Kevin O’Leary, Chairman of O’Leary Ventures and known from “Shark Tank,” recently shared his perspectives on several pressing issues during a discussion on Fox Business. He weighed in on the House speakership vote, President Biden’s decision to block the U.S. Steel sale to Japan’s Nippon Steel, and the contentious future of TikTok in the U.S.
Regarding the House speakership vote, O’Leary expressed a preference for a swift resolution, suggesting that a single vote would help maintain the momentum of the Trump agenda. He praised current Speaker Mike Johnson, indicating high approval among those who work with him, but emphasized that the focus should be on more substantial agenda items rather than the drama of Washington politics.
On the topic of the blocked U.S. Steel sale, O’Leary labeled the decision as a “mistake.” He argued against the notion of government picking winners and losers, stressing that attracting global capital to the U.S. is fundamental to maintaining its status as the world’s leading economy. He criticized the move as counterproductive, particularly since Nippon Steel had committed to significant investments in U.S. infrastructure and employment. O’Leary hopes that this decision might be overturned by Trump, pointing out the recent $100 billion investment by SoftBank as an example of beneficial foreign capital influx.
Shifting to TikTok, O’Leary framed the situation as one that could soon come to a head with a bipartisan congressional order potentially shutting down the app due to national security concerns related to Chinese ownership. He revealed his interest in leading a syndicate to purchase TikTok, aiming to transform it into a compliant U.S. entity by possibly rewriting its algorithm and gaining Department of Defense approval. O’Leary anticipates that the Supreme Court would not support the continued operation of what has been labeled as Chinese spyware, predicting instead that the issue would return to the executive branch for resolution. ‘TikTok is living in a dreamland if they think the Supreme Court of the United States is going to allow spyware to operate against the American people. It’s not going to happen,’ he stated.
He envisions a scenario where he could present a Letter of Intent (LOI) to President Biden, proposing a 90-day stay to allow for a transition of ownership, ensuring continuity for the platform’s users and advertisers during this period. O’Leary plans to involve these stakeholders, whom he refers to as “shark tankers,” by offering them investment opportunities at the same level as his own, thereby securing their support and engagement through the transition.
O’Leary’s comments reflect his business-oriented perspective, focusing on economic growth, capital attraction, and pragmatic solutions to regulatory and security challenges. His insights suggest a landscape where political decisions intersect with business strategies, potentially reshaping industry dynamics in steel manufacturing and social media under new U.S. leadership.
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