❌

Reading view

There are new articles available, click to refresh the page.

Roblox could be the latest company to follow Elon Musk out of Delaware

A picture of Roblox cards
Roblox shareholders will vote in May on a proposal to leave Delaware and reincorporate in Nevada.

Jakub Porzycki/NurPhoto via Getty Images

  • Roblox could move its corporation from Delaware to Nevada.
  • Shareholders will vote on the possible move in May.
  • Some companies have followed Elon Musk's decision to reincorporate his companies outside Delaware.

Delaware's reputation as the country's most corporate-friendly state has taken another hit.

Roblox is now the latest company to propose leaving Delaware, according to a note it sent to its shareholders this week. Numerous other major corporations β€” like Dropbox and Bill Ackerman's Pershing Square Capital Management β€” have also said in recent months they planned to leave Delaware. Meta, too, is rumored to be considering a move.

The trend began with Elon Musk, who moved Tesla and SpaceX out of Delaware last year after a Delaware judge sided with some Tesla shareholders to block Musk's $55 billion pay package.

In the note, Roblox's board of directors, who have already approved the move, urged shareholders to support the proposal.

"We believe that Nevada's corporate law framework and statutory regime aligns with Roblox's culture of innovation, values, and mission to connect the world with civility and optimism," the company said in its note to shareholders. "It also allows us to continue to build shareholder value by providing a supportive, predictable environment."

The ongoing exodus is devastating for Delaware, which has long been considered the country's most business-friendly state. According to Delaware's government, the state is home to some 2.2 million registered entities, which contribute millions to its revenue. In 2024, more than 80% of IPOs in the United States were incorporated in Delaware.

Delaware Gov. Matt Meyer has moved to make changes to address concerns.

"The fact is Delaware is the best location in the world for a company to incorporate and that's thanks to our legal expertise dating back to 1792," Meyer told Business Insider in February. "But let's be clear: If any entity leaves Delaware, we're going to work to win them back."

Meyer said the balance of shareholder and management rights is one of the areas the state intended to address. "We're cognizant that there may be some things that need to change. We're going to work on them," he said.

On March 25, the governor approved a number of proposed changes. But for some corporations, those fixes might be too little too late.

A Roblox spokesperson told BI the company believed reincorporating in Nevada could "provide a stable and predictable legal environment in which the Company can focus on innovation and growth."

Read the original article on Business Insider

I moved in with my grandparents thinking it was temporary. It's been 3 years and the best decision I've made.

Woman posing with granddad
The author moved in with her grandparents three years ago.

Courtesy of the author

  • Moving back home deepened my bond with my grandparents in unexpected ways.
  • Losing my grandmother taught me to cherish every moment with loved ones.
  • This experience showed me the power of slowing down and being present.

In July 2022, I moved back to my grandparents' house, thinking it would be temporary.

After a decade away for college and work, I saw it as a reset before finding my next place. My plan was simple: settle into my new job, find an apartment, and move out. But what I thought would be a short stay became one of the best decisions of my life.

We've always been close

I've always been close to my grandparents. As the oldest grandchild and only girl, I was their baby. Even when I lived far away, I visited during the holidays, always staying at their house. No matter how much time passed, being with them felt like home.

My grandmother was excited when I moved back. Before I moved, she called to ask, "What color do you want your room?" She insisted on personalizing my bedroom. I laughed at the thought of being in my 30s and having my grandmother decorate my room, but we settled on pink, which is my favorite color.

It was about the simple joys of life

Living with my grandparents wasn't about big adventures but about small, simple joys.

Each morning, my grandmother asked, "Do you want grits and eggs?" even though she knew the answer was always yes. Cooking was her love language, and making sure we had a hot meal brought her joy.

But Saturdays were for Cracker Barrel. She loved the Grandma's Sampler Breakfast, and we went every weekend. My mom often joined, turning it into a family tradition. I used to joke that I was tired of Cracker Barrel, but she never budged.

Looking back, I'm so glad she didn't.

These outings weren't just about the meal. She loved picking out greeting cards and taking her time to find the perfect ones. She often wrote me notes in them, reminding me how much I was loved. I still have them all.

At the time, I didn't think much of these routines. Now, they mean everything.

My grandmother died

I moved home thinking I had all the time in the world. Exactly two years later, on July 31, 2024, my grandmother went into the hospital while I was at a conference. That night, we learned the diagnosis: stage 4 cancer. We had just 30 days left with her.

One month. That's all the time we had to squeeze in every conversation. How do you say goodbye to someone who was just here?

Now, it's just me and my granddad. Our routines have changed, but I treasure them just as much. Every morning, he wakes me up with the same phrase: "Don't sleep too long, you gotta get up!" We take drives, talk about life, and share stories from his childhood and his journey to Chicago in the 1960s.

He always tells me how proud he is of me, and I hold on to it a little tighter each time.

Living with them changed my perspective

Before moving home, I was always focused on what was next: chasing my career goals and personal milestones and constantly checking boxes. But these past two years have changed my perspective.

I've learned that success isn't just about moving forward but about being present. It's about realizing that the little moments we often overlook are the ones that matter most.

My grandmother always told me, "Do everything from a place of love." That's how she lived, and I carry that lesson with me every day.

If I could go back to 2022, I'd tell myself to take it all in. I'd sit with my grandmother for just one more conversation. I'd let her drag me to Cracker Barrel more than once a week. I'd hold on to every moment a little longer.

But since I can't, I do the next best thing. I cherish every second with my granddad. I listen to his stories, laugh at his jokes, and show up because one day, these will be the moments I look back on, just as I do with my grandmother now.

Read the original article on Business Insider

I finally get the Costco hype now that I moved from an apartment to a house. Here are 18 purchases I swear by.

costco cart full of groceries
I shop at Costco about once a month now that I live in a house in California instead of an apartment in New York City.

Julia Gilban-Cohen

  • I grew up in tiny NYC apartments, so the thought of shopping at Costco was a distant luxury.
  • However, my partner and I recently moved into a house in Los Angeles and now love it there.
  • We get gas, protein bars, batteries, frozen fruit, and more at Costco each month.

I grew up in New York City and have always lived in small apartments without much storage space. It just never made sense for me to buy groceries in bulk.

However, my partner and I recently moved to Los Angeles, and now we have a whole house to ourselves. One of the best perks of our new life is taking monthly trips to Costco for all our favorite items.

Here are my favorite things to get there.

Gas is always at the top of our shopping list.
gas pump at costco
I probably fill my car up about once a week at Costco.

Julia Gilban-Cohen

We tend to have a Costco shopping trip at least once a month, and I also go there about once a week to fuel my car.

Gas is expensive, especially in Los Angeles, and Costco typically has unbeatable prices β€” particularly for premium, which is what my Mini Cooper takes.

The best part is I can easily check the rate on a daily basis when using the store's app, which helps me determine if Costco gas prices are better than competitors that day.

We often buy a five-pack of steaks to use for dinners throughout the week.
pack of five steaks at costco
We eat a lot of Kirkland Signature steak.

Julia Gilban-Cohen

My partner is a carnivore to the max. To him, nothing beats the five-pack of the Kirkland Signature boneless New York steaks.

They taste great on the grill or in a cast-iron pan and are often the star of a delicious weekday meal for us.

Ribs are also a must-buy.
bulk pack of ribs at costco
We can get a huge rack of ribs at Costco.

Julia Gilban-Cohen

We never skip out on buying Costco's ribs, especially since we can get over 9 pounds of meat for about $35.

The store also stocks pre-seasoned ribs, which are great when we're out of our homemade dry rub. We'll make these for ourselves or when having friends over for a barbecue.

Greek yogurt is a versatile staple.
tub of kirkland greek yogurt
I'm a fan of the Kirkland brand of Greek yogurt.

Julia Gilban-Cohen

I'm a huge fan of Kirkland Signature products, and I especially like the label's organic Greek yogurt.

It's perfect for making smoothies creamy or adding protein to granola.

I have plenty of room in my freezer for frozen fruit.
big bag of frozen strawberries at costco
On one trip, I got 4 pounds of strawberries for $10.

Julia Gilban-Cohen

Now that I live in a house, I have room in my freezer to buy staples in bulk, like frozen strawberries.

I'm usually pretty happy with the prices of frozen fruit at Costco, so I pick up mixed berries or strawberries there.

Recently, I got 4 pounds of Kirkland Signature organic strawberries for $10, which felt like a steal compared to prices I've seen at other local grocery stores.

Kirkland Signature paper towels feel like a steal.
stacks of paper towels at costco
I buy big bulk packs of paper towels at Costco now that I have storage space.

Julia Gilban-Cohen

Again, now that I have the space, I'm able to buy more household staples in bulk.

We often pick up big packs of the Kirkland Signature paper towels and store them in our shed to optimize kitchen space.

These affordable paper towels are thick and powerful. One 12-pack of rolls often lasts us over two months, especially since we supplement the use of them with microfiber cloths.

I also get my batteries in bulk.
bulk packs of batteries at costco
Kirkland Signature has batteries.

Julia Gilban-Cohen

Since we live in a house with a ton of random gadgets, we somehow always need batteries. I try to keep a few varieties on hand.

Fortunately, we've found Kirkland Signature batteries to be fairly affordable and easy to buy in bulk. They especially came in handy during the recent California wildfires, when we lost power and needed to use flashlights.

I'm so glad we've found sugar-free Liquid IV.
bulk packs of sugar free liquid IV
I can't find the sugar-free version of Liquid IV at most stores near me.

Julia Gilban-Cohen

Working from home, I get distracted and find myself not hydrating frequently or as much as I should. So, I like that I can use Liquid IV to boost the flavor and hydration power of my water with electrolytes and sugar-free flavoring.

I'm usually not able to find sugar-free Liquid IV at my local grocery stores, but Costco always seems to have some packs in stock.

We go through a lot of Kirkland Signature protein bars.
boxes of kirkland protein bars
I usually eat one Kirkland Signature protein bar a day.

Julia Gilban-Cohen

My partner and I typically each eat one Kirkland Signature protein bar a day.

I don't eat too much meat, so these bars help me easily get 21 grams of protein when I need a boost.

We usually buy the variety pack with 10 cookie-dough and 10 brownie bars. My partner likes the cookie-dough flavor, and I prefer the brownie one β€” a match made in heaven.

Dates are always in my cart.
bulk pack of dates at costco
I love dates.

Julia Gilban-Cohen

I'm a huge date girl. Dates really are nature's candy.

I love eating them raw on their own, making date bark with some peanut butter and chocolate chips, or incorporating them into a smoothie or yogurt bowl.

They're a great source of fiber, potassium, and magnesium too.

Costco has some of the best deals on vanilla extract I've seen.
bulk vanilla extract at costco
I like buying big bottles of vanilla extract.

Julia Gilban-Cohen

I love baking, but quality vanilla extract is a key ingredient in many recipes that can be expensive and hard to find in larger quantities.

At Costco, however, I can find 16 ounces of pure vanilla extract for under $12. To me, that's an amazing deal.

Nothing beats the Kirkland Signature three-pack of honey's flavor and price.
bulk honey bottles at costco
I've been happy with the quality of Kirkland Signature honey.

Julia Gilban-Cohen

Kirkland Signature honey is one of our pantry staples since I'm a huge tea fan and love adding it to my drinks. I also recently got my partner into peppermint tea, which can be enhanced with a dollop of honey.

This honey tastes high-quality β€” and getting three 24-ounce bottles of it for under $13 feels like a bargain.

Costco sells my favorite pimple patches.
hero mighty patch pimple patches at costco
My Costco sells Hero Mighty Patches.

Julia Gilban-Cohen

Yes, I still struggle with acne in my late 20s. I really like the pimple patches from Hero because they can hardly be seen when they're applied correctly.

I'll often wear one or two when I'm traveling on a plane, taking a between-Zoom-meeting stroll, or even having virtual calls.

The stickers help me avoid picking at my skin, and I'm a firm believer they make my pimples disappear much faster.

Having bulk containers of allergy meds has been a game changer.
bottle of bulk allergy medication at costco
I get bad seasonal allergies.

Julia Gilban-Cohen

As someone who deals with allergies, I always try to keep medication on hand that will help me deal with symptoms.

Name-brand options can get pricey, especially since I take tablets every day. So, I opt for Kirkland Signature allergy medicine.

The $5 bottle of 600 pills does my wallet a huge favor.

Big containers of ibuprofen can come in handy, too.
bulk bottles of ibprofen at costco
I stock up on ibuprofen at Costco.

Julia Gilban-Cohen

One of the first things we did when moving into our first place together was buy a first-aid kit. After that, we stocked up on some of our staple medications, like ibuprofen

I can get big tubs of CeraVe at the bulk retailer.
bulk pack of cerave moisturizer at costco
I love that I can grab my skincare alongside my groceries.

Julia Gilban-Cohen

Since moving to Los Angeles, my skin has struggled to adjust to the dry climate. So, I've been buying bulk packs of the CeraVe moisturizing cream and using it morning and night.

Hydrating and not greasy, the cream has been my hero as of late. Plus, it's fairly affordable at Costco at $25 for two 16-ounce tubs.

I like to peruse the clothing section while I'm shopping.
lounge wear sets at costco
Some of the lounge sets at Costco are comfy and pretty affordable.

Julia Gilban-Cohen

Perhaps one of the best things about Costco is that it's truly a one-stop shop. I always check the retailer's clothing section and often pick up a piece or two.

My latest favorite purchase is the $18 two-piece lounge set from Honeydew. It's so cozy and especially great on long car or plane rides.

I have to end every Costco run at the food court.
people in line at costco food court
Costco's hot dogs are good and cheap.

Julia Gilban-Cohen

Lastly, we end our shopping trip with celebratory Costco hot dogs, which cost just $1.50 each and come with a soft drink.

Click to keep reading Costco diaries like this one.

Read the original article on Business Insider

Trump announced double-digit tariffs on dozens of countries. Here's what the US imports from some of the most affected ones.

Donald Trump
President Donald Trump announced a range of tariffs on dozens of countries.

Brendan SMIALOWSKI / AFP via Getty Images

  • Trump announced double-digit broad tariffs on imported goods from dozens of countries.
  • They included new levies on all goods from key trading partners like China and the European Union.
  • These are the top goods that the US imports from countries facing some of the toughest new tariffs.

President Donald Trump's slew of broad tariffs target dozens of countries, including many key US trading partners. A range of goods Americans rely on will be affected.

On Wednesday, Trump signed an executive order to implement broad tariffs on over 180 countries that have placed tariffs on US goods. On top of a 10% baseline tariff, the president said he'll impose additional double-digit tariffs that the administration argued were based on tariffs and other trade barriers those countries placed on the US.

"They do it to us, and we do it to them. Very simple. Can't get any simpler than that," Trump said during his remarks.

Some affected countries have already warned of retaliatory tariffs following Trump's announcement; Ursula von der Leyen, the president of the European Commission, said during a speech ahead of Trump's executive order that "we do not necessarily want to retaliate but, if it is necessary, we have a strong plan to retaliate and we will use it."

Here are the top goods the US imports from some of the major countries hit by Trump's newest tariffs.

China

Trump announced a 34% tariff on goods imported from China in addition to the earlier 20% tariff he placed on them last month. The US imported $438.9 billion worth of goods from China in 2024.

Census Bureau data showed that radio and television broadcasting and wireless communications equipment were major imports from China in 2024. Computers, apparel, and footwear were among the top goods imported based on dollar value.

European Union

Trump announced a 20% tariff on goods imported from the European Union. The US imported $605.8 billion worth of goods from the EU in 2024.

Some of the key imports from the EU based on 2024 data involve healthcare-related goods, including pharmaceutical preparations.

Vietnam

Trump announced a 46% tariff on goods imported from Vietnam. The US imported about $136.6 billion worth of goods from the country in 2024.

The top 10 imports from Vietnam in 2024 based on dollar value included computer-related and other equipment, furniture, and semiconductors.

Taiwan

Trump announced a 32% tariff on goods imported from Taiwan. The US imported about $116.3 billion worth of goods from the country in 2024.

The top 10 imports from Taiwan in 2024 included various kinds of electronic and computer equipment, fasteners, and semiconductors.

Japan

Trump announced a 24% tariff on goods imported from Japan. The US imported $148.2 billion worth of goods from the country in 2024.

Vehicles, vehicle parts, and motors were among the top 10 goods imported from Japan in 2024.

Read the original article on Business Insider

JD Vance says Elon Musk isn't going anywhere

Elon Musk attended the Army-Navy football game alongside President-elect Donald Trump and Vice President-elect JD Vance.
Musk attended the Army-Navy football game alongside Trump and Vice President-elect JD Vance.

Kevin Dietsch/Getty Images

  • Vice President JD Vance said Elon Musk will remain a key voice for the White House.
  • "He's going to continue to be an advisor," Vance said, adding, "work of DOGE is not even close to done."
  • The White House said Musk would leave the administration "when his work is complete."

Vice President JD Vance on Thursday said that Elon Musk will always have a place in President Donald Trump's orbit.

"Of course, he's going to continue to be an advisor," Vance told "Fox and Friends" Thursday morning of Musk's status. "And by the way, the work of DOGE is not even close to done. The work of Elon is not even close to done."

Speculation has swirled over Musk's future, given his central role in Republicans' failure to elect a conservative judge to the Wisconsin Supreme Court.

Musk and his super PAC spent at least $20 million on the race, which the billionaire said was central to the survival of "Western civilization."

Some Republican lawmakers have also chafed at the White House DOGE office's sweeping firings amid pushback from their constituents. Musk is considered to be the DOGE office's de facto leader.

Vance's comments underline how central Musk has become to Trump's orbit. The world's richest man spent over $291 million on Republican candidates ahead of the 2024 election, mostly focused on helping Trump reclaim the White House. Musk also owns X, which has positioned itself as the leading social media platform for conservatives. Musk also reportedly pushed Trump to pick Vance, who has a background in venture capital, as his running mate.

"Fundamentally, Elon is going to remain a friend and an advisor of both me and the president, and he has done a lot of good things," Vance said.

Musk, Vance said, signed up for a roughly six-month commitment. It's unclear what the vice president meant, given that Musk faces a 130-day deadline as a special government employee. The 130-day period would end in either late May or early June, though there's little teeth to the actual deadline beyond the possibility of a lawsuit.

On Wednesday, White House press secretary Karoline Leavitt downplayed a Politico report that said Trump had told members of his inner circle that Musk would leave the administration soon. Musk also called the report "fake news."

"Elon Musk and President Trump have both publicly stated that Elon will depart from public service as a special government employee when his incredible work at DOGE is complete," Leavitt wrote on X.

Trump's executive order setting up the DOGE office envisioned it ending by the 250th anniversary of US independence, July 4, 2026. In the past, the White House has also been murky about the 130-day timeline.

Telsa shares went up after the Politico report, illustrating hopes that Musk will return his focus to the automaker, which has borne the brunt of the backlash to the billionaire's time in the Trump administration.

Read the original article on Business Insider

Buying a Rolex is about to get more expensive

Rolex display
Rolex prices are at risk of going up again.

Jordan Hart/BI

  • Swiss watches may increase prices due to a new 31% tariff by the US, analysts say.
  • Rolex, a leading Swiss brand, faces challenges in offsetting these increased costs.
  • The tariffs, imposed by Donald Trump, affect Swiss and European Union watch imports.

If you're thinking of buying a Rolex watch, you might want to act now to avoid potential price increases.

The biggest names in luxury watches mostly hail from Switzerland β€” a country that just got hit with Donald Trump's new tariffs. The reciprocal tariff rate is 31% for Switzerland and 20% for the European Union.

Rolex, a privately held company, produces its watches in Switzerland and ships them out to customers across the globe. It's one of the most sought-after luxury watch brands, with pieces that start at over $5,000 and which can reach over $50,000 depending on the material and exclusivity of the timepiece.

JPMorgan analysts said they see potentially the "most pressure on the Swiss watchmakers," including the owners of Cartier, a Rolex rival in the watch space.

With a 31% tariff rate, Rolex, along with its Swiss competitors, will be faced with few options to offset the cost of selling their products to the US. Like many retailers finding out about the official Trump tariffs, it'll have to adapt swiftly.

The levy, if fully passed on to customers, could mean that a $10,000 brand-new Rolex in the US could cost an extra $3,100 if tariffs are upheld. With additional sales tax β€” about 8% in many states β€” the final price could reach over $14,000, Paul Altieri, CEO of Bob's Watches, said.

Representatives for Rolex didn't immediately respond to a message left by Business Insider requesting a comment.

If Rolex raises its prices in June, it'll be the second time the watches have gone up in 2025. As the price of gold surged, certain Rolex models made of gold increased in price by as much as 8% on January 1.

Read the original article on Business Insider

I got my last Temu order in before tariffs. I feel disgusting.

Temu logo on a pedestal.

Getty Images; Jenny Chang-Rodriguez/BI

  • In anticipation of tariffs, I made a hasty last-minute panic buy at Temu.
  • Donald Trump has said he'll close the loophole that lets Temu and Shein ship directly to customers without duties.
  • Will American consumers like me be able to break their addiction to cheap foreign goods? Who knows!

Last night, as "Liberation Day" was taking effect and the tariffs on imports were being revealed, I did what any American might do in a crisis: I panic-shopped.

I hit up what I thought might be most likely to go extinct: the sweet, sweet low prices on fast fashion and junky plastic that comes straight from China. So, as I read over tweets that were speculating that the tariff rates were determined by ChatGPT, I went onto Temu and frantically placed an order. One last hurrah.

As I placed an order for several bubble wands and machines (I have a child's birthday coming up, so this was a somewhat intentional shop, admittedly), I couldn't help but wonder: Wow, is this it?

Will this be the end of a $2.74 mousepad that leaks goo all over me (which happened with an actual mousepad I bought from Temu)?

Is this the end of kids making fun of their parents for becoming "Temu victims?"

Is this the end of Temu being used as a new slang insult?

Right now, I'm not sure.

I checked the prices of the items I bought late Wednesday again on Thursday morning, post-tariff announcement. (It's not clear when exactly each tariff will start to take effect.) So far, no change in prices. The Temu website had no pop-ups or banners or warnings that prices might change due to the new tariffs.

Temu is in a bit of a unique position compared to other consumer goods you might buy that were made in China. Temu and fast-fashion retailer Shein's whole business is shipping your order directly from China, using the de minimus exemption β€” an old law that allows items under $800 to be shipped to the US duty-free.

Basically, if Walmart imports T-shirts made in China, it has to pay tariffs, which will likely be passed onto me in the price tag when I buy one at the store. But if I order a single T-shirt from Shein, it ships directly to me with no duty taxes at all β€” which is one of the ways Temu and Shein were able to keep prices so low.

So, you might think that Temu would be uniquely spared from the tariffs. But Trump just signed an executive order that would close that de miminis loophole, and add on either a 30% duty or a flat $25 fee (which would go up to $50 by June 1).

The White House's official announcement of the order, which is set to go into effect May 2, says that this is to stop the flow of illegal synthetic opioids like fentanyl that are shipping into the US from China through the mail. I don't know all that much about the illegal drug trade, but I always assumed the margins are fairly healthy; it may be an industry able to absorb a tariff.

Hopefully, my Temu order will arrive before May, and I'll have been able to sneak under the wire with my last reckless sprint of consumerist impulse. Am I proud of this? Absolutely not. Trust me, I feel as bad as I should.

(The announcement from the White House was rough for Temu's parent company, PPD Holdings, and others, like Alibaba, whose stocks plummeted on Thursday.

I have no idea what will happen with Temu and Shein or other retailers that have transformed their industries in the last few years by offering unbeatable prices. Will consumers finally kick their habit of hyperconsumption? Will it put these companies out of business if shoppers have to pay big duty fees? No clue!

Right now, we're in a weird moment where it's not totally clear what's going to happen (although it seems … probably "bad.") I only tell you how I feel:

Read the original article on Business Insider

There's no TikTok deal (yet). But don't expect a TikTok ban on Saturday.

Trump pushing a TikTok ban down a timeline

Brendan Smialowski / AFP via Getty; Rebecca Zisser/BI

  • TikTok is looking at a possible ban in the US. Again.
  • But remember what happened the last time: Donald Trump simply ignored a law that said the app would be banned if it didn't have US owners.
  • Sometimes, history really does repeat.

TikTok could be banned in the US in the next few days. Or it could stay.

Perhaps it will have new owners. Maybe it won't.

Yes, you've heard all of this before: In January, the enormously popular video app was slated to go dark in the US β€” and in fact, did go offline for a few hours β€” because of a law forcing the Chinese-owned company to shut down or find new owners for its US operations.

Then Donald Trump signed an executive order pushing back the date of the ban until April 5 β€” that's Saturday. So here we are.

In the newest version of the story, the most likely outcome is a deal where a coalition of US investors, including Andreessen Horowitz, Blackstone, and Silver Lake, buys a 50% stake in TikTok's US operations; in that proposal, some of the existing investors in ByteDance, TikTok's current owner, keep a stake as well. We've also heard about a flurry of last-minute bids from Amazon and other players. Vice President JD Vance says there will be some kind of deal announced before the deadline.

A TikTok sale needs one big sign-off

The problem with any of these would-be solutions: It's entirely unclear whether ByteDance would agree to divest its US operations, and/or whether the Chinese government would allow it. Without those sign-offs, it doesn't matter what kind of deal structure Trump and US investors would like.

Trump has previously said he might convince Chinese officials to OK a deal by reducing tariffs on China. But as of Thursday, we have no idea if those negotiations are happening; Dan Primack, the well-sourced Axios finance reporter, says his sources say "they've still not heard of direct discussions between the US and Chinese governments on a particular proposal." I've asked TikTok and the White House for comment.

So it's entirely possible that on Saturday, there still won't be an actual deal β€” as opposed to a proposal β€” in place to transfer majority ownership of TikTok's US operations to non-Chinese owners, which was the thrust of the law passed by Congress, signed by Joe Biden, and upheld by the Supreme Court.

And If that's the case, what happens on Saturday?

My hunch: Nothing.

Or, to be more specific: Trump announces that the proposal he's announced is a deal, regardless of the facts. And TikTok keeps operating as normal, and the can keeps getting kicked down the road.

After all, we've already seen Trump ignore a TikTok deadline in the past.

In January, even before he was president, Trump was telling various technology companies to ignore the TikTok law that went into effect on January 19. And his executive order specifically instructs the US attorney general not to enforce the law "even after the expiration" of the 75-day extension Trump granted himself.

And just to keep repeating this: While the existing TikTok law does allow the president to grant a one-time, 90-day extension before TikTok is banned, that's only supposed to happen if there is an actual plan to divest, and there is "evidence of significant progress" toward making that happen, and there are "relevant binding agreements" in place.

But obviously none of that was happening on January 20, when Trump signed his executive order pushing the ban back. And it doesn't seem to be happening yet this time around.

We're in Trump's world now

In a normal, pre-Trump world, you'd expect someone β€” perhaps a TikTok rival like Meta, perhaps a member of Congress who signed the TikTok sell-or-ban bill last year β€” to raise serious objections to the fact that the Trump administration appears to be ignoring a law. Perhaps someone might have even challenged the White House in court.

But in the world we live in today, it looks like TikTok will be in the US for some time to come. No matter who owns it.

Read the original article on Business Insider
❌