Hacker News Board Hacker News, browsed like a classic message board
Live data from Hacker News

12,000 startups are being created every day in China [video]

youtube.com

Post reply on HN
Print view View original

41–50 of 75 posts

Re: 12,000 startups are being created every day in China [video]

#41

Post by gentro »

Gabriel_h wrote: post #17
kitschshrine wrote: post #9

Earlier quoted context omitted.

They've been saying that since the Chinese economy opened up in the 80s, really opened up in the 90s, really really opened up in the 2000s. so far, nothing in 35 years. Japan had so much innovations in way less time. meanwhile China's economy is crashing down, and no more free FDI to fuel any further progress

I have a few anecdotal examples of innovations or ways in which China is 'ahead': Bike-sharing startups like MoBike: Use their app to find the nearest bike to you, scan a QR code to unlock it, and pay $0.15 for one hour. You can then ride and leave it anywhere . Admittedly, this is only possible due to v. high urban density (China has ten cities with populations greater than London and similar urban densities). I can…

The amount of information available to westerners about the Chinese economy is pretty pitiful. Here in the U.S. there's like four or five talking points that echo around the media about the Chinese economy and those are the only tidbits people bring up.

I've seen a few NHK documentaries about China. Kudos to them for chasing down interesting angles.

Re: 12,000 startups are being created every day in China [video]

#42

Post by edblarney »

gentro wrote: post #21
dvcc wrote: post #2

So I had some doubts about the numbers at first, but a rough quick calculation 12,000 / (1.3 billion (people) * .5 (age 25-54)) ≈ 0.002% of the available population a day creating a startup (1 in every 50,000) which does not seem too far-fetched, but still seems a bit high to be honest.

The documentary is about fintech innovation driving funds to SMEs. Their examples are a kiwi producer, a fish farm, and and a steel welding company. What they probably mean is that 12,000 businesses are started in China every day, not necessarily all tech related.

Yes, that's it. And a 'business' can also be a small contractor, a restaurant, or a hot-dog stand.

It's difficult to firmly characterize the difference between such business, but it's probably not fair to refer to every registered business as a 'startup'.

Re: 12,000 startups are being created every day in China [video]

#43

Post by mrslave »

kitschshrine wrote: post #12
dvcc wrote: post #2

So I had some doubts about the numbers at first, but a rough quick calculation 12,000 / (1.3 billion (people) * .5 (age 25-54)) ≈ 0.002% of the available population a day creating a startup (1 in every 50,000) which does not seem too far-fetched, but still seems a bit high to be honest.

it's a lie, much like the government's made up 7% gdp growth. "China's liaoning province admitted that it inflated GDP figures from 2011 to 2014" https://qz.com/887709/chinas-liaoning-province-admitted-that...

And the US government saying there's no inflation, and the recovery is real - just a little slow. ;-)

Re: 12,000 startups are being created every day in China [video]

#44

Post by zhte415 »

Gabriel_h wrote: post #17
kitschshrine wrote: post #9

Earlier quoted context omitted.

They've been saying that since the Chinese economy opened up in the 80s, really opened up in the 90s, really really opened up in the 2000s. so far, nothing in 35 years. Japan had so much innovations in way less time. meanwhile China's economy is crashing down, and no more free FDI to fuel any further progress

I have a few anecdotal examples of innovations or ways in which China is 'ahead': Bike-sharing startups like MoBike: Use their app to find the nearest bike to you, scan a QR code to unlock it, and pay $0.15 for one hour. You can then ride and leave it anywhere . Admittedly, this is only possible due to v. high urban density (China has ten cities with populations greater than London and similar urban densities). I can…

Bike sharing apps are interesting in they can generate more income via interest on the deposits held by users with them than they generate in income.

Re: 12,000 startups are being created every day in China [video]

#45

Post by smaddox »

ericjang wrote: post #24

Fascinating documentary, thanks for sharing! If I understand the business model correctly, isn't the 融道网 (Roadoor.com) 9.00% guaranteed principal + interest mentioned in the documentary considered a Ponzi scheme in the US? How much of the return on capital is from RoI from investment into companies (exits, dividends, organic growth) vs. just increased AuM from (老百姓) investors? Edit: just realized that businesses requ…

Yeah, just like mortgage lending prior to 2008 was "capped" by the availability of quality debtors.

Re: 12,000 startups are being created every day in China [video]

#46

Post by da02 »

eritansa wrote: post #33
candiodari wrote: post #18

Earlier quoted context omitted.

> - requires you to give up 50% to a local partner Chinese people. Don't worry, there's plenty. And they do not have subpar education, nor do they have less intellectual capacity (hell, most studies seem to conclude they have -just a little- more, on average). > - blocks internet access to foreign websites (thus foreign customers) I think you'll find that inbound commerce (or outbound commerce) is not all that restri…

It's unfortunate you're being downvoted. I highly recommend the book, Bad Samaritans [1] as it shows that all developed countries followed a similar pattern of IP theft and protectionism. 1. https://www.amazon.com/Bad-Samaritans-Secret-History-Capital...

Sidenote: Jeff Tucker mentioned how the US in the 1800s enforced American authors' IP, but not British. So school teachers ended up using the cheaper British authored books instead of the Americans. Leading to more British authors becoming famous in the US.

Re: 12,000 startups are being created every day in China [video]

#47

Post by kirashogun »

da02 wrote: post #32
kitschshrine wrote: post #9

Earlier quoted context omitted.

They've been saying that since the Chinese economy opened up in the 80s, really opened up in the 90s, really really opened up in the 2000s. so far, nothing in 35 years. Japan had so much innovations in way less time. meanwhile China's economy is crashing down, and no more free FDI to fuel any further progress

You're right: there should have been more innovation by now. I withdraw my comment. (There should have at least been a few Akio Morita's by now.)

Wow you are easily convinced. Still stuck living in the 80s? Japan is basically finished at the moment. When's the last time the Sony brand meant something other than meh. Heck even the Korean are eating Japan alive.

Not meant to bash Japan as I like the country the food, literature and I speak the language but facts are facts.

This is not saying China's success is guaranteed but to compare it to Japan while ignoring the fact Japan started about 120 years earlier give it take and didn't have a wildly arrogant and corrupt Qing government, didn't have incompetent woman at the helm such as CiXi, didn't go through stupidest human experiment on earth called communism while destroying a generation of intellectuals is a bit ignorant.

Maybe if we extend a bit beyond Meiji and go for 4000 years, you will find Japan's history stops at 100 AD due to lack of a writing system until they imported Chinese.

Now if I was a betting man, given what China has achieved since 1978, I would say there's a good chance China will surprise every western frog stuck in their well.

Re: 12,000 startups are being created every day in China [video]

#48

Post by powerapple »

shshhdhs wrote: post #31
kitschshrine wrote: post #23

Earlier quoted context omitted.

China's economy is crashing. no free lunch anymore. just look at their reserve and debt ratio

I'm not an economist, so could you elaborate how this indicates a crashing economy?

if the Chinese economy is crashing, I think it is a pretty good thing. Just imaging when it is not 'crashing'.

Re: 12,000 startups are being created every day in China [video]

#50

Post by golergka »

kitschshrine wrote: post #12
dvcc wrote: post #2

So I had some doubts about the numbers at first, but a rough quick calculation 12,000 / (1.3 billion (people) * .5 (age 25-54)) ≈ 0.002% of the available population a day creating a startup (1 in every 50,000) which does not seem too far-fetched, but still seems a bit high to be honest.

it's a lie, much like the government's made up 7% gdp growth. "China's liaoning province admitted that it inflated GDP figures from 2011 to 2014" https://qz.com/887709/chinas-liaoning-province-admitted-that...

Now, this I have been wondering for a long time. Chinese authorities, especially on a local level, aren't exactly known for their honesty and high moral standards. At the same time, they have a lot of incentives to over-report one particular metric: population.

So, when people are talking about 1,5 billion Chinese - have these figures have been independently confirmed, or just taken straight from the government?

Post reply on HN