Latest news with #ByteDance
Yahoo
9 hours ago
- Business
- Yahoo
Kevin O'Leary Says TikTok Deal Is Dead — And U.S. Law Must Finally Decide Who Owns Your Data
Celebrity investor Kevin O'Leary says the window to buy TikTok with its current Chinese-owned algorithm has officially closed. As a new 90-day deadline ticks down, O'Leary is sounding the alarm: TikTok's future in the U.S. hangs in the balance, and at the heart of it is a much bigger issue — who truly owns your personal data? TikTok's Chinese parent company, ByteDance, is under pressure from a U.S. law enacted last year that requires it to sell its TikTok assets in the U.S. or face a nationwide ban. The law was upheld by the Supreme Court, but enforcement has been repeatedly delayed. Most recently, President Donald Trump granted a 90-day extension until September, marking the third postponement. Don't Miss: Peter Thiel turned $1,700 into $5 billion—now accredited investors are eyeing this software company with similar breakout potential. Learn how you can invest with $1,000 at just $0.30/share. Invest early in CancerVax's breakthrough tech aiming to disrupt a $231B market. Back a bold new approach to cancer treatment with high-growth potential. While TikTok has continued to operate, critics say these delays are avoiding a key national security concern: the possibility that the Chinese government could access American user data. Beijing denies this, but many U.S. lawmakers remain skeptical. According to O'Leary, a new sale involving TikTok's existing algorithm is no longer on the table. "We know that we can't buy the algorithm," he said in a video he posted to X. "So we're gonna have to rewrite this whole thing." O'Leary is part of a group led by billionaire Frank McCourt and Reddit co-founder Alexis Ohanian proposing a new version of TikTok — one without Chinese-owned code. Their goal? Create a U.S.-based platform that puts data ownership in the hands of users, not corporations. The alternative, O'Leary warns, is a legal minefield. "Every mothers' group and state attorney general is suing social media," he said. "All stemming from the fact that the platform owns the data and the customer doesn't." Trending: Tired of Grid Failures and Charging Deserts? This Startup Has a Solar Fix and $25M+ in Sales — Now Raising at $3/Share O'Leary also tied the TikTok debate to the broader issue of U.S. technology exports, especially AI chips made by companies like Nvidia (NASDAQ:NVDA) and Advanced Micro Devices (NASDAQ:AMD). He used a bee analogy to explain: The chip is the queen bee, and software developers are the honeybees building AI — or "honey" — on that chip. O'Leary argued there will soon be only two types of AI: "American honey" and "Chinese honey." "If you want the world running on Chinese honey, stop shipping American queen bee chips," he said. His point: limiting chip exports could backfire by encouraging foreign adversaries to build their own alternatives — like Congress acts or a new buyer is found, TikTok could be pulled from U.S. app stores after the September deadline. O'Leary believes this is likely the "last extension." As lawmakers debate national security, global trade, and personal privacy, the clock keeps ticking. One thing is clear: TikTok's fate is tied not just to politics, but to a fundamental question about the future of the internet — who controls the data, and who gets to decide? Read Next: Are you rich? Here's what Americans think you need to be considered wealthy. Up Next: Transform your trading with Benzinga Edge's one-of-a-kind market trade ideas and tools. Click now to access unique insights that can set you ahead in today's competitive market. Get the latest stock analysis from Benzinga? ADVANCED MICRO DEVICES (AMD): Free Stock Analysis Report NVIDIA (NVDA): Free Stock Analysis Report This article Kevin O'Leary Says TikTok Deal Is Dead — And U.S. Law Must Finally Decide Who Owns Your Data originally appeared on © 2025 Benzinga does not provide investment advice. All rights reserved.
South China Morning Post
15 hours ago
- Business
- South China Morning Post
Alibaba unveils new AI model for image creation, as open-source approach gains recognition
Alibaba Group Holding has launched a new artificial intelligence (AI) model, Qwen VLo, said to be capable of generating and editing images with a finesse akin to that of a human artist, intensifying the competition in multimodal models as the tech giant seeks to redefine itself as an AI leader. Released on Friday, Qwen VLo was a 'comprehensive upgrade' from previous models like QwenVL and Qwen2.5 VL, the company said. It could better understand input and create more precise images, accommodate open-ended instructions, and support multiple languages, including Chinese and English. A preview is now available on Qwen Chat. Qwen VLo also supports diverse input and output formats, offering increased flexibility for users and making it ideal for creating posters, illustrations, web banners, and social media covers. Alibaba owns the South China Morning Post. The new model adds to the intense competition in China's AI landscape, as rivals such as ByteDance and SenseTime strive to introduce their own multimodal models designed to interpret various types of input data, including text, video, and audio. In contrast, traditional AI models only handle one type of input. 10:41 How Hangzhou's 'Six Little Dragons' built a new Chinese tech hub How Hangzhou's 'Six Little Dragons' built a new Chinese tech hub Alibaba has been doubling down on AI and cloud computing, as it moves to streamline its sprawling operations. In February, the company pledged to invest more than 380 billion yuan (US$52 billion) in AI infrastructure over the next three years.
Nikkei Asia
a day ago
- Business
- Nikkei Asia
Trump to extend TikTok sale deadline for third time, White House says
U.S. President Donald Trump will again extend the deadline for China-based ByteDance to sell short-form video app TikTok. © Reuters WASHINGTON (Reuters) -- U.S. President Donald Trump will extend a June 19 deadline for China-based ByteDance to divest the U.S. assets of short video app TikTok for 90 days despite a law that mandated a sale or shutdown absent significant progress, the White House said on Tuesday. Trump had already twice granted a reprieve from enforcement of a congressionally mandated ban on TikTok that was supposed to take effect in January. "President Trump will sign an additional executive order this week to keep TikTok up and running," White House press secretary Karoline Leavitt said Tuesday.
Yahoo
a day ago
- Business
- Yahoo
YouTube's mobile video editor is coming to iOS
Google is preparing to bring YouTube Create to iOS devices nearly two years after the video editing app launched exclusively on Android. Job listings reviewed by TechCrunch reveal the company is actively hiring engineers in India for the iOS development project. The job postings show Google is recruiting software engineers in Bengaluru specifically to build the iOS version. The original Android app debuted in the U.S. and seven other markets in September 2023, then expanded to 13 more markets by February 2024. YouTube Create provides free mobile video editing tools designed for content creators, offering features like stickers, GIFs, and effects for both YouTube Shorts and longer-form videos. Google developed the app after consulting with 3,000 creators to ensure it met their needs. The app is Google's attempt to compete with ByteDance's popular CapCut editor. But exclusive Sensor Tower data shared with TechCrunch shows YouTube Create is quite far behind CapCut and another established competitor, InShot. The competition isn't even close. In the second quarter of this year, CapCut and InShot have been downloaded 66 million and 21 million times, respectively, on Android devices. In contrast, YouTube Create has seen fewer than 500,000 downloads this quarter, and just 4 million downloads since its launch. The user engagement gap is even more pronounced. CapCut boasts more than 442 million monthly active users on Android app in Q2, while InShot claims 92 million. YouTube Create lags far behind with fewer than one million monthly active users. On iOS — the platform YouTube Create is now targeting — the competition is just as fierce. CapCut leads with 194 million monthly active users in Q2, followed by InShot with 25 million. Meanwhile, CapCut and Instagram's Edit have dominated iOS downloads this quarter, with 28 million and 7 million downloads, respectively. Despite lagging in the numbers, YouTube Create shows some momentum, with a 28% year-over-year increase in monthly active users in Q2, outpacing a 9% rise for CapCut and a 7% decline for InShot, per the Sensor Tower data. 'While boasting solid user growth on a year-over-year basis, YouTube Create has struggled to keep up with some of its larger, more established peers such as CapCut, with the latter having more than 10x the number of monthly active users,' said Abe Yousef, a senior insights analyst at Sensor Tower. YouTube Create may be building a more loyal user base, Yousef suggested. Rising active user numbers alongside declining downloads could indicate that people who previously tried the app are returning to use it regularly. 'CapCut coming out many years ago, coupled with the fact that it's seamlessly integrated with its sister app, TikTok, likely plays into this material size difference with YouTube Create,' said Yousef. Still, YouTube Create is facing some retention issues. Its 90-day retention rate — the percentage of users who downloaded the app and still use it 90 days later — was roughly 1% in Q1, far below CapCut's 7% and InShot's 4%. Engagement metrics highlight the gap, too. Users spend an average of 38 minutes per month on YouTube Create, compared to 62 minutes for CapCut users. CapCut users also open the app more often, averaging 23 sessions monthly versus 11 for YouTube Create. Geographically, YouTube Create's user base is diversifying. India represented 67% of total monthly active users on YouTube Create in the second quarter of last year, but that share has dropped to 51% this quarter as the app gains traction elsewhere. Still, YouTube Create appears to be gaining stickiness in India, with daily-to-monthly active user ratios improving from 9% last year to, so far, 12% this year. In addition to India, Indonesia has emerged as YouTube Create's second-largest market, representing 21% of its global monthly active users. Germany (5%), Brazil (4%), and the UK (3%) round out the top markets. The app is showing particularly strong growth in several other markets, too, with year-over-year monthly active user increases of 119% in Spain, 91% in South Korea, 89% in France, and 71% in Singapore. 'An iOS release of YouTube Create could absolutely help the platform grow its market share, though fierce competition in the space both from other social media-backed video editing platforms and native video editors will persist,' Yousef said. Google did not respond to requests for comment. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
TechCrunch
a day ago
- Business
- TechCrunch
YouTube's mobile video editor is coming to iOS
Google is preparing to bring YouTube Create to iOS devices nearly two years after the video editing app launched exclusively on Android. Job listings reviewed by TechCrunch reveal the company is actively hiring engineers in India for the iOS development project. The job postings show Google is recruiting software engineers in Bengaluru specifically to build the iOS version. The original Android app debuted in the U.S. and seven other markets in September 2023, then expanded to 13 more markets by February 2024. YouTube Create provides free mobile video editing tools designed for content creators, offering features like stickers, GIFs, and effects for both YouTube Shorts and longer-form videos. Google developed the app after consulting with 3,000 creators to ensure it met their needs. The app is Google's attempt to compete with ByteDance's popular CapCut editor. But exclusive Sensor Tower data shared with TechCrunch shows YouTube Create is quite far behind CapCut and another established competitor, InShot. The competition isn't even close. In the second quarter of this year, CapCut and InShot have been downloaded 66 million and 21 million times, respectively, on Android devices. In contrast, YouTube Create has seen fewer than 500,000 downloads this quarter, and just 4 million downloads since its launch. The user engagement gap is even more pronounced. CapCut boasts more than 442 million monthly active users on Android app in Q2, while InShot claims 92 million. YouTube Create lags far behind with fewer than one million monthly active users. Image Credits:Jagmeet Singh / TechCrunch On iOS — the platform YouTube Create is now targeting — the competition is just as fierce. CapCut leads with 194 million monthly active users in Q2, followed by InShot with 25 million. Meanwhile, CapCut and Instagram's Edit have dominated iOS downloads this quarter, with 28 million and 7 million downloads, respectively. Techcrunch event Save $200+ on your TechCrunch All Stage pass Build smarter. Scale faster. Connect deeper. Join visionaries from Precursor Ventures, NEA, Index Ventures, Underscore VC, and beyond for a day packed with strategies, workshops, and meaningful connections. Save $200+ on your TechCrunch All Stage pass Build smarter. Scale faster. Connect deeper. Join visionaries from Precursor Ventures, NEA, Index Ventures, Underscore VC, and beyond for a day packed with strategies, workshops, and meaningful connections. Boston, MA | REGISTER NOW Despite lagging in the numbers, YouTube Create shows some momentum, with a 28% year-over-year increase in monthly active users in Q2, outpacing a 9% rise for CapCut and a 7% decline for InShot, per the Sensor Tower data. 'While boasting solid user growth on a year-over-year basis, YouTube Create has struggled to keep up with some of its larger, more established peers such as CapCut, with the latter having more than 10x the number of monthly active users,' said Abe Yousef, a senior insights analyst at Sensor Tower. YouTube Create may be building a more loyal user base, Yousef suggested. Rising active user numbers alongside declining downloads could indicate that people who previously tried the app are returning to use it regularly. 'CapCut coming out many years ago, coupled with the fact that it's seamlessly integrated with its sister app, TikTok, likely plays into this material size difference with YouTube Create,' said Yousef. Still, YouTube Create is facing some retention issues. Its 90-day retention rate — the percentage of users who downloaded the app and still use it 90 days later — was roughly 1% in Q1, far below CapCut's 7% and InShot's 4%. Engagement metrics highlight the gap, too. Users spend an average of 38 minutes per month on YouTube Create, compared to 62 minutes for CapCut users. CapCut users also open the app more often, averaging 23 sessions monthly versus 11 for YouTube Create. Geographically, YouTube Create's user base is diversifying. India represented 67% of total MAUs on YouTube Create in the second quarter of last year, but that share has dropped to 51% this quarter as the app gains traction elsewhere. Still, YouTube Create appears to be gaining stickiness in India, with daily-to-monthly active user ratios improving from 9% last year to, so far, 12% this year. In addition to India, Indonesia has emerged as YouTube Create's second-largest market, representing 21% of its global monthly active users. Germany (5%), Brazil (4%), and the UK (3%) round out the top markets. The app is showing particularly strong growth in several other markets, too, with year-over-year monthly active user increases of 119% in Spain, 91% in South Korea, 89% in France, and 71% in Singapore. 'An iOS release of YouTube Create could absolutely help the platform grow its market share, though fierce competition in the space both from other social media-backed video editing platforms and native video editors will persist,' Yousef said. Google did not respond to requests for comment.
