Comment by doctorpangloss 13 hours ago
It would have been great for ByteDance to IPO TikTok in the USA, it has had plenty of time to do so, it would have made lots of people boatloads of money, Chinese and Americans alike. Even Snapchat, which had similar levels of pervasive arrogance, IPO'd.
In the late 80s and early 90s, the foreign-exchange reserves of China was less than a billion dollars. The US government could spend $50M to negotiate a lot of things from China, like having a war with Vietnam even though it was Soviet who was behind Vietnamese government. Nowadays, Chinese government could easily say fuck this $100B. Papa can afford it to call your bluff.
It's great that an entire nation can gain wealth through hard work and good strategic decisions, at least in some way. But it hurts me that the US lost its way in the process by losing so much manufacturing capabilities, to the point that we can't even adequately produce saline solutions, nor could we make shells or screws for our war planes cheaply.
So, you could say that that sweet large scale mind control is apparently worth more than $100b to them...
Even if the money from the IPO itself doesnt go to directly to random citizens it still pumps a ton of money into their economy providing capital for other investments in new markets creating jobs, spending on goods/services by the company, hiring internally (IPOs always allow companies to expand), etc etc. That money doesn't just sit in a giant pile being unused, like Scrooge McDuck's gold pile.
Not to mention the training and development it would give a whole new class of people in China to operate global businesses.
You don't put your treasure for sale, at least not when you have extracted its value first.
Yes. The Chinese government probably lost its citizens around $100b by not allowing TikTok to sell.