The Idea Of US Govt. “Owning” Part Of TikTok Is Likely A Non-Starter…

The manifold Constitutional and antitrust issues it would create are simply. . . not things Tangerine 2.0 is capable of comprehending. [Moreover, Xi almost certainly won't allow it.]

But in a perhaps mostly whimsical effort to "square the circle", here -- an entity (appropriately!) called Perplexity has tonight revised its prior longshot bid to provide that, once it has raised $300 billion in an IPO(!). . . it would transfer non-voting stock to the US government equal to a 50% ownership interest stake.

I assume all this is at least partly whimsical, given that the company is a start up -- and mentions a $300 billion IPO, as a condition to meeting Tangerine's request. Honestly, even Tangerine is not that naïve… Perplexity will never be valued in a way to allow a $300 billion IPO.

Here's what is known -- about this likely publicity stunt of a "bid":

. . .U.S. search engine startup Perplexity AI has revised the merger proposal it had submitted to TikTok's Chinese parent ByteDance to create a new entity combining Perplexity and TikTok U.S., a person familiar with the proposal told Reuters on Sunday. . . .

The U.S. government would own up to half of the new structure once it goes through an IPO of a valuation of at least $300 billion. . . .

Okay then. What it lacks in serious rigor, it more than makes up for… in entertainment value, I guess. Onward, to a sunny Monday morning in the markets, then. Grin.

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