
Todd Smith
shared a media post in group #The Most Important Thing
[2023 Prediction] ByteDance finds a way to satisfy national security concerns & breaches $1 TRILLION in value
There are two forces sucking the oxygen from the ad ecosystem: Apple and TikTok. Apple is already a multi-trillion-dollar firm, and I'm bettingTikTok will cut the ribbon on its four-comma valuation this year. At its current $300 billion valuation, TikTok’s parent, ByteDance, is worth more than Disney, Snap, Pinterest, Twitter, IPG, WPP, and the Omnicom Group combined.
The Chinese company took just five years to reach a billion users — three years less than Instagram and four years less than Facebook — and those users spend 100 minutes/day on the platform. When young people are asked to choose between TikTok and all of TV/streaming … they choose TikTok. Think about the last sentence. ByteDance’s network should be banned or spun to U.S. interests, but the parties involved will find an accommodation, as there’s just too much money at stake.
