Andrew King hones in on Mr. Trump’s announcement that Chinese President Xi Jinping has “approved” a TikTok deal. “Let’s stop pretending this is a culture war. It’s a power, data and capital war, one we are choosing to lose,” writes Mr. King, an investor at Bastille Ventures, investing in critical national security technologies, and president of Future Union. “TikTok is not allowed to operate in China, but it dominates the attention of American teenagers and 20-somethings because advertising budgets and American capital chose it.”
“Last year,” he writes in The Washington Times, “our research at Future Union mapped the money trail. U.S. public pensions have roughly $8.1 billion committed to funds with ByteDance investments; university endowments tally about $1 billion more; major nonprofits and foundations are in the mix, especially the Robert Wood Johnson, the MacArthur and the Mellon foundations, helping finance the Chinese Communist Party’s most effective propaganda tool.
“This is not incidental. China’s government holds a ‘golden share’ and a board seat in a key ByteDance subsidiary, embedding state leverage by design,” he writes. The deal Mr. Trump approved Thursday “posits a structure in which a U.S. company, Oracle, would host all U.S. data. Yet any ‘deal’ that preserves ownership, licensing or algorithmic influence, keeping America’s information environment downstream of a regime that can compel cooperation, is illusory. The threat is not just access to data but also the ability to steer the feed.”