They were speaking about 5 markets, that developed rapidly in China:
- e-commerce, based upon b-t-b
Before Chauncey Shey became Managing Partner he encouraged two major innovations. The first one was in the field of mobile: he introduced a very cheap phone for the poor people in China, mostly used by people living in the countryside, farmers. 100 million people within 2 years!
Then he invented a very cheap computer with peer-to peer streaming technology. Again within a few years a 100 million units out there! Video streaming is a huge topic, also in China.
These are all bottom up processes!
Imagine what impact these innovations have on the chinese market and compare to the innovations we have in Europe!
Third aspect of innovation: creativity made in China. A young student invented the character TUSKI, a cartoon character. It was bought by Time Inc. and brought out to the world. And there is more to come … the more students are finishing their studies …
Fourth market: games! It is no longer about outsourcing computer design and programming. It is about establishing own business models in giant markets and bringing them abroad. The biggest gaming communities are in China and South Korea.
The last market Weigend was looking at was the e-commerce market. He pointed out alibaba.com, the leading source of import-export trade leads, suppliers and business opportunities in China and around the world. 8 million companies are on this network. The total revenue: billions and billion of USD!
And the last remark is about Google in China. Google is still failing. The biggest and most important search engine is baidu – much more intelligent and usercentric than Google. Just check it out!