Bytedance loses $1 billion overnight as many Indians too lose work after government bans TikTok and 59 Chinese apps

TikTok
TikTok causes multiple job losses with the current ban imposed by the Indian government

India banned TikTok and 58 other Chinese applications yesterday as the Indian government announced so in the official notification. However, the concern for the ban is not at all transparent. Even though these apps have been banned due to security reasons, no one has a clear idea as to what security reasons.

The government order didn’t name China, or cite the border clashes. App analytics firm Sensor Tower said all the 59 apps named were of Chinese origin, including Tencent’s WeChat and Alibaba’s UC Browser.

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TikTok ban led to a loss on both sides

It is nothing but a digital airstrike on the Chinese counterpart. And just like any other war, the harm is done on both sides. Bytedance, the company behind the popular social media sharing app TikTok lost around $1 billion overnight. However, many Indians are affected too.

If this is not rolled back, these companies would be constrained to cut back their operations in India, potentially resulting in a loss of employment. In a statement TikTok says that the Indian government had invited the company to respond to the ban and submit clarifications, adding that it complies with all data security and privacy requirements.

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Following the ban order, many TikTok users posted videos expressing their displeasure with the ban. When TikTok was banned briefly last year after a state court said the app encouraged pornography, the company told the Supreme Court the ban cost it roughly $15 million a month.

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