Latest / Earn Your Leisure / Unpacking the TikTok Takeover & The Dangers of a Few Owning All Media

Transcript

Unpacking the TikTok Takeover & The Dangers of a Few Owning All Media · Earn Your Leisure

• 0:01
  Speaker 1: This episode is brought to you by P and C Bank.
• 0:03
  Speaker 1: A lot of people think podcasts about work are boring,
• 0:06
  Speaker 1: and sure they definitely can be, but understanding of professionals
• 0:10
  Speaker 1: routine shows us how they achieve their success little by little,
• 0:14
  Speaker 1: day after day. It's like banking with P and C Bank.
• 0:18
  Speaker 1: It might seem boring to safe plan and make calculated
• 0:21
  Speaker 1: decisions with your bank, but keeping your money boring is
• 0:24
  Speaker 1: what helps you live or more happily fulfilled life. P
• 0:27
  Speaker 1: and C Bank Brilliantly Boring since eighteen sixty five. Brilliantly
• 0:32
  Speaker 1: Boring since eighteen sixty five is a service mark of
• 0:35
  Speaker 1: the PNC Financial Service Group, Inc. P and C Bank
• 0:39
  Speaker 1: National Association Member FDIC.
• 0:43
  Speaker 2: How you feel about the TikTok takeover potentially?
• 0:46
  Speaker 3: I just want to see this finally get done, to
• 0:48
  Speaker 3: see what Larry has positioned himself. Well, while I was
• 0:53
  Speaker 3: talking to stock Club about this, I remember when it
• 0:55
  Speaker 3: was supposed to be Microsoft and that fell out of favor.
• 0:58
  Speaker 4: Thank god they had to open their investment.
• 1:00
  Speaker 3: I just wonder what that algorithm will look like and
• 1:04
  Speaker 3: if it will deliver the same potency of information that
• 1:07
  Speaker 3: was coming out. I even think TikTok's main algorithm is
• 1:11
  Speaker 3: getting watered down some But I think it's a great hedge.
• 1:15
  Speaker 4: But I think.
• 1:20
  Speaker 3: And hid insight it was smarter Microsoft to not to
• 1:23
  Speaker 3: continue to fight for that and get that the real
• 1:24
  Speaker 3: ip that matters, which is the partnership wul open Aie. Well,
• 1:29
  Speaker 3: what do you guys think about it?
• 1:32
  Speaker 5: It's interesting the t leaves were there.
• 1:35
  Speaker 1: We talked about it in January Posed the clip, talked
• 1:37
  Speaker 1: about it in July Posed the clip. The t leaves
• 1:40
  Speaker 1: were there for Oracle, for sure, that was one of
• 1:42
  Speaker 1: those deep dives. What they already if you watch the
• 1:45
  Speaker 1: stock from twenty twenty to where they at now, you
• 1:47
  Speaker 1: can see the impact that they've had in terms of
• 1:49
  Speaker 1: using the cloud service. But there's another company privately hell
• 1:54
  Speaker 1: that nobody talks about and we should.
• 1:58
  Speaker 5: When you talk about reaction.
• 2:04
  Speaker 1: If if you look at the tea leaves of who
• 2:07
  Speaker 1: the partnerships are, Yes, you see Oracle's name a lot,
• 2:10
  Speaker 1: you see open Ai. But there's a private company by
• 2:14
  Speaker 1: the name of silver Lake tilver Lake Capital. So let's
• 2:19
  Speaker 1: do like now I had to go down to deep dive.
• 2:21
  Speaker 1: All right, Well, let's think about this right when we
• 2:23
  Speaker 1: talk about Stargate. It originally started a soft bank open
• 2:26
  Speaker 1: Ai and Oracle. Later on, silver Lake became a part
• 2:29
  Speaker 1: of that ownership group and they said, all right, here
• 2:31
  Speaker 1: comes the data centers. All right, so now silver Lake
• 2:33
  Speaker 1: has data centers, right with the Stargate thing. Then the
• 2:37
  Speaker 1: TikTok deal comes around and you look at the names
• 2:40
  Speaker 1: of the ownership and the staties involved, right, and you
• 2:43
  Speaker 1: saw Oracle and then you saw silver Lake. All right,
• 2:47
  Speaker 1: so now they got Stargate, they got the data centers,
• 2:50
  Speaker 1: they got TikTok.
• 2:51
  Speaker 5: Now they have a user base and data from that.
• 2:55
  Speaker 1: Then you start pulling that the leaves a little bit further,
• 2:58
  Speaker 1: and you talk about a company that has had a
• 3:02
  Speaker 1: great year, right endeavor obviously with the WWE and the UFC,
• 3:08
  Speaker 1: and you think about who's funded them. Yep, silver Lake again,
• 3:14
  Speaker 1: so now they have entertainment. This is an entertainment conglomerate.
• 3:17
  Speaker 5: Right.
• 3:17
  Speaker 1: And then when the news came out today about EA Sports,
• 3:21
  Speaker 1: and we'll talk about some of the owners that a
• 3:24
  Speaker 1: billion dollar deal. Some some of those people are close
• 3:27
  Speaker 1: to the president. Civil likes part of that as well.
• 3:31
  Speaker 1: And so now you're looking data centers. You're looking at
• 3:34
  Speaker 1: data from a user standpoint, You've got entertainment right with
• 3:39
  Speaker 1: Endeavor and now EA, So like, why are they connecting
• 3:42
  Speaker 1: all of that?
• 3:43
  Speaker 5: What does a bigger play here? There's a bigger play
• 3:45
  Speaker 5: here when we're.
• 3:46
  Speaker 1: Talking about what Larry Ellison did and David Elson did
• 3:49
  Speaker 1: in terms of grabbing paramount right and well potentially next
• 3:54
  Speaker 1: having Warner Brothers. They've got a media conglomerate that's a
• 3:57
  Speaker 1: goodmb of the now biggest of all time. That's of
• 4:01
  Speaker 1: the now we're talking about streaming right, but the next
• 4:05
  Speaker 1: wave that we might be going down is in this
• 4:09
  Speaker 1: space of AI in terms of metaverse right al.
• 4:15
  Speaker 5: Turnative re up.
• 4:16
  Speaker 1: And so now they have the data with TikTok, they
• 4:18
  Speaker 1: have the data centers to help get the infrastructure off
• 4:20
  Speaker 1: the ground. They have UFC and entertainment. Now they have
• 4:23
  Speaker 1: video games.
• 4:24
  Speaker 2: Right.
• 4:24
  Speaker 1: So if you don't know, and we all grew up
• 4:26
  Speaker 1: in that era where we played EA sports is in
• 4:28
  Speaker 1: the game right we that we played live They got
• 4:32
  Speaker 1: out of field, which most people don't even realize has
• 4:35
  Speaker 1: past call of duty in terms of amount of users.
• 4:39
  Speaker 1: They have all of that at their domain to now
• 4:42
  Speaker 1: create a bigger media conglomerate that will be the media
• 4:45
  Speaker 1: climate of the future right that the way they're looking
• 4:48
  Speaker 1: at this is ten to fifteen years down the line.
• 4:52
  Speaker 5: Yes, streaming Elise and they've taken that.
• 4:54
  Speaker 1: We've seen everybody at the highest level grab media. We
• 4:58
  Speaker 1: saw Bezos grab Mediabviously Elon has grad media. But this
• 5:02
  Speaker 1: for the highest level, this is the futuristic way that
• 5:05
  Speaker 1: I see them thinking about it.
• 5:07
  Speaker 5: We took entertainment, we took gaming in AI.
• 5:10
  Speaker 1: We have the data centerce we have the user base
• 5:12
  Speaker 1: with TikTok, We already have what we're going to build
• 5:14
  Speaker 1: in terms of AI for the infrastructure. They're putting this
• 5:17
  Speaker 1: whole thing together. Nobody talks about them. I looked up
• 5:20
  Speaker 1: the CEOs. You would never if they walked past.
• 5:22
  Speaker 3: You on you and know and more importantly mind chair,
• 5:25
  Speaker 3: because if I have you when you get off Battlefield
• 5:27
  Speaker 3: or whatever game you play on EA and TikTok and
• 5:31
  Speaker 3: what you're watching I have, I have eighty percent of
• 5:33
  Speaker 3: your mind share.
• 5:34
  Speaker 6: Also, okay from an investment standpoint for sure, But do
• 5:38
  Speaker 6: you feel comfortable with the TikTok deal.
• 5:42
  Speaker 3: That's above my pick grip. I haven't got my build
• 5:45
  Speaker 3: to Burke left. I got my van guard, but and
• 5:48
  Speaker 3: what's the what regard.
• 5:50
  Speaker 1: And then and then the US I guess investment walking
• 5:55
  Speaker 1: with this, this new group of investors having the data
• 5:57
  Speaker 1: as opposed to what they thought China might have the data.
• 6:01
  Speaker 5: Shat in that sense.
• 6:02
  Speaker 4: Okay, we A part of this.
• 6:05
  Speaker 5: Is though, yo, I'm yo, i'mnat.
• 6:08
  Speaker 1: You can I tell you something part about conversation yesterday?
• 6:14
  Speaker 1: Uh so Rabbit tells he's the story and I was
• 6:16
  Speaker 1: we were talking about cybersecurity because he's made a I mean,
• 6:20
  Speaker 1: he's probably the number one person in terms of cyber
• 6:22
  Speaker 1: security in the country. And how you know, we always
• 6:25
  Speaker 1: talk about safety and safety and safety. He's like, you know,
• 6:27
  Speaker 1: there was a time in the late nineties where we
• 6:32
  Speaker 1: won't name the company, fastold company offered a hamburger and
• 6:35
  Speaker 1: in exchange if you if you.
• 6:39
  Speaker 5: Gave them.
• 6:41
  Speaker 2: The company company said it.
• 6:43
  Speaker 1: So McDonald's had this offer, like, will give you a hamburger, cheeseburger,
• 6:46
  Speaker 1: whatever it was.
• 6:47
  Speaker 5: It was two years ago. I was always a little
• 6:50
  Speaker 5: longer than that. Two years ago.
• 6:51
  Speaker 1: We'll offer you a cheeseburger, hamburger in exchange for your name,
• 6:55
  Speaker 1: your first name, your last name in your address. And
• 6:58
  Speaker 1: he said, how many people do you think did that
• 7:01
  Speaker 1: took the Burger m seventy two percent of the people
• 7:08
  Speaker 1: gave away the information for Hamburger, And we're thinking about, Hey,
• 7:14
  Speaker 1: what should we feel comfort or safe with a company
• 7:17
  Speaker 1: having our data?
• 7:19
  Speaker 5: They already have it, so.
• 7:20
  Speaker 2: But do we feel comfortable with the TikTok deal?
• 7:24
  Speaker 3: To be very honest, I think we're not getting the
• 7:26
  Speaker 3: purest products, which is a Chinese algorithm. We're getting a
• 7:30
  Speaker 3: derivative work stepped on those who are in the underworld.
• 7:35
  Speaker 4: Do I feel comfortable with it?
• 7:38
  Speaker 3: No?
• 7:38
  Speaker 4: I get the ideal. But if we are at war
• 7:43
  Speaker 4: with China and we go to China.
• 7:47
  Speaker 3: And say we have to break this up because you're
• 7:49
  Speaker 3: having influence over American users, that's a double edged sword.
• 7:53
  Speaker 3: But to then not get the real algorithm, it's interesting.
• 7:57
  Speaker 3: Unless you want to control the thought process of the
• 7:59
  Speaker 3: people war on set app in the country, you're still
• 8:03
  Speaker 3: not getting the real thing. It's like when the Christler,
• 8:05
  Speaker 3: you getting the Christler three hundred CE.
• 8:08
  Speaker 2: So okay.
• 8:09
  Speaker 6: So from a standpoint of this, right, the richest person
• 8:12
  Speaker 6: in the world owns X, the second richest person in
• 8:20
  Speaker 6: the world is trying to buy TikTok.
• 8:21
  Speaker 4: Let's see where you're going. Yeah, Basos with Washington Post.
• 8:24
  Speaker 6: The third richest person in the world owns Instagram, Facebook
• 8:29
  Speaker 6: and WhatsApp. The fourth richest person in the world owns
• 8:34
  Speaker 6: the Washington Post. We live in a society where less
• 8:42
  Speaker 6: than ten people control ninety eight percent of the narratives
• 8:49
  Speaker 6: and stories that we're actually consuming. Buyers of potential buyers
• 8:56
  Speaker 6: of TikTok. Rupert Murdoch is part of the group. Also, Yeah, yep,
• 9:04
  Speaker 6: Larry Ellison. X has already been taken over by far
• 9:13
  Speaker 6: right wing ideology. It's pretty much maga X. Stay should
• 9:17
  Speaker 6: change the name of X to MEGA. If you go
• 9:20
  Speaker 6: on it, you know who has the most followers on X.
• 9:25
  Speaker 6: How's that happen? It is exactly Make sure when you
• 9:31
  Speaker 6: go on X, you'll see the first thing you'll see
• 9:35
  Speaker 6: it's the most right wing. It's not by accident. They control.
• 9:39
  Speaker 6: They control what you actually are seeing on your timeline.
• 9:42
  Speaker 6: It's a it's a right wing platform, TikTok. It's headed
• 9:48
  Speaker 6: in that direction for sure if this deal goes through.
• 9:54
  Speaker 6: So now you have TikTok and you have Twitter X,
• 10:02
  Speaker 6: which essentially will be used.
• 10:05
  Speaker 4: As a propaganda tool for.
• 10:09
  Speaker 6: Right wing ideology of this administration for sure, and any
• 10:15
  Speaker 6: other right wing ideology that needs to be pushed. That's
• 10:19
  Speaker 6: concerning and it's dangerous. So do you feel comfortable, of
• 10:28
  Speaker 6: course not. How can I feel comfortable if it's concerning
• 10:30
  Speaker 6: and dangerous.
• 10:31
  Speaker 5: Just making sure.
• 10:32
  Speaker 1: I mean, I feel like people are living in it.
• 10:36
  Speaker 1: I don't even think they're even thinking of it at
• 10:38
  Speaker 1: that level. And that's just the mind frame of the
• 10:41
  Speaker 1: person that is Yeah, I'm just trying to survive. They're
• 10:46
  Speaker 1: not even realizing that these type of chess pieces. It's
• 10:50
  Speaker 1: like you're controlling the mind of people on every level
• 10:54
  Speaker 1: like that. If I get the kids at TikTok, if
• 10:58
  Speaker 1: I don't get them on TikTok, I'm gonna get them
• 10:59
  Speaker 1: in game.
• 11:00
  Speaker 5: I'm gonna grab him there, right.
• 11:02
  Speaker 1: So, like Jared Kushner is part of that ownership group
• 11:05
  Speaker 1: for EA, right Affinity Partners.
• 11:08
  Speaker 5: He's the CEO of Affinity Partners.
• 11:09
  Speaker 1: For those who are not to know, he's the CEO
• 11:11
  Speaker 1: of Infinity Partners that just put that that group together
• 11:14
  Speaker 1: for fifty five billion to acquire EA.
• 11:17
  Speaker 5: That's not by mistake, Nope.
• 11:23
  Speaker 4: Yeah.
• 11:23
  Speaker 3: The name of the game in America has always been
• 11:25
  Speaker 3: a monopoly, though, it's just not hitting how it.
• 11:27
  Speaker 5: Used to be.
• 11:28
  Speaker 1: That's true for those who again, let's go for Jared
• 11:31
  Speaker 1: Kushner is the son in law of the current President
• 11:34
  Speaker 1: of the United States.
• 11:35
  Speaker 6: And for the people that's like, okay, well, it's not
• 11:37
  Speaker 6: concerning when the left wing has it. I'm just gonna
• 11:40
  Speaker 6: be honest with you. I'm a black man in America.
• 11:42
  Speaker 6: I don't agree with a lot of this stuff that
• 11:44
  Speaker 6: the left does. But the right is way more dangerous.
• 11:48
  Speaker 4: And the left never had majority of control of the media.
• 11:51
  Speaker 6: That's fucking this shit that we had it too right
• 11:53
  Speaker 6: now is Kolcus Klan country.
• 11:55
  Speaker 2: That's a fact, So pick your poison.
• 12:00
  Speaker 6: But anybody that's trying to rationalize racism is dangerous and
• 12:08
  Speaker 6: that's what's happening every single day.
• 12:12
  Speaker 4: That's the core principles of American philosophy.
• 12:15
  Speaker 5: Earners, what's up.
• 12:16
  Speaker 1: Look, this episode is brought to you by Square Banking.
• 12:19
  Speaker 1: One of the things we love most is seeing neighborhood
• 12:22
  Speaker 1: businesses level up. This this West Indian spir righting our
• 12:25
  Speaker 1: community that started with a small takeout counter. Now with
• 12:28
  Speaker 1: Square they've been able to expand into a full sit
• 12:31
  Speaker 1: down restaurant and even started catering events across the city.
• 12:35
  Speaker 1: That's the kind of growth that inspires us and it's
• 12:38
  Speaker 1: powered by Square. Square is built for all types of businesses,
• 12:42
  Speaker 1: from the corner bagel shop that turned into a local chain,
• 12:45
  Speaker 1: to the specialty market with thousands of unique items, to
• 12:49
  Speaker 1: the stylists who's been holding you down for years. With
• 12:52
  Speaker 1: Square banking, growth gets easier. You've got more control over
• 12:56
  Speaker 1: your cash flow, access to capital right in the same
• 12:59
  Speaker 1: system you're already using to run your business, and with
• 13:02
  Speaker 1: a free Square savings account, you can automatically set aside
• 13:06
  Speaker 1: a portion of your sales for upgrades, taxes, and those
• 13:09
  Speaker 1: slow seasons, setting yourself up for long term success and
• 13:13
  Speaker 1: when it's time for the next big move. Square makes
• 13:16
  Speaker 1: it simple to get approved with a Square loan based
• 13:19
  Speaker 1: on your actual business performance. No long ways, just quick
• 13:23
  Speaker 1: access to capital. In fact, eighty eight percent of businesses
• 13:27
  Speaker 1: with Square loans report growth.
• 13:29
  Speaker 5: So go to Square.
• 13:30
  Speaker 1: Dot com slash go, slash ey l to learn more
• 13:34
  Speaker 1: about how your business can grow with Square. That's s
• 13:37
  Speaker 1: q U a r e dot com slash g O,
• 13:42
  Speaker 1: slash e y L.
• 13:44
  Speaker 5: Block Inc. Is not a bank.
• 13:45
  Speaker 1: Banking services provided by Square Financial Services, Inc. And Setting
• 13:49
  Speaker 1: Bank members. FDIC loans are subject to credit approval,