The US and China continue to lead the Hurun global unicorn list for 2021, says chief researcher of the report, Rupert Hoogewerf, although China is slightly behind the US, according to the Free Malaysia Today. “With its flagship TikTok closing in on 3 billion daily users, [ByteDance] has now grown to become a serious challenger to Facebook,” the report said.
China watcher Kaiser Kuo discusses Western narratives on China’s rise. Technology did not beat authoritarian regimes, he explains, just as other Western views on China were profoundly wrong. The Arab Spring uprising was the first sign technology did not bring repression down, but not the last one, he argues.
Third-generation social media are getting ready to emerge, and marketing specialist Arnold Ma explains how Tiktok – Douyin in China – is leading the way away from platforms to content-driven communication, he tells at the UK Advertising Exports Group (UKAEG) at Shanghai International Advertising Festival (SHIAF) July 2020. Will WeChat survive in the new digital revolution? How 5G will change the world.
TikTok has already decided to leave Hong Kong and other Western social media like Facebook and Google are trying to figure out what to do after China introduced its national security law to Hong Kong and they might have to cooperate with local police. Business analyst Shaun Rein suggests they would better off leaving Hong Kong altogether, in the South China Morning Post.
Many industries have to rethink the way their business and business models are organized when they resume action as the coronavirus crisis subsides. The travel industry is one of them, says Shanghai-based VC-veteran William Bao Bean, at WebInTravel. “Travel needed to solve a very big problem – high customer acquisition costs – and he said it needed a new model in which everyone wins, and not like now “where everyone loses but the platform”.
The plan to ban immigration by US President Donald Trump will be mostly hurt US tech companies who cannot recruit talents anymore, says business analyst Shaun Rein to the BBC. “Now, with the immigration ban, more top Chinese, Indian and other foreign talent will seek jobs in tech hubs globally like Shenzhen, Seoul and Bangalore rather than Silicon Valley,” Shaun Rein adds.