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It Appears Users Are Getting Bored With TikTok
(www.techdirt.com)
This is a most excellent place for technology news and articles.
The bill isn't nearly as bad as they want you to think. It bans companies in Russia, China, North Korea, and Iran from operating social media apps in US markets, forcing them to sell if they already do. These four countries are already restricted from accessing sensitive parts of the US economy, with forced sale being a legal option. Really, the only novel part of the bill is applying these kinds of restrictions to software.
And the bill doesn't actually punish or restrain users' speech. It does restrain the social media company's speech, but that may not be enough to overturn the bill on 1st amendment grounds. If you understand that social media exists to collect vast amounts of user data then you must also understand how the government has a legitimate interest in keeping that data out of an adversary's hands. The only real question is whether the government has a compelling interest, because that's the standard that a court would apply to this bill. And I daresay it might.
Musk's companies are already based in the US. The issues you raise, however valid, are not really relevant to a discussion of this bill.