Perplexity ai's offer for Tiktok could give us a 50% government to the government

Washington (AP) Perplexity AI presented a new proposal to the parent company of Tiktoks which would allow the United States government to hold up to 50% of a new entity which merges perplexity with the American affairs of Tiktoks, according to a familiar person with the problem.

The proposal, submitted last week, is a revision of a previous plan that the artificial intelligence startup presented to Tiktoks Parent Bytedance on January 18, one day before the prohibited law which prohibited in Tiktok.

The first proposal, to which Bytedance did not respond, sought to create a new structure which would merge the perplexity based in San Francisco with the Tiktoks US affairs and include investments from other investors.

The new proposal would allow the US government to have up to half of this new structure once it has made a first public offer of at least $ 300 billion, said the person, who was not allowed to talk about the proposal. The person said that the perplexity proposal had been revised on the basis of the Trump administration's comments.

If the plan succeeds, the actions belonging to the government would not have the power to vote, said the person. The government would not get room on the board of directors of New Company either.

Bytedance and Tiktok did not immediately respond to a request for comments.

As part of the plan, Bytedance would not have to completely reduce links with Tiktok, a favorable result for its investors. But that should allow complete control of the US board of directors, said the person.

Under the proposal, the technological company based in China would contribute to the American activities Tiktoks without the proprietary algorithm which feeds what users see on the application, according to a document seen by the Associated Press. In exchange, existing investors will have equity in the new structure that emerges.

The proposal seems to reflect a strategy that Steven Mnuchin, secretary of the Treasury during the first quarter, discussed Sunday on Fox News Sunday Morning Futures that a new investor in Tiktok could simply dilute Chinese property and satisfy the law. Mnuchin previously expressed his interest in investing in the company.

But technology must be disconnected from China, he added. It must be disconnected from Bytedance. There is absolutely no way that China never leaves us something like that in China.

The proposal for perplexity comes while several investors express their interest in Tiktok. President Donald Trump said late Saturday that he expects an agreement to be concluded in 30 days.

During a flight from Las Vegas to Miami on Air Force One, Trump also said that he had not discussed an agreement with Larry Ellison, CEO of the Oracle software manufacturer, despite a report that Oracle, with External investors, planned to take charge of the global operation of Tiktoks.

Many people talk to me. Very substantial people said Trump. We are very interested and the United States will be a large beneficiary. … I only do it if the United States takes advantage of it.

Under a bipartite law adopted last year, Tiktok was to be prohibited in the United States before January 19 if he had not reduced links with Bytedance. The Supreme Court confirmed the law, but Trump then made an executive decree to stop the application of the law for 75 days.

Trump, on Air Force One, noted that Ellison lives just on the road to his domain Mar-A-Lago, but added, I never talked to Larry de Tiktok. Ive spoke to many people from Tiktok and Theres a lot of interest for Tiktok.

Tiktok briefly closed the United States a week ago, but returned online after Trump said he would postpone the ban. Trump had tried an American ban on the platform without success during his first mandate. But he has since reversed his position and has credited the platform for having helped him win more young voters in the presidential election in recent years.

Tiktok CEO, Shou Chew, attended the inauguration of Trumps on January 20, as well as other technology leaders who have forged more friendly links with the new administration.

The congress voted to ban Tiktok in the United States for the sake that the structure of the property of Tiktoks represented a security risk. The Biden administration argued in court for months that it was too risky to allow a Chinese company to control the algorithm that feeds what people see on the application. Officials have also raised concerns about user data collected on the platform.

However, to date, the United States has not provided public evidence from Tiktok, putting user data to the Chinese authorities or allowing them to tinker with their algorithm.

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Hadero reported to South Bend, Indiana.

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