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important challenge for China over the next twenty years is to modernize its system of capital allocation.
Within four weeks, they had figured it out. The first glass screens were cut, ground and shipped out to Foxconn where they arrived in the middle of the night.
incredibly fast, flexible, and smart the Chinese manufacturing ecosystem is.
had 8,700 Chinese industrial engineers overseeing production.
In China, they found them in about 15 days.
Chinese government has been very focused on developing skilled human capital on
wasn’t green energy technology supposed to be a sector where Western companies had advantages.
“sea turtles”, after animals that return home after a long journey.
three separate mega-trends. The second is how rapidly competition emerged.
cost innovation.
you don’t need to have novel product innovation to be innovative.”
China R&D is a big wave at the moment.
VW continues to conduct most of its basic research outside of China.
the education system is still a work in progress.
China is today the world’s leading patent filer, followed by the United States and Japan. On
Very few of these patents are at a quality level one would consider comparable to Japan or the West. So,
The quality follows from this process over time.
China was the first country to designate Internet addiction as a disease.
the Internet is letting people become inter-connected for the first time.
it was actually quite small for a long time.
Wechat (and QQ) has exploded to more than 700 million users.
Tencent is “a little like what you would get if you combined AOL, Facebook, Skype, Yahoo, Gmail, Norton, and Twitter under one roof.”
Tencent’s free gaming modules within their service.
web portals, and other services create an online ecosystem for the user to live in online.
The end result is lots of tiny fees multiplied across a huge volume of activity.
The only advice I can give is to learn from Tencent fast, because these guys mean business and they know what they’re doing.
Chinese Internet users spend 19.9 hours online per week.
Less than 30 minutes
emailing versus 5 hours in the US
The Chinese government has implemented a rule that requires people under the age of 18 to present their IDs in the cafes and to limit their gaming time to 3 hours per day.
People overwhelmingly don’t trust what they read or what they are told.
Lancôme became the largest commercial cosmetics forum in China with over 100,000 members.
According to the Boston Consulting Group, 7 percent of Chinese netizens drive 40 percent of online sales.
Alibaba’s one day promotion generated $17.8 billion in 2016.
Baidu in search, Tencent in instant messaging and gaming, and Alibaba in e-commerce.
Chinese Internet is a winner-take-all, ruthless business - and companies are willing to bet it all to win.
there are powerful economic and demographic mega-trends shaping things on the ground – irrespective of booms and busts.
