One of the drivers of economic development is stability and predictability.
Singapore understands this.
Ownership rules are clear, and if under dispute, the courts are viewed as reasonable and fair. Business rules are predictable, you don't have to worry about making an investment based on assumptions that no longer hold next year.
China is the opposite as of the last few years. It's no surprise capital goes elsewhere.
Is it, though? China isn't immune from bad economic policy, but its per capita GDP growth still remains globally impressive[0]. In spite of recent difficulties they're still on an amazing trajectory.
Sure, maybe their chickens are about to come home to roost and they're finally in for a reckoning. I feel like that's the wrong take, though. We've spent the last 30 years with a smirk on our face waiting for China to realize their mistake of eschewing democracy and liberal economics. Somehow they've become the second most powerful nation in the world instead.
They're playing an entirely different game, over there. We underestimate them at our own peril.
Is this data actually correct? Looks China is still doing just fine on the tech side, landing a rocket, LLM model that topped coding challenges, robots that are significantly outperforming boston dynamics.
Is it just that those companies were founded during the peak?
I think ad-tech has been a massive disaster for our society. I quit Instagram recently, I logged on the other day to message someone in the walled garden, I was shocked at what I saw and I couldn't believe I spent any time on it at all!
because they are the best ad tech. ads are about modifying behavior via external stimuli. instead of advertisers trying to affect behavior, its the government leveraging a social credit system to affect behavior.
I guess if people can’t be rich with government funny money, they will just accumulate IOU’s from each other. Maybe automate the system in a decentralized ledger that avoids counterparty risk. Oh wait…
Of course tiktok, byd ev’s, solar, ai models coming out of China are doing fine, so it’s not all bleak.
> Founders are also now required to be personally liable for their company’s loans.
"Limited Liability" coupled with Venture capital, which was willing to take risky bets, was one of the greatest innovations unshackling a lot of entrepreneurship.
> Whow. They introduced accountability! That would be incredibly harmful to all the crooks out there.
Be careful what you wish for. Founders being personally liable essentially means you are going to get only a fraction of startup activity.
Trap for young players: don’t read anything in western world on China. It’s mostly propaganda, misdirection, political games and the like. In other words, pure bullshit if you’re not in the in-crowd to pick up the jokes that TPTB are sending to each other by posting absurd things.
>don’t read anything in western world on China. It’s mostly propaganda, misdirection, political games and the like.
Nonsense. Sure, there's lots of bad reporting about China in the West but generalizing as you do is as absurd as swallowing the latest from Fox News and taking it as gospel. There's also lots of astute, reasoned and well-analyzed reporting about China in the west and elsewhere.
For example, about the region of the world I've been living in for nearly two decades, I see lots of excellent reporting, and much of it comes from external sources; some of the best in fact. It's possible to do this without being within a given system.
What alternative sources should people use for China then? Name a few instead of lazily criticizing to feel superior.
Is there really an incentive for startups in China today compared to 4 years ago? Look what the government there has done to very rich and influential people in just the last few years. Once you have achieved your goal of building a great business, it can all be taken away from you overnight while you rot in a jail cell. Might as well take it easy and at least enjoy your life instead of losing ten prime years to a hard grind for nothing.
refurb|1 year ago
Singapore understands this.
Ownership rules are clear, and if under dispute, the courts are viewed as reasonable and fair. Business rules are predictable, you don't have to worry about making an investment based on assumptions that no longer hold next year.
China is the opposite as of the last few years. It's no surprise capital goes elsewhere.
gary_0|1 year ago
Is it, though? China isn't immune from bad economic policy, but its per capita GDP growth still remains globally impressive[0]. In spite of recent difficulties they're still on an amazing trajectory.
Sure, maybe their chickens are about to come home to roost and they're finally in for a reckoning. I feel like that's the wrong take, though. We've spent the last 30 years with a smirk on our face waiting for China to realize their mistake of eschewing democracy and liberal economics. Somehow they've become the second most powerful nation in the world instead.
They're playing an entirely different game, over there. We underestimate them at our own peril.
[0] https://en.wikipedia.org/wiki/List_of_countries_by_real_GDP_...
aeternum|1 year ago
Is it just that those companies were founded during the peak?
mensetmanusman|1 year ago
Easier to have zero business leaders that might tip the boat with suggestions.
This is ‘let it rot’ in action.
bamboozled|1 year ago
I think ad-tech has been a massive disaster for our society. I quit Instagram recently, I logged on the other day to message someone in the walled garden, I was shocked at what I saw and I couldn't believe I spent any time on it at all!
pseudosaid|1 year ago
musicale|1 year ago
well that's one thing we can agree on.
naveen99|1 year ago
Of course tiktok, byd ev’s, solar, ai models coming out of China are doing fine, so it’s not all bleak.
rurban|1 year ago
> Founders are also now required to be personally liable for their company’s loans.
> Hard to imagine why anyone would start a company under these conditions.
Whow. They introduced accountability! That would be incredibly harmful to all the crooks out there.
Well done
RestlessMind|1 year ago
"Limited Liability" coupled with Venture capital, which was willing to take risky bets, was one of the greatest innovations unshackling a lot of entrepreneurship.
> Whow. They introduced accountability! That would be incredibly harmful to all the crooks out there.
Be careful what you wish for. Founders being personally liable essentially means you are going to get only a fraction of startup activity.
stonethrowaway|1 year ago
southernplaces7|1 year ago
Nonsense. Sure, there's lots of bad reporting about China in the West but generalizing as you do is as absurd as swallowing the latest from Fox News and taking it as gospel. There's also lots of astute, reasoned and well-analyzed reporting about China in the west and elsewhere.
For example, about the region of the world I've been living in for nearly two decades, I see lots of excellent reporting, and much of it comes from external sources; some of the best in fact. It's possible to do this without being within a given system.
What alternative sources should people use for China then? Name a few instead of lazily criticizing to feel superior.
blackeyeblitzar|1 year ago
Prbeek|1 year ago
abdullahkhalids|1 year ago
yen223|1 year ago