No. of Recommendations: 17
Why would Buffett invest in a lay up? I love it in Brkville where thought goes to die.
Do we know for sure he didn't get the call? And do we know for sure this is a layup?
Friendster was the OG social networking site. Everybody wanted a piece of it until Myspace slowly killed it off. Myspace was huge when it was bought by Newscorp. A coup for Newscorp at the time, it was believed. Then Facebook came along and drowned Myspace in the bathrub. Speaking of Facebook, have you seen your feed lately? It is a lot different than it used to be. Facebook's business model has changed radically over the years. For whatever reason, people stopped sharing as much stuff so Facebook had to pivot to more generated content. To Zuck's credit he steered the transition, but these things change. The kids are using Snap, Whatsap, and Instagram instead. Remember Vine? It was a short video sharing site that was really popular until it eventually lost out to Instagram and later TikToK. Musk thought he could right the good ship Twitter, but least we heard that wasn't going so well. The problems are big enough he can't fix them.
I don't know enough about TikTok to understand if this is a good deal or not. It does sound high risk/high reward though. That's not how the Chairman operates.
