TikTok Deal: U.S.-Led Venture, Oracle Data Oversight (Full Transcript)

[00:00:00] Speaker 1: TikTok can officially stay in the United States. Now ByteDance, that's TikTok's Beijing-based parent company, says it reached a deal for the new U.S.-joined venture after a years-long legal drama and geopolitical battle between China and America. Now that's probably good news for the more than 200 million Americans who regularly use TikTok, including businesses and creators who rely on the app for their incomes. Now the new entity will be overseen by a majority American board. It plans to retrain TikTok's algorithm on U.S. user data, and Oracle will oversee the storage of that. You'll be in charge of moderating content on the platform. So the experience on the app is unlikely to change, but the algorithm that controls what videos are served could be different. Now there are still questions about whether this deal addresses the national security concerns raised by U.S. lawmakers on both sides of the aisle who, back in 2024, passed a law to force a spinoff. ByteDance will still manage the TikTok shop, as well as advertising and marketing. Trump said he's, quote, so happy to have helped in saving TikTok in a Truth Social post, even though he had tried to block TikTok in the U.S. in the past. I'll Trump also thank Chinese President Xi Jinping for approving the deal.