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Last Updated : Aug 09, 2020 11:30 AM IST | Source: Moneycontrol.com

Microsoft's TikTok deal a poisoned chalice, says billionaire co-founder Bill Gates

Bill Gates also believes that Microsoft entering the social media game could be a good thing as it would make the industry more competitive.

Microsoft co-founder Bill Gates described the company’s potential deal with TikTok as a poisoned chalice.

In an interview, Gates told Wired that the acquisition of TikTok’s US business would not be easy for Microsoft. “Who knows what’s going to happen with that deal. But yes, it’s a poison chalice,” the 64-year-old philanthropist said.

When asked if Gates was wary of Microsoft acquiring TikTok and entering the social media game, he thinks that Microsoft acquiring TikTok could make the industry more competitive, which is a good thing, but that “having Trump kill off the only competitor, it’s pretty bizarre”.

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Gates also seemed confused on the US Treasury demanding a cut from the deal. “I agree that the principle this is proceeding on is singly strange. The cut thing, that’s doubly strange. Anyway, Microsoft will have to deal with all of that,” he said.

The comments come days after Microsoft confirmed to be in talks with TikTok for the social media app’s US business. US President Trump then gave the company 45 days to acquire the deal before signing an executive order that would ban TikTok from doing any business in the US.

TikTok, in its defence, accused the US of not following a 'due process' before issuing an executive order to ban the app. 

Microsoft is eyeing to buy TikTok’s operations in several countries outside the US, including, India, Canada, Australia, New Zealand, etc.
First Published on Aug 9, 2020 11:30 am
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