For a long time, working around the clock – from 9 to 9, six days a week known as the 996-rule – was common in China’s startup working culture. But those times are changing, says SOSV managing director William Bao Bean, a leading voice in China’s startup scene to the BBC. “China has moved from a society that was told what to do, to one that is doing what it wants to, and that’s also a millennial thing,” he says.
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China’s financial authorities might be wary of Bitcoins and other digital currencies, but the country is embracing the underlying blockchain technology. Self-driving cars, agriculture, retail and other industries use the deep pockets of the government to introduce the new technology.
At the China Speakers Bureau, we offer a range of speakers who can help you to make sense out of this new direction China is taking, leading the way for global innovation.
William Bao Bean, managing director of the Shanghai-based Chinaccelarator, tells about his busy week, trying to help foreign startups to enter China and helping Chinese companies to go global. The main problem of his international operation? “You never have a holiday.”
If at any place the switch from brick-and-mortar is going fast, it is China. Permanent online consumers comment, exchange information, and buy 24/7. When you sit down in a restaurant, you first ask the code for the free wifi, before the menu. When you travel abroad, you constantly discuss with friends and family back how, what to buy, or what not to buy.
From a cash country, where transactions were done by moving plastic bags with money between bank branches, China has turned into a leading force in fintech or financiel technology. Mobile payment are standard. Bitcoins and blockchain technology found in China early adopters. Social media have – more than anywhere in the world – adopted payment systems to facilitate online trade.
Startups are mostly at the mercy of quasi-monopolies like Facebook, Google, Tencent or Alibaba. William Bao Bean, managing director of Shanghai-based SOSV tells in this elevator talk how his no.1 accelerator helps them to avoid spending money on those giants to get access to an audience, creating a win-win situation.
Most internet startups are at the mercy of Facebook, Google, and in China Tencent or Alibaba. William Bao Bean, managing director of Shanghai-based SOsV, co-founded the Mobile Only Accelerator MOX, an independent platform offering not only capital but also an audience to launch, he explains in the News Lens.
In the search for answers to the question why Chinese companies do so well, corporate analyst William Bao Bean sees one key difference with Western competitors: many Chinese companies skipped the middle management and organized internal structures fundamentally different, he explains in Venturebeat.
Foreign companies fear an increasing risk in China, now the government is tightening legal supervision, fighting corruption and banning business practices that were considered to be common up to a year ago. GSK might be one of the high-profile cases in the anti-corruption drive, but no foreign company or industry is not worried about those changes. The China Speakers Bureau can offer a range of experts on risk management in China.
Chinese companies are making great strides in using machine learning or AI. One of the reasons is that China’s WeChat is better fit than Facebook to integrate this disruptive tool, says William Bao Bean, director or the Chinaccelerator to eMarketer about influencer marketing in China.