The Walt Disney Company on Friday sent a cease-and-desist letter to ByteDance, alleging the Chinese tech giant has been infringing on its works to train and develop an AI video generation model without compensation, according to a copy of the letter obtained by Axios.Why it matters: It's the most serious action a Hollywood studio has taken so far against ByteDance since it launched Seedance 2.0 on Thursday. Zoom in: The letter, addressed to ByteDance global general counsel John Rogovin, accuses ...