Bill Gurley

That it will be owned partially by just the existing shareholders. Remember, the shareholders in ByteDance, 60% of those are US investors like Altimeter. So that we'll get our shares in TikTok US. And then 50% of it or thereabouts will be new investors. So think, folks, like some of the rumors I've seen, Amazon, Andreessen, Oracle, et cetera.

That it will be owned partially by just the existing shareholders. Remember, the shareholders in ByteDance, 60% of those are US investors like Altimeter. So that we'll get our shares in TikTok US. And then 50% of it or thereabouts will be new investors. So think, folks, like some of the rumors I've seen, Amazon, Andreessen, Oracle, et cetera.

That it will be owned partially by just the existing shareholders. Remember, the shareholders in ByteDance, 60% of those are US investors like Altimeter. So that we'll get our shares in TikTok US. And then 50% of it or thereabouts will be new investors. So think, folks, like some of the rumors I've seen, Amazon, Andreessen, Oracle, et cetera.

And these are investors who are not currently in the cap table yet. of ByteDance. So Altimeter or Co2, we're currently in the cap table of ByteDance. So we're not going to be part of the new investor syndicate, or at least that's my understanding. So imagine they stand that up and then the question- And where would that money go, Brad? So the money would go into this new co, right?

And these are investors who are not currently in the cap table yet. of ByteDance. So Altimeter or Co2, we're currently in the cap table of ByteDance. So we're not going to be part of the new investor syndicate, or at least that's my understanding. So imagine they stand that up and then the question- And where would that money go, Brad? So the money would go into this new co, right?

And these are investors who are not currently in the cap table yet. of ByteDance. So Altimeter or Co2, we're currently in the cap table of ByteDance. So we're not going to be part of the new investor syndicate, or at least that's my understanding. So imagine they stand that up and then the question- And where would that money go, Brad? So the money would go into this new co, right?

So the new co would be capitalized with this new money. It would have a new board.

So the new co would be capitalized with this new money. It would have a new board.

So the new co would be capitalized with this new money. It would have a new board.

No, that's my understanding, that it would go into NUCO, that NUCO would get a license to the algorithm, and it would be up to NUCO to audit that, to audit the data. Because remember, that's the whole point here, Bill. We want to have some control over the algorithm and the data, so it makes sense that Oracle would be involved in that.

No, that's my understanding, that it would go into NUCO, that NUCO would get a license to the algorithm, and it would be up to NUCO to audit that, to audit the data. Because remember, that's the whole point here, Bill. We want to have some control over the algorithm and the data, so it makes sense that Oracle would be involved in that.

No, that's my understanding, that it would go into NUCO, that NUCO would get a license to the algorithm, and it would be up to NUCO to audit that, to audit the data. Because remember, that's the whole point here, Bill. We want to have some control over the algorithm and the data, so it makes sense that Oracle would be involved in that.

Because remember, TikTok runs on the Oracle Cloud down in Texas. I think a logical question is, okay, what's the so what here? And I'm hearing that the valuation for TikTok US could be pretty low, which I would expect, right? Because remember, Trump has said, maybe we'll put this in the US sovereign wealth fund. So he's negotiating the deal. I expect that he wants to get a pretty damn good deal.

Because remember, TikTok runs on the Oracle Cloud down in Texas. I think a logical question is, okay, what's the so what here? And I'm hearing that the valuation for TikTok US could be pretty low, which I would expect, right? Because remember, Trump has said, maybe we'll put this in the US sovereign wealth fund. So he's negotiating the deal. I expect that he wants to get a pretty damn good deal.

Because remember, TikTok runs on the Oracle Cloud down in Texas. I think a logical question is, okay, what's the so what here? And I'm hearing that the valuation for TikTok US could be pretty low, which I would expect, right? Because remember, Trump has said, maybe we'll put this in the US sovereign wealth fund. So he's negotiating the deal. I expect that he wants to get a pretty damn good deal.

No, no, no idea. No idea.

No, no, no idea. No idea.

No, no, no idea. No idea.

Well, I think, remember, if we go back six months... There was a camp that said, shut it down. And there's a camp saying, or we'll just take it, right? Right.

Well, I think, remember, if we go back six months... There was a camp that said, shut it down. And there's a camp saying, or we'll just take it, right? Right.