No, this is about cutting of global dollar-based funding to Chinese startups and it is serious. Most if not all of the biggest private equity funds in the world are based in US, afew in Europe and UK. They manage(more like monopolies) capital from the wealthy families all over the world(through private banks), and since the funds are based in US, the managers have to adhere with US gov laws. These funds have with them a focus bias ; 80% will be funneled into supporting US-based startups. Such new "scrunitize" will mean global funding will no longer go towards funding any strategic Chinese sectors.Too little and too late, beside the US was never that much of important in bringing any valuable expertise and skills to China.
Don't get me started. Just last month I got the opportunity to invest in one of the biggest funding round in 2023, with bright prospect and the only few with rising valuation this year. The presentation session took me by surprise : it is Anduril, a US startup making autonomous killing systems, drones, sensors and loitering ammunition. Their deck is BAM defending democracy, how to contain China :
screenshot below to give you guys how bad it is. Turned it down. But this shit is over subbed as global investors are promised up to x10 return, to fucking fund the US war machine. China doesn't help much by closing off their sectors from receiving a;; foreign funding and will be on the losing end vs the money gunning for US sectors.
Lo and hehold, Anduril's unmanned sub for Australia is aimed squarely at China.
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