Again i feel like everybody is using the word start up to replace the word business.
12,000 startups are being created every day in China [video]
61–70 of 75 posts
Re: 12,000 startups are being created every day in China [video]
#62Fascinating 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…
9% pa. guaranteed by a bank is amazing in a strong currency like the yuan.
It is not a ponzi per se since money actually flows into real investments; however there is probably a "systemic" risk at the level of the Chinese economy as whole.
Funny that this excellent documentary is made by the Japanese national TV channel NHK. There is quite contrast between China and Japan today wrt. speed, risk taking and growth.
Re: 12,000 startups are being created every day in China [video]
#63China really has to do something to create their "own" companies. If they do nothing and the rest of the world decide to move manufacturing, either home or elsewhere, China will go back to be a poor 3rd. world country.
No one will be keeping their business in China due to not being able to get the same quality else where, or because the Chinese is such nice people to do business with. So it makes sense to fund and encourage new businesses so China can start to produce their own product, and not just be a big factory (and copy machine).
Re: 12,000 startups are being created every day in China [video]
#64my friend went there and opened one a few years ago. it's relatively easy to open one I was told but it's super painful to close that, even though it's a small startup and financially clean, still do not know how he could ever close that, many procedures, paperwork, financial check everything he could not supply as a small player,etc. it's just impossible to close i guess. basically it looks to me that it's a easy-in…
"but it's super painful to close"
China the Hotel California of SME's
Re: 12,000 startups are being created every day in China [video]
#65Re: 12,000 startups are being created every day in China [video]
#66Earlier quoted context omitted.
'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.
I'm sorry, I don't see where we disagree... What do I have 'backwards'?
I said SMEs that 'have been around years, are stable etc.' is a misuse - not newly created businesses (high growth or not).
Re: 12,000 startups are being created every day in China [video]
#67Earlier quoted context omitted.
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 unce…
That the lean startup methodology might in some ways apply to other businesses, does not make them startups.
A single hot-dog stand will not do something that will change the economy, create 10K jobs, attract investment, R&D etc..
Re: 12,000 startups are being created every day in China [video]
#68Earlier quoted context omitted.
Why would any foreigner want to start a company in a country that - requires you to give up 50% to a local partner - blocks internet access to foreign websites (thus foreign customers) - can take away your business/assets/customers without trials - treats foreigners as a mere entity to steal technology and clients from?
As an American that has 100% ownership in two China legal enterprises, not sure where some items in your bullet list are coming from. Yes, there are unique difficulties. No, communist hard-liners are not setting over my shoulder plotting to take my business without a trial.
What cities/towns are the enterprises located in? What was the most difficult thing you encountered so far?
Re: 12,000 startups are being created every day in China [video]
#69Earlier 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…
Ng may be right, and the article suggests a massive upsurge in papers in the last 3-4 years, but I'm dubious about quality, if the AI field is anything like neuroscience was. When I was back in grad school, I worked with a prominent Dutch researcher who routinely saw his papers translated into Chinese and re-published by Chinese authors as their own.
At first, it drove him crazy, and he tried to get them to stop, issue retractions, etc. But he eventually learned to roll with it. The people involved may have had excellent careers at home, but were contributing no new knowledge, and just taking up resources.
Re: 12,000 startups are being created every day in China [video]
#70Earlier 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?
If anything, the population is underreported. The 2010 census claims it to be around 1.3 billion. But it is widely accepted as a fact that a lot of people in the countryside weren't included in the census because they are "illegal" additional children born in defiance of the one-child policy, and were simply hidden in the basement during the census, as they are hidden whenever any government check is happening.
Those children have no rights, and according to the state, don't exist. They can't go to school, get an official job, etc. They are born to do physical work on the fields and support their parents into their old age.