Privacy concerns, marketing and local regulations on data security are just a few of the barriers China’s tech companies face when they want to go global, says seasoned VC William Bao Bean at the China Technode Emerge 2020 conference in Shanghai last week. Geopolitical tension are way overrated as possible hurdles, he adds, according to Technode.
Already before COVID-19, American and Chinese internet giants fought for dominance in the booming market for food and grocery delivery, and the coronavirus crisis had cause another boom in the market, says William Bao Bean, managing director of global venture capital firm SOSV in Shanghai in Marketplace. Having dominance in their home market helps the Chinese players.
Shanghai-based VC William Bao Bean looks at the world after the COVID-19 recession will be gone. Fintech will go through the roof, like all things digital, home delivery, and health care applications he tells at this debate on India and China how the world will learn from China coronavirus crisis.
India has been one of the hotspots of investments from China, but that might end now the hostilities between both countries increase, says business analyst Shaun Rein to AP. Chinese apps have already been banned by the Indian government, and startups seem to be next. Anti-Chinese feelings among consumers might be putting Chinese investors also off.
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.
Health organizations have been warning for shortages in essential drugs, now supplies from China are disrupted. But the problems are more fundamental than a concentration of drug production in China, also Indian manufacturers get into trouble, warns business analyst Shaun Rein at the BBC.
The annual Hurun Global Rich List counted today more billionaires in China than in the US and India combined, says Rupert Hoogewerf, chairman of the Shanghai-based Hurun Report after its publication on Wednesday, to Caixin. In 2019, China created 182 billionaires, three times the number as those in the U.S., according to the Hurun Report.
Startups from India can profit from previous experiences in China, says startup guru William Bao Bean, managing director of the Shanghai-based Chinaccelator to Livemint. “I’m not saying China is the same as India, but the challenges people face in Tier-2+ cities in China were similar to those that people outside Indian metros face. So the approaches that worked in China are more likely to work in India than the approaches that worked in the US,” he says.
The Indian startup TryNdBuy has been adopted by the Chinaccelerator, and Shanghai-based managing director William Bao Bean explains why the virtual fitting room has a good chance to succeed in China, he tells at Livemint. Up to now, every virtual fitting room including Amazon and Microsoft, makes the consumer look bad, he explains.