The Great Firechat

Episodes

• #35 - Tencent lies low while Bytedance soars, and the "QQ-verse"

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  Nov 25 2021

  As Tencent and the rest of big China tech continues to suffer from the gov crackdown, Bytedance revenue soars. However, Tencent may just be lying low and contemplating their next move as the company seems surprisingly well equipped for the metaverse and future of tech.1) Bytedance still growing strong with 60% revenue growth2a) Gov crackdown begins to traverse time into the past2b) Big China tech struggling to play nice and open up3) Tencent is lying low - quarterly revenues lowest since 2004 4) Into the metaverse - Tencent has been doing this for two decades...more

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• #34 - Goodbye, LinkedIn. Hello, synthetic celebrities.

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  Oct 28 2021

  This week we talk about more Western tech companies pulling out of China, this time a big and successful one; Microsoft's LinkedIn.We go deep into the real industry of fake virtual celebrities, talk about Alibaba's waning eCommerce dominance, and end with impending regulation to open up content for search engines which would be a great boon to Baidu, the once massive Google-like search engine which has struggled to remain relevant the past half decade.1) MSFT pulls the plug on LinkedIn China2) The growing synthetic media business (like the 2013 movie "The Congress")https://www.36kr.com/p/1456252888033415Porsche invests in iMaker Virtual human start-up Next Gen raises $5 million in round A More on the industry in China Lil MaquelaExtra: Deep fakes of celebs3) $BABA is losing e-comm market share - and it's not just regulations4) Beijing may force tech companies to share data for search...more

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• #33 - Fines, elevators, and algorithms

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  Oct 14 2021

  This week your co-hosts discuss Meituan's anti-trust fine, JD.com's foray into elevator ads and pets, and then go a little deep on the responsibility platforms have for their algorithms. This is especially timely as Facebook's whistleblower cries foul in the US, while China implements policy holding products responsible for their algorithms.1 Meituan's anti-monopoly probe ends with a USD534M fine 2 JD and Baidu jointly invest $400mn in elevator ads biz now worth >$2bn. 3 JD.com make Internet Hospital for Pets4 Algorithm rules get more clear...more

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• #32 - 1 billion online, tech crackdown and how to deal with it

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  Oct 01 2021

  This week Kevin and Adeh delve deep into China's tech crackdown. The crackdown has wiped hundreds of billions off the value of China's tech companies - is this the end or the beginning?Your hosts review the crackdown to date, examine how companies are mitigating the current risks, and grapple with convoluted metaphors to predict how this will all play out.China has over a billion internet usersChina's tech crackdownSummary of Tech CrackdownAli and Tencent agree to work togetherWalls are coming downBeijing to break up Alipay, separate Loans appAnt's spinoff will share data with GovAlibaba feelin' the squeeze from the crackdownChina orders Alipay and WeChat Pay to disclose IPOs, new products and int.l partnershipsWhat's next? Li Guangman's opinion pieceGames:No new games! (or 'slow' new games!)Tencent gaming global investments sevenfold increaseNetEase invests $120M in global gaming hub 'Kepler'...more

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• #31 - Inside China's Gaming Industry with Pidou

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  Sep 09 2021

  As Beijing releases unprecedented restrictions on gaming in China, Adeh and Kevin chat with their friend "Pidou" from one of China's biggest gaming companies.Your co-hosts get the inside story of how this and other recent changes are affecting the industry. They also examine a few clues and guess at which industry will be impacted next.China bans minors from video games for more than 3 hours per week  Shares of Tencent and NetEase fell last month after release of Chinese state media article calling online gaming “opium.”China gov releases guidelines to control addictive algorithmsChina tech world's infamous 996 work schedule becomes illegal...more

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• #30 - Understanding China's New Data Privacy Law

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  Aug 27 2021

  This week Kevin and Adeh discuss Tencent's continued domination of mobile games, and then delve deep into the Chinese governments newest policies and actions, all of which aim to rein in China's tech sector.China's newest personal data privacy law is a good step for the people of China, and begs the question; now that the EU, China, and the state of California all have basic data privacy laws, when will the United States as a nation get one?Tencent's PUB-G and Honor of the Kings are top two grossing mobile games globallyChinese Gov takes 1% stake in BytedanceChina's new personal data privacy security lawMore on new policy around data infrastructureTim Hortons China making separate China entity to go public...more

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• #29 - China Tech in Limbo AND a special interview with JinYao Desandies

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  Aug 13 2021

  This week your co-hosts analyze China's tech world's new norm; strong government regulation. There hasn't been too much in the news, why? Tech in China is all going quiet. IPOs are being cancelled, partnerships on hold, and more. When uncertainty abounds, China prefers to lay-low until the dust settles.Also, Kevin has a chat with JinYao Desandies, Adeh's 14-year old son. JinYao has a great balanced perspective because he speaks eloquently in English, but spends most of his days speaking Mandarin with his local friends. Jinyao provides his views on the private education crackdown, and what kids in China are thinking about in regards to tech.Meituan fined 1 billionTencent SuedIt's not over yet...Douyin food delivery functionEducation - VIPkid to stop offering "foreign-based" tutoring coursesBytedance slashes ed tech headcount...more

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• #28 - Abolishing Forced Child Learning

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  Jul 30 2021

  This week we discuss the directorate that has upended China's private education sector. For decades, private tutoring sector had been a hotbed for investment, since the pandemic began it has become one of the fastest growing sectors in China.The new directorate dumps all of investment heat into a big bucket of ice cold water. It's not game-changing, it's game-ending. This is woeful news for investors, but likely welcome news for parents and kids across China.We also touch on the latest from China's digital yuan and answer some listener questions about Huawei and China's cloud.Links:New directorate upturns private education sectore-CNY hits 5.3B in transaction volumee-CNY whitepaper (Chinese)Alibaba / Tencent face the e-CNY...more

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• #27 - Tech Monopolies Opening up from Shenzhen to Silicon Valley

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  Jul 22 2021

  This week your co-hosts delve deep into the anti-monopoly crackdown which continues in both China and the US. Each side's government commonly say they are helping the 'little guys', but is this actually good for start-ups? Is it good for the respective nations as a whole? What will be the repercussions?Then we touch on the interesting other US-China affair of Chinese companies listing on US stock markets. Lastly we end on XiaoMi - the 'little' start-up is back and bigger than ever.The anti-monopoly end game:Alibaba and Tencent opening up walled gardensAlibaba, Tencent, Bytedance and 33 others sign anti-trust self discipline agreementUS IPO? No, no, no.China tightens cybersecurity review process on overseas IPOsXiaoHongShu (RED) suspends US IPO thoughtsXiaoMi is a buy!XiaoMi becomes second largest seller globally of smartphones...more

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• #26 - End of 996, Didi and Bytedance's IPO conundrum, and a quirky AI

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  Jul 16 2021

  Last week, Adeh and Kevin guessed that the end was nigh for China tech's notorious 996 work schedule, they just didn't realize how quickly it would happen.Their guesses were a little less accurate with Didi. Beijing continues to increase scrutiny of overseas investment and Didi is caught in an awkward place as competitors start to swoop in to take advantage of the situation.Lastly Beijing blocks a Tencent-backed merger in live-stream gaming and a quirky Microsoft AI spin-off in China is taking off.Bytedance ending 996 work scheduleMeituan ends weekend work China tightens security on overseas IPOs after DidiBytedance shelves IPO ambitionsMeituan relaunches ride-hailing app amid Didi investigationChina gov blocks Tencent-backed merger of video-game live streaming platforms Huyu and DouyuXiaoIce closes series A above $1bn mkt value...more

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• #25 - Didi trounced and China Tech's "Involution"

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  Jul 09 2021

  This week your co-hosts go for the Didi hatrick as the car-hailing company finds itself in the middle of a geo-political tik-tok match. Adeh explains the nuance of the term 内卷 neijuan, or involution, and Kevin tells us what went on during those long long hours working at WeChat.Didi gets pulled from App stores as Beijing probes their security practices.Two other recent US IPOs, Full Truck Alliance and BOSS Zhipin get hit in the same way.And now shareholders are filing lawsuits against Didi - putting them between a rock and a hard place.Big tech is also dealing with their workforce pushing back against the 996 culture.Today's graduates are becoming increasingly disillusioned about the future.BONUS: China's Glassdoor...more

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• #24 - Jack Ma to share data, Didi's weak IPO, and it's time for tea!

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  Jul 01 2021

  This week Adeh and Kevin discuss Ant Financials' talks to share data for credit-scores with state-owned banks, and how this reflects trends we're seeing globally. They also talk about Didi's IPO which was not as big as expected, and the latest tea craze as tea brands score an increasing amount of investment and consumer interest.Ant Financial (Alibaba) to share data with banks (and gov)Didi lackluster IPO at $62 billion, but still a big playerTea mania in China!HeyTea new round of funding at $9.27 Billion USDTea brand 椿风 pre-A funding at tens of millions RMBTea brand CHALI茶里 latest funding round hundreds of millions RMB, led by GGV...more

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• #23 - Deep dive into Didi IPO (and China's selfie on Mars)

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  Jun 18 2021

  This week your co-hosts deep dive into the Didi IPO. What can we expect? Will Didi outshine Uber? What sets Didi and Uber apart? In any case, Adeh is ready to welcome our robotaxi overlords, and Kevin wants to serenade them. Didi looking to raise up to 10 billion USD in a US IPOChina's rover takes a selfie on marsBONUS: A startup already stole Kevin's idea to democratize pre-IPO investing

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• #22 - 3-child policy, AI, and castles in the sky

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  Jun 10 2021

  This week your hosts Adeh and Kevin discuss the impact (or lack there of) of the 3-child policy, then delve into the latest in AI, Huawei's herculean effort to develop a new operating system, and Bytedance and Tencent's squabbles. They also examine the competitive industry of 3rd-party server infrastructure which has become more like 'castles in the sky' rather than 'the cloud'.China sets 3 child policyChinese AI researchers release a new multi-modal that's even bigger than PanGuTencent and Bytedance squabble; Bytedance's big post on WeChat, and Tencent calls short-videos "pig feed"Alibaba Cloud investing 1$ billion USD in APAC (mostly SEA)Huawei making moves; aims to unroll HarmonyOS on hundreds of millions of phones by end of this year...more

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• #21 - How the Five-Year Plan impacts tech

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  Jun 04 2021

  This week your co-hosts dip back into current 5-year guideline to make sure we have a clear picture what's coming next in China. Then we take a look at Meituan's latest quarter, find holes in the great firewall, and talk about Kevin's misadventures in ed-tech. Listen now and join the conversation.The government's crackdown on Big Tech is a lever to get them to invest into the 5-year guidelines.Meituan's revenue jumps 120%, while the stock is down 40%.More anti-trust / anti-monopoly fines for the comminuty group buy grocery market.Alibaba and Tencent both have "internet accellerators" to help students access information from outside the GFW.New regulations in ed-tech attempt to reign in a fast growing sectorExtra: Startups, join this global competition for funding and connections to China's hopping startup scene: HICOOL....more

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• #20 - The Five-Year Plan with Leon Du

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  May 29 2021

  Today your co-hosts are joined by Leon Du, CEO of tech company Beansmile, to discuss the 14th 5 year plan and what it means for anyone looking to work in or with China. We all learn a lot about the history, the impact, and the mechanics behind one of China's major tools of government. We also learn a lot about what it means to be open, to be honest with yourself - and how to be a lovely human.Tencent is clearly establishing itself as a world class technology company with $7.6 billion in profit for the quarter. Facebook reported $9.4B, Alibaba $1.6B (without fine).https://www.scmp.com/tech/big-tech/article/3134177/tencent-posts-65-cent-rise-first-quarter-profit-amid-tighteningThe full text of the 14th 5 year plan, in Chinese.http://politics.people.com.cn/n1/2021/0313/c1001-32050444.htmlSelected translations https://pekingnology.substack.com/p/select-translations-of-the-14th-fypA brief summary from the Chinese press, in Englishhttps://news.cgtn.com/news/2020-11-07/What-is-China-s-14th-Five-Year-Plan-all-about--VdWpPn4CqI/index.html  A piece from the New York Timeshttps://www.nytimes.com/2021/03/10/business/china-us-tech-rivalry.htmlBONUS: Current ongoing US legislation which is clearly a pointed response to Beijing's 5-year planhttps://www.cnbc.com/2021/05/25/chip-shortage-democrats-gop-team-up-to-target-china.htmlWe'd also like to thank our wonderful guest, Leon Du, for sharing his time and his knowledge. His excellent company builds e-commerce tools and payment solutions to support the goal of "dual circulation". He can be found at http://beansmile.com....more

  Episode

• #19 - Movie and games studios undervalued IP, spicy gluten snacks, and our AI future

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  May 21 2021

  This week your co-hosts dive into Alibaba's first operating loss since becoming a public company, but they're not too worried. They talk about Tencent's potential partnership with Xbox and the increasing value of IP (content). Kevin talks about how a beef-jerky company copies Apple, and Adeh tries to explain the implications of our AI future. Listen now and join the conversation!This week's Chinese proverb: 当局者迷，旁观者清 - "The player is muddled, while the onlooker sees clearly"Alibaba posts it's first operating loss, but it doesn't look all that badhttps://www.cnbc.com/2021/05/13/alibaba-earnings-q4-net-loss-after-2point8-billion-antitrust-fine.htmlTencent Games is in talks with XBox, we're both excitedhttps://techcrunch.com/2021/05/13/tencent-timi-xbox/Beijing punishes apps that gather too much data, when will this happen to Facebook?https://www.scmp.com/tech/policy/article/3133493/beijing-removes-90-apps-crackdown-information-collection-flexing-newKevin's favorite "spicy gluten stick" maker has filed for and IPOhttps://www.dealstreetasia.com/stories/weilong-hong-kong-ipo-240563/And highlighting their incredible Apple-spoof design: https://lyceum18.wordpress.com/2016/11/17/cheap-chinese-snack-brand-spoofs-apples-design-the-people-love-it/Chinese AI researchers release a competitor to GPT-3, sealing our future as batteries for the machineshttps://arxiv.org/abs/2104.12369Zhang Yiming takes a bow, following in the footsteps of Colin Huang ($PDD) and Jack Ma ($BABA) - but is it the right time?ByteDance co-founder Zhang Yiming to step down as CEOBONUS#1 - A well crafted look into what GPT-3 offes, which informs how Pangu might be utilizedhttps://pudding.cool/2021/03/love-and-ai/BONUS#2 - A look at the Chinese term 内卷 neijuan, or involution, and how the pressure of grades, work, and the economy shapes the outlook of China's working middle class.https://www.sixthtone.com/news/1006391/how-one-obscure-word-captures-urban-chinas-unhappiness...more

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• #18 - NFTs, bike-share's comeback, and China's growing fitness fetish

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  May 14 2021

  This week your co-hosts touch on a range of topics from the NFT craze to China's fitness boom. Adeh is vindicated, and Kevin ponders parties and late-night beer runs. Join the conversation and let us know what you think!What are NFTs and how will they fit into the digital futurehttp://www.sixthtone.com/news/1007240/how-nfts-are-transforming-chinas-art-marketMeme girl makes 500k from selling an NFThttps://www.abc.net.au/news/2021-04-30/disaster-girl-meme-sells-for-500-000/100106366Xiaomi wins lawsuit, american's can trade shares againhttps://www.bloomberg.com/news/articles/2021-05-12/xiaomi-u-s-government-agree-to-drop-firm-from-blacklistHello Bike set to go publichttps://technode.com/2021/05/01/hello-inc-becomes-first-chinese-bike-rental-firm-to-file-for-us-ipo/Fitness chain rides the growing middle class to a 1+ billion valuationhttps://www.dealstreetasia.com/stories/supermonkey-unicorn-status-239876/BONUS - How China is already using NFTs to cut down on red tapehttps://www.caixinglobal.com/2019-08-12/shenzhens-pilot-blockchain-based-invoice-system-a-roaring-success-tax-bureau-says-101449785.html...more

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• #17 - Tesla's China problem, Meituan's rapid expansion, and China's LGBTQ+ tech world

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  Apr 30 2021

  This week your co-hosts talk about Tesla in China, the recent PR debacle and how this all sounds too familiar. Then Adeh and Kevin do a deep dive into Meituan (whose market cap peaked at $341 bn USD earlier this year) as they consider who is next to be hit by Beijing's crackdown on tech in China. Your duo ends on an optimistic note - envisioning a bright future which embraces diversity - as they purview BlueCity Inc, a rising star Chinese LGBTQ+ tech platform.Tesla has a China problemhttps://technode.com/2021/04/22/chinese-authorities-demand-tesla-brake-data-following-protest/Tencent and Meituan rumored next for Anti-monopoly probe:Meituan https://www.techinasia.com/alibaba-chinese-regulator-launches-antimonopoly-probe-meituanTencent https://www.techinasia.com/sources-tencent-next-in-line-face-chinese-antitrust-regulatorsMore on Pony Ma / Tencent's $7.8 bn USD social responsibility fund https://pandaily.com/tencent-announces-50-billion-yuan-investment-in-sustainable-innovation/Despite gov crackdown on tech, Meituan raises $10 bn USD cash to invest in hot community group-buy grocery and tech (autonomous driving)https://www.bloomberg.com/news/articles/2021-04-19/meituan-seeks-about-10-billion-in-stock-offering-convertibleshttps://www.bloomberg.com/news/articles/2021-04-20/meituan-ceo-who-bested-jack-ma-snags-10-billion-for-next-fightMeituan founder Wang Xing's prolific start-up backgroundhttps://en.wikipedia.org/wiki/Wang_XingBlueCity, Chinese LGBTQ+ ecosystem company, obtains Internet hospital licensehttps://pandaily.com/owner-of-chinese-gay-dating-app-blued-obtains-internet-hospital-license-to-offer-mens-health-services/...more

  Episode

• #16 - Big China Tech's great self-rectification!

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  Apr 20 2021

  Self-rectification, emotional aptitude and optics. Touchy-feely baloney or critical business issues which could decide the life or death of a company? Kevin and Adeh get introspective themselves and explore these concepts in the context of Chinese society and big China tech of today.Big tech falls in line behind the example set by Alibaba https://www.bloomberg.com/news/articles/2021-04-13/china-orders-34-tech-firms-to-curb-excesses-in-antitrust-reviewTencent CEO pledges $7.7 billion to china's rural areas in efforts to appease the government https://www.bloomberg.com/news/articles/2021-04-19/tencent-s-ma-dangles-billions-in-aid-as-antitrust-scrutiny-growsAnti-monopoly law strikes against the big and small https://technode.com/2021/04/12/sherpas-fined-over-monopoly-on-delivering-food-in-english-in-shanghai/Ant Financial gets it's marching orders to re-organize https://www.ft.com/content/5c14c1d1-bd9e-4654-9a12-93c4ac46792dDidi preps for IPO at $100 billion valuation (compare Uber at $107B) https://www.bloomberg.com/news/articles/2021-04-09/didi-chuxing-is-said-to-have-filed-confidentially-for-u-s-ipo-knaqvotfJD Backed Aihuishou 爱回收 plans to list at a valuation of $4 billion China’s used electronics trading platform Aihuishou 爱回收 eyes up to $1b in US IPOBONUS - How Amazon uses it's market power to maintain control https://www.wsj.com/articles/amazon-strong-arms-partners-across-multiple-businesses-11618410439...more

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• #15 - Alibaba's $2.8 bn anti-trust hit + China's digital yuan world domination

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  Apr 14 2021

  This week your co-hosts take on China's 996 work culture, then jump into the frenzied pundit waters churned up by the announcement that Alibaba was fined 2.8 billion USD for using its monopoly power to harm competitors. Later, Adeh tries to convince Kevin that the digital yuan may take over the world! What do you think? Give it a listen and send us your thoughts.A recent trending post critical of 996 culture in Chinese tech companies https://www.sohu.com/a/457730317_113767Alibaba gets fined 2.8B USD for monopolistic behavior https://www.wsj.com/articles/alibaba-hit-with-record-2-8-billion-antitrust-fine-by-chinas-market-regulator-11618018830100 start-ups have pulled plans to IPO in Shanghai after Ant Financial's 'failed' IPO and tightened scrutiny https://www.reuters.com/article/us-china-tech-exchanges-analysis/analysis-chinese-tech-start-ups-pull-ipo-plans-as-beijing-tightens-scrutiny-idUSKBN2BY0UL US starts to take notice of the digital yuan, and what it could mean for the future https://www.scmp.com/economy/china-economy/article/3129161/china-digital-currency-biden-administration-steps-scrutiny-e...more

  Episode

• #14 - Bytedance and other imminent IPOs + XiaoMi jumps into EV

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  Apr 07 2021

  This week your co-hosts explore conflicting reports of Bytedance's valuation and pontificate on why that valuation is justified against the backdrop of China's tech landscape. They discuss more upcoming IPOs, including Xiaohong Shu and Xiaomi's big announcement.BytedanceSome say the TikTok parent company is worth USD 250 billion https://www.bloomberg.com/news/articles/2021-03-30/bytedance-is-said-valued-at-250-billion-in-private-tradesOr is it more? https://www.scmp.com/tech/big-tech/article/3128002/value-tiktok-maker-bytedance-approaches-us400-billion-new-investorsWhat are they doing with this? Buying gaming companies to compete directly with Tencent https://www.reuters.com/article/us-bytedance-videogames-mooton-idUSKBN2BE0ESIPOsTencent-backed WeDoctor to IPO for $3bn USD in HKhttps://kr-asia.com/key-stat-tencent-backed-online-hospital-wedoctor-files-for-ipoXiaohong Shu, the sleeper review/e-commerce/social media app prepares for IPO https://technode.com/2021/03/26/social-commerce-app-xiaohongshu-hires-cfo-ahead-of-us-ipo/Electric CarsXiaomi announces plans to start producing EVs https://technode.com/2021/03/31/xiaomi-invests-1-5-billion-in-fully-owned-ev-business/And invest 10 billion over the next 10 years https://www.cnbc.com/2021/03/30/chinas-xiaomi-to-launch-electric-car-business-and-invest-10-billion.htmlLei Jun's open letter https://kr-asia.com/a-letter-from-lei-jun-starting-over-one-last-time China plans to phase out fossil fuel cars by 2035 https://www.weforum.org/agenda/2020/11/china-bans-fossil-fuel-vehicles-electric/#:~:text=By%202035%2C%20all%20new%20vehicles,remaining%2050%25%2C%20hybrid%20vehicles....more

  Episode

• #13 - Tencent Q4 success and scrutiny, and 'cancel culture' China-style!

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  Mar 30 2021

  This week your co-hosts discuss Tencent's business success and cancel culture with Chinese characteristics. We end up with Kevin singing patriotic songs as Adeh comes to grips with an existential crisis:TencentTencent has a blowout quarter with 9.1B in profit (compare Apple 28B, FB 11B, goog 15B) https://www.scmp.com/tech/big-tech/article/3126771/tencent-posts-175-cent-rise-fourth-quarter-profit-it-faces-tighterAt the same time, the company is bracing for what's coming from the central government https://technode.com/2021/03/24/china-probes-tencent-for-antitrust-practices-report/Much of their revenue increase was due to games, and we saw PUBG hit 1 billion downloads worldwide https://www.theverge.com/2021/3/25/22350782/pubg-mobile-one-billion-downloads-tencentScrutiny of US listed Chinese companies tightens, leading to Tencent Music losing a third of its value and then declaring a $1B USD of stock buyback https://www.reuters.com/article/us-tencent-music-buyback/tencent-music-announces-biggest-ever-1-billion-share-buyback-idUSKBN2BL06XTencent's full annual report: https://static.www.tencent.com/uploads/2021/03/24/b83f5784d0579b51cf8515cf560b4256.pdfCancel Culture, China StyleH&M has been scrubbed from the Chinese internet due to a remark posted on their website over a year ago https://techcrunch.com/2021/03/24/h-m-censored-xinjiang-cotton/Other western brands taking a stand face an increasing backlash and threats of boycott https://www.cnbc.com/2021/03/25/backlash-on-nike-hm-in-china-over-comments-on-xinjiang-cotton.html"Retailers may be caught between nationalistic Chinese consumers and conscientious ones at home" https://www.economist.com/business/2021/03/27/china-boycotts-western-clothes-brands-over-xinjiang-cottonXiaomi overtakes Huawei in global salesXiaomi becomes the third largest smartphone seller, taking advatage of Huawei's troubles in overseas markets https://www.scmp.com/tech/big-tech/article/3126993/xiaomi-moves-past-struggling-huawei-no-1-chinese-smartphone-vendorAnd they are looking to thhe future as they make a move into Electric Vehicles https://www.reuters.com/article/us-xiaomi-electric-great-wall-motor-excl-idUSKBN2BI05P...more

  Episode

• #12 - User data policy, anti-trust and PinDuoduo and Foodtech

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  Mar 25 2021

  Draft 5 year plan:https://www.nytimes.com/2021/03/10/business/china-us-tech-wecrivalry.htmlWSJ is following us…Tencent as an investment powerhouse: https://www.wsj.com/articles/chinas-tencent-becomes-an-investment-powerhouse-using-deals-to-expand-its-empire-11614769545Wall Street finally picks up on what we’ve seen as inevitable for months -> Tencent valuation drops by $62B on news that they are next to be hit by gov anti-trust crackdown in fintech: https://www.bloomberg.com/news/articles/2021-03-15/tencent-loses-62-billion-wiping-out-value-of-fintech-businessANTITRUST - A bunch of companies get fined https://technode.com/2021/03/12/chinese-regulator-fines-alibaba-tencent-didi-for-antitrust-violations/PRIVACY - New rules limit how much information apps can collect, limit to "necessary", specifically prohibit "bundled consent"https://www.scmp.com/tech/policy/article/3126483/data-privacy-china-defines-first-time-necessary-information-apps-canAlso from a Western news source: https://techcrunch.com/2021/03/22/china-regulation-data-collection-may-startsALIBABA app to get on WECHATPreviously anything Alibaba had been blocked out of the app by WeChat/Tencent - https://www.bloomberg.com/news/articles/2021-03-17/alibaba-to-open-up-deals-app-in-concession-to-antitrust-campaignPinDuoDuoPDD becomes the biggest ecommerce company by userbase: https://techcrunch.com/2021/03/17/pinduoduo-surpasses-alibaba/Founder Colin Huang to step down and focus on Foodtech: https://www.scmp.com/tech/big-tech/article/3126018/pinduoduo-founder-colin-huang-says-he-stepping-down-chairman-focus...more

  Episode

• #11 - The anti-trust crackdown spreads to group-buy groceries

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  Mar 09 2021

  Last few months we've been talking about Chinese government cracking down on big tech monopolies. We've also been talking about how the group-buy grocery market which has become China's most recent capital investment battleground. This week, these two topics converge as five of the major group-buy grocery companies are fined by China's government for pricing their products too low.As the crackdown on big tech monopolies continues, Pony Ma plans a trip to Beijing to advocate for more government control of the Internet. We then talk more about 5-year plans and other government plans, particularly China's ambitious carbon emission reduction goals which are already having a significant impact - such as stopping all crypto mining in Inner Mongolia.EDIT: The final version of China's 2021-2025 five-year plan has not yet been released, drafts and plans have been circulating since December 2020.Grocery buying companies hit with fines for pricing too lowhttps://technode.com/2021/03/03/china-fines-five-community-group-buy-firms-for-irregular-pricing/More info on grocery buying and personal stories of group-leaders on these platforms https://technode.com/2021/01/27/friendly-neighbors-are-key-to-chinas-group-buying-craze/Pinduoduo double's revenue in 'agricultural goods' https://kr-asia.com/key-stat-pinduoduo-says-agricultural-gmv-hit-record-high-ahead-of-annual-earnings-release14th five year plan draft analysis - https://crsreports.congress.gov/product/pdf/IF/IF11684Inner Mongolia halting crypto mining to reduce energy usage - https://pandaily.com/inner-mongolia-to-end-crypto-mining-by-april-in-bid-to-reduce-energy-consumption/...more

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• #10 - Deep fake biz, Video platforms (BiliBili), Clubhouse copies, and Gaming

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  Mar 02 2021

  This was a fun one. You've probably heard and seen 'Deep Fakes' - incredible and uncanny filters which changes a person's appearance in a video to appear like a different person. People can become Tom Cruise, except unlike in Mission Impossible, there are no need for masks anymore. Thus far, this has been more of an online gimmick, the hacker's party trick, with no real application.A 3-month old start-up in China is providing a real-world application. SMB eCommerce businesses can make their models look like anyone they want - not real people because their likeliness is protected IP, but any race, gender, or general 'look'. See it for yourself and be prepared for a deep dive into the uncanny valley, link below.Once we shook off our goosebumps, we went on to discuss BiliBili. This video platform has been around for a decade and has shown steady growth with a very loyal user base. Next we discussed Clubhouse copies and how XiaoMi is going to reenter the fray. Lastly, we talked about Tencent getting into cloud gaming to bring their best games to low-cost smartphones, and therein, a wider audience. "Surreal" - Synthetic content (deep fake or 'filter' start-up) https://www.surreal.la - it's in Chinese but just scroll down for a 1 min intro video with English.Article on Surreal in English https://techcrunch.com/2021/03/01/surreal-profile/Article on Surreal in Chinese) https://36kr.com/p/1109621217175561Clubhouse copiesClubhouse clones removed from app store https://www.scmp.com/tech/tech-trends/article/3122818/clubhouse-clone-duihuaba-removed-app-stores-two-weeks-after-launchXiaoMi's MiLiao to become more like Clubhouse - https://www.scmp.com/tech/big-tech/article/3123630/wechat-clubhouse-xiaomi-turns-messaging-app-social-audio-platformBili Bili video platform shows solid growthhttps://kr-asia.com/bilibili-reports-revenue-increase-of-91-in-q4-but-widens-lossOther mentions in episodeKev's fav BiliBili video (Chinese): https://www.bilibili.com/video/BV1NC4y1Y7vv/?spm_id_from=333.788.videocard.0Descript www.descript.com...more

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• #9 - China is breaking up big tech, community grocers are booming, and more

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  Feb 24 2021

  Happy Chinese New Year - I hope everyone had a good holiday OR, if you're in the West, have enjoyed seeing things besides China in the headlines while the country was away on holiday.Today we talk about continued anti-trust movement in China. The government is enacting increasingly strong policies to break-up big tech monopolies in China - namely, Tencent and Alibaba - and smaller players like Bytedance and a Chinese JV (Joint Venture) with GM are cashing in. Bytedance and the JV have both submitted monopoly complaints against Tencent.Community group-buy of grocery continuues to boom in China. What seems to be the the biggest player, the two-year old XingSheng YouXuan, is now worth a whopping 8 billion USD! ANTI-TRUST - Formal rules against big tech https://technode.com/2021/02/08/china-formalizes-antitrust-rules-targeting-tech-giants/STANDARDS - WSJ picks up on the story we broke a few weeks ago on China taking up technology standards as a national imperative.https://www.wsj.com/articles/from-lightbulbs-to-5g-china-battles-west-for-control-of-vital-technology-standards-11612722698GROCERIES - Kevin's fav topic 兴盛优选 raises 2 BILLION USDhttps://www.reuters.com/article/xingsheng-youxuan-fundraising-idUSL1N2KP0HHhttps://kr-asia.com/greengrocer-xingsheng-youxuan-to-bag-usd-3-billion-from-sequoia-tencent-othersXIAOMI is reportedly making a move into electric vehicleshttps://technode.com/2021/02/20/xiaomi-reportedly-plotting-electric-car-play/SUPPORTING A START-UP!Support your physical and mental health! Join Kara Wurtze's movement which she began in Guangzhou, China, now 100% online https://www.k2fitchallenge.com/See Kara on TedxGuangzhou https://www.youtube.com/watch?v=QkHXwg2PcfA (Fun side note: Adeh and I are both fitness coaches as a hobby)...more

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• #8 - Free speech on Clubhouse and Bytedance (Tiktok) sues Tencent

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  Feb 09 2021

  The newest social media phenomenon Clubhouse hits China and provides a unique avenue for free speech - update after recording last night, Clubhouse is now banned in China.Bytedance doubles revenue and is suing Tencent for monopolistic behavior (which we essentially predicted two episodes ago). And then we talk more about Clubhouse because we’re both passionate about social media platforms, this industry needs disruption, and the app just seems really cool.LINKS:Intro to Clubhouse (and how it is now banned in China): https://www.cnbc.com/2021/02/08/clubhouse-appears-to-have-been-blocked-in-china.htmlBytedance doubles revenue: https://www.techinasia.com/bytedances-revenue-doubled-37b-2020-sourcesBytedance sues Tencent for monopolistic behavior: https://technode.com/2021/02/03/bytedances-douyin-sues-tencent-for-unfair-competition/...more

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• #7 - WeChat turns 10, Chinese gov breaking monopolies, and introducing Douyin Pay

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  Jan 27 2021

  WeChat turns 10 years old. China’s beloved communications app, and Kevin’s old job, did well in 2020. GMV (Gross Merchandise Volume) on WeChat’s Mini Programs doubled compared to the previous year to a whopping $250 billion USD.Meanwhile the Chinese government expand on their anti-trust efforts and actually provide a definition for monopoly in the digital payments sector. Under the new definition Ant Financial’s AliPay is TWICE considered to have a monopoly of the market.Lastly, Douyin (TikTok in China), has added their own payment capabilities with Douyin PayLINKS:WECHAT TURNS 10: https://techcrunch.com/2021/01/19/wechat-2020/NEW FINTECH RULES: https://technode.com/2021/01/21/new-digital-payment-rules-likely-to-hit-ant-tencent/DOUYIN PAY:  https://techcrunch.com/2021/01/19/douyin-e-wallet/ FREE AD FOR A START-UP: A friend's "AI-powered note-taking" start-up in HK is hiring, especially interested in China-focused tech talents, if you're interested: https://www.goodnotes.com/...more

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• #6 - Xiaomi takes a hit (as does Adeh), China-US Tech War, and more

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  Jan 19 2021

  This week we talk about Trump's latest (and hopefully last) executive order hitting Chinese tech firm Xiaomi causing the company's stock to plummet 14%. Adeh, an investor in Xiaomi, is sad about this for more reasons than just losing money, but Kevin is able to cheer him up by buying him a new microphone! The new mic should also cheer up our dear listeners who've had to put up with poor audio quality in an age of Spotify and increasingly spoiled ears. Links: https://technode.com/2021/01/15/xiaomi-shares-plunge-after-us-investment-ban/ https://www.ft.com/content/46505ee0-fb3d-4cf0-a3df-64e9661e839f https://kr-asia.com/key-stat-alibabas-workplace-messaging-app-reaches-400-million-users Bonus Read: http://en.people.cn/n3/2021/0111/c90000-9808007.html ...more

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• #5 - Chinese gov crackdown on Alibaba, Homework app billionaires, and plant eggs

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  Jan 13 2021

  We go into more details on why Chinese gov is cracking down on Alibaba and evidence that Jack Ma is still alive, and speaking of cracking, we talk about plant-based eggs having big launches into China. We also talk about multi-billionaire dollar online educational platforms and the world's first technical standards for robotaxis.

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• #4 - Alibaba's Ant Group and the Chinese Gov's painful probe

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  Jan 05 2021

  Today we do a deep dive into one specific topic, Alibaba's Ant Group and how it's being crushed by Chinese gov and recent regulations. What was supposed to be the world's biggest IPO was put off, but the story didn't stop there. China's gov has initiated a monopolistic probe into Alibaba's Ant Group, and begun to mandate the company to divest, furthermore China's gov is tightening regulations on their loans and other fintech activities.All this and a little more on the background of Ant Group and why it was so valuable in the first place....more

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• #3 - Govs challenge big tech, raise tech standards, and we sniff out the latest investment fad

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  Dec 24 2020

  #3 - big tech of East and West are being challenged by government. China's gov sees the value of tech standards where US doesn't appreciate how good its got it. Lastly following the hottest investment trends from car-sharing to bike sharing, and now eCommerce grocery.

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• #2 - China Gov's new digital currency, data protection, micro-chips, and more on group-buy groceries

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  Dec 14 2020

  We made it to episode 2! This week we tackle some massive topics - China Gov's foray into digital currency, investment in micro-chips, and enhancing user data protection. After incubating China's tech sector in a competitive and legal vacuum, the gov seems to be taking the reins. Plus, we talk a bit more about group-buy groceries, the little understood, nearly trillion-dollar, market opportunity. Enjoy!

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• #1 - So it begins - a new space race, a telehealth boom, group-buying groceries and more

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  Dec 08 2020

  Hi! A great beginning to a new good thing. This week we introduced ourselves and why we are doing this podcast. Then we go into our six key topics based on recent events in China tech.Below are the topics and links for more learning1) Apple seems to be lobbying against a new US law which counters forced labor overseas2) Group-buy grocery chains are taking off in China. Alibaba backed Nice Tuan bags another $196 mill USD in funding.3) Race for space: China's successfully lands on the moon.4) A healthy boom in China. JD Health valued around $29 bn USD in HK market IPO, raises $3.5 bn USD.5) China's autonomous vehicle tech is accelerating: AutoX removes safety drivers.6) Personal data protection in China is tightening up. The 'wild days' of China's loose data control are ending....more

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