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Philips Hue will force users to upload their data to Hue cloud - Home Assistant
(www.home-assistant.io)
Home Assistant is open source home automation that puts local control and privacy first. Powered by a worldwide community of tinkerers and DIY enthusiasts. Perfect to run on a Raspberry Pi or a local server. Available for free at home-assistant.io
I guess "share a lot of information" means name+password of your wifi...
And as they'll use mobile app, potentially a metric shit ton of more. Location, contacts, usage patterns, make/model of phone, other connected devices on your wifi and the list goes on and on. I'm not sure if they actually get everything they can like tiktok, but atleat theoretical possibility exists.