TikTok and WeChat expose how US tech giants lack innovation in social media

Despite spending roughly $700 million a year in research and development, the microblogging company's main offering has stayed virtually the same over the past decade

The jockeying by Microsoft Corp and possibly other US companies to buy TikTok’s US operations shines a harsh light on how domestic technology giants are falling behind on innovation in social media and other areas of opportunity.

Both ByteDance Ltd.’s TikTok and Tencent Holdings Ltd.’s WeChat are living on borrowed time in the US after President Donald Trump signed executive orders last week effectively banning the apps after 45 days. The renewed focus brings to the forefront how badly American social media apps have lagged their Asian counterparts. Consider Twitter Inc., for example. Despite spending roughly $700 million a year