carolyn: frank mccourt, project liberty founder and chairman.e are discussing your potential bid for tiktok if indeed it is to be sold and that is a big if. all of this sounds philanthropic. do you not want any money back if you will be raising billions of your own potentially on the line here? frank: it's interesting that it sounds philanthropic to you. i think it has the potential of being one of the biggest impact projects of our lifetime. but this has to have commercial components to it to be realistic. it can't be some alternative internet that is better architected, healthier for people, but no one uses it. caroline: will it be appetizing? is it subscription-based, how will you make money back? frank: all the above. once you unleash the power and the innovation and the invention of a data economy, we are going to see ideas and models that far exceed what we have today. right now, all of this is tied up in just a few platforms. let's unleash the innovation of everyone and have the value sharing proposition be a bit different. of course, the

also frank mccourt, who we're having this chat with to celebrate our fight. don't forget our biggest fight outcome from court is civic entrepreneur and executive chairman of mccourt global along with for our partners for today the founder and executive chairman of project liberty, which is a far reaching effort to build an internet where individuals have control over their data, a voice, and how operate and more access to the economic benefits of innovation. he's also the author of as you see it, our biggest fight reclaiming liberty, humanity and dignity in the digital age. so please give a round of applause to both of them during coming up. but you're really going to start it before frank and jennifer. i want to set the stage. yeah, one vote because. you know, i wish we had born to run or something like that we could cue, but we'll get that for time. so a lot of great comments that you'll see if you go to our biggest fight a dot com one of them that really struck me was from bruce springsteen because he love bruce springsteen. he calls it a timely call to arm

coming up, we have frank mccourt, jr. he joins bloomberg tech next.." i am katie greifeld, and this is bloomberg. ♪ you know what's brilliant? boring. think about it. boring is the unsung catalyst for bold. what straps bold to a rocket and hurtles it into space? boring does. boring makes vacations happen, early retirements possible, and startups start up. because it's smart, dependable, and steady. all words you want from your bank. for nearly 160 years, pnc bank has been brilliantly boring so you can be happily fulfilled... which is pretty un-boring if you think about it. people couldn't see my potential. so i had to show them. i've run this place for 20 years, but i still need to prove that i'm more than what you see on paper. today i'm the ceo of my own company. it's the way my mind works. i have a very mechanical brain. why are we not rethinking this? i am more... i'm more than who i am on paper. >> from the heart of where innovation, money and power collide in silicon valley and beyond, this is "bloomberg technology" with caroline hyde and ed lud

to buy the app, including former trump treasury secretary steve mnuchin as well as billionaire frank mccourtr of project liberty, aiming to reshape internet ownership. i spoke to him about his bid to buy tiktok. frank, we know tiktok is incredibly popular, more than 170 million users in the u.s. it is obvious why someone would want to buy it, but what would you plan to do if you were to buy tiktok? >> the user base is fantastic. we want to see tiktok continue, however, we think it is the architecture that tiktok currently uses, which is one that scrapes our data and aggregates it and then applies algorithms to feed us things and manipulate us. in the case of tiktok, there are these 1 million americans, our data is being shipped over to china, which is also a national security threat. our idea is to keep it alive but move the user base over to a new version of the internet where each user has control of their identity, control of their data. they get all the benefits of the current tiktok without the damaging architecture. sumi: let's talk about that architecture, because it is the recommenda

risks, charges, expenses and more in prospectus at invesco.com >>> semaphore is reporting that frank mccourtre on this story, let's bring in ben smith, co-founder and editor in chief of semaphore. this is true. this is what mr. mccourt said, tiktok presents the best and worst of the internet. you could drive like ten semis through best and worst. it would be nice to keep, but at this point it seems untenable. is this a possible answer in your view, a serious one? >> well, i mean, if the government proceeds on a current course, they're going to -- somebody will buy tiktok or it will be shut down and mccourt is one of two people, the other is steve nuken, who are starting to make noise about putting together groups to try to buy it. for mccourt, it is an opportunity to not just buy this company, but try to reshape social media in a way that, you know, would be essentially more open, more controlled by its users, less by its -- less by its owners. a long way from there to the $100 billion or whatever we're talking about that it would likely take to buy it. >> and at this point, china is not sel

also frank mccourt, who we're having this chat with to celebrate our fight. don't forget our biggest fight outcome from court is civic entrepreneur and executive chairman of mccourt global along with for our partners for today the founder and executive chairman of project liberty, which is a far reaching effort to build an internet where individuals have control over their data, a voice, and how operate and more access to the economic benefits of innovation. he's also the author of as you see it, our biggest fight reclaiming liberty, humanity and dignity in the digital age. so please give a round of applause to both of them during coming up. but you're really going to start it before frank and jennifer. i want to set the stage. yeah, one vote because. you know, i wish we had born to run or something like that we could cue, but we'll get that for time. so a lot of great comments that you'll see if you go to our biggest fight a dot com one of them that really struck me was from bruce springsteen because he love bruce springsteen. he calls it a timely call to arm

on the same premise, tiktok may have a lifeline here, tech billionaire frank mccourt announced he's forming a group to try to buy the american branch of the app. mccourt is the former owner of the los angeles dodgers and leads project liberty. that's a group that claims it's working to democratize the internet by making it less reliant on tech giants. well, the messy pac 12 breakup is leading to a big paycheck for uc berkeley. yesterday, the uc board of regents ordered ucla to start paying cal 10 million bucks a year. the pac 12, as you might know, fell apart last year after ucla decided to leave and joined the big ten conference. cal and stanford were left stranded, essentially, and eventually cal and stanford joined the acc. but under the new conference contracts, cal will make $50 million less in media revenue each year compared to ucla. so ucla will be paying cal for the next three years. then the board will decide whether the payments plans will continue. that money is earmarked to support cal athletics, tesla's electric vehicles known to help cut down on gas emissions. but there's a n

. >>> and out moments ago, billionaire tech critic and liberty founder, frank mccourt is vowing to buy better version of the internet where individuals own and control their data. interesting development there. >>> as we get set for futures, which have turned more mixed in this morning's session, you can see the dow is implied higher by 25 points. joining me now is victoria greene. she's a cnbc contributor. let's talk about what you're watching for for cpi today. >> cpi days are always historically volatile, the most volatile day of the month. we're looking at the big thing that's happening. we know fuel prices came up. we're watching food away from home. it's not just the headline number, but where are some of these underlying trends going. super exciting day. big mover day. we saw a lot of bull eric bets come in, a lot in the bull market with the 10-year going down to 4.3. we could see core ease, finally see some progress happening here, and the concerns of reaccelerating inflation and stagflation may not be as big if we get some better trends today. >> how puzing has the market acti

outlook on the fatty where we stand on inflation mccourt global executive frank mccourt junior is hearing lot of snow about his bid to acquire tiktok he put a group together and he wants to buy this company in the 8:00 a.m. hour he will tell us all about it you're watching "mornings with maria" live on fox business without exclusive. stay with us. ♪ (traffic noises) (♪) the road to opportunity. is often the road overlooked. (♪) at enterprise mobility, we guide companies to unique solutions, from our team of mobility experts. because we believe the more ways we all have to move forward. the further we'll all go. israel is under attack. israel has been attacked like never before. our skies are filled with rockets and drones. the international fellowship of christians and jews urgently needs your help to send out emergency teams across the holy land. the international fellowship of christians and jews needs your $45 gift to rush emergency aid to the people of israel who are still devastated from the massacres of october 7. we are bringing food. we are bringing emergency resources to save liv

just finished a book and had a good conversation with the author, frank mccourt. called "our greatest fight," which i recommend. he has bold ideas around restructuring the internet itself, the very fabric of the internet and how it works. to help us, so that we do not just have a very few large due outlays or monopoly-like companies controlling all of this and controlling those algorithms that i think is really critical to this conversation. but i have to say, the answer is truly all about -- truly all of us, and at the local level deciding we are going to make this an issue. so that when you are in a town hall with the candidate and asking them what their position is on abortion or guns, that you are asking them, what are you doing to de-polarize our state or city or school board? what are you going to do to bring people together to solve problems? asking that as a question. and then our hope is, we are trying to change the permission structure to let people know that you can talk about this. the actual language -- tim, i will keep shouting you out, that is somet

frank mccourt, the former owner of the los angeles dodgers, could he put the money together to try to buy this app and even if he does, if someone buys this app questions about whether or not tiktok would remain the same, they would have to sell the algorithm to keep it in its current form. china won't allow the sale of algorithm. they say for national security concerns on their side. very interesting dynamics there. >> thank you. >>> time for today's money minute. a very merry announcement from netflix. >>> cheaper version of life-saving drug is coming to walmart shelves. >>> mortgage demand was unmoved last week even as mortgage rates dropped to their lowest level since april. applications inched up a half of a per cent. now the average mortgage rate is still sitting around 7%. leaving buyers struggling to afford the housing market. >>> netflix will stream its first live nfl games on christmas day the label will host a doubleheader on the holiday, giving the netflix a hold on the most reliable ratings driver in america. we'll learn the matchups tonight when the league drops its 2024

the former dodgers owner frank mccourt says he's putting together a group to purchase tiktok mccourthis organization known as project liberty is gathering some information so we can buy this app from its chinese parent company bytedance. he's proposing to move tiktok to open source platform and the court says he doesn't want tik toks valuable algorithm. a bill signed by president biden last month gives bytedance until next january to sell the company to a 9 chinese owner or it could be banned in the united states. up next to end of the era for a beloved bay area restaurant. >> and thieves target a tesla charging station in the north bay taking off with the charging cables. but first, a group of suspects used a car group of suspects used a car allegedly to break into 2 okay, so here's my most requested hack for stubborn odors. you'll need vinegar, a large salad bowl and... oh, hi! have you tried tide fabric rinse? it works after your detergent to fight deep odors 3 times better than detergent alone. i love that. try tide fabric rinse. ♪ (ominous music) ♪ ♪ (ominous music) ♪ girl: sydn

recruiting investors to help buy tiktok former los angeles dodgers owner and real estate mogul frank mccourtto purchase the platform's u.s. business. mccourt says if the sale is made, he plans to restructure the app to give users more control over their data. the announcement comes after tiktok's parent company and several users filed lawsuits to block a federal law that could ban the app in the us within a year. the annual contra costa county fair just got underway in antioch. today's entertainment includes a pageant to crown a queen of the fair, along with all the good usual fair food, games and exhibits. tickets for today are just $1 for the rest of the weekend. admission is $12 for general admission, $8 for seniors, $5 for children, five and five and under, by the way, are free. and it's nice out there in antioch. you won't be sweating it out today. thank you for joining us today at noon. you can stream ktvu news on your smart tv and get storie (upbeat music) - [tammy] can you guess what this is? ♪ hey hey hey ♪ if you guessed paintbrush, then you'd be a great contestant on "pictionary."

also today we are honored to have frank mccourt here, such a great pioneer, he is at with his book, our biggest bite, which we were honored to debut at sxsw last week. frank is an optimist, has great ideas about how we can improve tech and he is here he and project liberty are here along with our new president, we appreciate you being here, they are going to, frank will be signing books in the upstairs lounge. we appreciate project liberty and thank you very much to you and your team for being here to tell us more about our biggest fight, reclaiming liberty, humanity and dignity in the digital age. and as blurbs go, it's a little tough to top this bruce springsteen, the boss calls this essential reading, essential readings for our times. >> i have a few logistics for us all to give you a sense of how the day is going to go. to provide you a quick rundown of the afternoon, we are going to have a short break in the middle of the programming today, so be sure to make it back here in time once that's over because we have a full slate of grammy after the break. otherwise, you're welcome to s

former los angeles dodgers owner and real estate mogul frank mccourt says he's putting together a groupo purchase the platforms. us business mccourt says if the sale is made, he plans to restructure the app to give users more control over their data. the announcement comes after tiktok's parent company and several users filed lawsuits to block a federal law that could ban the app in the united states within a year. >> our time now 747, in las vegas, an iconic hotel in the vegas strip closing its doors for good this summer to make room for a 700 foot guitar shaped tower, the mirage hotel and casino officially closes july 17th so the work crews can start transforming that property into the hard rock hotel and casino. that new hotel will feature a guitar soaring above the heart of the vegas strip, about 3000 hotel employees are being laid off, but hard rock officials say they're paying about $80 million in severance packages and jobs will be offered to laid off employees once the hard rock las vegas hotel opens in 2027. it is 748. walmart reported a very strong quarter and a surprising inc

real estate billionaire and former dodgers owner frank mccourt says he plans to build a consortium.expresses interest in buying the platform including steven mnuchin and former google ceo derek schmidt. whether any of them can buy tiktok is a different story. bytedance has it has no intention of selling the asset. jonathan: that is a minor detail. we will catch up with dani again in 30 minutes. coming up, the morning calls before we set the stage for cpi and retail sales. from new york, this is bloomberg. ♪ jonathan: here is the state of play going into cpi and retail sales. equities a little bit negative. the emphasis on a little bit. we are down .2%. -- the 10 year 4.4159. morgan stanley resuming coverage of exxon mobil. overweight. seeing attractive growth after the acquisition of pioneer. jp morgan upgrading ne-yo to neutral come expecting shares to benefit -- upgrading nio to neutral. bernstein upgrading general mills to market perform come expecting a stronger second half of 2024. we are looking ahead to cpi in retail sales. ed yardeni is back with us. we have been talking abo