Oracle’s TikTok deal accomplishes nothing

Larry Ellison Delivers Keynote At Annual Oracle OpenWorld Conference

Photo by Justin Sullivan / Getty Images

On Sunday night — just two days before the deadline set by Microsoft — the TikTok deal finally came through. Oracle will be taking over stewardship of TikTok’s US operations, after Chinese parent company ByteDance turned down a more ambitious bid from Microsoft. This morning, Treasury Secretary Steven Mnuchin confirmed the deal and said it would be presented to President Trump with a recommendation later this week. But barring a complete catastrophe, TikTok will keep operating in the US. However weird the details are, TikTok’s 1,400 US employees and tens of millions of US users are breathing a sigh of relief this morning.

But the last-minute sale is strange in a number of ways — for a start, it’s not a sale at all. After months of…

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