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Foundering

Coming Soon: A New Season of Foundering

Foundering

Bloomberg

Business, Tech News, Technology, News

4.71.1K Ratings

🗓️ 1 April 2021

⏱️ 2 minutes

🧾️ Download transcript

Summary

The TikTok Story

Transcript

Click on a timestamp to play from that location

0:00.0

I get a call and I answer, hello, and there's this guy in the other end.

0:04.1

Yeah, you emailed my daughter, he goes, she's 12th, and I was like, okay, you know, sorry

0:10.7

about that.

0:11.7

And he goes, yeah, listen, everything's all right, but you got to answer me this one question.

0:16.0

Why does she come home from school and say that she needs a manager?

0:21.9

And I'm like, well, I don't know, maybe it's because she has 900,000 fans on TikTok.

0:26.7

There was a time when most adults didn't know what TikTok was.

0:30.8

If you haven't heard of TikTok, TikTok is the most addicting app in the entire world.

0:36.3

If you get it, I'm warning you, you will be on it for four hours, just scrolling through

0:42.0

your four-year page.

0:43.5

Most people still don't know the real story.

0:46.0

One day I was on Kau Trin from Mountain View to San Francisco, and on that train, there

0:52.4

was a lot of high school students, and I was observing their behavior.

0:57.5

How two mysterious tech founders from China captured the attention of an entire generation?

1:04.0

You know, I think there was some natural skepticism of like, hey, can we trust these guys?

1:09.3

We've had issues in China with intellectual property.

1:12.8

Infiltrated American pop culture.

1:15.1

You identify a couple of whales, you pay them for a certain number of posts and then

1:18.2

sort of a flywheel from there, because, you know, the internet is like high school cafeterias.

1:22.8

The second the popular kids do it, everyone wants to get in.

1:25.3

Went to battle with Facebook and other Silicon Valley giants.

1:28.8

And when I brought up the Chinese internet companies, I think that that's a real strategic

...

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