The concerns over TikTok's data privacy are real. They also extend far beyond TikTok to all of social media. TikTok isn't stealing users' information as much as they are (unwittingly) giving it to the app. The US doesn't have strong data privacy legislation. Until that happens, users will constantly face the threat of their data being used by a slew of unknown parties with interests ranging from the benign to the nefarious.
The easiest way to answer this is, "No, because data is power." This is NOT a matter of user information being stolen. This is a case of data being used to amplify dangerous content on the platform seen by an influential audience of 12-18 year olds in the US. According to the Center for Humane Technology, whistleblowers from the US operations version of TikTok revealed algorithmic practices in which TikTok has chosen what content to promote and demote. This included demoting content that critiqued the Chinese Communist Party, as well as content by people based on their race, age, ability, and more. TikTok’s parent company, ByteDance, is based in China, which raises significant concerns about how TikTok might be used for surveillance and algorithmic manipulation. We've already learned from the last 15 years how social media can serve as a political weapon to influence real world events and shape global culture, political movements, and the economy.
TikTok, like any social media platform, has had its fair share of concerns regarding user privacy and data security. TikTok has also implemented additional security measures such as introducing a new feature to allow users to filter comments on their videos, limiting the amount of user data that is accessible to third-party apps, and providing users with more control over their data. While no online platform can guarantee 100% safety, TikTok has taken steps to address user concerns regarding data privacy and security. As with any social media platform, it is essential to use caution and be mindful of the information that is shared on the app.