WSJ What’s News: “TikTok USA Is Here to Stay”

Date: January 23, 2026
Host: Luke Vargas
Key Guest: Stu Wu (WSJ tech reporter)

Episode Overview

This episode of WSJ’s What’s News focuses on TikTok’s future in the United States, examining the resolution that kept the app from being banned. The episode breaks down the high-stakes negotiations and the new joint venture that shifts TikTok's U.S. operations largely to American investors. The conversation expands to the deal’s significance within U.S.-China relations and the shifting attitudes in Washington regarding tech, trade, and national security.

Other headlines briefly covered include the U.S. winter storm and energy market disruptions, Venezuela's moves to encourage U.S. oil investment, a tension-filled congressional vote on presidential war powers, sky-high gold prices, and the “No Buy January” consumer trend.

Main Segment: TikTok’s Survival in the U.S.

1. TikTok's Joint Venture—What Happened and Who’s Involved

• [04:48] Stu Wu explains:
  • ByteDance, TikTok’s Chinese parent, will sell an 80% stake of TikTok U.S. to a consortium of American investors.
    • Major buyers: Oracle (with oversight over TikTok U.S. operations and data), Michael Dell’s family office, and Silver Lake (an investment firm).
  • ByteDance retains a large (but non-controlling) stake.
  • The heart of the deal: “While the Chinese parent company will still retain a big stake, the rest of the company will be overseen by US investors. And the key investor here is Oracle, the big US tech company. They're going to be overseeing how TikTok is run in America. So they're going to be housing the data for TikTok and also see how the algorithms work.” – Stu Wu ([05:21])
• User experience unchanged: The app stays interoperable with TikTok globally, but with U.S.-based oversight ensuring compliance with American regulatory and security concerns.

2. Why Was TikTok Nearly Banned?

• [05:46] Security worries stemmed from TikTok’s Chinese parent:
  • Potential data snooping on Americans.
  • Content manipulation to sway U.S. public opinion or promote Chinese interests.
• Quoting Stu Wu:
  • “With Oracle overseeing everything that runs on TikTok, they're going to be able to spot something that says, oh, wait a minute, that seems un American, that seems unsafe. That's the idea—that it lets TikTok keep on operating in America, but it will be controlled by Americans, not a company in China.” ([06:14])

3. How Does This Fit into the U.S.–China Relationship?

• [06:44] The TikTok deal is viewed in the broader context of a “U.S.-China tech cold war.”
• Recent trend: Thawing of relations, as seen in the new TikTok structure and recent U.S. policy allowing Nvidia to sell some AI chips to China.
• Tension between Washington’s security hawks, who want technological decoupling, and President Trump, who is open to leveraging security issues in trade deals:
  • “Among the national security hawks... they say when it comes to national security, we don't want to give anything that might give China an edge... President Trump, on the other hand, thinks that everything is on the table.” – Stu Wu ([07:22])

4. Why Did Beijing and ByteDance Agree?

• [07:44] Wu reports: Beijing doesn’t see TikTok as a core security asset—“They're not concerned about an app where people do silly dances.”
• Instead, TikTok was leveraged as a bargaining chip in broader talks.
  • “This was maybe for them, just a bargaining chip that they were able to get something out of it and also... let one of its biggest tech companies continue doing what it does in America.” – Stu Wu ([07:56])

5. Politics and TikTok’s Popularity

• [08:09] TikTok’s fate was influenced by U.S. domestic politics, particularly its popularity among young voters.
  • Former President Biden favored a ban during the election, citing national security.
  • Trump pivoted after learning of his popularity on the platform, ultimately supporting TikTok’s continued U.S. presence.
    • “President Trump said, you know What, I support TikTok. I'm not going to ban it if I get elected. And it turns out that was one of the promises that he's been able to keep.” – Stu Wu ([08:31])

Notable Quotes & Timestamps

• “TikTok is not getting banned in the U.S. after all we've been through over the past couple of years, with Congress banning them and the Supreme Court holding up that ban, TikTok is here to stay.”
  – Stu Wu ([04:48])

• “With Oracle overseeing everything that runs on TikTok, they're going to be able to spot something that says, oh, wait a minute, that seems un American, that seems unsafe.”
  – Stu Wu ([06:14])

• “Among the national security hawks... they say when it comes to national security, we don't want to give anything that might give China an edge... President Trump, on the other hand, thinks that everything is on the table.”
  – Stu Wu ([07:22])

• “They're not concerned about an app where people do silly dances. So this was maybe for them, just a bargaining chip that they were able to get something out of it.”
  – Stu Wu ([07:56])

Additional Key Segments & Timestamps

1. Storms and Natural Gas Prices

• 00:22–02:28
  • Major winter storm hitting the U.S.; warnings from meteorologists.
  • Natural gas prices soaring to highest levels since 2022 due to anticipated demand and production disruptions.
    • “Natural gas is the dominant heating fuel across the U.S.—it fuels about 47% of heating demand.” – Julia Petroni ([02:05])

2. Venezuela’s Oil Reforms & U.S. Relations

• 02:28–03:48
  • Venezuela moves to reduce state control and royalty rates to attract U.S. investment.
    • “It also calls for investors to have the capability of arbitration, which is very important, especially in Venezuela, where many companies have been burned in the past...” – Kejal Villas ([03:23])
  • Skepticism remains among analysts due to past contract violations.

3. Congressional Vote on War Powers (Venezuela)

• 03:48–04:48
  • Effort to restrict presidential military action fails by a tied vote.

4. Gold & Japanese Bonds Markets

• 09:49–11:23
  • Gold hits record highs near $5,000/oz amid uncertainty.
  • Japanese bonds’ volatility impacts global markets, with implications for U.S. treasuries.

5. ‘No Buy January’ Trend

• 11:23–12:16
  • Viral social media challenge where consumers refrain from non-essential purchases.
    • “A survey... found that more than a quarter have tried and no spend January and this year 12% are joining in on the trend. Consumers are anxious. They remain anxious about affordability and sluggish hiring.” – Jennifer Williams ([11:55])

Memorable Moments

• TikTok’s status as a cultural and political bargaining chip: Both the U.S. and China view the app as valuable, but for different reasons—users, influence, and leverage.
• The role of U.S. politics in shaping tech policy: Trump’s reversal on TikTok underscores how electoral considerations can override national security arguments.

Useful Summary for Non-Listeners

This episode explains not just why TikTok remains available in the U.S., but the behind-the-scenes business, security, and political maneuvering that led to this outcome. It offers critical context on U.S.-China relations, the intersection of tech and politics, and new trends in energy, finance, and consumer behavior—all in a tone that’s brisk but informative, capturing the urgency and complexity of the day’s top stories.