Project Liberty has expressed interest in acquiring TikTok, albeit without its core algorithm. Led by billionaire Frank McCourt, the initiative aims to purchase the popular social media platform and transfer it onto the Decentralized Social Networking Protocol (DSNP). The Supreme Court recently upheld a law requiring TikTok's parent company, ByteDance, to divest its ownership or face an effective ban. Consequently, TikTok was temporarily shut down for American users and removed from major app stores after the deadline passed.
Frank McCourt clarified that Project Liberty is "not interested in the algorithm or the Chinese technology" inherent to TikTok. Despite acknowledging that the platform is "worth less" without its algorithm, McCourt remains focused on his goal of hosting TikTok on DSNP. This technology empowers users by allowing them to control their data and choose how it is accessed.
President Donald Trump has stated his desire for the U.S. to maintain a "50% ownership position in a joint venture" with TikTok. McCourt indicated that his consortium would be open to sharing ownership of TikTok, provided the platform is hosted on technology developed by his nonprofit. He commented, "I'm okay with whatever is legal … and the U.S. government is OK with," reinforcing his openness to various commercial agreements.
McCourt's ambition aligns with the current needs of the U.S. government, which is contemplating several options for TikTok's ownership and operation within the country. The executive order signed by President Trump delayed a federal ban on the app, granting TikTok an additional 75 days to continue its operations while negotiations unfold.
The DSNP presents a unique opportunity for app developers, allowing third parties to build applications while affording users control over their data. On this note, McCourt has emphasized, "The user experience would be very similar, with the one big exception — owning your identity and your data and your relationships would be quite different than how TikTok currently operates."
In addition to Project Liberty's bid, other notable parties have shown interest in acquiring TikTok. YouTube star MrBeast, along with a group of investors, is preparing a bid. Meanwhile, rumors suggest that the Chinese government has considered a plan involving Elon Musk acquiring TikTok's operations, a proposal dubbed the "People's Bid For TikTok."
Amidst these developments, McCourt remains flexible about potential commercial arrangements. He stated, "We're totally flexible about commercial arrangements, as long as they abide by the law." He also acknowledged that any future decision regarding TikTok's ownership rests in the hands of President Trump's administration: "I'm not going to be the decision maker there. You know, this is President Trump's deal now it's in his… administration, and you know, it will all get sorted out."
Experts believe that TikTok's success largely hinges on its algorithm, which captivates users through personalized content recommendations. Nevertheless, McCourt envisions a future where TikTok thrives under a different technological framework. He noted that if Project Liberty or any other entity acquires U.S. TikTok and fails to deliver an optimal user experience, "the underlying technology will allow that whole user base to go to a different app that's doing a better job."