Billionaire Frank McCourt is working to change the internet on an infrastructural level to reduce toxicity, misinformation, and extractive practices. He is putting together a bid to buy TikTok from ByteDance, as he believes users should have more control over their personal data and online identities. McCourt’s plan involves assembling a coalition to buy TikTok and keep its valuable user data on a decentralized protocol, with support from technologists, academics, and policymakers through his nonprofit Project Liberty. While he did not disclose a specific value for TikTok, other potential bidders include Kevin O’Leary and Steve Mnuchin, although ByteDance is currently challenging the forced sale in court.
McCourt’s vision for TikTok and the internet ecosystem involves reshaping how user data is handled and giving users more control over their online identities. He is not interested in acquiring the core algorithm that has fueled TikTok’s growth, which could pose challenges in making the app profitable under his decentralized model. Despite ByteDance’s resistance to selling TikTok, McCourt is determined to pursue his plan to revolutionize the platform and address broader issues within the online space. His proposal has garnered support from influential figures such as Jonathan Haidt and Tim Berners-Lee, underscoring the potential impact of his vision.
The sale of TikTok to a coalition led by McCourt could mark a significant shift in how social media platforms operate and handle user data. By decentralizing control over valuable user information, McCourt aims to create a more transparent and user-centric online environment. However, the success of this endeavor hinges on overcoming various obstacles, including ByteDance’s reluctance to sell TikTok and the complexities of integrating the app into a decentralized protocol while ensuring profitability. McCourt’s commitment to transforming the internet landscape reflects a broader movement towards reimagining digital platforms and addressing systemic issues such as data privacy and misinformation.
McCourt’s ambitious plan to buy TikTok and reshape its infrastructure aligns with his overarching goal of fixing the internet and promoting user empowerment. Through Project Liberty, he has engaged with experts and thought leaders to develop a comprehensive strategy for transitioning TikTok to a decentralized model. While the outcome of McCourt’s bid remains uncertain, his efforts underscore the growing demand for reforming online platforms and reimagining the digital landscape. By challenging the status quo and advocating for user-centric principles, McCourt is at the forefront of a transformative movement that seeks to redefine the internet for the better.
