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

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

#51

Post by webmaven »

edblarney wrote: post #42
gentro wrote: post #21

Earlier quoted context omitted.

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'.

They are startups. It's just that the use of the term has shifted a bit. What we commonly refer to as "startups" today used to be called "high-growth-startups" (or -ventures, or -businesses) not so very long ago, and the unqualified noun referred to any new business.

This is actually important, as, for example, the Lean Startup methodology is applicable to almost any new venture that has to deal with significant uncertainty, regardless of whether it is a high-growth venture, an SME such as a VAR, or non-tech lifestyle businesses.

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

#52

Post by omarchowdhury »

zhte415 wrote: post #49
omarchowdhury wrote: post #37

Here's an example of one of these startups: https://www.aiadvertising.org/

Is this a parody? It is far better done than most China serious companies with similar delusions.

I saw it listed on AngelList today.

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

#53

Post by webmaven »

OJFord wrote: post #35
cscurmudgeon wrote: post #26

Not all businesses are "startups", the way the word is used in the West.

'Startup' comes from 'start[ing] up a business' - so 'startups are being created' doesn't strictly speaking make sense, or at least calling them 'startups' isn't adding anything not provided by 'created'. You're right that the word is increasingly used to refer to SMEs that have been around years, are stable, etc. - just because it carries weight as a buzzword. But in the context of newly created businesses, that's e…

You have it backwards. The term "startup" today commonly refers to what used to be called a "high-growth startup". The fact that new businesses such as SMEs that are not intended as high-growth ventures are using the term is a reversion to the original meaning.

It is no bad thing to have to start using the "high-growth" qualifier again.

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

#54

Post by TheSpiceIsLife »

golergka wrote: post #50
kitschshrine wrote: post #12

Earlier quoted context omitted.

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?

Genuinely curious, what are the incentives to over report population?

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

#56

Post by ch4ck »

TheSpiceIsLife wrote: post #54
golergka wrote: post #50

Earlier quoted context omitted.

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?

Genuinely curious, what are the incentives to over report population?

Subsidies?

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

#57

Post by zhte415 »

omarchowdhury wrote: post #52
zhte415 wrote: post #49

Earlier quoted context omitted.

Is this a parody? It is far better done than most China serious companies with similar delusions.

I saw it listed on AngelList today.

Wow. This is Time Cube level stuff.

And knowing China FinTech, as currently working in it, they could well believe themselves.

--

A broadcast message to investors: There is no China magic. There is little innovation. There is a lot of following buzzwords. There is a lot of iteration, however. Follow the companies that iterate, even on old-tech like mainframe. They're where value happens.

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

#58

Post by golergka »

TheSpiceIsLife wrote: post #54
golergka wrote: post #50

Earlier quoted context omitted.

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?

Genuinely curious, what are the incentives to over report population?

Doesn't it determine budget distribution from the central authorities?

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

#59

Post by emiliobumachar »

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…

Wow, the bike rental app is awesome. Do you know how they prevent theft?

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

#60

Post by chvid »

kitschshrine wrote: post #22
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…

> And they do not have subpar education you seem to be wanting to argue about something which I did not even bring up. internet is not a place you start arguing with yourself. > it's not more restricted than in the west Yeah....you keep telling yourself that. I don't think you've actually been to China where foreigners struggles to hit youtube/facebook/google using a variety of VPN tools every day I think I'll stop..…

The answer is obvious: They want to tap into the largest growth market in the world.

And in many ways it is a plus that is not heavily regulated and dominated by a few american tech giants.

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