Latest news with #FrankMcCourt
Entrepreneur
6 days ago
- Business
- Entrepreneur
Frank McCourt Jr. Interview: Why I Want to Buy TikTok
Frank McCourt Jr. says buying TikTok would help him bring the U.S. one step closer to a new Internet. Here's what he envisions. TikTok's algorithm has been infamously called "addictive," with research finding that it is "highly engaging and emotionally rewarding in nature," which has led to compulsive (and lucrative) user numbers. It's also why the algorithm is a main point in the ongoing saga of the app potentially being banned in the U.S. if it isn't sold soon. But billionaire Frank McCourt Jr., 71, tells Entrepreneur in a new interview that he and his business partners are "completely ready to buy TikTok" — and they "don't need or want the algorithm." The former L.A. Dodgers owner and investor, who's worth $2.4 billion, said that China has "made it very clear" they're not selling it. "So we're in a good position if there is a transaction," McCourt said. Related: Emma Grede Dropped Out of School at 16. Now the Skims Boss Runs a $4 Billion Empire — Here's How. After last year's law passed requiring TikTok to separate from its Beijing-based parent company, ByteDance, or face a permanent ban in the U.S., the potential to own TikTok has attracted a slew of interest from notable people and companies. (After multiple extensions, the new deadline is June 19.) McCourt announced his $20 billion offer for TikTok in May 2024, calling it The People's Bid for TikTok. He made the bid through Project Liberty, the $500 million initiative he founded in 2021 that focuses on creating a better Internet by giving users control over how they share their data. Over time, other public figures joined his bid, the most notable being Shark Tank investor Kevin O'Leary in January and Reddit co-founder Alexis Ohanian in March. But so far, there haven't been any updates. "We're on standby," McCourt said. Other bidders for TikTok include AI startup Perplexity, Oracle co-founder Larry Ellison, mobile advertising company AppLovin, and Amazon. McCourt said O'Leary called him after talking to all the potential bidders and determining that The People's Bid was ahead of the rest. Ohanian connected with McCourt through a mutual friend, and also ended up publicly backing the bid's mission. Frank McCourt Jr. Why Frank McCourt's Bid for TikTok Is Different McCourt is working towards creating a new Internet, and TikTok is a stepping stone to get there. McCourt's bid is focused on the social media app's 170 million users. He wants to migrate those millions of people and their data over to an open-source platform that both preserves TikTok's user experience while also using an American-built tech stack. The basis of this platform is called the Decentralized Social Networking Protocol (DSNP), which Project Liberty developed and first made public in 2021. DSNP stores individual data in a profile that a user can transport across a network of social apps. Users on the platform can take their connections and content, their personal data, from one DSNP app to another and dictate the terms of its use. "We're advocating for a new, better, advanced Internet where individuals own and control their identity and their data," McCourt said. "We're in charge, and our social information is ours to share with others as we see fit." Right now, the only social media app that uses DSNP is MeWe, which has more than 20 million users globally and began offering members the option to sign in with DSNP in September 2022. Now, McCourt wants to bring the protocol to TikTok's 170 million users as well. "We need to scale DSNP for it to be a true alternative, and that's what TikTok would do," McCourt said. McCourt outlined a future where social apps will be interoperable, and users will be able to tap into their network no matter which social app they are logged into. So, someone on MeWe could talk to someone on TikTok, or share a link with them without logging into an account just for that one specific app. Related: 3 Simple Steps to Start Making Money on TikTok McCourt compared the situation to how phone numbers are now interoperable. A person using AT&T can call someone on Verizon without worrying about whether their call will go through. "Imagine an Internet where that's the case, where you can be on one app and I could be on another, and we'll be able to share information," McCourt said. McCourt noted that gathering $20 billion for the bid was "quite easy" because "people saw the value" of the offer. And if The People's Bid doesn't end up being selected, McCourt isn't ruling out developing a competing social media app. "We may," he said. "At some point, we just need to move forward."
New York Times
27-05-2025
- Entertainment
- New York Times
Presenting the Dodgers' All-Quarter Century Team, the best in Los Angeles since 2000
Editor's note: The Athletic is marking 2025 by naming an MLB All-Quarter Century Team, selected by Jayson Stark. We're inviting readers to take our survey and make their picks for the best players at each position since 2000, with the results announced in an upcoming story. Some of our beat writers are picking All-Quarter Century Teams for the teams they cover. Check this page to find all of our All-Quarter Century Team coverage. Advertisement It wasn't always the so-called 'golden era' of Los Angeles Dodgers baseball. The days of boycotts and Fox and the inner details of Frank McCourt's ownership of the club defined a certain generation at the turn of the century. Then Guggenheim Partners entered, infused the franchise with cash and helped turn the Dodgers into a behemoth that spurred talk this winter about how they'd ruined the sport. All of that within 25 years. The last five years alone have produced two World Series titles. The last time the Dodgers missed the postseason, Dee Strange-Gordon was their leadoff man on Opening Day. When filling out the roster for the all-time Dodgers team from the last quarter century, it should be no surprise that most players are from modern day. It's a ridiculous collection of talent, which makes for some interesting debates and a fun exercise. Surely, no one will be upset with how this turns out. (Right?) (* Currently with Dodgers) WAR leader: Freddie Freeman (19.8*) After 12 seasons with the Atlanta Braves that seemingly cemented a future statue outside of Truist Park, Freeman never expected to play anywhere else. But he's kept on rolling in L.A., producing multiple MVP-caliber seasons and emerging as a vital presence in the middle of a stacked lineup. In October, he joined the short list of Dodgers postseason legends. He tore ligaments in his right ankle in the final week of the regular season and ultimately required surgery. He swung in agony the rest of the playoffs after tearing rib cartilage. When the Dodgers won the NL pennant, Freeman was on the bench. Then Freeman made history by becoming the first player in the World Series to hit a walk-off grand slam with a shot (and a pose) off of Nestor Cortes in Game 1 against the New York Yankees that might be his defining image on a baseball field. Freeman slugged three more home runs in the series and put together an integral at-bat in Game 5 against Gerrit Cole en route to World Series MVP honors. Advertisement The longtime Brave had created a new legacy. 'That's the nicest thing you ever can say: He feels like a Dodger, he looks like a Dodger, and then, he's a Dodger,' said Fred Freeman, the player's father. There's a case to be made for Adrían González, whose acquisition signaled the start of this Dodgers era of spending. In trying to find a place for Cody Bellinger, first base was a possibility. But this is Freeman's spot. WAR leader: Gavin Lux (7.8) Is this cheating? Probably. The Dodgers have had a glut of great outfielders since 2000, and second base has been a moving target. Trea Turner, a future $300 million shortstop, once started a postseason game at second base for them. Betts has played more games at shortstop for the Dodgers than he has at second base, which is one of those things that feels off even if it's true. But if the Dodgers want to praise Betts for his versatility and ability to move to the infield each of the last three seasons, then that means he can play there on this roster. Acquiring Betts was in many ways Andrew Friedman's white whale. The Dodgers tried for superstars in the latter part of the 2010s, to no avail. Gerrit Cole spurned them after the 2019 season. So did Anthony Rendon. Just before spring training, however, the Dodgers sent Alex Verdugo, Connor Wong and Jeter Downs to the Boston Red Sox for Betts, David Price and cash. That October, amid a pandemic and in an artificial bubble in Arlington, Texas, Betts helped the Dodgers win their first World Series title in 32 years. He's already spent as much time in a Dodgers uniform as he has for the Red Sox, with two rings to show for it and three top-five MVP finishes. WAR leader: Justin Turner (34.6) There's a case to be made here for Adrián Beltré, who began his Hall of Fame career in a Dodgers uniform in 1998 at 19 years old at the behest of Tommy Lasorda and authored his finest season (48 home runs, 1.017 OPS, 9.6 WAR) with Los Angeles in 2004. Advertisement But there is no talking about this generation of Dodgers baseball without mentioning Turner's name. Signed to a minor-league deal after interacting with then-bench coach Tim Wallach at a Cal State Fullerton alumni game, Turner had one of the seminal mid-career breakouts of the 2010s. Turner earned MVP votes three times, all after the age of 31. The Long Beach native who grew up listening to Vin Scully became a postseason hero, producing an .830 OPS across 86 postseason games for the Dodgers and hitting the first walk-off home run the Dodgers had seen in the playoffs since Kirk Gibson's in 1988. Turner's was a solo shot in Game 2 of the 2017 National League Championship Series against the Chicago Cubs, 29 years to the day after Gibson's blast. WAR leader: Corey Seager (20.9) The former top prospect in the sport delivered as a unanimous NL Rookie of the Year winner in 2016 and finished third in NL MVP voting that same season, all at 22 years old. He was a certifiable superstar, particularly in the batter's box, capable of torrid streaks that matched any hitter's in baseball. Even after missing most of the 2018 season due to elbow and hip surgeries, Seager found a way to write another brilliant chapter in 2020. A dominant 60-game regular season (.943 OPS) paved the way for an electrifying postseason, as Seager posted a 1.171 OPS en route to NLCS and World Series MVP honors as the Dodgers snapped a 32-year title drought. The Dodgers have certainly had a bevy of shortstop talent, from Seager to Trea Turner to Betts to Hanley Ramirez and a half-season of Manny Machado and more. But Seager is the easy choice here. WAR leader: Will Smith (20.5*) The Dodgers' current franchise catcher will likely have plenty of chances to build on this status after inking a 10-year contract extension in March 2024. He's already separated himself as one of the pre-eminent catchers in the sport since his debut in 2019, emerging as a two-time All-Star with a penchant for hitting with runners in scoring position. As a rookie, Smith learned from Russell Martin (second to Smith on the WAR leaderboards among Dodgers catchers), who was back for a swan song in Los Angeles. Advertisement There shouldn't be much of a debate here over the man who caught the final out of the 2024 World Series, has been one of the best and most consistent homegrown position players of the Friedman-Guggenheim era and doesn't appear to be slowing down his production anytime soon. WAR leaders: Mookie Betts (29.6*), Matt Kemp (23.0), Andre Ethier (21.5) This stacked group of options here also included the incredibly productive Shawn Green (whose father helped craft Freeman's swing, to bring things full circle), a nine-time All-Star in Gary Sheffield, and a pair of outfielders who electrified during their time in Los Angeles, Manny Ramírez and Yasiel Puig. No one resonated quite like Kemp, whose 2011 campaign was MVP-worthy even if it resulted in a runner-up finish: 39 home runs, 40 steals (just shy of what would've been the first 40-40 season in franchise history) and 8.0 WAR while playing center field. Upon returning to Los Angeles in 2018, he enjoyed a renaissance season, emerging as an All-Star and slugging a World Series home run. His No. 27 jersey is still popular at Dodger Stadium. Ethier was a perennially productive corner outfielder, a two-time All-Star and a fan favorite with a sweet swing. His final moment as a Dodger? Coming off the bench to drive in the Dodgers' only run in Game 7 of the 2017 World Series. Then there's Bellinger, who burned brightly for the Dodgers and whose end in Los Angeles came almost as quickly. Bellinger dazzled as a rookie in 2017, slugging 39 homers and forcing his way onto the big-league roster en route to NL Rookie of the Year honors. Two years later, he was the NL MVP, hitting 47 home runs with a 1.035 OPS. That all changed after 2020, when Bellinger hit the eventual game-winning home run in Game 7 of the 2020 NLCS off of Atlanta Braves reliever Chris Martin, separating his shoulder and requiring surgery after the ensuing celebration with Kiké Hernández. Bellinger's career in Los Angeles wasn't the same in the two years that followed, and the team non-tendered him after the 2022 season. Still, 'Belli' resonated in a way few players did. Advertisement WAR leader: Shohei Ohtani (11.8*) There will likely be a dividing point in the history of this franchise: before Ohtani, and after. That's just how much Ohtani has changed the calculus for the organization and the sport, not just with his dominant play but also with the business and advertising dollars that have spawned from his decision to sign a 10-year, $700 million deal with $680 million deferred in December 2023. He is a force multiplier and market changer, infusing even more cash into a team that seemingly is generating more revenue than just about any organization in baseball. Ohtani's production has somehow matched it. He became the first player in baseball history to hit 50 home runs and steal 50 bases in a season, finding a way to make history even when the two-way star wasn't pitching. He's off to a near-identical start in 2025 and is nearing a return to the mound. WAR leaders: Clayton Kershaw (76.3*), Zack Greinke (17.7), Chad Billingsley (17.3), Kevin Brown (14.2), Hyun-Jin Ryu (13.9) The first name on this list and first pick if this were a draft is undoubtedly Kershaw, the iconic left-hander who will enter the Hall of Fame as soon as he's eligible. The three-time Cy Young winner might be the best pitcher of his era and has been 'the franchise' through ownership turnover, through generations and heartbreaks. From his distinctive windup to the devastating slider to the nasty curveball that Scully dubbed 'Public Enemy No. 1,' Kershaw is the Dodgers. The only pitcher to even come near Kershaw's single-season heights is Greinke, who shared a rotation with him and jockeyed alongside him on Cy Young ballots over a dominant three seasons in a Dodgers uniform. His 2015 season, when he posted a 1.66 ERA, is one of the best Dodgers pitching seasons ever. Injuries might have interrupted the middle part of his time as a Dodger, but Ryu's stint in Los Angeles was an undeniable success. He was productive as a rookie, putting up a 3.00 ERA at age 26 in 2013. Even after getting hurt, he returned to fine form and joined the short list of pitchers to wrestle away a Game 1 postseason start from Kershaw with a 2019 season in which he posted a 2.32 ERA and finished second in Cy Young voting. Advertisement Then there's Buehler, the first draft selection Friedman made as a Dodgers executive. Buehler arrived as an edgy flame-throwing prospect who ascended to one of the best pitchers in the sport with the bravado to match. Buehler's postseason resume elevated his status even among his peers on this list. His return last summer from a second Tommy John surgery was ugly. But Buehler bounced back with a vintage October, including coming on in relief to record the final three outs of the Dodgers' 2024 title. 'He went through a lot, but now he's etched in Dodger glory and royalty forever,' Kershaw said that night. Before Yoshinobu Yamamoto signed the richest contract ever for a pitcher at $325 million, there was Kevin Brown, who signed the first $100 million contract with the Dodgers. He'd last just five of the seven years of that deal before being dealt to the Yankees and missed significant time due to injuries, but advanced metrics are certainly high on Brown. Brown was named in the Mitchell Report with ties to performance-enhancing drugs, which makes his selection a difficult one. Yamamoto, in his second season with the Dodgers, appears to be staking his claim as a challenger for the next time such a list gets put together. WAR leader: Kenley Jansen (18.7) When Kershaw made his debut in the Dodgers organization, in the Gulf Coast League in 2006, a Curaçao native by the name of Kenley Jansen was behind the plate. That catcher with a strong arm and a natural feel for a cutter would turn into one of baseball's most productive closers and could have a strong claim to Cooperstown when all is said and done Jansen's 350 saves in a Dodgers uniform included 41 in a dominant 2017 campaign when he finished fifth in NL Cy Young voting and carried a heavy load in relief for a Dodgers team that won its first pennant since 1988. Lapses in velocity and the sharpness of his cutter took him out of favor for some of the Dodgers' 2020 title run, though Jansen rebounded for a vintage 2.22 ERA and 38 saves in what would be his final season with the Dodgers in 2021. For as much as Eric Gagné's brief, electric run defined his era, Jansen's resume is just too much to top. (Top photo of Clayton Kershaw and Matt Kemp: Stephen Dunn / Getty Images)
CNBC
15-05-2025
- Business
- CNBC
Frank McCourt: Project Liberty's bid for TikTok is aligned with U.S. national security priorities
Frank McCourt, Project Liberty founder, joins CNBC's 'Money Movers' to discuss his bid for TikTok, whether TikTok may be a part of trade negotiations, and more.
Yahoo
02-05-2025
- Business
- Yahoo
Exclusive: TikTok bidder calls $600 million EU fine latest example in ‘avalanche of evidence' social media companies control too much user data
Project Liberty, one of the principal bidders for TikTok, said a $600 million EU fine on the platform was further evidence of social media's poor track record of protecting user data. Led by Frank McCourt, Project Liberty has long been an advocate of reforming how social media companies gather data on users. Project Liberty, the consortium of investors led by billionaire Frank McCourt that is bidding for TikTok, said the platform's recent $600 million fine for violating EU privacy laws was further evidence of social media's harmful data collection practices. 'This is the latest story in the avalanche of evidence showing that individuals—not Big Tech platforms—should control their own data,' Project Liberty President Tomicah Tilleman told Fortune in an exclusive statement. Project Liberty and McCourt first announced their bid for TikTok in January ahead of a deadline that would have forced the platform to be sold to an American owner. President Donald Trump eventually extended that deadline, but McCourt's bid and the data security issues surrounding TikTok remain. Earlier this year, the Supreme Court upheld a law forcing TikTok's Chinese parent company ByteDance to sell its U.S. operations to an American company. The law passed because of concerns the Chinese government might have access to U.S. user data, potentially representing a national security threat. On Friday, Ireland's Data Protection Commission, which regulates TikTok because its European headquarters is in Ireland, fined the company $600 million for failing to protect the personal data of EU users from being accessed by Chinese authorities. TikTok allegedly violated the General Data Protection Regulation (GDPR), the EU's strict data privacy law that limits how large platforms can share and store user information. TikTok said it will appeal the charges and denied violating the EU's law. TikTok 'has never received a request for European user data from the Chinese authorities, and has never provided European user data to them,' the company said in a statement. TikTok did not respond to a request for comment about Project Liberty's statement made outside of working hours in Europe. Tilleman sees European and U.S. TikTok users facing similar threats to their personal data. 'Americans and Europeans both deserve digital platforms that are committed to protecting privacy, upholding national security, and putting people first,' he said. Project Liberty and McCourt have long advocated for reforming the internet and specifically social media companies writ large so that collecting user data is no longer the norm. Instead, the group, which dubbed its bid 'The People's Bid,' believes that users should opt in to which data they would like to share with social media platforms. The current version of social media allows companies to collect reams of data about users, which then gets used for targeted advertisements. Project Liberty sees acquiring TikTok and its roughly 170 million U.S. as a means to jumpstart its new vision of the internet. 'The People's Bid for TikTok is the best way to complete a sale and transition the platform to an American-made tech stack that gives people control of their online experience,' Tilleman said. So far, Project Liberty's bid includes support from several well-known investors. Reddit cofounder Alexis Ohanian joined the group in March, and Shark Tank star Kevin O'Leary was one of the original investors. Trump has twice extended the deadline for a TikTok sale since its original January deadline passed. The current deadline is now in mid-June. However, any forced sale, which the Chinese government opposes, could now possibly be tied up in a broader trade agreement between the U.S. and China. This story was originally featured on
Euronews
04-04-2025
- Business
- Euronews
US TikTok ban deadline: 3 scenarios for what could happen next and who might buy it
ADVERTISEMENT Time is ticking for TikTok's future in the United States, as a Saturday deadline could see the video-sharing platform banned in the country. But that scenario appears unlikely as President Donald Trump has teased a last-minute deal to save it. It comes after the US Supreme Court upheld a ruling on January 17 that TikTok was a risk to national security due to its ties to China and required TikTok's parent company ByteDance to sell to a US owner or face a ban in the country. On January 19, TikTok "went dark" for American users as the law took effect, but a day later, when Trump was sworn in he signed an executive order that delayed the platform's sale or ban by 75 days. Related Which countries have banned TikTok and why? TikTok came back online, giving ByteDance more time to find a non-Chinese buyer. But the April 5 deadline is now just days away and there is still only speculation about buyers but no confirmed offers. Here are the possible scenarios for TikTok's future in the US and the potential buyers. Scenario 1: The law is paused (again) Trump cannot overturn the law, but he could put the law on pause again; he has said the deadline could be extended further if needed. The last time he did this was through an executive order, an official instruction from the president. The Supreme Court's ruling said the ban was "designed to prevent China - a designated foreign adversary - from leveraging its control over ByteDance to capture the personal data of US TikTok users". Scenario 2: TikTok 'goes dark' The Chinese government could be willing to close the app in the US rather than agree to a deal. It is generally seen that ByteDance would need Chinese government approval to sell. This would mean Apple and Google no longer allowing US users to download the app and the platform switching off for its 170 million American users. Related 'TikTok refugees' are flocking to China's social media app RedNote. This is what we know about it In late March, Trump said that he could give China a reduction on tariffs if Beijing agreed to a TikTok deal. "Maybe I'll give them a little reduction in tariffs or something to get it done," Trump told journalists in the Oval Office. Scenario 3: A buyer is found The final scenario is the possibility that a buyer is in the works and we see a deal done in the eleventh hour. These could be the possible new owners: ADVERTISEMENT Amazon E-commerce giant Amazon was putting together a last-minute bid, a Trump official reportedly told the New York Times on Wednesday. The official, who remained anonymous, told the newspaper that Amazon had made the offer in a letter to Vice President JD Vance and Commerce Secretary Howard Lutnick. Frank McCourt and Kevin O'Leary Kevin O'Leary, host of the American investor show 'Shark Tank,' and Project Liberty founder and real estate mogul Frank McCourt submitted a formal offer to purchase TikTok in January, alongside other investors. The group has called itself the 'People's Bid for TikTok' as they say they would collect less user data. ADVERTISEMENT Investors in the consortium say they've offered ByteDance $20 billion (almost €19 billion) in cash for the platform. MrBeast and Jesse Tinsley American YouTuber MrBeast, born Jimmy Donaldson, joined a bid with founder Jesse Tinsley, according to CNN. "Our offer represents a win-win solution that preserves this vital platform while addressing legitimate national security concerns," Tinsley said in January. He said the group would include other investors. ADVERTISEMENT "We're prepared to move quickly and have assembled a team with deep experience in technology, content moderation, and platform governance," he added. Perplexity Artificial intelligence (AI) company Perplexity also made a bid in January to merge with TikTok, taking a 50-50 stake with the US government. Related Google's latest rival: What is Perplexity AI and why is it causing so much controversy? In March, the company said its TikTok would include a more transparent algorithm and benefit from Perplexity's AI infrastructure. "A TikTok rebuilt and powered by Perplexity would create the world's greatest platform for creativity and knowledge discovery," the company said. ADVERTISEMENT Oracle Multiple media reports have suggested that the software company Oracle is also trying to buy TikTok. The deal would also come from venture capital firm Andreessen Horowitz, according to the Financial Times, which also said the Oracle bid is one of the frontrunners. Other possible buyers Trump said in January that Microsoft was interested in buying the app, but no official comment from the tech giant has confirmed this. Other interested parties include Trump's former treasury secretary Steve Mnuchin. ADVERTISEMENT Video site Rumble, which is popular with some conservatives and far-right groups, also expressed an interest in buying TikTok last year. TikTok and ByteDance have not publicly commented on a potential buyer.
