"The sparse details in the press release shed little light on outstanding questions from the time that the deal was first announced, such as whether a licensing agreement for the algorithm can be crafted in a way that avoids the sort of relationship with ByteDance that would be prohibited by the law. Even lawmakers who supported the bill seem to be in the dark."
"The company announced Tuesday that its US service is now part of the separate TikTok USDS Joint Venture LLC, with parent company ByteDance holding just a 19.9 percent stake in that new entity. The rest is owned by Oracle and investment firms Silver Lake and MGX, as well as smaller investors including Michael Dell's family investment firm. Oracle will store US data and the joint venture will "retrain, test, and update the content recommendation algorithm on U.S. user data.""
TikTok's US service was moved into a separate entity called TikTok USDS Joint Venture LLC, with ByteDance retaining a 19.9 percent stake. Oracle, Silver Lake, MGX, and other investors including Michael Dell's family firm hold the remaining ownership. Oracle will store US data. The joint venture will retrain, test, and update the content recommendation algorithm on U.S. user data and will have decision-making authority over trust, safety, and content moderation policies. The press release provided sparse details. Outstanding questions remain about whether a licensing agreement or other arrangements could legally prevent Chinese influence over the algorithm, and lawmakers remain uncertain.
Read at The Verge
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