How China has ‘throttled’ its private sector (www.ft.com)

submitted 5 days ago by utopiah@lemmy.ml to c/technology@lemmy.ml

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"Venture capital finance has dried up amid political and economic pressures, prompting a dramatic fall in new company formation"

Posted in technology as most of the funded companies are into technology. The most shocking piece is arguably the number of funded company pear year with a clear peak in 2018 which is 50x (!) more than last year, 2023.

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[-] utopiah@lemmy.ml 2 points 5 days ago

I believe that's precisely the point of the article, that there will be no new BYD which was funded 29 years ago.

[-] istanbullu@lemmy.ml 3 points 5 days ago

nonsense. you hear about a new sexy chinese company every day. just today I learned about Biren, which is taking on Nvdia: https://en.wikipedia.org/wiki/Biren_Technology

This article is basically yet another Gordon Cheng. It's pathetic and hilarious at the same time.

[-] utopiah@lemmy.ml -1 points 5 days ago

Founded in 2019, right after the peak according to the very graph I highlighted.

Neither I nor the article is saying there are no more startups nor innovation from China. What the article is saying is that it's radically less than 7 years ago. You can still list few amazing Chinese startup from 2023 or 2024 and it would still not make the article "nonsense".

[-] istanbullu@lemmy.ml 1 points 4 days ago* (last edited 4 days ago)

nice try Gordon Cheng.

Also: https://en.wiktionary.org/wiki/copium

[-] utopiah@lemmy.ml 0 points 4 days ago

OK... unable to argue, blocked.

this post was submitted on 13 Sep 2024

28 points (83.3% liked)

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