Social Media and Online Dating

• ⏳ President Trump extends TikTok’s U.S. deadline by 75 days, citing “tremendous progress” in talks to save the app from a national ban.

• 🇨🇳 A finalized deal to localize TikTok under U.S. ownership was derailed after Trump’s latest tariff hike on China.

• 💼 ByteDance says key issues remain unresolved, and any agreement must receive Chinese government approval.

President Trump on Friday announced a 75-day extension for TikTok to remain operational in the United States, delaying a potential ban on the wildly popular video app while talks continue on a deal to bring its U.S. operations under American control.

In a post on Truth Social, Trump said his administration was making “tremendous progress” and emphasized that it does “not want TikTok to ‘go dark.’” He added that officials are working closely with Chinese counterparts to reach a resolution.

Behind the scenes, a deal had reportedly been finalized earlier this week, according to two sources familiar with the matter. The plan would have spun off TikTok’s U.S. operations into a new, American-owned company, with majority control by U.S. investors and a minority stake retained by ByteDance, TikTok’s Chinese parent company.

Derailed by tariffs

However, those plans were derailed Thursday after Trump announced a 34% increase in tariffs on Chinese goods, part of a broader push for reciprocal trade policies. In response, ByteDance informed the White House that Beijing would not approve the deal under current conditions, stalling the agreement.

In a rare public statement, ByteDance confirmed it had been in discussions with Washington over a potential solution but said “key matters remain to be resolved” and any final agreement would require approval under Chinese law.

Trump hinted that his tariff policy is being used as leverage in the negotiations, calling tariffs “the most powerful Economic tool” and crucial to “our National Security.”

The reprieve provides temporary relief for TikTok’s millions of U.S. users and creators, but the platform’s future remains uncertain as geopolitical tensions between Washington and Beijing once again take center stage.

In brief ...

• 📱 AppLovin submits bid for TikTok, pitching its AI capabilities and economic potential to the Trump administration.

• 🎰 Casino mogul Steve Wynn was approached to help back the bid, as Washington pushes for a U.S.-led acquisition.

• 🇨🇳 Beijing’s approval remains a key hurdle, amid escalating U.S.-China tensions and looming tariff announcements.

With the U.S. government’s April 5 deadline to either sell or shut down TikTok rapidly approaching, a new suitor has entered the fray: mobile tech powerhouse AppLovin, the Wall Street Journal reports.

The $100 billion company has reportedly made a bid for the video-sharing giant and held discussions with casino magnate Steve Wynn about providing financial backing, according to people familiar with the matter.

AppLovin, known for its powerful artificial intelligence that helps tailor ads and analyze user behavior, is positioning itself as a domestic solution to national security concerns over TikTok’s Chinese ownership. The company claims it could not only protect user data but also spur economic growth by creating jobs in the U.S.

Meanwhile, President Trump is expected to be briefed Wednesday on a framework to keep TikTok operational under American oversight.

Growing list of bidders

AppLovin joins a growing list of bidders. Oracle, in partnership with U.S. investors such as Silver Lake and Blackstone, is preparing a competing offer. Amazon also submitted a last-minute bid, according to sources, though insiders suggest the White House doesn’t see it as likely to move forward. An Amazon spokesperson declined to comment.

While the White House seeks a resolution to its TikTok standoff, Chinese officials have signaled conditional openness to a deal. However, sources say Beijing views TikTok’s fate as one of several issues to negotiate with Washington—alongside Trump’s upcoming tariff proposals, also expected to be announced Wednesday.

Details of how TikTok would operate under a new ownership structure remain unclear, but sources say those decisions will likely follow once a deal framework is finalized.

Social media has provided a platform for users to show off what they’ve recently purchased. So-called influencers have played a big role in that trend.

But a new trend may be emerging. Over the last five years, many people on social media have posted videos talking about what they aren’t buying.

The Wall Street Journal reports the movement may be reaching critical mass, with the label “No Buy 2025.” More and more people on social media are pledging not to buy anything but essentials this year. They’re getting encouragement from videos like the one below, describing how it works.

Breaking the paycheck-to-paycheck cycle

The objective is not to unnecessarily deprive yourself. Rather, it’s to save money by cutting spending on things you don’t really need – many of which are hawked relentlessly on social media. Many people have found they no longer live paycheck to paycheck.

“We are spending so much less money, it’s crazy,” Rachel Holdsworth, a part-time nurse and stay-at-home mom from Indiana, told the Journal. “It’s been very empowering to live within our means.” 

 Marcus Sturdivant Sr., a Charlotte, N.C., financial advisor, thinks stating a goal like “No Buy 2025” out loud is not a bad idea.

“Stating one's goals out loud and telling others increases accountability and follow-through,” he told ConsumerAffairs. “This is usually a 12-month challenge so give yourself some grace if you fall off the no-buy wagon and purchase something. Some latitude is important in any financial goal.”

Sturdivant says choosing an “accountability buddy,” someone else with the same goal, may improve chances for success. He also says there is no need for what may be unrealistric goals. He suggests a “No Buy February 2025 to start.

UPDATE 12:44 pm ET, 1/19: TikTok shut down access to its site in the U.S. Sunday afternoon ahead of Monday's deadline imposed by a new law banning the Chinese-owned site. But President-elect Trump said he will issue an executive order when he takes office Monday that will give the site a 90-day extention and the site became visible again..

Friday night President Biden was said to be taking a pass on TikTok, leaving it up to incoming President Trump to decide to shut it down, as required by law. But today the Supreme Court upheld the law banning the wildly popular platform if it remains under Chinese ownership.

That apparently leaves no room for executive clemency and means TikTok must go dark Sunday night. An unnamed White House official was quoted Thursday night as saying Biden would delay implementing the measure, leaving it up to Trump, who takes office on Monday.

Such a move by Biden would have delayed the ban's taking effect, leaving it to Trump to say yea or nay. Trump has said he wants to "save" TikTok and was reportedly considering issuing an executive order that would delay implementation of the ban for 90 days.

But the law enacted by Congress and signed by Biden with bipartisan support requires TikTok's Chinese owner, ByteDance, to divest the company or be banned from operating in the U.S.

More than 170 million Americans are registered users of the platform and thousands more are content creators who produce videos and other short bits that keep millions of fans entertained. Those content creators are said to be "terrified" at the prospect of a shutdown, which would put them out of business, at least for awhile. 

The court's ruling turned aside arguments that the ban violates the First Amendment rights of Americans who want to watch the often unusual material that has made TikTok a massive force in entertainment. 

Several justices noted that foreign companies, like TikTok owner ByteDance, do not have any First Amendment rights. Also, the First Amendment protects the right to speak and publish but doesn't specifically protect the recipients of disputed material -- the audience, in other words. 

The fear is that the Chinese-owned company is gathering intelligence that could be used by the Chinese goverment to gather damaging intelligence from those who watch the dancing cat videos and other attractions.

There has been speculation that Trump is forging a path for billionaire Elon Musk to acquire TikTok and merge it into his X, formerly Twitter. If Musk or another American billionaire bought the site before Sunday night, it could presumably stay alive. 

TikTok CEO Shou Zi Chew is expected to attend Trump's inauguration and to have a prime seating location for the ceremonies.  

“We will put measures in place to keep TikTok from going dark,” incoming White House national security adviser Mike Waltz told Fox News on Thursday, noting that the new law allows for an extension preventing it from taking effect “as long as a viable deal is on the table.” 

TikTok executives knew that hundreds of thousands of minors were accessing its LIVE product and that its age restrictions were ineffective, Utah officials claim. They say the company’s own investigation recognized that children were being sexually exploited, and that TikTok decided not to do anything about it. 

The allegations include details from TikTok’s internal investigation, what the company called “Project Meramec,” which revealed that TikTok knew about the problem. The charges are just coming to light because previously redacted -- or sealed -- portions of a complaint are being made public. 

“Utah’s unredacted complaint demonstrates how clearly depraved TikTok’s business model is. Such a blatant disregard for the safety of our children on the platform, not to mention profiting from their exploitation, shocks the conscience and proves that TikTok harms children,” said Utah Governor Spencer Cox. in a news release.

As of January 5, 2025, TikTok's future in the United States is uncertain due to legal challenges and potential regulatory actions. In April 2024, Congress passed a law which mandates that ByteDance, TikTok's Chinese parent company, divest its U.S. assets by January 19, 2025, or face a nationwide ban. The company has appealed to the Supreme Court, which has agreed to hear the case. 

Users exploited

The less-redacted complaint, which is being filed with permission of Judge Coral Sanchez of the Utah Third District Court, reveals allegations that highlight concerns that TikTok operates an open-door policy allowing predators and criminals to exploit users, especially children.

Additionally, it alleges that TikTok pockets as much as half of every money exchange it brokers on its LIVE platform. Through the coins and gifts, some of which take the form of plush toys targeted to very young minors, TikTok reaps exorbitant profits, the complaint alleges.

TikTok’s internal investigation and the admissions of its employees document how TikTok LIVE allows adults to pay young users to strip, pose, and dance provocatively for “diamonds,” which can be cashed out for real money, Utah officials said. 

TikTok’s alleged profiteering extends beyond child sexual exploitation. The complaint alleges TikTok performed another internal investigation called “Project Jupiter” that concluded that its livestream feature, along with its virtual currency, has enabled criminals to launder money, sell drugs, and fund terrorist groups, such as the Islamic State of Iraq and Levant (ISIL).

“Sadly, social media is too often the tool for exploiting America’s young people. Online exploitation of minors has exploded, leading to depression, isolation, and other tragedies such as suicide, addiction, and trafficking," said Utah Attorney General Sean Reyes. 

"More of TikTok’s shocking conduct will now be public through this unredacted complaint. And with discovery, the full extent of its culpability can be demonstrated at trial,” Reyes said

Money laundering allegations

The complaint also alleges that TikTok’s algorithm favors and boosts live feeds that receive virtual currency gifts. As the complaint alleges, those feeds with a high currency exchange involve money laundering, sexual content, or both.

"As a result, this dangerous content is prioritized and featured at the top of user feeds and labeled as 'TopLives.' Thus, new or curious children on the platform will fall into a hazardous community with no warning," Reyes said.

This case marked the second lawsuit by the state against TikTok. In October 2023, Utah filed a consumer protection case against TikTok for intentionally designing and implementing addictive features aimed at hooking young users into endless use of its app.

“Since the state’s first complaint against TikTok, we have had to fight tooth and nail to get this information from them, said Margaret Woolley Busse, Executive Director of the Utah Department of Commerce. “Now that the court has allowed us to make more of the Division’s complaint public, it shows just how TikTok has been lacking in any moral guardrails and how they have knowingly put our kids at risk.”

Situation is fluid

President-elect Donald Trump has requested a delay in enforcing the law banning TikTok until after his inauguration on January 20, to allow time for a political solution. The U.S. Department of Justice has opposed this request, emphasizing national security concerns.