Bill Gurley

Well, I kind of thought that maybe you thought this was a perfect IPO because it ended day one at precisely $40, which was the offering price.

Well, I kind of thought that maybe you thought this was a perfect IPO because it ended day one at precisely $40, which was the offering price.

Well, I mean, listen, there's a lot of rumors swirling, which not surprisingly, this deal is set to expire or need to be extended by April 5th under the terms of the first congressional extension that was made by Trump. They've made very clear that there are a lot of buyers for the TikTok asset bill and that the president has— wants to put together a deal.

Well, I mean, listen, there's a lot of rumors swirling, which not surprisingly, this deal is set to expire or need to be extended by April 5th under the terms of the first congressional extension that was made by Trump. They've made very clear that there are a lot of buyers for the TikTok asset bill and that the president has— wants to put together a deal.

Well, I mean, listen, there's a lot of rumors swirling, which not surprisingly, this deal is set to expire or need to be extended by April 5th under the terms of the first congressional extension that was made by Trump. They've made very clear that there are a lot of buyers for the TikTok asset bill and that the president has— wants to put together a deal.

And of course, we have all these tariffs going on on China. And so I'm sure this will end up as part of a big trade negotiation as it pertains to China. But as you know, just for everybody, we're shareholders. I've been a shareholder in this company since 2015, one of the earliest venture capital rounds in ByteDance, the parent company which owns TikTok.

And of course, we have all these tariffs going on on China. And so I'm sure this will end up as part of a big trade negotiation as it pertains to China. But as you know, just for everybody, we're shareholders. I've been a shareholder in this company since 2015, one of the earliest venture capital rounds in ByteDance, the parent company which owns TikTok.

And of course, we have all these tariffs going on on China. And so I'm sure this will end up as part of a big trade negotiation as it pertains to China. But as you know, just for everybody, we're shareholders. I've been a shareholder in this company since 2015, one of the earliest venture capital rounds in ByteDance, the parent company which owns TikTok.

And for the last two years, I've agreed largely with Elon and Sachs and others that we should engage with China. We shouldn't just shut down TikTok. We should make TikTok abide by the rules and regulations, right, that we have in this country. And that's what this whole legislative unwind was about, you know, the for sale of spin out TikTok U.S. So here's what I'm hearing.

And for the last two years, I've agreed largely with Elon and Sachs and others that we should engage with China. We shouldn't just shut down TikTok. We should make TikTok abide by the rules and regulations, right, that we have in this country. And that's what this whole legislative unwind was about, you know, the for sale of spin out TikTok U.S. So here's what I'm hearing.

And for the last two years, I've agreed largely with Elon and Sachs and others that we should engage with China. We shouldn't just shut down TikTok. We should make TikTok abide by the rules and regulations, right, that we have in this country. And that's what this whole legislative unwind was about, you know, the for sale of spin out TikTok U.S. So here's what I'm hearing.

I'm hearing that there will be a new company stood up, you know, and I'm not privy to any information. I'm not party to these negotiations, but I'm, you know, let's call it TikTok U.S., And that TikTok US will be partly owned by ByteDance. But I think they have to keep that ownership threshold under 20%. So let's call it 19.5% owned by ByteDance.

I'm hearing that there will be a new company stood up, you know, and I'm not privy to any information. I'm not party to these negotiations, but I'm, you know, let's call it TikTok U.S., And that TikTok US will be partly owned by ByteDance. But I think they have to keep that ownership threshold under 20%. So let's call it 19.5% owned by ByteDance.

I'm hearing that there will be a new company stood up, you know, and I'm not privy to any information. I'm not party to these negotiations, but I'm, you know, let's call it TikTok U.S., And that TikTok US will be partly owned by ByteDance. But I think they have to keep that ownership threshold under 20%. So let's call it 19.5% owned by ByteDance.

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?