The European Union on Wednesday asked Snapchat, TikTok and YouTube for more details about their respective content advice algorithms, activities covered by the EU’s online governance rulebook, the Digital Services Act (DSA).

In press release The commission said it had sent requests for information to a few social media platforms, asking them for more details in regards to the design and functioning of their algorithms. The trio had until November 15 to supply the info they were on the lookout for.

The EU said their responses would inform further steps, comparable to potentially opening a proper investigation.

The bloc’s web governance framework includes tough penalties for violations (as much as 6% of world annual turnover). It applies a further layer of systemic risk mitigation principles to a few platforms on account of their designation as VLOPs (i.e. very large online platforms).

These regulations require larger platforms to discover and mitigate risks that will arise from their use of artificial intelligence as a content advice tool, with the law stating that they need to take motion to stop negative impacts in a variety of areas, including health users’ mental health and civil discourse. The EU also warned that algorithms designed to extend engagement may lead to the spread of harmful content. This appears to be the main target of the most recent RFIs.

“Questions also concern the measures used by platforms to mitigate the potential impact of their recommendation systems on the spread of illegal content, such as the promotion of illicit drugs and hate speech,” the EU added.

In the case of TikTok, the Commission is requesting more detailed information on the anti-manipulation measures implemented to stop malicious actors from using the platform to spread harmful content. The EU can be asking TikTok for more information on tips on how to mitigate risks related to elections, media pluralism and civil discourse – systemic risks it says might be amplified by advice systems.

These latest requests for proposals aren’t the primary that the Commission has sent to the three platforms. Earlier DSA questions included questions to the trio (and several other VLOPs) about electoral threats ahead of the European Parliament elections earlier this yr. He also previously questioned all three about child protection issues. Additionally, last yr the Commission issued a request for proposals to TikTok asking how TikTok would reply to threats related to content related to the war between Israel and Hamas.

However, the ByteDance platform is the one one in all three social media products under formal DSA investigation to date. In February, the bloc launched an investigation into TikTok’s DSA compliance, expressing concern over a variety of issues including the platform’s approach to fine-grained protection and its management of the chance of addictive design and harmful content. This investigation is ongoing.

TikTok spokesperson Paolo Ganino emailed TechCrunch an announcement confirming the motion: “This morning we received a request for information from the European Commission, which we will now consider. We will cooperate with the Commission throughout the RFI process.”

We also contacted Snap and TikTok for responses to the Commission’s latest requests for information.

DSA’s VLOP rules have been in place since late last summer, however the bloc has yet to finish any of several probes it has opened on larger platforms. However, in July, the Commission presented preliminary findings related to certain investigations into X, stating that it suspected that the social networking site violated the DSA’s dark pattern design principles; providing researchers with access to data; and transparency of promoting.

Peak XV, the biggest enterprise capital firm operating in India and Southeast Asia, is reducing the size of a few of its funds and lowering fees as it looks to “engage more deeply” with its limited partners.

The company, which secured $2.85 billion in capital commitments totaling $2.85 billion in mid-2022, informed its supporters Tuesday evening that it was releasing them from $465 million in capital commitments from legacy funds, in response to an investor letter obtained by TechCrunch for 2022.

The enterprise capital group, which stays the biggest within the region, is just not only cutting growth and multi-stage funds – it closed five of them in 2022 – but can be reducing the fees it charges sponsors, lowering management fees to 2% and the share of interest it charges from profits, as much as 20%, in comparison with 2.5% and 30% respectively.

There is a caveat regarding performance. Peak XV will maintain its interest adjustment provisions of as much as 30% upon reaching thrice its paid-in capital to paid-in capital ratio, the letter said. The economics of seed and enterprise capital funds remain unchanged.

Peak XV didn’t comment.

The move comes greater than a yr after Peak XV separated from Sequoia. The well-known enterprise capital firm said it was disconnecting from its units in China, India and Southeast Asia to avoid market conflicts and misunderstandings amid geopolitical tensions between Washington and Beijing.

Peak XV’s decision reflects a broader trend within the enterprise capital industry, wherein many firms have either reduced the size of recent funds or have struggled to lift their goal amounts lately following a correction following a 13-year bull run within the technology sector.

Rationale for Peak XV is driven by growing concerns in regards to the uncertain performance of the general public market in India and the perceived paucity of venture-scale opportunities within the near future. The letter said he stays optimistic in regards to the region, saying the changes being made higher align the corporate with its supporters.

Macquarie analysts recently noted that India’s price-to-earnings ratio is around 21 times in comparison with 10 times for emerging markets overall, 14.5 times for global markets, 17 times for the US and 8 times for the case of China. This yr, India saw more technology initial public offerings than the US

Peak XV’s fund size exceeds that of its competitors in India. Lightspeed’s latest India-focused fund is valued at $500 million, while Accel closed its latest India fund at $650 million. Matrix, Elevation and Nexus raised $550 million, $670 million and $700 million, respectively, of their latest funding.

Peak XV began its journey in India over a decade ago. The letter revealed that the corporate has made $10 billion in realized and unrealized profits so far. As TechCrunch reported last week, the corporate has made about $1.2 billion in exits since separating from Sequoia last yr.

Peak XV’s dominant position within the region was met with praise and criticism. The company’s Surge program, which offers early-stage startups favorable conditions and extensive resources, has develop into a desirable place to begin for young startups in India and Southeast Asia, somewhat overshadowing the attractiveness of Y Combinator’s offer.

Earlier this yr, the corporate also revealed plans for an endowment fund backed by its own partners.

Since its inception, Peak XV has amassed $9 billion in assets under management, with a further $2 billion remaining to be deployed. Its portfolio includes over 400 firms, including over 50 unicorns and roughly 40 firms with annual revenues exceeding $100 million.

As of 2020, 15 of its portfolio firms are listed on public markets, ahead of other India-focused enterprise capital funds.