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Interestingly Tweety claimed that TikTok was funding a $5B (patriotic?) 'education' fund as part of this transaction. TikTok was like, "huh? We never agreed to that."[1] Turns out, Tweety was referring to likely tax revenues the US-based entity would bring into the country down the road -- but framing it as something 'extra' that he got.
Trump, who had previously called on companies such as Oracle and Walmart to pay the United States a "fee" to participate in the TikTok deal, said there would also be a $5 billion U.S. education fund as part of the deal. ...
Oracle and Walmart described the agreement differently. They said that together with ByteDance top investors General Atlantic, Sequoia and Coatue they would create an educational initiative to deliver an artificial-intelligence driven online video curriculum for children, from basic reading and math to science, history and computer engineering.
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We'll soon discover the actual end result.
Interestingly Tweety claimed that TikTok was funding a $5B (patriotic?) 'education' fund as part of this transaction. TikTok was like, "huh? We never agreed to that."[1] Turns out, Tweety was referring to likely tax revenues the US-based entity would bring into the country down the road -- but framing it as something 'extra' that he got.
[1] https://www.reuters.com/article/us-usa-china-tiktok-bytedance/bytedance-says-not-aware-of-5-billion-education-fund-in-tiktok-deal-idUSKCN26B039