6 ms·

For context, SNAP is valued at $14Bn. This is a straight up giveaway to friends. Even dictators in other countries don't make it so obvious because they're wo

For context, SNAP is valued at $14Bn. This is a straight up giveaway to friends. Even dictators in other countries don't make it so obvious because they're worried their populations would revolt, which says a lot about the American voter today.

giarc 1y ago
It's all a grift. The cynic in me says that if you looked close enough, you'd find some large deposits into Trump coin or World Liberty Finacial shortly before this announcement.
mandeepj 1y ago
> This is a straight up giveaway to friends. None of Tiktok's executives were present, and China has not confirmed the sale. So, I don't think clown's EO means anything. He's living in his own la la land :-)
- throwawaymaths 1y ago
  wait why does china have to confirm the sale? i thought tiktok was singaporean!
  - sjsdaiuasgdia 1y ago
    The CEO of TikTok is from Singapore. Bytedance is a Chinese company.
  - c0balt 1y ago
    Shou Zi Chew, the CEO of TikTok since 2021, is Singaporean. TikTok, the company, is owned by ByteDance.
  - mandeepj 1y ago
    > i thought tiktok was singaporean! Tiktok's CEO is a singaporean! Maybe you are mixing it with that. Tiktoks' parent company ByteDance is headquartered in China. https://en.wikipedia.org/wiki/ByteDance https://en.wikipedia.org/wiki/ByteDance
- deleted 1y ago
  [deleted]
maxglute 1y ago
IIRC previous talk for TikTok US valuations / buyout was ~40B. But Tiktok was at ~20% Bytedance / PRC ownership before and after. US ownership to boost from 60-80%. So not really sure who this is boning more.
talbo888 1y ago
Before people jump to conclusions, if you look at the details there seems to be a plan for a major profit sharing and licensing agreement with Bytedance. The numbers floated around are that 50% of the profit would go to Bytedance plus. This would significantly impact its valuation to outside investors.
- didntknowyou 1y ago
  it was always more about control than making profit tbh

giarc 1y ago

It's all a grift. The cynic in me says that if you looked close enough, you'd find some large deposits into Trump coin or World Liberty Finacial shortly before this announcement.

mandeepj 1y ago

> This is a straight up giveaway to friends. None of Tiktok's executives were present, and China has not confirmed the sale. So, I don't think clown's EO means anything. He's living in his own la la land :-)

throwawaymaths 1y ago
wait why does china have to confirm the sale? i thought tiktok was singaporean!
- sjsdaiuasgdia 1y ago
  The CEO of TikTok is from Singapore. Bytedance is a Chinese company.
- c0balt 1y ago
  Shou Zi Chew, the CEO of TikTok since 2021, is Singaporean. TikTok, the company, is owned by ByteDance.
- mandeepj 1y ago
  > i thought tiktok was singaporean! Tiktok's CEO is a singaporean! Maybe you are mixing it with that. Tiktoks' parent company ByteDance is headquartered in China. https://en.wikipedia.org/wiki/ByteDance https://en.wikipedia.org/wiki/ByteDance
deleted 1y ago
[deleted]

maxglute 1y ago

IIRC previous talk for TikTok US valuations / buyout was ~40B. But Tiktok was at ~20% Bytedance / PRC ownership before and after. US ownership to boost from 60-80%. So not really sure who this is boning more.

talbo888 1y ago

Before people jump to conclusions, if you look at the details there seems to be a plan for a major profit sharing and licensing agreement with Bytedance. The numbers floated around are that 50% of the profit would go to Bytedance plus. This would significantly impact its valuation to outside investors.

didntknowyou 1y ago
it was always more about control than making profit tbh