TikTok CEO Praises App’s User Experience Despite ‘Some Bad Actors’

Thanks for joining us. Thursday’s long-anticipated appearance by TikTok Chief Executive Officer Shou Chew started on a combative note and offered little to convince skeptics. Here are five key takeaways from the marathon session.

• The drama began hours before the hearing began when a Chinese official said the country would have to approve any sale to a US entity. That provided fuel for lawmakers who wanted to poke holes in Chew’s claims of independence from China.
• While Chew kept his cool and did a credible job of defending the app in front of a hostile audience, a few assurances on data security fell flat. “I don’t think that spying is the right way to describe it,” he said at one point, drawing chuckles or groans from the audience
• The meeting was so closely watched that big name lawmakers weighed in via statement. Leading US senators like Michael Bennet and Marco Rubio called for a ban. One Wall Street Analyst said the outcome was a “disaster.”
• When not talking about data being accessed by China, lawmakers zeroed in on content moderation, showing videos about violence and self-harm. Chew’s main response was that they’re working on it, and harmful content isn’t a problem unique to TikTok.
• Speaking of competitors -- shares of social companies like Meta and Snapchat outperformed the market today. A ban would benefit these other platforms, Emile El Nems of Moody’s Investors Service said in a statement.