TikTok profits from livestreams of families begging

Re:TikTok profits from livestreams of families begging by view on Thursday October 13, 2022 @12:44PM (#33193470)

I think their system works like this:

You buy two coins for $0.02 and they give one diamond or $0.01 to the recipient. This looks like a 50% cut but after App Store fees and taxes it's more like 25%.

Still bad but not 70% as implied in the article.

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Re:TikTok profits from livestreams of families begging by ravel-bar-foo on Friday October 14, 2022 @12:57AM (#33199796)

> BBC staff in London sent TikTok gifts worth $106 from another account. At the end of the livestream, the balance of the Syrian test account was $33.

So you think this is because of quantization at the level of cents in the unit of account?

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Re:TikTok profits from livestreams of families begging by view on Friday October 14, 2022 @04:06AM (#33200845)

> while the company takes up to 70% of the proceeds, a BBC investigation found.

I’m thinking it’s not possible for TikTok to take 70% of the proceeds if there’s App Store fees and sales taxes / VAT involved.

But please show me the math if I’m wrong.

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