00:00So it's official. TikTok is done in the U.S.
00:05The app you scroll for hours on, well, it's about to disappear completely here.
00:09Here's what happened, why and what's next.
00:11This Friday, the U.S. Supreme Court upheld a federal law requiring ByteDance,
00:16TikTok's Chinese parent company, to sell its U.S. operations by January 19th or face a full ban.
00:22This decision comes after years of national security concerns over user data and potential foreign influence.
00:28So what happens now by Sunday?
00:30Well, if ByteDance fails to sell TikTok's U.S. operations by that deadline,
00:34app stores will remove TikTok completely.
00:37Current users may still be able to use the app briefly, but without updates, it'll quickly lose functionality.
00:42This means millions of creators, businesses and fans will have to pivot fast.
00:47Some people online have been wondering about President-elect Donald Trump's opinion.
00:51Well, Trump has hinted at addressing the situation after his inauguration on January 20th.
00:56However, with bipartisan support for the law, even Trump may face challenges in reversing the decision.
01:01You also might be wondering how big of an effect this will actually have.
01:04Well, 170 million Americans use TikTok every month.
01:08And the platform has been a lifeline for small businesses, creators and brands.
01:12In 2023 alone, TikTok contributed $24.2 billion to the U.S. economy and supported over 224,000 jobs.
01:19A ban means these businesses will need to shift to platforms like Instagram, Redbook, YouTube or Amazon Live to stay afloat.
01:26As you can see, we do use TikTok, but where can you follow Benzinga after the ban?
01:30Well, while TikTok might be gone, Benzinga is everywhere.
01:34On Instagram, X, Facebook and YouTube, all under at Benzinga.
01:37Since the end of the app is here, make sure to follow Benzinga on all the other platforms mentioned on what happens next.
01:44Because this story might be far from over.
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