Money Talks: Can Oracle see TikTok’s future?
Money Talks from The Economist
The Economist
4.4 • 1.2K Ratings
🗓️ 15 September 2020
⏱️ 24 minutes
🧾️ Download transcript
Summary
After Microsoft's takeover bid was rejected, a new deal with Oracle, a big software company, could allow the Chinese-owned social-video app to continue operating in America without a sale. The wolf, the diamonds and the foreign minister: why the biggest luxury-goods deal in history, LVMH’s purchase of Tiffany, has been put on ice. And covid-19 is putting capitalism to the test—which market models come out on top? Rachana Shanbhogue hosts.
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Transcript
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| 0:00.0 | Ticock's fortunes have changed again. Has Oracle seen its future? |
| 0:10.0 | You're listening to Money Talks on Economist Radio, a weekly podcast on the markets, the economy and the world of business. |
| 0:17.0 | I'm Ratch Nachanbogue, the Economist Finance Editor, and coming up, a diamond in the rough why the biggest |
| 0:25.2 | luxury goods deal in history has been put on ice. You know LVMH is an acquisition |
| 0:29.6 | machine it needs to be seen as a good home for companies. It wants to snap up and there are lots more out there beyond Tiffany. |
| 0:37.0 | And COVID puts capitalism to the test. We find out which market models come out on top. That sort of radical |
| 0:44.5 | innovation which is well rewarded by the system is exactly what these |
| 0:48.0 | sort of economies tend to be good at. President Donald Trump had threatened to ban TikTok from operating in America |
| 1:00.6 | if it wasn't sold by mid-September. |
| 1:03.0 | We're looking at Tik-Tok. |
| 1:04.2 | We may be banning Tik-Tok. |
| 1:05.8 | We may be doing some other things. |
| 1:07.9 | There are a couple of options. |
| 1:09.7 | He argued that the popular Chinese-owned social video app was a threat to national security, which |
| 1:14.9 | Tiktok's parent company, Bight Dance, denied. |
| 1:18.6 | But on September 13th, Bight Dance rejected the leading takeover bid from Microsoft. |
| 1:23.3 | Now Stephen Munuchin, America's Treasury Secretary, has confirmed that a new deal is on the table. |
| 1:28.8 | We did get a proposal over the weekend that includes Oracle as the trusted technology partner with |
| 1:35.6 | Oracle making many representations for national security issues. |
| 1:41.8 | A partnership with Oracle, a big software company, could allow TikTok to continue operating without a sale. |
| 1:48.0 | So the Oracle deal, the most important thing about it, it does not fit that demand of a full sale of |
| 1:54.4 | tech talk. Tamsen Booth is the Economist technology and business editor. The |
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