Douyin – the Chinese name of Tiktok – became a runaway success as a short-video platform in China. Tech watcher Matthew Brennan looks in his book ‘Attention Factory: The Story of TikTok and China’s ByteDance’ at the playbook Bytedance used for their lift-off before they took the platform global. An excerpt from Techcrunch.
Most Chinese tech companies tried to figure out what US consumers wanted before they entered the market, but Bytedance did not care when it launched Tiktok in 2018, says internet veteran Matthew Brennan in his book “Attention Factory: The Story of Tiktok and China’s Bytedance.” The lack of strategy almost backfired, but after some hiccups, the company became a runaway success, Brennan writes in an excerpt in Technode.
Only half a decade ago Silicon Valley thought China becoming a force of innovation was preposterous. Now, under Trump, China has proved them wrong, says business analyst Shaun Rein in a wide-ranging interview with state paper Global Times. Also: China’s successful fight against Covid-19 and decoupling economies.
Shanghai-based VC William Bao Bean explains that entering a new market means leaving behind the experience to collected in the past, leave behind your cultural baggage, and learn from your mistakes. William Bao Bean is a General Partner at SOSV – The Accelerator VC – the #2 most active angel and seed-stage investors in the world 2019 with US$700m under management.
For a while, London was in the running to get the Tiktok international headquarters, but under the Tiktok-Oracle deal the UK’s capital seems to have lost that opportunity, says China internet watcher Matthew Brennan to CNBC. That seems another setback for the UK now the country is already suffering under the corona crisis and Brexit.
Financial analyst Sara Hsu, co-author of the 2020 publication “China’s fintech explosion”, discusses how tech companies became the leaders in fintech, leaving the country’s giant banks behind. She addresses an online panel of USC’s US-China Institute and explains how an underserved community offers a fertile basis for the fintech explosion.