TikTok Ban One Step Closer to Happening & Taylor Swift's End of An Era
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Good morning, Brew Daily Show. I'm Neil Freiman. And I'm Toby Howell. Today, President-elect Trump said he can't guarantee that tariffs won't lead to inflation.
Then it's the end of an era, literally, as Taylor Swift wrapped up her two-year mega tour. It's Monday, December 9th. Let's ride.
Oh, my God. Can you believe what happened in baseball last night? Superstar Juan Soto has reportedly signed a 15-year, $765 million deal with the New York Mets, the richest contract in professional sports history. It surpasses the 10-year, $700 million contract Shohei Otani received from the Los Angeles Dodgers last year. And unlike Otani, who deferred 97% of that money for a decade last year, Soto is deferring none of it. Toby, the best part about this for Soto is he won't have to spend any of this money on movers. He's coming to the Mets from the Crosstown Yankees.
I mean, the Mets top the Yankees. This really does not happen if you look at the general power dynamics between the two teams in New York. But Steve Cohen, the hedge fund billionaire, ever since he took control of the franchise in 2020, has just operated at a different level. He wasn't going to let money be the thing that made him miss out on this generational star. When Steve Cohen took control of the Mets in 2020, he said he'd be surprised and disappointed if they didn't win a World Series within three to five years. This is year number five, so he's clearly going all in. The clock is ticking, Mr. Cohen. You can't beat the Phillies. Can't beat the Phillies. Now a word from our sponsor, Sage. Sage is back.
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Let's dive into some headlines from the weekend that you may have missed. Up first, get your last scrolls in on TikTok because it's looking like your favorite time-wasting app might indeed be heading for a ban. On Friday, a US appeals court upheld the law passed by Congress earlier this year that could lead to the ban of the app by mid-January. The motivation behind that initial law was national security concerns. Lawmakers claimed that TikTok could fork over its data on its 170 million U.S. users to the Chinese government. TikTok's lawyers have pushed back, saying that the law violates the First Amendment, an argument that the three-judge appeals court rejected. While this does increase the likelihood that TikTok is going to get banned, TikTok has said it plans to appeal the ruling and send the case to the Supreme Court. So, Neil, it's not over yet, but it's looking a little dicey.
Time is absolutely ticking. It looks like there's going to be three potential avenues here. Trump has said that he wants to keep TikTok. TikTok going, but there are limited ways he can do that because this law, banning it, was passed by Congress back in April. So Congress would need to pass another law to remove the ban, and it was passed in bipartisan fashion. So there is a lot of support among lawmakers. So one thing Trump could do is tell Apple and Google through their app stores that he won't enforce the ban. And it would be this handshake agreement where he would just be like, guys, I'm not going to send the DOJ after you can keep TikTok in your app stores. We can keep this thing going even with the ban. ostensibly from Congress.
But that doesn't that would probably spook Apple and Google. The second option here is that TikTok appeals to the Supreme Court and the Supreme Court files an injunction blocking the ban from going into effect before January 19th. And then the final option is for TikTok to sell it to a U.S. company or a U.S. investor group.
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