TIKTOK, A CHINESE-OWNED short-video app no Western teenager can do without these days, stresses its independence from the authorities in Beijing. Its parent company, less so. Bytedance, whose $75bn valuation makes it the world's biggest unlisted startup, has just teamed up with Shanghai Dongfang Newspaper Company, a state-run publisher. The joint venture, in which Bytedance holds a 49% stake, will, among other things, develop technologies such as artificial intelligence (AI).
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