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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

#41

Post by [deleted] »

CoreSet wrote: post #20
thesagan wrote: post #16

Earlier quoted context omitted.

They're not the same. For example, it's the U.S. that has the world's largest prison population and the world's most expensive healthcare, etc. China has different issues.

You're right that they have different issues, different problems, different strengths. But what irks me is the "what-aboutism." If Texas executes handicap people, that's awful. But it makes China harvesting organs OK? The U.S. has a horrible track record in Latin America and (frankly) around the world, so China gets some "slack" in how many human rights activists or lawyers it jails each year? I understand I'm respon…

[deleted]

Re: Asia-Pacific is home to a rise in new self-made billionaires

#42

Post by tehlike »

cromwellian wrote: post #36
trimbo wrote: post #31

Earlier quoted context omitted.

> devices now used extensively by the film industry. It's not a big enough industry to support their valuation. Many companies have developed clever equipment for the film industry over the decades[1] and none has been valued at $15bn for it[2]. As an example: Panavision sold for $622M last year. They really need to (edit: continue to) be selling to consumers. That said, I agree completely about their quality and suc…

Yes, DJI literally shocked me when I bought the Mavic. They completely bust the stereotype that China is bad at design and innovation, e.g. "Designed in California, Assembled in China". Everything from the build quality, to the packaging, documentation, software, even customer support has impressed me. They're like the canary in the coal mine, a wakeup signal for the Silicon Valley that thinks they're still on top be…

I feel same for xiaomi.

Re: Asia-Pacific is home to a rise in new self-made billionaires

#43

Post by tehlike »

xkcd-sucks wrote: post #26
cromwellian wrote: post #2

Count 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 t…

Xiaomi is another one, their build quality is good and they make a whole bunch of actually useful non "tech" things like escooters, air filters, vaccuums. I don't know if they're shady with finances or data collection though

I cant imagine xiaomis finances being balloon. I think it currently sits at 28b$ and makes it super cheap. Same goes with jd.

Re: Asia-Pacific is home to a rise in new self-made billionaires

#44

Post by psnatch »

tehlike wrote: post #42
cromwellian wrote: post #36

Earlier quoted context omitted.

Yes, DJI literally shocked me when I bought the Mavic. They completely bust the stereotype that China is bad at design and innovation, e.g. "Designed in California, Assembled in China". Everything from the build quality, to the packaging, documentation, software, even customer support has impressed me. They're like the canary in the coal mine, a wakeup signal for the Silicon Valley that thinks they're still on top be…

I feel same for xiaomi.

Their hardware, sure. Software, not so much. Mi Home is an abomination.

Re: Asia-Pacific is home to a rise in new self-made billionaires

#45

Post by tacon »

rgbrenner wrote: post #24
logicchains wrote: post #18

Earlier quoted context omitted.

Just like the Chinese got no chance to vote on America's unilateral sanctions against Iran, but are still subjected to them.

Iran was under UN sanctions at the time Meng violated those sanctions. China is on the UN security council, and as a permanent member, they have a veto. They did get a vote, and they voted yes. Are you somehow not aware of this? They were a founding member of the UN, and have been on the Security Council since it's beginning. They have abstained or voted yes on every UN action that involves the SC (international peac…

Are you somehow not aware of this?

The PRC became a permanent member of the Security Council (with a veto) only since 1971. Taiwan was the permanent member from 1945-1971.

Re: Asia-Pacific is home to a rise in new self-made billionaires

#47

Post by cromwellian »

sanxiyn wrote: post #39
cromwellian wrote: post #2

Count 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 t…

Bitmain absolutely is an amazing tech company. You may want to read 2018 retrospective at Bitmain blog: https://blog.bitmain.com/en/bitmain-following-a-busy-2018-wh...

The tech can be amazing, but the business itself can still be essentially, a kind of a ponzi scam. The vast majority of people cannot make money from an Antminer S15 unless they're able to steal electricity or get it super cheap. At current predicted hash rates, power consumption, and BTC prices, these miners are a wash, or net negative. (https://www.asicminervalue.com/miners/bitmain/antminer-s15-2...) That makes them a scam. Even if they were profitable, it would likely be temporary, meaning you'd have to buy a whole new suite of even faster HW as soon as everyone else buys them.

That's why I view this as selling pick-axes to unsuspecting and gullible farmers who sold their worldly possessions for the great gold rushes of the 1800s. The people selling the mining equivalent knew the vast majority of them would never earn anything. The best most amazing technologically advanced pick-axes in the world can still be a disrespectful business model.

Re: Asia-Pacific is home to a rise in new self-made billionaires

#48

Post by baybal2 »

cromwellian wrote: post #2

Count 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 t…

You are right, I'd say that true "big deal" companies don't "surface" in China.

For example, the near monopolist laptop and phone hinge manufacturer RKX did not have a website up until relatively recently.

The same is true for the biggest slip rings manufacturer in China Jinpat - was virtually unheard of even among engineers in China. Everybody only knew them as the no name slip ring maker, but few knew that they control almost all the market for microminiature slip rings, and high performance ones.

The tech big players in China are actual tech companies, not websites.

Re: Asia-Pacific is home to a rise in new self-made billionaires

#49

Post by baybal2 »

cma wrote: post #15
dominotw wrote: post #7

Earlier quoted context omitted.

> 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.

Do they execute the mentally handicapped like Texas? (I think China is much worse on human rights fwiw, we just have a long way to go)

No, but they deny them marriage certificates - medical exam is a prerequisite for one. If you are handicapped, bad luck.

Re: Asia-Pacific is home to a rise in new self-made billionaires

#50

Post by [deleted] »

cma wrote: post #15
dominotw wrote: post #7

Earlier quoted context omitted.

> 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.

Do they execute the mentally handicapped like Texas? (I think China is much worse on human rights fwiw, we just have a long way to go)

[deleted]
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