Being a US-based company doesn't make this any better, just look at Facebook.
The only people who worry are people on HN. Most other people aren't aware of what's going on, or just don't care.
Letting that on your phone is allowing your contacts, photos and text messages to be read.
Same goes with facebook. But facebook will try to profit off of your data. Tiktok data goes to China. I don't know what they are doing with it..
FB data also goes to the US government. I don't know what they are doing with it..
One reason China does it to monitor and control their own people. Speaking out against China in the west will often put family in China at risk and any business interests. Monitoring journalist, tracking western movement, cyberwar faire, are all reasons.
China want to blackmail me to do their bidding. I dont actually have much shame, so probably wont work so good.
There are days where I think the lesser of two evils when it comes to invading my privacy might be the regime whos jurisdiction I am not, and likely never will be present in.
Where does it read text messages?
I wouldn't be nearly as worried if Tiktok were owned by Italy or Germany or France. But China, with it'a ongoing genocide of Muslims and totalitarian oppression, yeah that is worse than Netflix selling your data to advertisers.