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It's exactly how I read it too.

"Instead it was interpreted by many that we were going to sell your photos to others without any compensation. This is not true and it is our mistake that this language is confusing. To be clear: it is not our intention to sell your photos. [But these changes means we could if we wanted]"

"Ownership Rights: Instagram users own their content and Instagram does not claim any ownership rights over your photos. [Not that it matters]"

It's all misdirection.




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