Venture capitalist Paul Graham backed the TikTok ban, adding that China's Ministry of Foreign Affairs’s vehement opposition further reinforces the argument in favour of the bill.
What Happened: Graham reacted to a tweet posted by China's foreign ministry, which said the TikTok ban goes against the principles of fair competition.
"This is possibly the strongest evidence yet that the TikTok bill is the right choice."
This comes after TikTok CEO Shou Zi Chew posted a video warning that a ban on the social media platform would take "billions of dollars" out of the pockets of creators and small businesses.
He also said it would threaten "more than 300,000 jobs" in the country.
See Also: ‘Diablo’ Fan Elon Musk Slams ‘Woke’ Influence In Video Games, Calls It ‘Tedious Propaganda’
On the other hand, the Chinese foreign ministry warned that a TikTok ban would be unfair.
"The #TikTok bill passed by the US House of Representatives puts the US on the wrong side of the principles of fair competition and international trade rules."
Interestingly enough, X's Community Notes feature fact-checked the Chinese foreign ministry, highlighting that the Xi Jinping government has a firewall that blocks websites.
Why It Matters: The TikTok bill, if passed, would require the app’s parent company, ByteDance Ltd., to either sell TikTok or face a ban in the U.S., impacting around 150 million American users.
This development comes after the U.S. House of Representatives overwhelmingly voted in favor of the bill, which is now headed to the Senate.
Billionaire Mark Cuban expressed support for the ban, citing concerns over foreign governments influencing children through the app without transparency.
Tesla Inc. CEO Elon Musk voiced apprehensions over the potential for increased internet censorship, describing the situation as a “serious concern.”
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Disclaimer: This content was partially produced with the help of Benzinga Neuro and was reviewed and published by Benzinga editors.
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