12,000 startups are being created every day in China [video] • Hacker News Board

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

#71

Post by idra » Wed, Mar 08, 2017, 10:14 AM UTC

eritansa wrote: post #38

bobjordan wrote: post #34

Earlier quoted context omitted.

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.

It seems a lot of people still have this old idea about China. The 51% Chinese ownership requirement hasn't been a thing for almost 20 years.

That's only if your company is a Wholly Foreign-Owned Enterprise (WFOE), which come with its own special set of deliberately roadblocks which are not there if a Chinese partner is involved.

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

#72

Post by idra » Wed, Mar 08, 2017, 10:15 AM UTC

mrweasel wrote: post #63

China 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 en…

China has never stopped being a poor third world country.

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

#73

Post by idra » Wed, Mar 08, 2017, 10:19 AM UTC

zhte415 wrote: post #57

omarchowdhury wrote: post #52

Earlier quoted context omitted.

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.

Extremely accurate and valuable comment, thank you. Your "broadcast message" explains the situation very concisely.

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

#74

Post by webmaven » Thu, Mar 09, 2017, 3:25 AM UTC

OJFord wrote: post #66

webmaven wrote: post #53

Earlier quoted context omitted.

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).

Ah, I read too much into that bit. My apologies.

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

#75

Post by webmaven » Thu, Mar 09, 2017, 3:34 AM UTC

edblarney wrote: post #67

webmaven wrote: post #51

Earlier quoted context omitted.

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..

> A single hot-dog stand will not do something that will change the economy, create 10K jobs, attract investment, R&D etc.

Well, you never know (McDonald's was once a small new company).

But that was exactly what I was trying to say: High-growth companies with those sort of ambitions are not the only kind of startup. ALL new ventures are startups, even if they are not intended to grow much, and including quite a few that aren't even necessarily businesses at all.