Kevin O’Leary’s Surprising Strategy For TikTok’s Future Security And Growth

members of the Shark Tank cast in front of a wall at an ABC media event

Kevin O’Leary proposes a bold venture to secure TikTok’s future by changing ownership and securing user privacy—while the platform faces a looming U.S. ban.

At a Glance

Kevin O’Leary plans to acquire TikTok to address U.S. privacy concerns.
The venture aims to eliminate “Chinese back doors” and move servers to the U.S.
Legislation could permit TikTok to operate if ByteDance divests ownership.
A crowdfunding initiative gauges interest for a U.S.-focused TikTok.

O’Leary’s Acquisition Proposal

Kevin O’Leary, a noted investor and “Shark Tank” personality, is spearheading a proposed acquisition of TikTok in response to privacy issues and governmental scrutiny. O’Leary outlines plans to transform the app into an American company with a revamped algorithm to secure user data and comply with U.S. laws. His objective is to change the conversation from banning TikTok to discussing its restructured future without ByteDance influence.

The venture considers acquiring TikTok only if a federal ban occurs, emphasizing a solution to concerns over data leaks to the Chinese Communist Party. O’Leary believes this move could address legislative motivations for banning the app, supported by a bill passed with considerable backing. Transforming TikTok, he argues, hinges on eliminating perceived security threats and ensuring operational transparency.

Whoever buys TikTok will have to rewrite the algorithm. That’s the big risk because if it doesn’t work the way it does now, it’s not worth anywhere near $100 Billion. All you’re buying is 170 million names and a brand called TikTok. pic.twitter.com/iFTaALfgYg

— Kevin O'Leary aka Mr. Wonderful (@kevinolearytv) March 30, 2024

Backing of Co-Investors and Crowdfunding

This acquisition effort is backed by a collaborative team of co-investors who share O’Leary’s vision. While questions about his financial capability remain, the goal involves setting up a crowdfunding mechanism to solicit potential U.S.-based investors. This campaign seeks to democratize user data, ensuring protection against foreign adversaries through collective financial support and safe data management.

“I’d like to democratize TikTok and turn it into a platform where the user data is protected from the prying eyes of foreign adversaries,” said O’Leary.

The campaign, however, faces skepticism due to TikTok’s current market valuation, as well as discussions about the future role of its proprietary algorithm. Regulations limit participation in this venture to financially qualified U.S. individuals, encouraging buy-in without immediate financial commitments. Maintaining TikTok’s appeal, according to O’Leary, is paramount to safeguarding user trust and retaining the app’s dynamic platform.

Legislative and Legal Perspectives

The U.S. government continues to weigh legislation that could permit TikTok’s continued operations should an ownership shift occur in alignment with national security protocols. O’Leary’s vision offers a path to comply with legislative stipulations without escalating legal conflicts or involving the Supreme Court. A change in TikTok’s ownership, he asserts, aligns with rational regulatory expectations, prioritizing Americans’ data privacy.

Kevin O’Leary also said, “What’s going to happen here? We don’t have to shut TikTok down. It just has to change ownership to abide by American laws as deemed by an order of Congress.”

As ByteDance argues against the ban, claiming infringement on free speech, O’Leary criticizes their expectations of Supreme Court support. His forecast posits that national interest in safeguarding private data surpasses the international discourse on freedom of expression. This initiative underscores the aim of a secure, transparent, and legally compliant version of TikTok, facilitating a safer digital environment for American users.