Asia-Pacific is home to a rise in new self-made billionaires
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Re: Asia-Pacific is home to a rise in new self-made billionaires
#2Count me skeptical about of some of these 'self-made' billionaires. Pinduoduo for example, as with many Chinese companies, has been accused of falsifying revenues to pump stock prices. Yes, this stuff happens in the US as well (we all remember Enron and Theranos), but to what extent, are the statements of these companies transparent and well-audited, and regulated by government differs by region.
And Bitmain? Is it tech wealth creation to sell pick-axes to desperate miners looking for a gold rush? This looks to me like instead, a zero-sum trade, wherein someone got rich, and everyone else was left holding the bag for a device that would be worthless in a few months.
Of all of those on the list, DJI looks like the most legit, self-made success story, producing a very high quality, Apple-like experience in innovative drone devices, devices now used extensively by the film industry.
Re: Asia-Pacific is home to a rise in new self-made billionaires
#3It'd be interesting to be able to compare America and China through the lens of capitalism; at the moment I don't think China is transparent enough to really come up with anything meaningful.
America is a lot less capitalist than it once was [0, 1] total government spending has gone from 10% GDP around the 1930 great depression (so, 9 private dollars for every public dollar) to about 30% post 1950 including State & Local government (2 private dollars per public dollar). I'm not sure how to interpret it, but spending on military also seems to have plummeted since the 60s as a % of spending. The military spending was where the research for things like the internet was done, so that might be meaningful. It seems very reasonable that the impacts of research and tax impacts on savings play out over 20-30 year timeframes (low risk capital investment pays itself back over ~15-20 years which sets up a natural cadence).
As the world becomes competitive for the first time since the end of the cold war, issues of how to generate new wealth very rapidly become important. America won't be able to harvest resources from foreign climes (eg, the Middle East) as freely now that China is starting to move beyond its boarders; to say nothing of potential changes in India or other Asian countries.
[0] http://metrocosm.com/history-of-us-taxes/ [1] https://www.usgovernmentspending.com/breakdown_1930USpt_20ps...
Re: Asia-Pacific is home to a rise in new self-made billionaires
#4An AirBnb IPO may tip it back towards the US.
Or Pinterest, Palantir, Uber, Lyft, Slack, Postmates, Asana, Casper.
Not really sure it should all be cast as a competition, but the wealth creation engine of the US is alive and well.
Re: Asia-Pacific is home to a rise in new self-made billionaires
#5It'd be interesting to be able to compare America and China through the lens of capitalism; at the moment I don't think China is transparent enough to really come up with anything meaningful. America is a lot less capitalist than it once was [0, 1] total government spending has gone from 10% GDP around the 1930 great depression (so, 9 private dollars for every public dollar) to about 30% post 1950 including State & L…
That’s why undermining US foreign policy is a big BRIC priority.
The era of stupid we are in now will have dramatic impact on the rest of this century.
Re: Asia-Pacific is home to a rise in new self-made billionaires
#6Is this a contest where we should be rooting for a side or something? What's the significance of this? Is this some kind of national pride thing where I should be rooting for my home country to win? I'm happy for people that found success for what they've accomplished regardless of where they live. Good for them.
Re: Asia-Pacific is home to a rise in new self-made billionaires
#7Is this a contest where we should be rooting for a side or something? What's the significance of this? Is this some kind of national pride thing where I should be rooting for my home country to win? I'm happy for people that found success for what they've accomplished regardless of where they live. Good for them.
> Is this a contest where we should be rooting for a side or something?
Yes lets root for the side that doesn't use prisoners parts for medical experiments and steals intellectual property to develop their cheap knockoffs.
Re: Asia-Pacific is home to a rise in new self-made billionaires
#8It'd be interesting to be able to compare America and China through the lens of capitalism; at the moment I don't think China is transparent enough to really come up with anything meaningful. America is a lot less capitalist than it once was [0, 1] total government spending has gone from 10% GDP around the 1930 great depression (so, 9 private dollars for every public dollar) to about 30% post 1950 including State & L…
Only if people are compete fairly. Otherwise like Soviet Union has been better America in space industry ...
And when is America can reach the chinese market or except a few one way only.
And it is not just about money but those people use the money for. Re-educate Muslim in or next time American in ... good luck.
But it is important to have competition.
Re: Asia-Pacific is home to a rise in new self-made billionaires
#9I think it's not good to frame wealth creation in terms of billionaires.
Re: Asia-Pacific is home to a rise in new self-made billionaires
#10Sure but China inflated its currency, that's a redistribution to asset holders. The acomplishments are admirable all the same, but the accelerated climb is probably boosted by inflation. I predict a correction in next year's list.