When the Trump administration tried to ban TikTok in 2020, investors in its parent, ByteDance, mobilized to support the app. Now, as a bill to force a ban or sale of TikTok winds its way through Congress, the company is mostly on its own.
With the possible exception of Susquehanna International Group principal Jeff Yass, a Republican donor and big ByteDance shareholder, ByteDance’s U.S. investors are mostly sitting on the sidelines quietly. They don’t see any reason to speak out on such a polarizing issue, and some are afraid they’ll be perceived as disloyal to the U.S. if they come out in support of TikTok, say investors and a political consultant in Washington who has dealt with venture capital firms.