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  • TikTok aims to 10x its Shop U.S. revenue to $17.5B in 2024, as it 4x merchant fees to 8%

TikTok aims to 10x its Shop U.S. revenue to $17.5B in 2024, as it 4x merchant fees to 8%

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Top stories today:

  1. TikTok aims to 10x its Shop U.S. revenue to $17.5B in 2024
  2. Global VC deals reach $346B in 2023, -54% vs. 2021
  3. Microsoft introduces Copilot key on Windows 11 PCs
  4. Mediterranean diet wins U.S. News diet of the year

0. Data and calendar

All values as of 6 AM ET / 3 AM PT, other than S&P500 close (4 PM ET / 1 PM PT).

All times are ET.

1. TikTok aims to 10x its Shop U.S. revenue to $17.5B in 2024, as it 4x merchant fees to 8%

  • Merchant fee increase is gradual: 2% now, 6% in April, and 8% in July for most categories, vs. Amazon's 15% also for most categories.

    • Amazon charges 5% for clothes <$15, meaning it can still be cheaper than TikTok Shop.

  • Global revenue is already at ~$20B.

  • Latin America launch in the coming months.

2. Global VC deals reach $346B in 2023, -54% vs. 2021

Exits were even more hurt, at $225B, -85% vs. 2021

In the U.S, the South is the region that is experiencing the most growth in funding, led by Florida and Texas

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4. Microsoft introduces Copilot key on Windows 11 PCs

5. Mediterranean diet wins U.S. News diet of the year

6. Interesting videos, posts, and memes

7. Other headlines


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  • Twitch will ban people implying they are naked.

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  • Zuckerberg sold $428M in Meta stock in Nov.-Dec.

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Tech & law

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  • Scientists discover HKDC1 that could prevent cellular senescence.


  • FOMC in Dec. saw rate cuts likely, but path uncertain.

  • The Messenger weighs shutting down after burning ~$50M raised.

  • Xerox to cut 15% of its 20,500-person workforce.

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  • Arrived: learn how to invest as little as $100 in fractional real estate, which has outperformed the S&P500 over the past 20 years.*



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  • BTC falls to $43K as ETF launch still pending.

  • Hyperverse crypto scheme collapses, CEO appears to be fake.

  • Binance puts “Monitoring Tag” on 10 tokens, including XMR, ZEC.

U.S. politics

  • Trump asks Supreme Court to overturn CO ballot ban.

  • Jeffrey Epstein doc unsealed, 150 associates named.


  • Iran: 2 explosions kill ~100 in crowd marking death of Soleimani.

  • Houthis given ultimatum by U.S., allies.

  • M777 howitzer production restarted by BAE given demand.

  • Russia to buy ballistic missiles from Iran.

  • Ukraine, Russia exchange ~248 prisoners, largest yet.

  • Hamas CEO: a look at how Zaher Jabarin leverages Turkey for financing.

  • U.S. seeks drone basis in West Africa to counter Islamist threat.

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