Good morning, Quartz readers!
Here’s what you need to know
The time of interest. When student loan collection is restored After five years of pause.
AMD is coming to NVIDIA soon. AMD stock soared nearly 10% after Wall Street’s favorable reaction – see: “Overweight” identity – Recently announced Helios Programs and Partnerships.
No fragments. As the U.S. continues to crack down, Chinese tech companies Huawei and SMIC find themselves on Taiwan’s blacklist On AI and semiconductors.
Bricks, Bill. China’s housing downturn is still declining despite continued government support, but the country’s citizens show Increase consumer spending.
Pharmaceutical Giant’s Maple Tree Error. A $250 error – not paying patent maintenance fees – will cause Novo Nove Nove by giving Canadians a universal version Weight loss pills.
Perk-Formance comments. JPMorgan Chase and American Express are boosting their luxury brand competition, both companies have hope Improved rewards are even greater.
Frankly speaking, this is personal
Frank McCourt lost the Los Angeles Dodgers in a brutal divorce. Now, he wants to win Tiktok – and in his narrative, he saves the internet on the internet. The billionaire real estate tycoon is leading a $20 billion bid to buy embattled platforms from barbarians, strip them of secret algorithms, and rebuild Tiktok on transparent, user-owned protocols that he has evolved over the past four years.
The vision (part of the digital utopia) is part of personal freedom – powered by Project Liberty, a nonprofit McCourt designed to “re-land” the network. He believes that data is personality, users should hold the key, and the platform should serve people, not the other way around. He even met with Tiktok’s top creators to launch a portable follower and content that allows access to the world of analytics, with modest opt-in tags.
Critics say he doesn’t know Tiktok because he has never used it. McCourt told Quartz that the algorithm is not a secret seasoning – the app’s users are. Anyway, billionaires aren’t the only ones who are concerned about Tiktok. Oracle’s Larry Ellison was reportedly hovering with others. But so far, McCourt said his group is the only one to submit a formal bid. The barbarians did not respond publicly. Clock ticking: According to laws passed in 2024, Tiktok must be sold or banned from its Chinese ownership due to national security concerns. President Donald Trump has extended the deadline several times – the latest deadline is June 19.
Now, McCourt is projecting his Tiktok drama in his seventies and for himself and the platforms he considers addictive, opaque and dangerous to young users. (His 9-year-old daughter is still not allowed on the app.) Whether he succeeds or not, his bid can glimpse the internet’s completely different vision – where users have power, not just passwords. Catherine Baab of Quartz has more ideas about billionaires, and he wants to open your FYP.
Thread count has risen
Reddit is playing a role in advertising budgets – this time, it brings AI. The company announced “Reddit Community Intelligence” at the Lions of Cannes this week, a suite of tools designed to help marketers leverage the platform’s comment threads to gain insights.
These products include Reddit Insights, a social listing tool that parses emotional and trending posts, and a conversation summary add-on that embeds real Reddit user posts directly into ads. Early tests showed a 19% increase in click-through rates, suggesting that authenticity may be converted.
This push comes when Reddit tries to prove that it’s more than memes and confusion. Since its IPO in March, the company’s stock has compiled Google AI’s concerns overview of dietary traffic. Still, advertising revenue in the first quarter rose 61% year-on-year, while Reddit bets that its community can be monetized regardless of the algorithm.
One of the biggest tests of Reddit? Partnership with CVS – Reddit plans to be a serious player in retail media. Reddit’s move is part of a broader AI strategy. The company has launched Reddit Answers, a generation-AI feature that aggregates community responses, with Reddit licensing agreements with OpenAI and Google, while suing alleged training on reddit content without permission. information? This is a platform that wants to own its data and make it totally profitable.
The real bet is that Reddit’s confusion is value. Reddit tends toward other platforms on the algorithm, but Reddit sends out the original signal: real people, real opinions, real time. Now, it’s just figuring out how to bottle mess and sell it – one ad unit at a time. Shannon Carroll of Quartz has more about why Reddit thinks your hot state is worth more than 19%.

Health & Wellness Contributor
A wellness enthusiast and certified nutrition advisor, Meera covers everything from healthy living tips to medical breakthroughs. Her articles aim to inform and inspire readers to live better every day.