An Idol: Elon Musk
As the launch of the SpaceX Falcon Heavy rocket made headlines across the world, Elon Musk has become an idol for many in China’s tech community. Chinese social media was full of praise and admiration for a “thinker and doer” who dreams big but also gets things done.
Another article titled “China Has No Musk” went viral. The article traced the history of Musk’s various ambitious projects and the difficulties he had endured on his journey. “Maybe we can’t all be Musk, but all of us should learn from his internal strength and pursuit of dreams,” the article concluded. Tweet this
A Buzzword: Chūn Yùn (春运)
Because many popular train routes get sold out within one second, it is sometimes not humanly possible to purchase tickets manually. Many passengers rely on 抢票软件 (qiǎng piào ruǎn jiàn or ticket-snatching software) to get their tickets home. Tweet this
SoftBank is an existing investor in Didi, which raised $4 billion in December at a valuation of around $56 billion, as well as the largest shareholder in Uber. Citing anonymous sources, The Wall Street Journal reported that SoftBank believes Didi is in a better position than Uber in Japan because of the large number of existing Didi users visiting the country.
A Quote: How Xiaomi Engineered its Comeback
Xiaomi became the third-largest smartphone seller in the world in January according to IDC, and its shipments last quarter represented roughly a 100% year-on-year increase. During a speech last week on Xiaomi’s achievements in 2017, Lei Jun, founder and CEO of Xiaomi, said:
“2017 was Xiaomi’s ‘comeback year.’ Why were we able to realize the comeback? Because we always look at innovation with a telescope, yet look at quality with a microscope.”
In the same speech, Lei Jun also declared that Xiaomi’s next goal is to reclaim its spot as the No. 1 smartphone seller in China within 2.5 years.
This week also saw the first IPO of a Xiaomi ecosystem company, Huami, which makes wearable devices such as smart watches and bands. Huami went public on the New York Stock Exchange under the ticker symbol “HMI” and raised $110 million. Tweet this
Hans Tung, managing partner of GGV Capital, is an early investor and former board member of Xiaomi.