Taiwan used to be one of Asia’s economic tigers, but has a hard time to follow dynamic change of the past decade. VC-veteran William Bao Bean tells the Red Herring what the island can do to improve its startup culture and lure Taiwanese entrepreneurs back.
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Protestantism, Buddhism and Taoism grow fast in China, but followers of the Catholic faith are dwindling. Author Ian Johnson of The Souls of China: The Return of Religion After Mao reports from the countryside on why Catholicism finds it harder to find a solid footprint among Chinese looking for moral values, for the America Magazine.
Both Tencent and Alibaba have become power players, even eclipsing the formerly leading economic state-owned companies, says innovation-specialist Matthew Brennan in ATimes. So maybe they [think they] need to clip their wings a little,” adds Mr Brennan.
Getting space in travel is hard for startups in new technology, says VC-veteran William Bao Bean, general partner at SOSV, as companies like Priceline and Ctrip in China dominate the industry. Unless you are able to solve specific problems, he tells WebinTravel.
A major shift is taking place in financial IT investments, tells William Bao Bean, managing director of the Chinaccelerator at CNBC. In the past 15 years VC’s helped to solve basic problems, he says. That’s done and we move now to AI.
Try to solve a problem, do not focus too much on your own product, tells Chinaccelerator managing director William Bao Bean at a CNBC tech talk panel in Singapore entrepreneurs looking for VC money. He saw too many entrepreneurs trying to enter China and Asia without asking themselves whether it was needed.
Financial scams are emerging in China on an epidemic scale. Rising costs of living have enticed many to join these scams, says Victor Shih, associate professor in political economy and China expert at the University of California San Diego to the BBC. Local government did not step in.
China has lifted hundreds of millions out of poverty and president Xi Jinping vowed to give the last millions of poor also a better life. Economics professor Sara Hsu of the State University of New York explains in CCTV what the country’s receipt for poverty relief has been.