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TikTok deal “framework” reached with China, Bessent says
Bay Area Times
September 16, 2025
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Top stories today:
- TikTok deal “framework” reached with China, Bessent says
- OpenAI debuts GPT-5-Codex with dynamic coding “thinking”
- Meta Ray-Ban Display glasses leak ahead of Connect conference
- Trump calls to end quarterly earnings reports
- Polymarket SEC filing hints at possible token launch
0. Data and calendar
All values as of 6 AM ET / 3 AM PT, other than S&P500 and NASDAQ close (4 PM ET / 1 PM PT).
All times are ET.
Listen to our AI-generated podcast summarizing today’s newsletter (beware of hallucinations):
1. TikTok deal “framework” reached with China, Bessent says
Trump teased the development in a Truth Social post after Bessent’s talks with Chinese counterparts in Madrid:
A framework of “consensus” had been reached on TikTok, China’s Vice Commerce Minister Li Chenggang told reporters in Madrid.
The framework could pivot TikTok to U.S.-controlled ownership.
TikTok’s U.S. spinoff will use ByteDance’s Chinese algorithm, and the deal includes “licensing the algorithm and other IP rights,” China said.
Friday call with Xi is expected.
Sep. 17: the Trump admin issued the deadline for ByteDance to either divest TikTok’s U.S. business or have it potentially shut down.
Grammy-winning artist will.i.am passed on investing $200K in Airbnb in 2010. It’d be worth $100M+ today. Now, the investors behind Venmo and Uber are backing another real estate disruptor. And this time, you can invest. But only until Thursday.
Meet Pacaso. Created by a former Zillow exec who sold his first venture for $120M, Pacaso brings co-ownership to the $1.3T vacation home industry.
They’ve generated $1B+ worth of luxury home transactions & fees across 2,000+ owners. That’s good for more than $110M in gross profits in under 5 years. They’ve even reserved their Nasdaq ticker, PCSO.
And you can join them today for just $2.90/share. But don’t wait too long. Invest in Pacaso before the opportunity ends Thursday night.
*This is a paid advertisement for Pacaso's Regulation A offering. Please read the offering circular at invest.pacaso.com. Reserving the ticker symbol is not a guarantee that the company will go public. Listing on the NASDAQ is subject to approvals.
Prospective investors should review the offering materials for details, including all risk factors, before making an investment decision. Any investment involves significant risks, including the potential loss of the total investment. This advertisement is not an offer to sell or a solicitation of an offer to buy securities.
3. OpenAI debuts GPT-5-Codex with dynamic coding “thinking”
GPT-5-Codex has outperformed GPT-5 on SWE-bench Verified tested by OpenAI:
The new model is rolling out in Codex, accessible via terminal, IDE, GitHub, and ChatGPT.
It is trained for conducting code reviews, and its early review comments were tested by software engineers, OpenAI said.
GPT-5-Codex would also be available to API customers in the future.
4. Meta Ray-Ban Display glasses leak ahead of Connect conference
Meta’s upcoming smart glasses lineup may also include Oakley Meta Sphaera glasses with eye protection and a centered camera:
