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China

Beijing Tightens Grip on ByteDance by Quietly Taking Stake, China Board Seat (theinformation.com) 31

Posted by msmash from the closer-look dept.
For months, China has sought to bring its bustling internet sector to heel with an intensifying series of antitrust crackdowns and data security probes. In one example that hasn't been previously reported, the Chinese government in April quietly took a stake and a board seat in TikTok owner ByteDance's key Chinese entity, according to corporate records and people with knowledge of the matter. The Information (paywalled): The move gives Beijing more insight into the inner workings of ByteDance, the world's most valuable privately held tech company, which owns some of the most popular apps in China, such as Douyin and Toutiao, along with TikTok. The government's right to one seat on a three-person board of directors at Beijing ByteDance Technology, which holds Chinese business licenses related to Douyin and Toutiao, raises questions about how much more influence Beijing can exert over ByteDance as a whole.
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Beijing Tightens Grip on ByteDance by Quietly Taking Stake, China Board Seat More

Beijing Tightens Grip on ByteDance by Quietly Taking Stake, China Board Seat

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  • Chinese company is run by the Communists?! (Score:5, Funny)

    by memory_register ( 6248354 ) on Monday August 16, 2021 @09:46AM (#61697195)
    Im shocked, shocked I tell you!

    • Re: (Score:3)

      by e3m4n ( 947977 )
      theres more mod points than comments being thrown around this morning. 3 comments so far and all them them already modded to zero. Chinese bots must be working overtime. I saw nothing in your comment deserving of a down-mod. Last I checked you arent supposed to mod things down just because you have a different opinion.
    • Does it matter really who is operating the company. Everyone is in the same game DATA, DATA DATA! When you are the product and not the client what should you expect. Social media is not free, you pay with your privacy by providing essentially an unlimited amount of information about you and everything and everyone around you. Companies then give you toys to play with whilst they sit back and learn more about human behavior in a day then all the scientists put together over a century. Sad reality is we n
    • No, I don't think China is practicing communism. Rather, the worst sides of fascism and capitalism...
  • Main link in the story is paywalled. Anyone has an alternate?

    • Similar summary posted by Reuters.

      https://www.reuters.com/techno... [reuters.com]

      At the moment it looks like one of the hazards of doing business in China is government interference. Arbitrary arrest of foreign nationals for 'spying/national security' is not new, but seems to be more common in China these days. Chinese nationals will be arrested for 'corruption' instead. Their judicial system has a conviction rate of over 99%, so once you're arrested you will be going to jail for a long time whether you're guilty or not.

  • How much more government influence? (Score:5, Insightful)

    by bartwol ( 117819 ) on Monday August 16, 2021 @10:11AM (#61697259)

    raises questions about how much more influence Beijing can exert over ByteDance as a whole

    Seriously? There's a question of how much more influence Beijing can exert over ByteDance? I don't think so.

    There is no limit to the influence the Chinese government can, and if it so chooses, WILL exert over any entity within its domain. The Party is superior, not only to all institutions, but to all principles including its own.

  • Linguistically speaking of course. It's about time they began to teach Chinese languages to North Americans. The largest disadvantage we have is they can speak many languages, Americans can barely speak English.
    • That's because most Americans will soon be of Latino origin, sparking a Second Civil War.
      • Nothing wrong with Spanish, here in Canada we are officially French and English
        • I agree wholeheartedly.

          Until they become the dominant ethnic group. Then the shit hits the fan. Most people don't understand that the rise of Trump is the canary in the coalmine for the instability coming to the United States in the coming decades. The white majority will resist the Latino minority becoming the dominant ethnic group.

          There will be blood.
          • Then you should have more children. Here in Canada we would have went extinct but for immigration. More people die then are born in Canada. I assume the same is true for certain areas of the USA. The only segment of the Canadian population that is growing is our First Nations people and they are oftentimes the poorest people financially.

  • I didn't realize they had to report to you.

    Thanks for reporting your mindset to us, though. :)

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