China is keen to deploy self-driving cars for the same reasons as everyone else is: Autonomous vehicles may significantly improve traffic and environmental conditions. According to research figures, widespread adoption of automated vehicles could reduce automobiles on city streets by 60%, vehicle emissions by 80% and traffic accidents by 90%. While the West has superior technology, its governments lack the authority to swiftly implement massive infrastructure projects. Some experts believe Beijing’s top-down control capabilities could even give China an edge over the US and Europe in the race to develop self-driving cars.
One of the topics favored most by Chinese tech people is which city, or region, in China will become the next “Silicon Valley”. While observers have not gotten bored of guessing which one will be the next “unicorn” company, those who are really in startup companies have realized the fact that the China startup scene has peaked: many companies have died, using up the money given by investors but keeping no loyal users at all. Read our story about China’s startup bubbles and find how these bubbles, blown up by ambitious yet empty ideas, business plans and investors’ ignorance, finally fall and burst.
Imagine when you walk in a shopping mall, a mobile advertisement pops up on your phone, giving you a coupon on exactly what you planned to buy. Or speaking to your friend about an interesting ad you saw on Facebook then discovering, to your surprise, that your friend is also interested in buying that exact product—that’s the beauty of well-designed marketing, thanks to big data. Professor Ghose at Stern Business School analyzes what consumers do with their smartphones and how businesses can tailor effective offers that occur at the optimal time, while also ensuring that information exchange is a healthy two-way street.
Traffic in major cities around the world is deteriorating. Jerry Sanders, CEO of SkyTran, believes that the solution lies above the road, not on it. SkyTran, a NASA-backed company, has been developing a personal rapid transportation system with small, computer-controlled Maglev capsules running on elevated rails. The capsule-shaped car looks futuristic, but the company has already built a demonstration system in Tel Aviv and is currently building a commercial system in Abu Dhabi. Is elevated transit a practical solution for traffic jams? How will it fit into our cities and existing infrastructure? Will it replace traditional means of transportation?
China is taking on some of the most expensive big science projects, for example, the world’s largest radio telescope and a particle accelerator that researches the world’s most elusive particles. Are these science projects only there to display the country’s monetary power or will they help to restore the country’s past glory of an ancient civilization with a high level of advancement? And will this make China a better place for scientists?
Technology has helped demolish walls between different industries and many tech giants are investing in different sectors. LeEco stands out amongst its peers for its ambition and audacity, its ultimate ambition is to build an ecosystem through quick—and diversified—acquisitions and investments. The company has transformed from one focusing on just video content to one that makes smart TVs, smartphones and even cars and virtual reality headsets. Although many people doubt its capabilities, the company seems to be doing well financially. But what does the future hold? Will its audacious plans succeed?
With humble beginnings in Hangzhou, Jack Ma went on to create an e-commerce titan that has grabbed the attention of China and the world. Today Jack Ma and Alibaba’s story has become the stuff that legends are made of. Duncan Clark has witnessed firsthand Jack Ma’s dizzying rise in China’s e-commerce firmament. A former investment banker at Morgan Stanley, Clark first got to know Jack Ma in 1999 when he met him in the small Hangzhou apartment where Ma and his friends famously founded Alibaba. In this interview, Clark, also the author of Alibaba, the House that Jack Ma Built, talks about Alibaba’s incredible story and its impact on China.
Xiaomi, once the most popular smartphone vendor in China, is showing signs of decline. Back in the day, Xiaomi broke the mold by offering a feature-rich phone at an impossibly low price point. Its unique marketing strategy and business model helped it to break online sales records. But soon others started copying Xiaomi’s strategy and the novelty wore off. The company has been slow to innovate. For phone buyers, Xiaomi ended up being a low-end phone: once they had enough money, they would upgrade to an Apple or Samsung. Today Xiaomi is quickly diversifying from phones to rice cookers and drones. But is that enough to come back to relevance?
Currently the most valuable fintech company in China, Alibaba’s Ant Financial owns a myriad of businesses: China’s largest payment tool AliPay and a variety of financial services in areas like banking, funds, insurance, credit scoring systems, etc. With over 400 million active users, it has ambitions to expand further into the Chinese hinterland as well as into global markets—something never done by Chinese financial companies before. How will Ant realize its elephantine goals? What is the logic behind its diverse businesses and which one is the focus? Can Ant become the Taobao of the financial industry? We offer some answers.
Greater China is now Apple’s number two market after North America, comprising 24% of its business. In October, Apple CEO Tim Cook told investors he expects Greater China will eventually become the company’s top global market. To be sure, Apple faces challenges in Greater China. Sales in the region rose 14% in the company’s first fiscal quarter ended December 26 to $18.4 billion, compared to 70% in the same period a year ago. In a January earnings call, Cook said Apple is starting to see “signs of economic softness” in Greater China. Does the tech giant have staying power in what is now its number two market?