“We have to break the model”: The Investor Shark Tank’s Kevin O’Leary Wants to Partner With to Buy TikTok Has a Radical Plan for the Chinese-Owned Platform
Kevin O’Leary, known for his no-nonsense approach on Shark Tank, is making headlines again. This time, he’s teaming up with Frank McCourt, a businessman with a track record of bold moves, to take on TikTok. The duo is eyeing a massive opportunity to reshape the future of the popular platform, but their plan is far from conventional.
With the ongoing controversy surrounding TikTok’s Chinese ownership and concerns over data privacy, O’Leary and McCourt have a radical vision that could change the way social media works – if they can pull it off.
Kevin O’Leary and Frank Mccourt plan to save TikTok with a new approach
One of the world’s most popular social media platforms TikTok is facing an uncertain future in the United States. Concerns about data privacy and its ties to its Chinese parent company, ByteDance, have led to threats of a nationwide ban. In response, Shark Tank investor Kevin O’Leary and entrepreneur Frank McCourt, founder of Project Liberty, have teamed up to buy TikTok’s U.S. operations and transform how it works.
In order to do this, McCourt has presented the idea to put users in charge of their data. He detailed the same during an interview via Forbes and added:
We have to break the model or evolve the model into one where it returns the control, the agency, the choice, the ownership, and the rights to individuals.
They plan to replace TikTok’s current algorithm with one that lets users decide how their data is used. If they agree to share their data, they will earn a share of the advertising revenue it generates. On the same subject, even Kevin O’Leary highlighted this during an interview on The Big Money Show via Fox Business and said:
If they do share it, and they want to monetize it, they get a piece of the advertising action. I think that’s fantastic.
Their plan doesn’t stop here, and they want TikTok to work seamlessly with other platforms, allowing users to share content across apps like Instagram and X. O’Leary believes this will rebuild trust and attract millions of new users. However, the deal depends on ByteDance agreeing to sell and a decision from the U.S. Supreme Court.
Despite these hurdles, McCourt detailed in the same interview with Forbes that he remains confident in his plan. He believes that by keeping the platform alive without relying on the current TikTok algorithm and avoiding a ban, millions of Americans would be able to continue enjoying the platform. Their proposal is not only about saving TikTok; it’s about creating a new, user-first model for social media.
Kevin O’Leary on why he doesn’t believe in early retirement
Kevin O’Leary’s journey to early retirement didn’t lead where many might expect. After selling his first company at age 36 and achieving financial success, the Shark Tank investor chose to retire. But the experience didn’t bring the satisfaction he anticipated. He shared in an interview via Yahoo!:
Working is not just about money. People don’t understand this very often until they stop working. Work defines who you are.
O’Leary’s view is that work offers much more than just financial security. For example, working longer can increase Social Security payments, but the social benefits are equally significant. Not only this, but he also highlighted how staying active in the workforce can contribute to better mental health and a longer life.
Despite the growing trend of early retirement, especially with the rise of the FIRE (Financial Independence, Retire Early) movement, he stands firm in his belief that work is essential. Many Americans want to retire before 62, especially after the pandemic made people rethink their lives.
However, O’Leary disagrees with the idea that working less leads to a better life. He believes work offers more than just money. It gives people purpose, helps them build relationships, and can even lead to a longer life.
This post belongs to FandomWire and first appeared on FandomWire
