A Big Deal
Baidu released Apollo 1.5, a new open-source autonomous driving framework, shortly after announcing a $1.5 billion fund to invest in 100 autonomous driving projects over the next three years. According to the company, Apollo is widely regarded as the “Android of the auto industry.” Its GitHub repository has already received over 2,000 commits and 5,000 stars.
#1 – Hangzhou’s rank among all Chinese cities in terms of net talent inflow. The southeastern city’s “brain gain” can be partly attributed to the large number of Silicon Valley returnees working at Alibaba, which dominates the city’s economy. Within Ant Financial (Alibaba’s fintech arm), there is a WeChat group called “Return of the Heroes (大圣归来)” with over 130 employees who joined the company after returning from overseas. Many of them used to hold important positions on the engineering teams of Silicon Valley companies like Google and Amazon, but chose to return to their home country, lured by the excitement of working at fast-growing domestic companies. “They used to say that our motherland needs these returnees. Now, the returnees need our motherland,” Ant Financial’s head of HR told a newspaper.
十万加 Shí Wàn Jiā (a hundred thousand plus)
Anyone who reads articles on WeChat knows that the bottom of the page shows the number of views each article has received. Tencent stops counting after a hundred thousand, only reporting its signature “100000+.”
In an age where there is so much information vying for Chinese readers’ attention, the race to Shi Wan Jia has encouraged some unhealthy tendencies in the media industry, including the use of sensational (sometimes downright untrue) headlines and widespread plagiarism.
GGV Capital will be bringing together entrepreneurs and technical executives from major Chinese tech companies including Alibaba, Tencent, JD.com, Dianping, and others to discuss why they have forgone lucrative opportunities at American companies to jump into China’s tech scene. It will take place at 4pm on Saturday, October 7 at Stanford GSB. This event will be in Chinese. Registration is required.
Zhang Tao, Founder of Dianping
Hu Xi, Partner at Alibaba; VP at Ant Financial
Ma Song, Senior Vice President at JD.Com
Xu Peng, Senior Director of Engineering & Head of Silicon Valley AI Lab at Ant Financial
Liu Han, Director of Machine Learning at Tencent AI Lab
Zheng Zhaohui, Founder & CEO, Particle Media; Founder, Yidian Inc.
Hans Tung, Managing Partner at GGV Capital
Shuang Yang, Principal Engineer & Senior Director at Ant Financial (Silicon Valley)