WEBVTT - This Billionaire is Buying TikTok! Really? 0:00:03.720 --> 0:00:04.640 Now really. 0:00:06.680 --> 0:00:11.240 Really now, really well and welcome to really know really, 0:00:11.280 --> 0:00:13.680 but Jason Alexander and Peter Tilden, who remind you that 0:00:13.720 --> 0:00:16.759 we're still patiently waiting for you to subscribe to our show. 0:00:16.880 --> 0:00:20.479 So TikTok, And speaking of TikTok, it has been in 0:00:20.520 --> 0:00:24.280 the news in a big way lately, delisted banned under Biden, 0:00:24.360 --> 0:00:27.520 then relisted under Trump. But for how long will the 0:00:27.520 --> 0:00:31.800 band stick? Will the Chinese government continue to allegedly manipulate 0:00:31.840 --> 0:00:35.559 Americans with disinformation? Or will it divest and sell to 0:00:35.600 --> 0:00:38.479 a third party. One man who may well know the 0:00:38.520 --> 0:00:42.040 answers to all these questions is billionaire Frank McCourt, who 0:00:42.120 --> 0:00:45.240 is attempting to buy TikTok and transform not only the app, 0:00:45.400 --> 0:00:49.560 but the Internet itself. Really no, really, He is working 0:00:49.560 --> 0:00:53.240 with a cabal of investors, including mister Beast, Shark Tanks, 0:00:53.320 --> 0:00:56.560 Kevin O'Leary, and perhaps even our own Howie Mandel, to 0:00:56.720 --> 0:00:59.800 buy TikTok and transform it into a virtual Internet to 0:01:00.080 --> 0:01:04.120 point oh that gives individuals you ownership of your data. 0:01:04.640 --> 0:01:09.160 Revolutionary idea publicity stunt, or a better, safer. 0:01:08.840 --> 0:01:09.920 Internet of the future. 0:01:10.240 --> 0:01:13.040 Jason Alexander couldn't make it for this episode to find out, 0:01:13.240 --> 0:01:15.520 so he reached out to another Baldyat to fill in 0:01:15.840 --> 0:01:18.320 in fact, an even balder guy and a big friend 0:01:18.319 --> 0:01:21.200 of the show, mister Howie Mandel. So here are two 0:01:21.240 --> 0:01:24.200 guys who are our own personal dealer, no deal, Peter 0:01:24.400 --> 0:01:25.720 and Hollie. 0:01:28.480 --> 0:01:31.240 What is that I shouldn't put this on here because 0:01:31.280 --> 0:01:35.760 it's a It's okay, it's branded, but you can always 0:01:35.840 --> 0:01:42.119 use a brand. Really no, really, So I just want 0:01:42.120 --> 0:01:44.880 to welcome ever body to really know, really, and with 0:01:44.920 --> 0:01:48.280 Peter Tilden and Jason Alexander, Jason not here today really 0:01:48.560 --> 0:01:51.400 really no really, So we said, is there anyone bald 0:01:52.160 --> 0:01:55.040 they can fill in for? Jason? And Howie Mendel was 0:01:55.080 --> 0:01:57.360 sitting in here, which is weird. You sitting here between 0:01:57.440 --> 0:01:59.640 shooting your pocket could go daze and you're just in here. 0:01:59.720 --> 0:02:02.080 I just haven't left, and I would say anyhow to 0:02:02.120 --> 0:02:04.200 I watch you and Jason, and I know what you're 0:02:04.240 --> 0:02:06.880 gonna say. I love your show. I watch your show, 0:02:07.040 --> 0:02:10.840 and you're gonna say, really, no, really, I'm serious, and 0:02:10.880 --> 0:02:12.720 that I do you you really? 0:02:12.880 --> 0:02:17.120 You know I love it. The emphasis to show that 0:02:17.120 --> 0:02:19.960 you're not lying is the finger you went. I do 0:02:20.520 --> 0:02:22.680 I'm a parent. I do. I'm a parent. I have 0:02:22.720 --> 0:02:24.000 to do that for your kids. You have to say 0:02:24.000 --> 0:02:25.960 sit down and I mean it. Yeah, I mean it. 0:02:26.040 --> 0:02:28.600 I mean it. In today's episode is TikTok is in 0:02:28.639 --> 0:02:30.480 the news. And I don't know if you know this, 0:02:30.639 --> 0:02:34.560 but the statistics are that one hundred and seventy million 0:02:34.600 --> 0:02:37.919 Americans use it. One third of those are under fourteen. 0:02:38.040 --> 0:02:40.960 And we have Frank McCourt on, who was we know 0:02:41.000 --> 0:02:43.360 him here as the owner of the Dodgers. But Frank 0:02:43.480 --> 0:02:47.200 is trying to buy TikTok with the guy from Shark Tank, 0:02:47.280 --> 0:02:50.359 Kevin O'Leary and mister Bees, which is to me, who 0:02:50.360 --> 0:02:52.600 you know and Jim to me, he's Jimmy. 0:02:53.080 --> 0:02:57.079 I think there are worldwide billions of people that are 0:02:57.280 --> 0:03:01.040 uploading TikTok on really, no, really, we are going to 0:03:01.160 --> 0:03:04.160 have some inside information right now. We are going to 0:03:04.200 --> 0:03:09.799 get that nobody will the person that might be instrumental 0:03:10.000 --> 0:03:14.480 inktok and be instrumental in how it works, how it 0:03:14.520 --> 0:03:17.560 continues to work, what if there's any changes, if there's 0:03:17.600 --> 0:03:21.240 anything is coming up, and whether you are a fifteen 0:03:21.320 --> 0:03:23.079 year old girl that is coming up with a new 0:03:23.160 --> 0:03:27.680 dance or somebody who is really concerned about the future 0:03:28.200 --> 0:03:32.160 of our safety because information may be leaked to a 0:03:32.320 --> 0:03:36.120 perceived enemy. This is the guy that has the answer. 0:03:36.280 --> 0:03:38.360 So nobody's going to turn away right now. 0:03:38.440 --> 0:03:41.160 You know that. They say the whole generation is getting 0:03:41.200 --> 0:03:42.680 all their information from TikTok. 0:03:43.000 --> 0:03:49.200 If you can control a software, any kind of software, 0:03:49.440 --> 0:03:52.720 and TikTok is probably one of the most prevalent softwares 0:03:52.840 --> 0:03:57.440 right now in our world, whether it's America on our plane, 0:03:59.360 --> 0:04:03.000 they can get into once you can control that, even 0:04:03.040 --> 0:04:07.120 if it's just Charlie Demilio who made millions dancing, they 0:04:07.160 --> 0:04:12.000 could get into through her bank account, into a bank 0:04:12.440 --> 0:04:15.760 in America, and then through once you're inside the bank, 0:04:15.840 --> 0:04:17.159 you can get more information. 0:04:17.279 --> 0:04:19.920 It's like a never ending But they also and I 0:04:19.920 --> 0:04:21.839 know you do this too. We've had this conversation in 0:04:21.880 --> 0:04:24.800 between waiting between shows. The album is going to feed 0:04:24.839 --> 0:04:27.720 you only what it wants to knows the more they 0:04:27.720 --> 0:04:30.560 can sell you. People live in people live in their 0:04:30.560 --> 0:04:31.279 own algorithms. 0:04:31.320 --> 0:04:34.280 Anyhow, I was having a discussion earlier today with somebody 0:04:34.320 --> 0:04:36.120 and I said, they said, what is your fear of 0:04:36.120 --> 0:04:40.000 the world? And I feel, whether you're on social media 0:04:40.200 --> 0:04:43.440 or not, most people and I say this as somebody 0:04:43.440 --> 0:04:46.440 who travels a lot from place to place. Tomorrow I'm 0:04:46.440 --> 0:04:50.680 going to be in Fargo. But what I find is, 0:04:50.720 --> 0:04:53.760 and you might know this, is that wherever you go, 0:04:53.920 --> 0:04:56.520 the average person doesn't go anywhere. 0:04:56.720 --> 0:04:57.440 I will land. 0:04:57.920 --> 0:04:59.520 A guy in his fifties will pick me up and 0:04:59.560 --> 0:05:02.080 tell me he's never been on a plane before. And 0:05:02.680 --> 0:05:06.440 our parents of our generation, everybody that came into the 0:05:06.440 --> 0:05:10.839 house looked the same, had the same socioeconomic kind of level. 0:05:11.200 --> 0:05:13.520 And so people don't that's your algorithm. 0:05:13.720 --> 0:05:14.120 Whatever. 0:05:14.240 --> 0:05:16.200 My mom used to call me from a condo and 0:05:16.240 --> 0:05:17.640 you go, you know what everybody likes. 0:05:17.720 --> 0:05:19.960 No, you don't know what everybody likes. That's your choice. 0:05:20.120 --> 0:05:22.240 Now you're getting fed information whether you like it or not. 0:05:22.600 --> 0:05:24.479 Let's go, you know we should do. Go to Frank. 0:05:24.760 --> 0:05:25.919 Let's go to Frank. Frank. 0:05:25.960 --> 0:05:26.880 How are you guys? 0:05:27.040 --> 0:05:28.760 I'm good, Frank. I don't know if you remember me. 0:05:28.800 --> 0:05:29.560 I was at KBC. 0:05:29.960 --> 0:05:30.760 I do remember you. 0:05:30.880 --> 0:05:31.359 How are you? 0:05:32.320 --> 0:05:32.799 I'm good? 0:05:32.880 --> 0:05:33.040 So? 0:05:33.080 --> 0:05:33.440 How are you? 0:05:33.520 --> 0:05:35.479 How are you doing? How you How have you guys 0:05:35.600 --> 0:05:37.400 been bearing up with the LA situation? 0:05:37.520 --> 0:05:40.800 There always okay, I'm living in one room with my 0:05:40.880 --> 0:05:43.599 family right now because I had to flee the Pala States. 0:05:43.640 --> 0:05:46.080 So it's been a tough time and it's a real 0:05:46.160 --> 0:05:46.720 tough time. 0:05:46.839 --> 0:05:50.640 And the fact that he is sitting here today broadcasting 0:05:50.760 --> 0:05:54.000 and here for you is our ultimate Really, no, really, 0:05:54.080 --> 0:05:56.200 this guy's been it was a little tough through it's 0:05:56.200 --> 0:05:56.720 still tough. 0:05:56.880 --> 0:05:59.360 Good thanks Frank, thank you for that, and sorry. 0:05:59.160 --> 0:05:59.719 You're going through it. 0:05:59.720 --> 0:06:02.240 I have two boys still living out in La So 0:06:02.680 --> 0:06:04.920 there's a whole group of people whose lives are upside 0:06:04.960 --> 0:06:07.720 down now and kids that are just everything that they 0:06:08.320 --> 0:06:10.400 you know, they thought everything was safe and great and. 0:06:10.520 --> 0:06:12.360 Now that's right. 0:06:12.440 --> 0:06:16.520 Well, very exactly. Thank God for TikTok But let's let's 0:06:16.520 --> 0:06:20.560 so let's do this. Welcome Frank, mister Frank McCourt, who 0:06:20.560 --> 0:06:23.120 I knew from the Dodgers when you were in La. So, 0:06:23.640 --> 0:06:26.640 Frank McCourt is trying to buy TikTok Son. Why don't 0:06:26.640 --> 0:06:29.520 you give us some context to how that, How are 0:06:29.520 --> 0:06:31.719 you doing that, who you're doing it with? And do 0:06:31.800 --> 0:06:33.560 they want to sell do they even want to sell? 0:06:34.680 --> 0:06:39.000 Well personal great to be with you guys and appreciate 0:06:39.040 --> 0:06:41.400 your interest in the subject. And and Peter, I'm really 0:06:41.440 --> 0:06:46.240 glad you started with La Connection because that was my 0:06:47.120 --> 0:06:50.719 early epiphany here. I mean you you you know what 0:06:51.480 --> 0:06:55.160 I went through out there during during my very public divorce, 0:06:55.240 --> 0:06:59.599 and it was you know, very uncomfortable, humiliating, you know, 0:06:59.760 --> 0:07:03.719 and to be battered around by social media. 0:07:03.760 --> 0:07:06.719 It's just it's not a good feeling. That was my 0:07:06.920 --> 0:07:07.560 first glimpse. 0:07:07.600 --> 0:07:09.200 And I'm not asking you to be sorry for me, 0:07:09.200 --> 0:07:11.720 because I'm doing great and everything worked out, you know, 0:07:11.920 --> 0:07:15.920 worked out for me, but it was I really saw 0:07:16.160 --> 0:07:18.280 that social media had become weaponized. 0:07:18.840 --> 0:07:22.040 It's it just favors my behavior. 0:07:22.160 --> 0:07:25.600 And I ended up selling the Dodgers for you know, 0:07:25.640 --> 0:07:28.520 a ton of dough and worked out great, and I 0:07:28.520 --> 0:07:32.480 thought I'd do something positive with what I had learned. 0:07:32.720 --> 0:07:35.520 So that's when I shifted gears and in twenty nineteen 0:07:35.640 --> 0:07:39.400 launched this project Project Liberty. Committed a half a billion 0:07:39.440 --> 0:07:42.960 dollars to it to actually go back to my roots, 0:07:43.000 --> 0:07:46.240 which are infrastructure roots. My family's been building infrastructure for 0:07:46.360 --> 0:07:49.480 five generations. When I started Project Liberty, I had no 0:07:49.560 --> 0:07:51.800 idea that there was going to be legislation banned TikTok, 0:07:52.400 --> 0:07:55.520 But when it happened, I thought it was just, you know, 0:07:55.560 --> 0:08:01.800 an incredible opportunity to buy us TikTok. Move the user base, 0:08:01.960 --> 0:08:04.640 the one hundred and seventy million Americans over to a 0:08:04.720 --> 0:08:10.320 new clean stack where they're not exploited, they're not survelled, 0:08:10.360 --> 0:08:15.120 their data is not taken from them, they own their data, 0:08:15.600 --> 0:08:16.880 they can get value forward. 0:08:17.360 --> 0:08:18.840 And if we can get. 0:08:18.720 --> 0:08:22.280 One hundred and seventy million Americans over, then we have 0:08:22.520 --> 0:08:25.800 an alternative Internet that we can actually use. 0:08:26.200 --> 0:08:27.280 Can I ask questions? 0:08:27.840 --> 0:08:32.280 So my question to you is, I understand that the 0:08:32.320 --> 0:08:35.880 reason and the fear that people have toward TikTok is 0:08:35.920 --> 0:08:41.720 that a perceived enemy, namely China, has access to whatever 0:08:41.760 --> 0:08:47.400 information has been put into this bite dance. You would 0:08:47.720 --> 0:08:51.520 in purchasing if that should go through in purchasing a TikTok, 0:08:52.040 --> 0:08:55.640 do I, as a TikTok user, have to re up 0:08:55.840 --> 0:09:00.880 with whatever your platform is or it does it does 0:09:00.920 --> 0:09:04.200 it automatically come out of byte dance into your stack 0:09:05.400 --> 0:09:07.920 and they already have that information? 0:09:08.480 --> 0:09:12.120 Is that erased in some way? Like what is the safety? 0:09:12.800 --> 0:09:18.120 Great great question, and first answer is yes, you would. 0:09:18.160 --> 0:09:22.199 TikTok users would go ahead and the experience would be 0:09:22.320 --> 0:09:26.319 very similar to the experience today. They would be able 0:09:26.360 --> 0:09:29.839 to enjoy TikTok and use TikTok and be connected just 0:09:30.360 --> 0:09:34.920 like people are today, but in lieu of being surveilled 0:09:35.080 --> 0:09:40.440 and having their data scrade and being subject to you know, 0:09:40.520 --> 0:09:45.200 to missing disinformation because once China has your data, then 0:09:45.240 --> 0:09:48.360 they can go ahead and feed you information. Right in 0:09:48.400 --> 0:09:51.760 lieu of that, you would be permissioning the use of 0:09:51.800 --> 0:09:57.280 your data with others, and you would actually be able 0:09:57.280 --> 0:10:00.440 to get value for your data as well. So the 0:10:00.640 --> 0:10:05.280 user experience very similar, the look and feel the same, 0:10:05.840 --> 0:10:10.200 but it would empower the one hundred and seventy million 0:10:10.280 --> 0:10:15.599 people on TikTok rather than just the platform that is 0:10:15.800 --> 0:10:17.360 that is taking advantage of them. 0:10:17.400 --> 0:10:20.200 So that's that's the difference. 0:10:20.640 --> 0:10:24.080 As a user, I have eleven million followers on TikTok 0:10:24.160 --> 0:10:27.320 right now. So the one hundred and seventy million Americans 0:10:27.360 --> 0:10:31.040 who have accumulated this kind of following and this kind 0:10:31.080 --> 0:10:34.760 of audience, as I look at them, I would have 0:10:34.840 --> 0:10:38.440 to abandon what is now TikTok to go to your 0:10:38.600 --> 0:10:41.760 Why would I give up those eleven million followers who 0:10:41.760 --> 0:10:42.880 are on TikTok. 0:10:42.520 --> 0:10:44.640 Okay, So it's actually just the opposite. 0:10:44.679 --> 0:10:49.440 Howie, I met with twenty of the top influencers on 0:10:49.520 --> 0:10:52.280 TikTok at the time we were announcing the bid, because 0:10:52.320 --> 0:10:53.719 I wanted to make sure we weren't king to just 0:10:53.720 --> 0:10:57.600 get blown out of the water by the major influences 0:10:57.760 --> 0:11:00.320 on TikTok. Right when we announced this bid, so I 0:11:00.320 --> 0:11:02.600 hosted at dinner out in Malibu with twenty of them 0:11:03.240 --> 0:11:05.520 that have over one hundred million of one hundred and 0:11:05.559 --> 0:11:11.560 seventy million followers or people following that month on TikTok, 0:11:12.000 --> 0:11:15.959 and I came away with incredible insight into what they 0:11:16.080 --> 0:11:19.560 like and what they don't like about the platform. And 0:11:19.600 --> 0:11:22.360 what they don't like about the platform are two things. 0:11:22.640 --> 0:11:29.040 Number One, they post a interesting video and they it 0:11:29.080 --> 0:11:33.520 goes viral and they're famous and they love it. They 0:11:33.520 --> 0:11:36.839 post another video that's very similar in their mind and 0:11:36.880 --> 0:11:40.400 it's nothing. Nothing happens, and they have no idea why 0:11:40.720 --> 0:11:45.120 on TikTok because it's it's a content graph, not social 0:11:45.160 --> 0:11:50.720 graph technology, meaning it's content that gets amplified. Right, it's 0:11:50.760 --> 0:11:55.040 not people are following, not Hollowie, but content that Howie 0:11:55.240 --> 0:11:59.160 posts on TikTok. The influences on TikTok don't They don't 0:11:59.160 --> 0:12:03.080 know who they're following. They don't have any insight int 0:12:03.080 --> 0:12:07.520 who that community is, unlike the other social media platforms 0:12:07.520 --> 0:12:11.280 that are social graphic based. So when we told them 0:12:11.440 --> 0:12:14.000 that they would not only know who their followers are, 0:12:14.679 --> 0:12:18.000 but they would own them. We won't own them or 0:12:18.080 --> 0:12:21.120 byte dance wouldn't own them, they would own their relationships. 0:12:22.600 --> 0:12:25.240 Wanted to make very very important for your listeners to understand. 0:12:25.960 --> 0:12:29.719 It's not that China has data on one hundred and 0:12:29.720 --> 0:12:30.920 seventy million Americans. 0:12:31.160 --> 0:12:32.520 That's the worst part of this. 0:12:33.760 --> 0:12:37.679 It's that China can feed information to one hundred and 0:12:37.720 --> 0:12:42.720 seventy million Americans. That suits China to get those one 0:12:42.800 --> 0:12:44.120 hundred and seventy million. 0:12:43.800 --> 0:12:44.840 People to believe it. 0:12:45.880 --> 0:12:50.280 Half of the people that use TikTok are getting all 0:12:50.400 --> 0:12:53.400 their news from TikTok, and only one percent of that 0:12:53.520 --> 0:12:56.360 news quote unquote is coming from reliable sources. 0:12:56.679 --> 0:12:59.880 It's just information that may or may not be correct 0:13:00.320 --> 0:13:01.880 or or verified. 0:13:01.960 --> 0:13:06.800 So it's not like resource news that's been validated. It's 0:13:06.800 --> 0:13:11.319 the manipulation of people that that freaked out Congers. 0:13:11.920 --> 0:13:14.920 So Frank here asking a couple of questions. Number one, 0:13:14.960 --> 0:13:16.800 how do you monitor I can hear people yelling about 0:13:16.800 --> 0:13:19.760 your house to monetize his platform? Number one? Number two 0:13:20.200 --> 0:13:21.720 are you going to get one hundred and seventy million? 0:13:21.880 --> 0:13:24.280 And the third part of that is does this company 0:13:24.440 --> 0:13:26.440 White Dance put a name by way, do they want 0:13:26.480 --> 0:13:28.800 to sell? Do you have a shot at this or 0:13:28.800 --> 0:13:31.280 how's this moving along? And what if they say no? 0:13:32.920 --> 0:13:33.280 Okay? 0:13:33.320 --> 0:13:37.760 So if the Chinese Communist Party or the founder and 0:13:37.840 --> 0:13:40.400 controlling shareholder by Dance, either of them or both of 0:13:40.400 --> 0:13:42.440 them decide not to sell it, to shut it down, 0:13:42.800 --> 0:13:43.520 it's game over. 0:13:43.920 --> 0:13:45.720 Okay, we don't control that outcome. 0:13:46.360 --> 0:13:50.240 If they agree to sell it, then it gets interesting 0:13:50.320 --> 0:13:53.320 for us because it's not going to go just to 0:13:53.360 --> 0:13:56.840 the highest bidder. It's going to someone that can actually 0:13:57.000 --> 0:14:01.680 solve for the national security issues, which means a complete 0:14:02.240 --> 0:14:06.760 disentanglement from the Chinese technology, which means you need to 0:14:06.800 --> 0:14:09.560 have a tech stack to move the user base and 0:14:09.600 --> 0:14:12.959 the data over to If you don't have that, then 0:14:13.000 --> 0:14:16.480 you can't bid. That's where Project Liberty came in because 0:14:16.480 --> 0:14:18.880 we had been building a tech stack for four and 0:14:18.920 --> 0:14:22.320 a half years and it was up and running, so 0:14:22.400 --> 0:14:23.480 otherwise we wouldn't be a. 0:14:23.480 --> 0:14:24.240 Bitter for this. 0:14:24.600 --> 0:14:27.440 As far as the model, the economic model, there will 0:14:27.480 --> 0:14:31.800 be advertising in this new world, but rather than have 0:14:31.960 --> 0:14:38.000 advertising to be based on scraping our data, profiling us, 0:14:38.840 --> 0:14:42.880 pushing ads towards us, in other words, targeting us, maybe 0:14:43.040 --> 0:14:45.920 sending us some stuff that's relevant, and maybe sending us 0:14:45.920 --> 0:14:47.160 a lot of stuff that's a nuisance. 0:14:47.960 --> 0:14:49.480 Why not shift from. 0:14:49.240 --> 0:14:54.400 An attention economy to an intention economy where you want 0:14:54.440 --> 0:14:58.200 to buy something competer Just go online and say you're 0:14:58.560 --> 0:15:01.800 I'm a real person. I can verify that I'm a person. 0:15:01.840 --> 0:15:04.560 I'm not a bot, or I'm not pretending I'm Howie. 0:15:04.680 --> 0:15:07.760 You can withhold your your name as I'm interested in 0:15:07.800 --> 0:15:10.680 buying still in the blank, show me what. 0:15:10.640 --> 0:15:13.640 You have as somebody who is on social media and 0:15:13.680 --> 0:15:16.120 a big probably a bigger part of what I do 0:15:16.200 --> 0:15:19.080 is on social media than what people know me for 0:15:19.400 --> 0:15:24.640 on television. My question to you is, why would you 0:15:24.760 --> 0:15:29.280 buy TikTok when for the last four years you have 0:15:29.920 --> 0:15:33.359 built a stack that can actually handle that kind of business. 0:15:33.960 --> 0:15:38.600 Why wouldn't you just launch that and offer something more. 0:15:38.840 --> 0:15:39.480 I'll tell you something. 0:15:39.840 --> 0:15:44.040 I make money on YouTube, I make money on other platforms. 0:15:44.480 --> 0:15:48.040 The hardest place for me to make money is on TikTok, 0:15:48.080 --> 0:15:52.120 even with a supposedly eleven million followers. Why don't you 0:15:52.200 --> 0:15:54.600 just offer a big you know, because that's what's driven 0:15:54.920 --> 0:15:59.920 the influencer or the creator to those platforms. Why would 0:15:59.920 --> 0:16:03.640 you waste money and buy TikTok when you can just 0:16:04.200 --> 0:16:05.680 replicate and do it yourself. 0:16:06.680 --> 0:16:10.960 Well, and we we are and we will, so we're 0:16:10.960 --> 0:16:13.400 not putting all of our eggs in this basket. 0:16:13.880 --> 0:16:18.920 This is just a would be an incredible way to. 0:16:18.920 --> 0:16:22.800 Actually turn a problem into a solution. So take something 0:16:22.800 --> 0:16:25.040 that's a threat to the country, turn it into a 0:16:25.080 --> 0:16:29.360 new Internet that's better for people and how you know, 0:16:29.400 --> 0:16:33.680 as well as anyone the most challenging part of of 0:16:34.040 --> 0:16:37.560 any new tech idea on the Internet is how do 0:16:37.560 --> 0:16:40.400 you get adoption right? How do you get how do 0:16:40.440 --> 0:16:45.160 you create traction? And this money instant traction, that's it. 0:16:45.280 --> 0:16:46.160 That's not money. 0:16:47.120 --> 0:16:48.280 That's the benefit to us. 0:16:48.560 --> 0:16:52.080 We're building this alternative Internet with or without TikTok. 0:16:52.120 --> 0:16:55.120 But if you took the money that you were kind 0:16:55.120 --> 0:17:00.080 of allocating to buy the brand as it were, if 0:17:00.120 --> 0:17:02.480 you took that money and play and paid it to 0:17:02.560 --> 0:17:05.760 the creators, I think that people are following. That's why 0:17:05.760 --> 0:17:08.919 they're called influencers. If you own the influencers, if you 0:17:09.040 --> 0:17:11.760 own those top twenty people that you talk to in Malibu, 0:17:12.240 --> 0:17:14.720 and you paid them enough, people are going to follow 0:17:14.880 --> 0:17:17.399 as you said, they follow the content. So if you 0:17:17.400 --> 0:17:21.040 could buy the content, then you could get it without 0:17:21.080 --> 0:17:26.840 actually buying then and you could relegate TikTok to you 0:17:26.880 --> 0:17:28.840 know almost nothing without buying it. 0:17:29.920 --> 0:17:39.600 Yeah. 0:17:40.480 --> 0:17:44.040 If you could buy the content, then you could get 0:17:44.080 --> 0:17:48.400 it without actually buying then. Yeah, and you could relegate 0:17:48.440 --> 0:17:52.280 TikTok to you know, almost nothing without buying it. 0:17:53.280 --> 0:17:53.520 Yeah. 0:17:53.520 --> 0:17:55.600 And that's why we call it the people's bit because 0:17:55.840 --> 0:17:57.639 our whole point of view here is I want to 0:17:57.680 --> 0:18:00.119 green Bay packer this thing, just like the fans on 0:18:00.200 --> 0:18:02.120 the packers. I want the influencers to own a big 0:18:02.200 --> 0:18:06.600 chunk of this business. We believe our premises the current 0:18:06.640 --> 0:18:11.800 Internet is fundamentally broken. It's doing more damage than it's 0:18:11.800 --> 0:18:14.960 doing good. It's doing good things, but it's doing a 0:18:15.000 --> 0:18:15.879 lot of bad things. 0:18:16.320 --> 0:18:18.200 And and and. 0:18:18.040 --> 0:18:22.000 Our premise is that the reason why it's creating the 0:18:22.040 --> 0:18:25.240 harms and doing the damage that it's doing is because 0:18:25.280 --> 0:18:27.840 it was never designed to do what it was doing. 0:18:28.359 --> 0:18:31.080 When the inventors of the Internet, when Tim Berners lead, 0:18:31.119 --> 0:18:33.400 the inventor of the World Wide Web, set it up, 0:18:33.680 --> 0:18:36.440 it was not imagine that it was going to connect 0:18:36.480 --> 0:18:41.200 billions of people without any rules of the road whatsoever, 0:18:41.359 --> 0:18:45.040 and so it's amplifying bad stuff. Look at look at 0:18:45.040 --> 0:18:48.960 the our information ecosystem. It's hard to tell facts from fiction. 0:18:49.160 --> 0:18:52.160 But everybody not only but not only digitally, like even 0:18:52.280 --> 0:18:55.720 regular mainstream media is tough to believe. 0:18:56.760 --> 0:19:01.959 I and can guess what mainstream media did when the 0:19:02.000 --> 0:19:08.560 Internet became the predominant means of communication. What everybody everybody 0:19:08.600 --> 0:19:11.320 sat around in those conventional media boardrooms when they were 0:19:11.320 --> 0:19:13.000 deciding what was going to be the headline of the 0:19:13.080 --> 0:19:15.040 day or what was going to go on the the 0:19:15.200 --> 0:19:20.000 you know, the traditional newscast, it was what's trending. And 0:19:20.240 --> 0:19:23.680 what was missed in this whole equation is what trends 0:19:23.760 --> 0:19:29.719 online is not the most researched news, the most important story, 0:19:29.760 --> 0:19:33.560 even not even a factually accurate story. It's what gets 0:19:33.560 --> 0:19:36.199 the most followers. And we've learned that what gets the 0:19:36.200 --> 0:19:40.040 most followers is the most extreme and that doesn't mean 0:19:40.160 --> 0:19:43.800 it's at all accurate. So our information system has been 0:19:43.840 --> 0:19:49.040 completely contaminated under a I know that money is a 0:19:49.040 --> 0:19:53.639 great incentive for people, and if people just stop for 0:19:53.640 --> 0:19:56.679 a second look at the value of these five or 0:19:56.720 --> 0:20:03.200 seven companies, it's it's you based on our data. That's 0:20:03.400 --> 0:20:07.440 that's that's what creates the value of the enterprise. And 0:20:07.480 --> 0:20:10.200 it's only going to get bigger and bigger and bigger 0:20:10.560 --> 0:20:11.080 with AI. 0:20:12.320 --> 0:20:15.040 People. If if people, if people own. 0:20:14.880 --> 0:20:19.320 And control their their data and permission it's use, then 0:20:19.640 --> 0:20:20.760 they're going to get They're going to. 0:20:20.760 --> 0:20:22.680 Set the terms. Imagine an Internet Peter. 0:20:23.320 --> 0:20:26.320 We're rather than clicking mindlessly on the terms and conditions 0:20:26.359 --> 0:20:29.080 of use of a few platforms giving up everything for 0:20:29.119 --> 0:20:33.560 a free app, the new apps are clicking on your 0:20:33.640 --> 0:20:34.960 terms and conditions. 0:20:34.480 --> 0:20:35.680 Of use for your data. 0:20:35.720 --> 0:20:38.239 But can I If it's some use case that's going 0:20:38.320 --> 0:20:40.320 to cure cancer, you're going to say you can have 0:20:40.440 --> 0:20:42.320 my data on an anonymous basis. 0:20:42.440 --> 0:20:44.119 If it's a commercial thing, you're going to say, I 0:20:44.160 --> 0:20:44.840 want to get taped. 0:20:44.880 --> 0:20:48.239 But Frank, Frank all all. You know, I'm just going 0:20:48.320 --> 0:20:52.679 to be you know, totally. I don't think the average 0:20:52.720 --> 0:20:56.840 person that is on TikTok really cares about their data. 0:20:57.000 --> 0:21:00.520 I don't think the average person on TikTok really cares 0:21:00.680 --> 0:21:04.920 about what China is going to do with my bank account, 0:21:05.160 --> 0:21:07.760 which China is going to want you. You did explain 0:21:07.800 --> 0:21:10.040 to me that the bigger deal is that they'll be 0:21:10.080 --> 0:21:14.200 able to push miscombation in my way, and maybe that'll 0:21:14.760 --> 0:21:17.960 kind of convince me to do you know their agenda. 0:21:18.560 --> 0:21:21.880 That being said, if you want to push people off TikTok, 0:21:21.960 --> 0:21:23.120 wich you didn't answer. 0:21:24.400 --> 0:21:26.960 Was the question I asked, why don't? 0:21:27.040 --> 0:21:31.000 Because money does drive movement, Why don't you just offer 0:21:31.119 --> 0:21:34.440 all this money that you your conglomerate is putting together 0:21:35.000 --> 0:21:38.680 to the actual users. I promise you that the average person, 0:21:38.720 --> 0:21:41.320 whether you're fifteen years old, whether you're five years old, 0:21:42.240 --> 0:21:46.399 will go on I'd rather dance on TikTok and on 0:21:46.960 --> 0:21:51.359 your TikTok and get big money. Whereas when I dance 0:21:51.440 --> 0:21:54.320 on my TikTok, even with the eleven million viewers, people 0:21:54.400 --> 0:21:58.800 like to accumulate numbers. They they're more fascinated with accumulating dollars. 0:21:58.840 --> 0:22:01.280 I'd rather dance on yours, and you give me the 0:22:01.320 --> 0:22:03.320 money and save the money that you want to give 0:22:03.359 --> 0:22:06.320 bike dance, give it to me, and I promise you 0:22:06.440 --> 0:22:09.399