TikTok’s deal is full of contradictions, the most anticipated presidential debate, Quibi is still a bad joke, movie theatres struggling and Tesla laughs at Nikola’s troubles.
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TikTok’s deal. Does anyone know where it stands now? There’s a lot of confusion between the biders (Oracle/Walmart) and the app’s parent company ByteDance, each of them making their own contradictory statements. So far, it seems like we’re looking at a $60B valuation. $12B US companies combined which amounts to 20%.
Debate Countdown. The first presidential debate is just around the corner. Will it be in person or will it be virtual? Not clear at the time of this recording. One thing is clear, it will be the most watched debate of all times. Fact checkers will be busy!
Is Quibi for sale? This app just doesn’t seem to catch a break. Even at the Emmys it was the target of host Jimmy Kimmel’s jokes.
Can movie theatres survive? We share our own experience at a local AMC Theater viewing of “Tenet,” and it’s not very promising for theatre owners.
As far as the movie goes, Tenet has collected $36 million domestic so far and Worldwide, “Tenet” is now up to $250 million. That is ahead of the opening weekends of both “Interstellar” and “Dunkirk,” an ultimate theatrical gross of $350 million for “Tenet” looks possible. Of course, we’re comparing previous “3-day-weekend” numbers with 3-week numbers, so not quite apples to apples. Time will tell.
Tesla Battery Day Announcement. Musk keeps charging forward (no pun intended) with his long term plan for his electric car company. Meanwhile…
Nikola’s CEO Trevor Milton unexpectedly resigns. He gets to keep a $3.1 Billion separation deal. The company went public on June 4 and recently signed a deal with GM valued at $2 billion worth of stock in exchange for 11% stake in the EV company. What a mess…
All that and more in this episode of MGR Unplugged.
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