TikTok $200 million investment

TikTok unveils a $200 million fund to pay US content creators. This Creator investment is intended to help top US video creators supplement their incomes. To be eligible for TikTok $200 million investment a creator has to be over 18 years of age. Additionally, the content creator has to have a currently unspecified number of account followers. Finally, in order for the content creator to be eligible he or she has to post consistent original content.  TikTok will begin accepting applications for the $200 million investment in August 2020. Additionally, it plans to distribute the money over the next year.

 

Reasons

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TikTok $200 million investment comes at a critical time for the company and its parent corporation ByteDance.¬† Specifically, in the US where there is growing concern over the platform’s handling personal data. Indeed, certain members of the government have been calling for the platform to be band in the US. These concerns are based off laws created by the Chinese government that would force ByteDance to spy for China. Specifically, they would have to hand over all their customers personal data an account access to the Chinese governments. As a results, TikTok created thev$200 million investment for content creators and other job opportunities for the US.

Also, members of the staff have repeatedly pointed out that all US user data stored in the US. Additionally, they claim the company is corporately licensed out of the Cayman Island. As such, TikTok is only subject to Cayman Island corporate laws aside from paying taxes. TikTok $200 million investment is clearly only intended for the US has not been offered any other countries content creators. ByteDanceis most likely trying to avoid a repeat of what happened India band the platform and lost 1 million creators. If the same events repeat for the United States the platform will lose 26 million contact creators.

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