No, they don't? There are very few companies that record your phone calls/video calls, then transcribe them into text. Then store the data for themselves. This includes any data that we shared in the session. Why can't Zoom just come out and explain why they do this? Seems pretty simple. If you asked me?
This is what scares most security analysts is the fact that the product was developed and stores data in a place that has incredibly sketchy laws when it comes to intellectual property.
I can't see why Zoom can't come out with a statement regarding why they are collecting all of this sensitive data.
Big corporations might be sharing stuff unwittingly with people that they don't want to share it with.
"In addition, we have a high concentration of research and development personnel in China, which could expose us to market scrutiny regarding the integrity of our solution or data security features. Any security compromise in our industry, whether actual or perceived, could harm our reputation, erode confidence in the effectiveness of our security measures, negatively affect our ability to attract new customers and hosts, cause existing customers to elect not to renew their subscriptions or subject us to third-party lawsuits, regulatory fines or other action or liability, which could harm our business."
From security perspective, Companies do not like the fact that Zoom was developed in China and the vast majority of its R&D is still in China. China has different rules on security than many other countries. Particularly surrounding intellectual property. https://www.sec.gov/Archives/edgar/data/1585521/000119312519...
"Top of page 21- In addition, we have a high concentration of research and development personnel in China, which could expose us to market scrutiny regarding the integrity of our solution or data security features. Any security compromise in our industry, whether actual or perceived, could harm our reputation, erode confidence in the effectiveness of our security measures, negatively affect our ability to attract new customers and hosts, cause existing customers to elect not to renew their subscriptions or subject us to third-party lawsuits, regulatory fines or other action or liability, which could harm our business."
Why do they have to record calls? Transcribe the call into text then Store it. Why do they need to take copies of whiteboards and PowerPoint’s it’s does not make sense.
Mistake? whoops