5 ms·

If I read the bill correctly, any entity with an at least 20% chinese ownership stake (by a person or company) falls under this law... What are the other 2nd a

• jvanderbot 2y ago
  I guess I implicitly assumed that TikTok was the poster child for a more general / sweeping legislative push. Consider tech companies, startups, etc, operating under Chinese funding either directly or indirectly.
• btown 2y ago
  https://www.congress.gov/bill/118th-congress/house-bill/815/text#HF98E74DB07F44FE9871830B02846B8C1 https://www.congress.gov/bill/118th-congress/house-bill/815/... is the relevant text of the bill presented to the President. It's restricted to companies with 1M+ MAUs that allow users to create profiles and share content, and only then if the President makes a public notice and public report to Congress of that determination for a specific company. Covered countries are here: https://www.law.cornell.edu/definitions/uscode.php?width=840&height=800&iframe=true&def_id=10-USC-1197798417-780045830&term_occur=999&term_src=title:10:subtitle:A:part:V:subpart:I:chapter:385:subchapter:III:section:4872 https://www.law.cornell.edu/definitions/uscode.php?width=840... In theory, this could be used more broadly. Not a lawyer, but there's a reading that it would give a president the ability to unilaterally force divestiture in companies that have as little as a "choose your username for your online account" functionality. It's unlikely to affect B2B supply chains, though. Presidents have many existing tools at their disposal anyways if they want to disrupt those.
• deleted 2y ago
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