In the era of wiki/scihub/libgen, the whole tutoring industry is worthless. They are just making easy money taking advantage of information asymmetry. Generally, easy money will not be allowed in China. Edited: I'm talking specifically about Chinese tutoring industry. One comment below gives a very detailed description, which perfectly explains why I think it's worthless. We are all in the process of a revolution ini…
Xi Jinping’s Capitalist Smackdown Sparks a $1T Reckoning
11–20 of 125 posts
Re: Xi Jinping’s Capitalist Smackdown Sparks a $1T Reckoning
#12This article is pretty ridiculous and lazy. > After 40 years of allowing the market to play an expanding role in driving prosperity, China’s leaders have remembered something important — they’re Communists. China isn't a true communist state and hasn't been for a while. Yet the author feels the need to dunk on this straw man and defend capitalism and venture capitalists who lost money in the tutoring crackdown. The m…
Re: Xi Jinping’s Capitalist Smackdown Sparks a $1T Reckoning
#13Re: Xi Jinping’s Capitalist Smackdown Sparks a $1T Reckoning
#14In the era of wiki/scihub/libgen, the whole tutoring industry is worthless. They are just making easy money taking advantage of information asymmetry. Generally, easy money will not be allowed in China. Edited: I'm talking specifically about Chinese tutoring industry. One comment below gives a very detailed description, which perfectly explains why I think it's worthless. We are all in the process of a revolution ini…
Re: Xi Jinping’s Capitalist Smackdown Sparks a $1T Reckoning
#15In the era of wiki/scihub/libgen, the whole tutoring industry is worthless. They are just making easy money taking advantage of information asymmetry. Generally, easy money will not be allowed in China. Edited: I'm talking specifically about Chinese tutoring industry. One comment below gives a very detailed description, which perfectly explains why I think it's worthless. We are all in the process of a revolution ini…
If that were true then the entire education industry globally is a scam which i simply can't believe. Have you never had a great lecturer who can deliver information in a way which makes more sense to you then just reading it off a website?
Re: Xi Jinping’s Capitalist Smackdown Sparks a $1T Reckoning
#16It is so interesting to see the CCP try to navigate the dichotomy between state planning and free markets. Trying to make diametrically opposed systems play together. I would even be rooting for them if it wasn't for the complete disregard for human life, personal liberties and all the fucking genocide...
Re: Xi Jinping’s Capitalist Smackdown Sparks a $1T Reckoning
#17In the era of wiki/scihub/libgen, the whole tutoring industry is worthless. They are just making easy money taking advantage of information asymmetry. Generally, easy money will not be allowed in China. Edited: I'm talking specifically about Chinese tutoring industry. One comment below gives a very detailed description, which perfectly explains why I think it's worthless. We are all in the process of a revolution ini…
If that were true then the entire education industry globally is a scam which i simply can't believe. Have you never had a great lecturer who can deliver information in a way which makes more sense to you then just reading it off a website?
Re: Xi Jinping’s Capitalist Smackdown Sparks a $1T Reckoning
#18In the era of wiki/scihub/libgen, the whole tutoring industry is worthless. They are just making easy money taking advantage of information asymmetry. Generally, easy money will not be allowed in China. Edited: I'm talking specifically about Chinese tutoring industry. One comment below gives a very detailed description, which perfectly explains why I think it's worthless. We are all in the process of a revolution ini…
For example they are not allowed to teach calculus, despite calculus making the tests easier, for the exact reason public schools do not introduce it in the standard curriculum. Instead the schools are places to drill test taking and memorize tricks to be used on said single exam.
It is an entire industry geared to a single once per year test. Every dollar spent targeting said test is an economic loss. It is the exact sort of economic loss one should expect from perverse incentives. Banning this industry papers over the symptoms of a broken system, it is an obvious move but not a brilliant one.
Re: Xi Jinping’s Capitalist Smackdown Sparks a $1T Reckoning
#19It is so interesting to see the CCP try to navigate the dichotomy between state planning and free markets. Trying to make diametrically opposed systems play together. I would even be rooting for them if it wasn't for the complete disregard for human life, personal liberties and all the fucking genocide...
Re: Xi Jinping’s Capitalist Smackdown Sparks a $1T Reckoning
#20In China, politicians control billionaires. At least in theory, especially given how much the Chinese political establishment is attuned to the needs of the Chinese commoner, this does protect the national interest.