Former LA Dodgers Owner Frank McCourt Reveals Plans to Buy TikTok
In an interview on the StrictlyVC Download podcast, billionaire Frank McCourt shared his vision for transforming social media. By the potential sale footgear.
Twitter sold for 44B. Tiktok has nearly an order of magnitude more active users and this guy thinks his 500m offer is even in the ballpark?
There must be a misunderstanding on the part of the article writer or it is simply an unfortunately constructed sentence. I mean its obvious that Tiktok can't be purchased in its fullest for just 500m. The budget seems to be the initial money spent to start this project that goes beyond Tiktok. So the way I understand is, he wants to buy Tiktok (maybe other stuff too) and then integrates it into the 500m project.
That would make more sense. These are all incomprehensible sums of money to me anyways.
But after a second read it kind of sounds like he's trying to "invent" the fediverse,
The proposed system would work similarly to email, where users can communicate across different service providers. In this vision, social media users could maintain their connections and content regardless of which platform they choose to use.