Kevin O'Leary Warns That Shutting Down TikTok Would Hurt '6 Million Small Businesses In America' That Rely On It To Make A Living

Kevin O'Leary, the investor famously known from Shark Tank, has once again stepped into the heated debate about TikTok's future in the United States. Alongside billionaire entrepreneur Frank McCourt, O'Leary is pushing a bold plan to save the platform from a potential nationwide ban, which he says would be devastating for small businesses nationwide.

Why TikTok Matters to Small Businesses

TikTok is a key tool for the success of many small businesses in America. Kevin O'Leary says six million businesses use the app to sell products, find customers and make money. If TikTok is shut down, it would cause big problems for these businesses.

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"I don’t want it shut down. It’s not good for my businesses, it’s not good for six million other small businesses in America that make a living off it," O'Leary said in a recent interview. "We just need to take out the onerous piece – the spyware – that’s what Congress is upset about."

The Spyware Problem

TikTok’s controversy stems from its parent company, ByteDance, a Chinese tech giant. U.S. lawmakers from both parties have raised concerns about the app's data security and potential ties to the Chinese government. The fear is that TikTok's algorithm could serve as a tool for surveillance or propaganda.

O'Leary and McCourt's solution? Buy TikTok's U.S. operations outright. Their proposal involves acquiring the app without its famous algorithm – the technology that powers TikTok's addictive "For You" feed. "We don’t want to buy the algorithm, we can’t use it. That’s spyware," O'Leary explained. "We’re going to rebuild the product and make it much better."

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A Race Against Time

The urgency behind O'Leary's bid is tied to a looming deadline. A law passed earlier this year could result in TikTok being banned in the United States starting Jan. 19, 2025, unless the app is sold. The Supreme Court is deciding whether this law will go into effect and O'Leary and McCourt are pushing to get their offer accepted before it's too late.

Critics have questioned whether TikTok can remain popular without its algorithm, which is central to its success. The algorithm is the magic behind the content recommendations that keep users hooked. But O'Leary insists that the platform's success doesn't hinge on the existing technology.

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O'Leary and McCourt's group, called The People's Bid for TikTok, has support from investors and tech experts, including Tim Berners-Lee, the inventor of the World Wide Web. They've also talked to lawmakers and plan to work with President-elect Donald Trump to close the deal.

McCourt emphasized the importance of keeping TikTok running for its millions of users. "By keeping the platform alive without relying on the current TikTok algorithm and avoiding a ban, millions of Americans can continue to enjoy the platform," he said. "We look forward to working with ByteDance, President-elect Trump and the incoming administration to get this deal done."

Even though ByteDance has repeatedly stated that TikTok is not for sale, O’Leary and McCourt are committed to finding a solution.

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