00:00TikTok will be owned by a majority of American investors and controlled by a board of directors
00:04with extensive national security and cybersecurity credentials. In partnership with the U.S.
00:09government, Oracle will serve as TikTok's trusted security provider, and they will
00:14independently monitor the safety and data security of all U.S. user data on TikTok's platform.
00:20Americans' data will be stored securely in the United States without access from China.
00:24All U.S. user data will be stored on servers operated by Oracle in the United States,
00:30protected from surveillance or interference by foreign adversaries. And the algorithm,
00:35I know this is a question many of you have had, will be secured, retrained, and operated in the
00:40United States outside of ByteDance's control. And TikTok will remain globally interoperable,
00:47meaning TikTok users in the U.S. will be able to see videos posted by users in other countries
00:53and vice versa. We do expect that thanks to the president's leadership and the securement of this
00:58historic deal, businesses using TikTok will generate as much as $178 billion in economic activity within
01:06the U.S. over the next four years. So this is great news, not just for the millions of American
01:12youth who use TikTok. Their data will be safe and secure with this new deal. They'll continue to use
01:17this very fun app. But it's also great news for all the small business owners who have really been
01:22able to make a living off of the use of TikTok as well.
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