Discussions of why China has fewer startups than the United States have an invariable financial sector component. That's my entire point. Not that the US financial sector is perfect.
Chinese Economics Thread
- Thread starter Norfolk
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Subsidizing the extravagant lifestyles of Silicon Valley techbros with the chance that 1/100 will actually come up with something genuinely innovative and not rent-seeking.
Or maybe China doesn't need tens of hundreds of startups jumping on the next feeding through I mean venture capital money drops.
Now you have every crypto and web3 "entrepreneur" going feet first into chatgpt AI systems.. Because money is being directed to that.
China seems to have a more long term vision and state controlled capital being allocated to that vision.
China will have to take care with trade with Brazil. They typically want to manufacture everything inside Brazil rather than import things. They have huge tariffs on imports of everything from consumer electronics to cars. It is basically like doing business with India.
Do you have any really reliable data on these startups?
1) on how startups are counted
2) how long they are around
3) promising startups that are looking for money, but can't get access to money
There are always ways that you can improve the Chinese economic structure. But given its successes, the areas of improvement may not be where you think they are.
Exactly right. 98% of US "innovation" is financial chicanery. If they ever have a good idea, China can just copy it. No shame in that and I'll admit among friends that that's something China often does.
I apologize for playing my part on this since I posted a social media post from Tiktok. I was genuinely interested in understanding the person behind the videos message and logic regarding the opinion of China not at all interested in making the Yuan a freely convertible currency.
Make that 3 to 6 months, especially with SVB bellying up...