Is the TikTok Bill "Patriot Act 2.0"? #tiktok #technology #investing #business
00:00:00.000 | There's an old saying in Washington that the worst ideas are bipartisan.
00:00:04.040 | This bill doesn't just ban or force the divestiture of TikTok.
00:00:08.240 | It goes after what it calls foreign adversary-controlled applications.
00:00:13.420 | Then you get to the provision that I think is the most problematic, which is a person
00:00:16.980 | subject to the direction or control of a foreign person or entity.
00:00:21.380 | The novel language here is where it says subject to the direction of.
00:00:26.220 | In my view, that's very vague.
00:00:27.600 | A creative attorney general could try to say, "Well, wait a second.
00:00:31.040 | If Elon has a major Tesla factory in Shanghai, is he subject to the direction of the Chinese
00:00:37.360 | Communist Party?"
00:00:38.360 | Because they could influence him, they could leverage him.
00:00:40.160 | If Donald Trump is accused on virtually a daily basis of being a Russian asset, is he
00:00:45.360 | subject to the direction of Vladimir Putin?
00:00:48.000 | I don't know how anyone can look at this language and not say it's too vague.
00:00:52.320 | The bill poses a significant risk of being Patriot Act 2.0.