Chinese AI company Bytedance, TikTok's parent company, is the highest valued startup – actually a private, up-and-coming business – in the world, according to CB Insights. The $140 billion company operates Toutiao content platform in China, which uses machine learning to customise a newsfeed out of conventional and new media outlets for each individual audience. The US government announced earlier this summer that it was considering banning Chinese social media applications, including the widely popular TikTok app.
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