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WSJ Tech News Briefing

How Important Is the TikTok Economy?

WSJ Tech News Briefing

The Wall Street Journal

Tech News, News

4.31.7K Ratings

🗓️ 22 January 2025

⏱️ 11 minutes

🧾️ Download transcript

Summary

TikTok is back in the U.S. but its future is still uncertain. WSJ tech reporter Sarah Needleman tells host Julie Chang about the role that TikTok plays in the U.S. economy and what’s at stake for creators and businesses. Plus, why WSJ’s Heard on the Street columnist Dan Gallagher says Meta CEO Mark Zuckerberg can afford to take a page out of Elon Musk’s playbook at X. Sign up for the WSJ's free Technology newsletter. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0

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0:33.7

Welcome to Tech News briefing. It's Wednesday, January 22nd. I'm Julie Chang for the Wall Street Journal.

0:40.8

Meta CEO Mark Zuckerberg has taken a page out of Elon Musk's playbook and ended internal fact-checking on its platforms.

0:49.4

And while that turned out to be a costly move for X, meta will probably be okay. We'll explain.

0:55.6

And then, after going dark for U.S. users on Saturday night, TikTok is back online.

1:01.2

For now, we'll look at the role that TikTok plays in the U.S. economy and what's at stake

1:06.5

for creators and businesses.

1:16.0

First up, META CEO Mark Zuckerberg announced earlier this month that he was ending the company's internal fact-checking program and replacing it with a user-based system.

1:21.4

He said that META would continue to tackle illegal and high-severity violations.

1:25.5

But for the most part, the company is relying on its users to

1:28.9

flag problematic content. This is similar to what Elon Musk did after buying X, then Twitter,

1:34.9

in October of 2022. Advertisers fled the platform, and a year after his purchase,

1:41.4

Musk said that X was worth about $19 billion, less than half of what

1:46.5

he paid for it. So could Meta suffer the same fate? WSJ heard on the street columnist Dan

1:53.5

Gallagher says, that is unlikely. Dan is with me now. So Dan, how have advertisers and investors reacted so far to Zuckerberg's announcement

2:03.8

to end internal fact checking and meta? Well, I would say that there's been a little bit of worry,

2:08.5

but it's not been nearly to the scale that we saw with X. There's a few reasons for that.

2:13.3

One is that compared to what was one called Twitter, now called X, Facebook, Instagram,

...

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