The TikTok Ban Will Impact Negatively Small Businesses And The Creator-Friendly Economy
Social media has paved the way for innovation. It is a runaway success with the creator economy and social commerce space. As it turns out TikTok has opened the doors for small businesses to flourish, and at the same time got caught in the crosshairs of legislators in the United States (U.S). Why? Joe Biden signed effectively a TikTok ban on April 24th, 2024 forcing the parent company (ByteDance) to divest the app or face a complete ban a year from now.
The pretext for the ban of TikTok was due to “national security” concerns, and that “data from users” was or is funneled to the Chinese government. TikTok became more than just a place for Gen Z to meet, or to discover the latest dance trends by Charlie D’Amelio. TikTok spawned a diverse ecosystem of niche communities. Consequently, it also paved the way for the creator economy, which effectively challenged existing social platforms like Facebook, Google, Snapchat, etc.
When it comes to this new law, I interviewed Eric Dahan, founder of Mighty Joy, about the…
