3 ms·

Another opportunistic nothing burger victory and reason for further tech billionaire fealty. Sigh.

• ein0p 2y ago
  Do you mean the ban, or the removal of the ban? I'm confused. Because I'm pretty sure the ban is at least in part supported by Zuck, and that's why he gave $300M+ to elect a vegetable in 2020, and that's why Meta is spending more than ever on lobbying: https://readsludge.com/2024/04/23/meta-shatters-lobbying-record-as-house-passes-tiktok-ban/ https://readsludge.com/2024/04/23/meta-shatters-lobbying-rec...
  • Finnucane 2y ago
    Dr. T's reversal was at least partly due to the influence of David Yass, who owns a chunk of ByteDance and saved the TruthSocial IPO, making Trump's holding actually worth something. So he owes Yass bigly. Presumably other wealthy friends stand to win. Steve Mnuchin wanted to buy it.
    • etblg 2y ago
      Jeff Yass?
      • Finnucane 2y ago
        Do you think I'd look it up instead of going by my aging mushy memory?
    • ein0p 2y ago
      Word is Musk is offering to buy a controlling stake as well. The whole thing is a racket though: ByteDance is already 60% owned by global institutional investors, including firms such as Blackrock, Susquehanna International Group, Carlyle Group, and General Atlantic. Another 20% are owned by employees, and another 20% by co-founders. Given this, I'm not sure how ByteDance could "sell TikTok" to an US investor - they don't own 50% of it themselves.