Nick Martell

Yetis, the President of the United States, the House of Representatives, the U.S.

Senate, and all nine Supreme Court justices agree on one thing.

TikTok cannot be legal in the United States if it continues to be owned by China.

Well, now, six years into this TikTok saga, TikTok U.S.

is not owned by China anymore as of last week.

That's the big news.

TikTok announced that they have separated off their U.S.

business and sold 80% of it to non-Chinese investors.

ByteDance, a Chinese tech company that owned TikTok, is keeping 20%, but they're giving the other 80% to mostly American investors.

They're giving the other 80% to the consortium.

The consortium.

I feel like we need a music thing there, Jack.

The consortium is made up of billionaire investors mostly connected to the Trump White House, and they got a sweet deal.

We say they got a sweet dealer because they got to buy 80% of TikTok's American business at a $14 billion valuation.

Jack, can you sprinkle on some context?

$14 billion, that's the same valuation as Snap.

It feels to me like TikTok is more valuable than Snap.

It's basically one lift if we look at the numbers, Jack.

So what happened here is this consortium, they basically got offered to buy Apple stock, but at a huge discount to Apple stock's actual price.

TikTok was on the TJ Maxx sale rack lately.