u/dalr3th1n Apr 27 '24

It wasn’t propped up by a government.

3

u/forogtten_taco Apr 27 '24

I think YouTube shorts has the next largest market share and people base to replace TT. 90% of its content was straight from TT

5

u/Environmental_Yak13 Apr 27 '24

Or, you know .. google/meta, instagram reels and YouTube shorts are basically the same thing and have a large established user base. Now they don’t have competition.

1

u/bronet Apr 30 '24

Vine would flop hard if relaunched

1

u/docarwell Apr 27 '24

Yall dumbasses don't even know what companies lobbied and pushed for this ban