Mitchell Green, Lead Edge Capital founding partner, joins 'Squawk Box' to discuss the TikTok bill in Congress, what it means for a ByteDance investor like Green, how likely a ban will take effect, and more.
Everytime a Chinese product beats a US product in technology or in sales volume, the US would say it's a national security concern or a threat to the US. Lol
Just like China blocked our US products? We need to use reciprocity and ban the same businesses that China blocks, Facebook, Google, NY Times, all and more ,are banned in China.
@@ritaawudey4451why not? if you think white people are better, then prove it. if you can’t, then it just shows that you’re behind the Chinese in advanced technology. Simple as that.
Without Chinese companies, Korean companies would be deemed as a threat to US too like Japan in the 80's, luckily for Korea, China surpassed them in a short time and the US needed their support to contain China.
Well, in the name of national security, microsoft, apple, oracle, general motor, ford, Adobe. walmart etc should sell their Chinese businesses to Chinese, 1 dollar / firm
Why are you defending bike dance why are you defending China has been screwing us for years. Suddenly it comes to social media and everybody's got an opinion on why the US is bad. You really need to grow up and grow a set. Whose side are you on? The us? Or you're on personal interest in a social media company that quite honestly could disappear tomorrow and it wouldn't make a difference.
Its actually very democratic. Stop operation on USA or sell it and continue operation, its better than China just banning any American apps without giving other alternative options.
@@ameserich 1) China doesnt ban any american apps except governmental area this is in reply what US bans the chinese apps in governmental area 2) also u are brainwashed, China doesnt ban any american apps in public just a simple question: can chinese do business in US if we (china) refuses to comply US law?????? the fact is the american refused to comply chinese law when these apps and FB/that-tube want to do business in China
@@ameserich 1) China doesnt ban any american apps except governmental area this is in reply what US bans the chinese apps in governmental area 2) also u are brainwashed, China doesnt ban any american apps in public just a simple question: can chinese do business in US if we (china) refuses to comply US law?????? the fact is the american refused to comply chinese law when these apps and FaulBook or that-tube want to do business in China
@@ameserich 1) Shina doesnt ban any american apps except governmental area this is in reply what U-ASS bans the Shinese apps in governmental area 2) also u are brainwashed, Shina doesnt ban any american apps in public just a simple question: can Shinese do business in U-ASS if we (Shina) refuses to comply U-ASS law?????? the fact is the american refused to comply Shinese law when these apps and FaulBook or that tube want to do business in Shina
Let me put it this way.... Bytedance's tiktok/douyin revenue globally in 2023 is 120 billion dollars and about 16 billion dollars come from the US market... That means the US market only accounts for 13% of the entire revenue of tiktok.... why would Bytedance / China sell off tiktok if most of their money comes outside of America????? huh?????
Thats what Mitchell said too. Apple etc might face the same fate ... Politicians would not care. They only care to get voted for the next 4 years hahahahaha after that they would get a handsome retirement package
@@user-bw6cd2bt1t . When the choice is Boe Jiden or Tonald Drump as leader to lead US, it is no wonder why they are resorting to inciting conflicts, and promoting fear and hatred. That should tell you all you need to know, i.e. its over! 😥😥
It’s not about anti-China. It’s anti communist propaganda. The mind trick communist party has made on its people is daunting. The US government cannot risk its own people to endure the same.
crazy how they keep scapegoating china instead of the elephant in the room, starts with the pariah that starts with is and ends rael. these hasbara networks (yahoo, cnbc, abc, etc...) working their ops.
Fear is the only reason the U.S. wanted to contain China. When tariffs failed, technology sanctions followed. When both tariffs and sanctions failed, de-coupling became the buzzword. And when de-coupling was found to hurt the U.S. economy more than China's, it was changed to de-risking which in effect means a "slow de-coupling" until a more appropriate time. Twenty years ago, American muscle cars and reliable Japanese cars plus reputable German, French and Swedish cars and even newbies from South Korea were selling like hot cakes in the Chinese market and each and every maker made a fortune in China. Nowadays, however, the U.S. has no hope of selling anything to China -- not only industrial products but also agricultural produce which are easily replaced by many other countries around the globe. Now, America wants to ban Chinese EV's on the ground of the, again, "national security" scapegoat when in fact they fear for the future of all American automakers. Fear has also invaded European minds and the Europeans want to adopt the American low-life tactics. Sooner or later, the world will be divided into 2 camps: one that embraces worldwide integration and the other a closed economy that fears competition. The acceleration of the de-dollarization movement will speed up the divide even further, to the point that it may break the world monetary system in half. With the embargoes of high-tech equipment and the bans of all things Chinese from the U.S. market, it is clear the U.S. has lost all confidence in competing with China's technological advancements. And when the U.S. can only rely on the sole excuse of "national security" risk to try to restrict the rise of all Chinese marvels the likes of social media app, electric vehicles, new energy vehicles, battery technology and battery management software, advanced chip manufacturing, quantum computing, space exploration and AI robotics, etc., it is plain the U.S. has surrendered to China. The decline of the empire will accelerate along with the unstoppable de-dollarization effort mandated by an expanding BRICS. The destruction of the international supply chain by the U.S. forced China and many other countries to develop their own industrial base and the U.S. only has itself to blame for its own demise. Perhaps the coming "collapse of China" can somehow soothe the overwhelming anxiety of the West?
At one time, China closed & isolated itself from the world. Today it is open & the world happily embraced them. Will the USA & West close & isolate themselves from China & the world tomorrow ? Looking like it's the path they are tracking towards ... The Western world comprises only 12 % of planet earth. Would the rest of the world miss the 12 % or live happily & harmoniously ever after ?✌️
The difference between a confident nation open to cooperation with the outside world vs a crumbling empire gripped with paranoia struggling to maintain its fleeting hegemony
KFC has 10000 outlet stores in China. China can ask KFC to sell it's secret recipe and divest to Chinese firms or it will be ban. So both can play the same games.😅😂❤
If they buy the franchises, they just get the supplies, they don't get the keys to the kingdom. That's how it would work if they made KFC divest in china. Second, I think it's funny that you guys are so thinking that they would force all of our businesses out of China if we band tiktok. But this has been going on for years. So why is tiktok so important to China ? It's not like they allow Facebook or Google to operate in their country. Yet we allow tick tock. So why is it so important to China to keep this? And when bite Dan says that China doesn't have any control, why is Big brother China standing up for the company called bite dance when it comes to having to pull out of the us? I've never seen China sew up in arms when it comes to losing a marketplace inside of our country. That's because they're using it to do exactly what our national security is telling you.
@@desmondho9567frankly it would be better for KFC to use whatever recipe they’re using in China in their US stores. The KFC in China is head and shoulder better than KFC in US.
They do the same thing even to their allies. Remember Alstom (french power and transportation company) which was forced by the US govt to sell the bulk of their assets to GE.
The French loves to think they are superior to the US but they are just another puppet and subservient. Did the govt fight back on Alstom? What a pity. same as the Japanese, got bombed by in WWII and today it’s becoming a puppet mouth piece
not only banning BD itself the congress is trying to pass the law banning american public to use / invest BD through VPN globally, and u will be charged and in jail if caught
@@ritaawudey4451right. American politicians will now determine what Americans can or cannot use and access. It can happen to tiktok then it can happen to any other products eventually. Good luck with freedom and rights!
They don't need to prove anything in a quart. This is happening in the legislative branch. Where do people like you come up with your information? Tick tock? Because the Congress doesn't have to prove allegations to pass a bill and the president to sign into law. While that law must pass our legal challenges, they don't have to take anything to court. And if it comes down to the law not working with their needs, they will change the law. Anybody that's ever graduated the 12th grade, actually knows this.
Doesn't have to be Chinese wife, east Asian looking wife like Japanese & South Korean would feel the heat too. It's not like they can differentiate them by looks.
TikTok in the US is as much security risk as IPhones or Tesla cars in China. It is unlikely that Bytedance would sell TikTok. US government can shut down the company within its borders. It can relocate its servers to another country and US users would continue to be able to use the app. It’s such a popular platform with an enormous number of loyal users that they would use it even if it means going through a VPN. US government would be better off allowing TikTok to operate in the US so that regulators can monitor and restrict its collection of user data.
I tend to disagree. TikTok has network effect in the minds of its users. Phones and cars are ultimately just utilities. TikTok is the US is as much security risk as Facebook in China, which was obviously banned since day one in China.
@@grantliu The contentious point is not what's posted on TikTok, but the fear that TikTok would collect user data and give to the Chinese government. Many of the contents on TikTok are shared on RU-vid, Instagram and Facebook. Apps on Iphone and Teslas currently also collect and in fact sell this data to commercial entities. There's nothing to prevent the US (or foreign) government from buying or accessing this data.
@@grantliuFacebook was not ban in China, she refuse to comply with China’s laws of chinese data not interacting with the outside world. They were arrogant. All apps in China comply with that law that is why chinese apps have an international version and a chinese version.
That's standard stuff to shut some one up when the answer is not what she wants to hear. But when the answer is what she wants to hear, he can talk as long as he wants.
Lets put it this way, the US advocates for free trade (whether they walk their talk or not is another matter). If tiktok stand firm and forced to shut down, it publicly admit to their protectionism in trade. The whole world will have a reason to move away from the USD system and build a multipolar world undermining the influence of USD which is one of the pillar of strength that support the US hegemony for decades. Strategically spending billions on the Chinese side to erode the US hegemony bit by bit worth the money. Lets not forget companies that earn big revenue in China in which they can retaliate, Tesla, Apple, Dell, HP, Cadillac, Buick and most importantly BOEING with legitimate safety concern.
@@EbuzzNYC the big difference here is Google refuses to adhere to chinese laws to operate in china while tiktok follows american laws and is targeted because it's a chinese company. lol btw, american companies that follow chinese laws can and are operating in china right now, i.e. microsoft bing, etc...
@@EbuzzNYCgoogle is not blocked. Google chose not to operate in China as it did not agree with the data privacy laws. Tiktok on the other hand complies with US data laws and yet it is getting banned.
I'd be more curious about who in Congress would stand to benefit financially from this policy. After a TT ban, Meta would certainly see a boost in value, and there are several members of Congress who own Meta stock.
Wow, I’m loving these commentaries written by everyone. I want to see these on all the CNN, Reuters, mainstream media channels! This is real free speech not the mainstream censored ones
Strategically it makes sense for TikTok to not sell and force the ban to happen. If you think about it, TikTok is not only popular in the U.S, its popular around the world. If TikTok sells to U.S they will lose the rest of the world, if they just hold their ground and make U.S ban them. They will only lose part of the U.S market (other techies can still find work arounds). If you account for the bad PR the U.S got all around the world, its clear this is not the best move. I think the problem is the people behind the ban didn't really have a good strategic thinker on their side. This is what happens when you only focus your talent selection to people "you like". This is very simple second order move, total strategic miscalculation. The smarter move should have been hiring and poaching the talent from TikTok and compete with a better product. All this crap about being a Chinese company is border line racist and ineffective. Which, coupled with western media's long standing tradition of humiliating Asian men, this will only turn Asian allies against the U.S on the most base human level. I think the memo every Asian men from the media is pretty clear. If you net everything this is was a bad move, they should have hired a good strategist.
United states has the biggest market and biggest advertisers. You can say China and India has more people but one American has a greater net worth than 10 Chinese/Indian people
@@briantep458 True. But being force into a sell set a bad example for Chinese firms and encourages other western countries to push for a force sell of TikTok and other Chinese companies businesses. The best option is for TikTok to accept the ban and walk away and focus on markets in the global south. Yes, today, the US has a greater market power. But in 10-20 years, Asia will have higher market power than US and Europe combined.
@@frankiedehockie the right thing to do is to ban the app in the states and keep it operating as a Chinese company. What the US govt is trying to do is a bit sleezy in my opinion. They can complain about the algorithm all they want, but the truth is that our youth is consumed by degeneracy/hip hop culture. That is no one's fault but America's own.
For both sides of congress to pass a bill so fast while they can't even agree on anything a lot more serious, there's some serious money to be made by the politicians and their backers , like Menuchin 😮
The right thing to do is coming up a new law on social media and apply to all platforms like TikTok, Meta, Instagram, etc. Trying every means to hurt your main competitor in a race does not means you will eventually win that race!
Would you imagine the Chinese ban all the U S companies in their territories, like Wal Mart, Costco, McDonnald, Starbux, Nike, Intel, Microsoft, Apple, Tesla and many other U S companies ?
It is win-win for ByteDance shareholders. The entire BD has operating profit of $28bn in 2023 but recent market value was $230bn, so 8x OP, while the US ops is barely breakeven. If TT got sold for $50bn it is free money cos OP remain the same. If TT got banned it cleared an IPO hurdle BD value could jump 50% in an IPO.
Your calculation is wrong because if you sell it would be entire TikTok not just the US part. Very difficult to break down into just US part and international and US market accounts about 15% revenue currently so it’s much profitable if they don’t sell.
@@ritaawudey4451 India is a puppt for the USA, and what other social media platforms are indians left using ? US ones Facebook, Twitter, Snapchat and Instagram. The US is jealous that TikTok is the biggest social media platoform and its not owned by an America. they cant control what people see , also alot of people are waking up to what Israel has been doing all these years.
I'm baffled that this host is so naive as to think that "the Chinese will say they'd rather shut it down and burn it down than allow American politics to tell them that ......" What I can say is that if the US goes ahead with the bill, Bytedance will shut down 100% of its US operations, which as this investor said is a small part of Bytedance's business.
Lol she’s delusional 😂 as a non westerner 90% of the world lives outside it people are literally rolling on the ground laughing y’all are so funny read a history book especially like the last 100 years and ask the global south who they think is a “national security risk” 😂
What good is the US dollar if they cant buy anything from China who is the largest menufacture in the world. Thats the best way to self destroy the dollar. Money doesnt mean anything if you cant purchase goods.
Because China made everything the United States needed, including the American debt, China saved the United States, and the United States only wanted to let 1.4 billion people die in China.
Exactly. If it truly were a national security issue related to China, they wouldn't be tackling it on one matter, but a million different ones. However, a lot of Fortune 500 companies do business in China and if Congress gets on their bad side, they lose out on a lot $$$ from the lobbyists.
60% of the company (ByteDance) is western, 20% the 2 owners, 20% the employee's. The Company itself is somewhere in the Carribean, HQ in beijing. The company itself is infact not even chinese if you look at it. TikTok US is "controlled" and "audit" by Oracle and located in Oracle's datacentre
That's not how that works. You realize a Chinese government official is on the board right? Just because its hosted on oracle doesn't mean they don't have access to every bit of that info. The app itself has had known back doors and access beyond what's listed in the TOS. Information security experts have known this for years. The US government is finally taking them seriously.
@jamesg.6906 let s put it this way, if a US official is on board of Microsoft, does it mean he has absolute access to all data stored in Microsoft even if the server is located in China? To insist chinese government has access to everything is not that different from saying Pentagon has access to everything stored on Facebook, apple, Microsoft etc.
@jackjhmc820 if they are on the board in an official capacity, YES that's cause for concern! 😂 The US has to abide by our privacy laws. China doesn't. Americans have legal protection against the stuff you mentioned. ByteDance is bound to the Chinese government on a fundamental level. Meaning they will comply when the CCP asks for your info. Just say you have 0 experience with compliance regulations and move on. Because some of us understand the implications of what this means for data privacy. Having ByteDance sell even a portion of their business to an American owned company means they will have to comply with our laws. They are willing to sacrifice the US market because their main souce of income is the sale of user data. If they had to comply with privacy laws, most of that income would be gone.
Well that is always the case and part of the agreement to use the software. Your Operating system would send data to their parent company as for future improvement. That is the polite wording of being spied on
Banning TikTok in US is a huge loss for many Americans, not only because many of them may, as a result, lost their jobs, money, but also they will lose a channel to let them know the real world, they will go back to a society whose media is tightly controlled by the government or interesting groups.
One thing people forgot is Bytedance has big presence in China as well as in other parts of the world. Fb/Meta has zero presence in China. If Meat is valued at 1.x trillions, Bytedance should be valued more.
Meta and other U.S companies have no presence in China because they do not abide by Chinese law regarding data use. China does not allow any company to pass on user data. Google were fined 1.2 billion dollars by the E.U for passing on user data to U.S entities.
@@ABanRocksYeah tiny part of the world but huge buying power and everyone knows it. Losing the US is the equivalent of Apple losing the entire Chinese market
@@Wongseifu548 Bytedance is behemoth in China, tiktok is a very small share of their revenues. It can hurt your pride as an american but that's the reality...
@@Charles-qe7kcTrue but if thats really the case why battle in the US anyway. You really need to worker harder for your 50 cents especially since your fake user name is pretty obvious
What I don't understand is why can't the US regulate Chinese tech companies the same way China does with US tech companies in China, such as Apple? Is the US that incompetent?
I can predict years from now when everyone forgets about the app and the ban also moved on people will start making videos about this and say remember TikTok and the ban where everyone got upset about it and stuff
He should start the Tiktok United Front (all 170 million American tiktok users) to demand that their Tiktok not be banned or 170 million votes will not go to the Dems.
