Right here is how noxious China's startup scene looks to be like now | TechCrunch – Techcrunch
In early 2018, VC Mike Moritz wrote in the FT that “Silicon Valley may maybe presumably presumably be wise to observe China’s lead,” noting the tempo of work at tech companies used to be “mad” and that China equipped “investment alternatives in the finest companies.”
Quickly after, it all imploded. Worse, because the FT notes in a unusual share, between the pandemic, the bursting of an right estate bubble, tensions between the U.S. and China and, most of all, a sweeping govt crackdown on tech companies, China may maybe presumably maybe never fully rebound, even because the government claims to be completed with its alleged just genuine-looking-up efforts. It’s actual now now not worth it to entrepreneurs to rebuild what they’ve misplaced.
Says one primitive multi-millionaire to the FT about the dispute of China on the present time, entrepreneurs know that “their cash is the country’s cash.” As for the VCs and PE execs who fueled the sooner growth, one more source tells the outlet: “Now they’re sad. You don’t watch them anymore.”
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