Former Treasury Secretary Mnuchin: I'm going to put together a group to buy TikTok

Former U.S. Treasury Secretary and Liberty Strategic Capital founder and managing partner Steven Mnuchin joins 'Squawk Box' to discuss the latest developments around a potential TikTok ban, why he's putting together a group to buy the social media app, whether he believes the app poses a national security risk, his thoughts on entitlements, state of the U.S. economy, and more.

[@TheNinestrokes]

So he's lobbied and worked to force a TikTok divestiture ever since he was Treasury secretary, so that he can buy a piece of TikTok. Talk about conflict of interest.

[@ssuwandi3240]

Because a non publisher short duration ads platform cannot pose as a national security threat. The model is very different to other mature media but powerful enough to drive productive traffic.

[@edens7203]

not sure why he needs money when he literally prints it 😅

[@videosandrehome]

Good for him. 🇺🇸

[@philipmehl9355]

Thank you…exactly what I was saying. How shady, and CNBC didn’t even ask the question?!

[@sharonh2991]

He says TikTok shouldn’t be controlled by Meta or Microsoft…..it should be controlled by him.

[@Analyst2019pro]

Jews

[@mfundimkhize3137]

Yep, pretty much. Politicians are unbelievable! 😅

[@johnc4789]

How can you say publicly that you have insider info on a company through public service, and then make a bid for that company? How openly crooked can you be?

[@ElfProduct]

Because TikTok is not a public company. It's private.

[@johnc4789]

@@ElfProduct You gain inside information about a public or private company through your work as a public servant, you have no business to gain financially from that information.

[@jimkuan8493]

My only response is: "How low can US go?"

[@tullymcfarland9015]

No. Its about shutting down a platform that allows criticism of Is real.

[@VL-inquisitor]

This is the most hideous precedent of all time. If any foreign company can be forced to be divested like this, then should China reciprocate the same to American companies having businesses there? Worst still, the core values of American capitalism, fair competition, respect of private property, freedom of speech etc are completely shattered in a single move.

[@venkkandadai6042]

great points

[@baognguyen2599]

In fact they already did with facebook and google.

[@VL-inquisitor]

@@baognguyen2599 China’s ban on the like of Facebook is for fear of such social media outlets being used by an adversary against China for instigating social unrests, insurrections or regime changes. We have already seen that in regime changes in the Middle East, Brexit referendum and more recently in the Capitol Hill riot.

[@rahhjur]

@@baognguyen2599 It's one thing to not allow them to operate there, it's another to semi force them to sell their business. In the case of tiktok, I'm sure China would rather tiktok leave America than force a sale. This is not like China banning google/facebook. A similar example would be if china forced Tesla and apple to give up it's China operations.

[@VL-inquisitor]

@@baognguyen2599 There is simply no comparison between FB / Google with TikTok. These US companies refused to comply with China’s domestic rules on content management rules (Great Firewall) and they chose to the China market on their own accord (so the words ‘banned’ or ‘forced sale’ are not applicable). American companies (Microsoft Bing, Yahoo) complying with these rules have been continued to operate in China. As a matter of fact, Bing is the 2nd most popular search engine in China.

[@swamibr0]

Wow.. he just came out and said the quiet part out loud 😂

[@hydoffdhagaweyne1037]

LOL, I respect these politicians, they atleast work hard to earn money.

[@ssuwandi3240]

True. We Are Bankrupt Thanks Clown Potatoe😂

[@tullymcfarland9015]

No. Its about shutting down a platform that allows criticism of Is real

[@lppoqql]

Ok lets all be honest here, its not really about TikTok having any security issues. Its more like how can Mnuchin get a piece of this TikTok gold mine. Remind me of what happened to the Jews before WWII in Germany.

[@vitolazlo5767]

Look, it business. You are most likely Jewish and saying this.

[@kidinacage]

China doesn’t allow Google or Facebook for the same reason the US shouldn’t allow TikTok.

[@mariajiao4855]

​@@kidinacageSo should China force Google or Apple to sold to China?

[@ssuwandi3240]

​@@kidinacagethat's clearly Street Channels Indian hogwash..

[@ssuwandi3240]

Well it appears not everyone is outrageous Fascist nor stupid Ukraine

[@EmiliaGradel]

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[@LeeWalton6]

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[@JephthaRamsey]

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[@JephthaRamsey]

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[@jaym9846]

So does Google need to be sold to a Chinese company in China?

[@SagaranMike]

Is Google available in China?

[@Tesfas]

What makes you think Google China isn’t run by China?

[@grtinfulleffect8349]

Doesn't help Western supremacy.

[@kidinacage]

China doesn’t allow Google or Facebook for the same reason the US shouldn’t allow TikTok.

[@mariajiao4855]

​@@kidinacageFun fact: Google exited China by will because they don't want follow Chinese law, in the name of freedom of speech

[@cbotello4773]

What a weasel…trying to steal something that not yours…

[@zyh4113]

This sounds like a robbery

[@chengwahong9465]

He meant "steal" tiktok.. 'Land of the free' my foot.. Shame on u us!

[@cultureclique2173]

This Mnuchin guy is by far the weirdest politician I have ever seen.

[@alexthompson9516]

He's a bit odd.

[@internationalinvesting4336]

I want a piece of tiktok too

[@rodrigocortes3641]

Is he gonna offer $50 Billion for a $260 Billion dollar company?

[@CanYTrespectMyPrivacy]

It would be a steal even if you buy it at the current market price, since Tiktok is still growing fast and the projected market value is much higher (could be 5-10x more).

[@enzoned2402]

Only because TikTok is founded by a chinese singaporean. It’s all rhetoric politics. Facebook, IG, Amazon, Snap, and all other famous social media sharing platform have the SAME encryption code of privacy as Tiktok. But tiktok had to be singled out cause it wasn’t founded in silicon valley. If it had been founded in Korea, Spain or Belgium whatever, then this wouldn’t be an issue to the government.

[@peanuttube605]

I don't see how a vids made by influencers or normal folk clowning around can be thought of as a national security issue. Not good that gov can be used to take over a business for the benefit of ex high level gov officials.

[@edwardhuang8338]

Those people who commit to divest Tik Tok are bunch of pirates!!!

[@kidinacage]

China doesn’t allow Google or Facebook for the same reason the US shouldn’t allow TikTok.

[@theonlycaulfield]

​@@AlexIIIIIIIIII'm not sure what you think you're implying.

[@theonlycaulfield]

@@AlexIIIIIIIII Good luck with that.

[@edwardhuang8338]

Google was once allowed in China market, but quit after it did not follow certain regulations, you can see the rules that regulating these internet companies. I'm pretty sure the situation is completely different from what Tiktok is facing in US.@@kidinacage

[@mariajiao4855]

What can I say. pirates are pirates. You guys didn't change at all 😂

[@zeerem1726]

TT should just walk away. Get a VPN and log on

[@kenny0626]

A lot of the reasoning for such legislation appears to be theoretical and hypothetical, at least to public. Practically speaking, 180 days is a very short window for a potential sale of assets at this size (hundreds of billions of dollars) if Chinese regulators would have a say in this (believe they do) I’d bet they never approve such divestment even if TikTok wants to (especially if it involves technology transfer, and also the fact that this is being forced by US government), that probably mean the app would likely be banned if the legislation passes. (Huge value destruction, which explains why tiktok is acting somewhat desperately). Interesting to see how everything plays out. This bill if passes, will essentially legitimize the Chinese model of internet governance, which sees foreign platforms as inherent threats to political stability (which Americans have been looking down on).

[@msbrownbeast]

What about China currently blocking popular sites such as Facebook and KZbin ? Is that also a form of banishment?

[@johnc1873]

Thieves….

[@zackchow6669]

It's anything but "national security".

[@Macfierce1]

Just think of all the high priced fashion his wife could buy if he was the controlling owner of TikTok!!!! Why feed a starving kid when you can wear a $10,000 dress made by a Vietnamese child being paid $0.20/hour? She can even post all of her fashion updates to TikTok instead of those dreadful Facebook and Twitter (RIP) things so more American kids can be in awe of her fabulousness!

[@sharonh2991]

Right! Then they can pose for pictures holding sheets of $100 dollar bills rather than just those lowly $1 dollar bills.

[@justinke729]

He is so confident, sounds like he already chatted with Xi about the sales... haha . of course not.. Chinese gov will never allow the sales

[@realdeal139]

There you have it, Mnuchin will own Tik Tok in the near future. Big Power move!

[@tullymcfarland9015]

No. Its about shutting down a platform that allows criticism of Is real

[@mitchellchristianson8120]

That's ridiculous. Loan Depot 17 million people security breach, social security number, birth date's home address, emails, phone numbers, bank accounts etc. That's just one of three different mortgage companies in the last 3 months. Around 40 million people. I haven't had a loan with him for 5 years. They're basically shut down for a couple of weeks, the whole entire company

[@brokenhub7656]

They are licking their chops to snag up someone else’s successful business

[@tullymcfarland9015]

No. Its about shutting down a platform that allows criticism of Is real

[@illmagnetic]

TikTok is cool right now. How do you get it to be uncool? Have Mnuchin buy it. It’s like when your parents use words like “Oh that’s dope”.

[@Foreheadsnatcher]

What makes him believe china will allow bytedance to sell such a valuable piece of tech? China already has laws to prevent this from happening

[@tbo7756]

Shortly after Trump left office, Mnuchin launched a fund, Liberty Capital, and Kushner followed soon after, launching Affinity Partners in July. Within six months, Affinity Partners had secured a $2 billion investment from the Saudi sovereign-wealth fund, in April Liberty Capital raised more than $1.5 billion from the sovereign-wealth funds of Saudi Arabia, the United Arab Emirates, Kuwait, and Qatar within three months of Mnuchin leaving office. Ethics experts are concerned that the investments may be a way for the investors to gain footing with those close to Trump, The Times reported. What do you think, MAGAts? Just good business or pay off?

[@alexthompson9516]

Little bit of both

[@liminal6823]

The only thing worse than CCPTok is MAGATok 👈

[@christianromero9596]

This is a really great app here it would be a shame if you can't use it here in America....lol shakedown.

[@Mia-sp5wh]

There’s vpn

[@projectedenable]

This man couldnt bring freddie and fannie out of conservatorship (in his wheelhouse) and now he wants us to believe he is going to put in a bid for one of the largest tech platforms in the world? I cant believe it

[@fuggit4638]

I love how this panel always drills people who think they are powerful

[@paulattaboyatreides6414]

Is Steve Mnuchin considered a PEP?

[@OCBang]

I completely agree with Andrew. It's unfair for Chinese entrepreneurs to be compelled to sell their companies in the US due to potential national security concerns (no facts). Conversely, US companies like Apple and Tesla are also operating in China. This could potentially provoke retaliation against these American companies. Such developments would undoubtedly have devastating effects on global tech companies, entrepreneurs, and investors.

[@philipmehl9355]

How shady is this deal?! And CNBC didn’t even ask about the conflict of interest! he should be the last person on planet earth that is allowed to buy this company

[@MrWewill11]

This guy is slimy

[@brianlehmann265]

PROTECT OUR DATA FROM ALL, NOT JUST FROM THEM!

[@tullymcfarland9015]

No. Its about shutting down a platform that allows criticism of Is real

[@Astrodid1t]

This was literally their plan from the beginning 💀

[@speaktruth8739]

Tik Tok ban sounds like Patriot Act 2.0

[@darshuetube]

shut it down or force a sale. national security comes first.

[@William1866]

Notice how they can't make an app to rival TikTok, so once they take it over they will turn it into a flop.

[@the_village_elder]

We should all cancel and delete tik tok if it's sold in protest.

[@videosandrehome]

How bad is Communist 🇨🇳 to use US citizens data? Good Communist is a dead one.

[@weho_brian]

how is this legal?

[@RajDeelish]

It's legal. Governments can prevent companies they deem harmful to the public from operating within their borders. (See Google and Facebook in China)

[@pjhimself252]

He sounds a lot like our press secretary with “I can’t comment” answers. This wreaks of insider trading characteristics. “It’s a good business” especially if I make a lot of money with my connections.

[@yeoweehuathuat8926]

Tis day robbery

[@rickhayes-oh2zm]

The sherman act. Destroying competition.

[@gsdblack1]

What if they dont ban it?

[@PeachGardenOath]

if tiktok was so bad, why only ban it now 6 years later without a smoking gun

[@WalkOverHotCoal]

Obviously Mnuchin sees an opportunity for him to munch into a large, juice pork burger, t is not going to allow that to pass. The question is...isn't there a conflict of interest in play here? He advocates the forced fire sale, and he is going to be the buyer? Scheming and conniving is what they do best.

[@Kevin-eg6vg]

Legal looting

[@paulgilliland2992]

Xi Jinping isn’t having this period .

[@RealGrandFail]

Programming languages are the same in every country. Sell it to the EU and let's see what will be said then?

[@liang306]

Protect those kids dance moves at all cost 😂😂

[@wlf9108]

These people are evil.

[@sunday20]

Mnuchin will need to call Trump next month ... in the beautiful San Quentin prison.

[@danhato133]

Or in 12 months...in the white house

[@bps7209]

Dumbest thing I’ve heard today. Wait, I heard FJB. My bad.

[@jhshao8435]

Mnuchin is also a Jew who used to work for Goldman and a Jewish reporter😂

[@xgguo3531]

This guy wants to buy Tiktok at low price , by creating a law to force the sale. Very interesting. And The politicians who are shareholders of FaceBook will also be happy as major competitor of FB gets into a big trouble. Win-Win for money hungry politicians.

[@S62r]

Mnuchin just trying to be in the news- like a poor mans Elon Musk

[@JohnSmith-pb4ri]

The people you can't name won't be happy until they own everything.

[@kidinacage]

China doesn’t allow Google or Facebook for the same reason the US shouldn’t allow TikTok.

[@William1866]

So you want to be like them? I thought you were on the side of free speech.

[@recapkdrama]

Actually they have allowed it, if only google and facebook allowed china to censor the content shown in china and shared the data collected on them!!!!!!!!

[@petestegler9885]

First, create a problem, then, create a solution that makes you wealthier. Classic play here. I think this guy is slime. Always have.

[@mr2uinitio]

Hey Mnuchin - i've got 100K to invest. let me get in on this deal with you.

[@tonyscinemascope]

why does mnuchin keep saying he going to call trump and ask him about it? is trump his boss? is he afraid he's going to get the YOUR FIRED (wimp)

[@sog211]

America company also in China . China government can do the same way to America company. How many America company in China?

[@LumenMichaelOne]

Mr. Secretary of State Mnuchin sir ... Was your Great-Grandfather a Rockem-Sockem🤖? Your Great-Grandfather was The 💛🤖 wasn't He? He was The Great One ... NEVER got beat The💛🤖. Do You get picked in a Special👜 and 🔌💯 every night? You do don't you? Good Luck in The TicToc purchase Secretary Mnuchin sir ... 😌 ... MakeItAmerican Sir! ... 👏👏👏 ... ✊

[@bhitz]

Secondly why are they talking like trump already won the election? Like ?

[@howdydo64]

I hope China does the same with Apple / Google / Amazon within their country

[@jimmyiggy5937]

Crooked crooked crooked. Imagine forcing someone to sell their property with a time limit so you can pick it up (steal it) for pennies on the dollar! What a disgusting excuse for a human being!

[@eanerickson8915]

As a Canadian, I trust the Chinese more than this dude.

[@Tesfas]

🦅

[@adelmomontero3554]

Facebook is no friend of President Trump, doubt very much that Trump would ban Tik Tok.

[@Uchihawallstreet]

Data is the new money 💰

[@eanerickson8915]

If you give somebody who looks like this your money. You are a fool. Put it on the NASDAQ.

[@klintwehrell4483]

Mnuchin repeated the same statements over and over including how he can call Trump anytime. Intent on talking his book.

[@tecumseh4095]

“The data for the users is in the US but the algorithms and so much of the operation is outside the US” 😂😂😂 The clown has no idea what he is trying to say

[@hermess.6818]

Strong Arming

[@mr.alrightty2902]

LMOA how crooked can these potilician be, they dont even try to hide anymore

[@anto11434]

These people I just don't agree with the influence they have in American society. They are concerning.

[@JohnSmith-xc3zu]

Wow, daylight robbery! I didn’t know we could do that. So the Chinese can just buy our Tesla factory I guess. What happened to the rule based international law?

[@bhitz]

Massive massive conflict of interest for munchin he shouldn't be allowed to buy tiktok

[@gstarny]

it gives highway robbery to a new level

[@echozhao3124]

shame on you，the robber

[@PHILLIPS8822]

That's all we need is a right wing billionaire getting there hands on Tik Tok

[@jhockey11liu91]

He was drooling

[@far1762]

Aveți cyubuk traducere nu ynteleg nymyk😮

[@definitelyno601]

明抢还得大肆宣传，耍流氓的也要点脸吧

[@FoundingFathersUSA]

👍🇺🇸

[@DDDhorus]

This guys policies was not good for Bitcoin

[@robertougalde2417]

Why to ask trump he is no body on the government yet !!

[@hylimm]

They are the one going to profit from it! Lol 😂

[@F91RPG]

He meant ROB

[@Muricans1776]

Creepy Steve …. Buying Tik Tok… Bankers don’t innovate ..

[@woodystefeneylee7290]

1789

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[@Dengtree]

These are not Americans

[@Nick-zw7gg]

This video cancelled my vote for Trump. Ok fine.

[@jonathandoe2316]

Another *ew big suprise. Can I comment that J tube.

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