Take a look at what you did
You probably thought that you'd break my heart
You probably thought that you'd make me cry
But baby it's okay
It's okay

from The Weeknd – The Knowing Lyrics on Rap Genius

Meaning

Like he’s said several times now, her cheating doesn’t hurt him (even though it most likely does, and he’s lying to himself to
Lessen the pain).

The way he sings the last line should also be noted. He is painfully crooning (essentially crying out) “It’s okay”, suggesting it is anything but ok. Slight gasping can be heard as The Weeknd sighs or chokes up crooning the line, providing a paradox between the lyrical content and the performance. An irony is also established as this conflicts with the rest of the piece where he seems accepting of his girl’s infidelity.

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