Trey Gowdy: Why don’t you buy TikTok, move the server to the United States, address the mental health concerns for young people, and that way everybody is happy and you’re richer.
Kevin O’Leary: Well, that’s about to happen if we get the right judgment from the Justices at the Supreme Court, hoping to get that this week. They had the hearing on Friday. I listened to every word.
What we’re deciding now is to either uphold the order of Congress, bipartisan order, to shut down TikTok.
But I don’t want it shut down. It’s not good for my businesses. It’s not good for 6 million other small businesses in America that make a living off it. We just need to take out the onerous piece, the spyware. That’s what Congress was upset about.
And so our offer, my syndicate, along with Frank McCourt, we’ve put together an offer that actually we don’t want to buy the algorithm, that one of the issues the company claimed in their case to the Supreme Court was no one’s going to buy it without the algorithm.
That’s not true. We’ll buy it without the algorithm because we can’t use it. That’s spyware.
We’re going to rebuild the product and make it much better, actually. We’re hoping that this is really a binary outcome. If the Justices is a rule for upholding the law, it will go back to the executive that’s currently Biden.
If he can see a valid purchase offer, which we have, we’ve sent it to the company, all the shareholders and the Chinese government, they have it now. He’ll say, ‘Look, I think you guys should negotiate in good faith. We’ll offer you, if you wish, negotiate a 90-day stay of execution’, so to speak. Then we’ll be working for Donald Trump at 12:05 on January 20th.
This is a very complicated bipartisan deal. It’s what we want to do to save the platform for Americans. I think it’s the right thing to do. The company should want that, too. This is the only path I see forward.
Let’s see what happens. It’s going to be a very interesting week. I spent a fair amount of time, as we have in our syndicate, speaking to both the Republicans and the Democrats on a bipartisan basis. Donald Trump, I just got back an hour ago from Mar-a-ago, and I know my counterparts have been doing the same with Biden. We really want to keep this thing going.
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Kevin O’Leary on Take Over TikTok: We’ll buy it without the algorithm, spyware. Rebuild product