JOY REID: It feels --I have to say- I'm sorry, but it does feel like this is an attempt to enrich some already rich American billionaire that just wants Tik Tok. Because my question is: what is the difference in the algorithmic threat of this site versus Telegram, versus Facebook, versus Discord, versus X, Twitter, all of them have algorithmic problems and dangers, right? Why is Tik Tok being singled out when they all have the same algorithmic issues and issues of disinformation?
BRIAN CHEUNG: When we talk about data and disinformation, misinformation, it is certainly the same at a Tik Tok as it would be at a Facebook or an Instagram or X or Twitter, right? But the concerns that at least lawmakers cite with regards to this is with the Chinese ownership through Bytedance, that company that owns Tik Tok. But, yeah. You're right. There are certainly a lot of billionaires that have stakes in all these social media apps. And when we talk about Bytedance, you look at Jeff Yass, for example. He is a billionaire who has a 7% personal stake in the company Bytedance and then his investment firm, Susquehanna, has a 15% stake. So, they have a vested interest, as I'm sure other investors do, in seeing how this story plays out. Because they have a financial stake attached to it as well, which will create some interesting undercurrents in the lobby.
REID: Just to be clear. I’m sorry. Not to interrupt you. So you're saying that an American billionaire owns some of this company. So it's not wholly owned by China, right?
CHEUNG: Well, I mean, of course the company is based in China. It's based in Beijing, Bytedance, at least. But there are investment stakes that come from a number of shareholders which can include in some cases Americans as well.
REID: Aha. I smell a rat. We're going to keep talking about this. Brian Cheung. Thank you very much. I’ll see y’all on Tik Tok. Follow me please on Tik Tok at Joy Reid Official. And we’ll be right back. Ahahahaha!