Kevin O’Leary believes TikTok won’t fetch a $100 billion sale price if its algorithm isn’t included
The Tug-of-War Over TikTok’s Future
In the high-stakes world of international tech and trade, the fate of the wildly popular app TikTok is causing waves of speculation and intrigue. Kevin O’Leary, the billionaire investor and charismatic “Shark Tank” co-host, recently delved into the drama, pointing out the substantial challenges any potential TikTok buyer would face.
Roadblocks on the Horizon
Looming large over TikTok’s future is a decisive move by the US government. Last week, with a resounding vote of 352-65, the House of Representatives passed the Protecting Americans from Foreign Adversary Controlled Applications Act. This significant legislation demands that TikTok sever ties with its Chinese parent company ByteDance or face a potential ban in the States. Given this context, O’Leary, who has lauded TikTok as ”one of the largest networks in the world,” underscored the improbability of a sale that includes its prized algorithm.
“So when people talk about this being a $100 billion transaction, no chance,” O’Leary said on Fox News’s The Story with Martha MacCallum. “If they’re not selling the algorithm, I have to rebuild it from scratch.”
Seeking American Ownership
With the House’s vote casting a shadow, O’Leary expressed his own interest in acquiring TikTok, envisioning a transformation into a fully “American company.” His forecast for the sale price without the algorithm? A cool $40 billion. Yet, he stresses, no moves will be made until the Senate has its say on the matter.
Last week, the whirlwind around TikTok’s American journey picked up momentum when Steven Mnuchin, former Treasury Secretary, expressed his intention to gather investors for a TikTok takeover, touting it as “a great business.” Moreover, echoing this sentiment is Chris Pavlovski, CEO of Rumble, a rising competitor to YouTube known for its free speech stance. Pavlovski is prepared to throw his hat into the ring, joining forces with a consortium to bring TikTok under American leadership, should it divorce from ByteDance.
What Lies Ahead for TikTok?
The narrative of TikTok’s potential sale is enthralling, with a blend of business, politics, and international intrigue. As lawmakers, investors, and tech moguls circle around the future of this digital titan, the world watches in anticipation. Who will guide TikTok’s next chapter? Will it be the sharp business minds like O’Leary and Mnuchin or new players ready to rise to the occasion?
Beyond the headlines and the House floor debates, TikTok’s saga is a testament to the power and value of technology in our interconnected world. But as this story unfolds, remember: it’s not just algorithms and assets— it’s about the culture and connections that define our shared digital experience.
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