Gurley says China ensures 500 to 1000 competitors in target industries, letting markets select winners rather than state sponsorship.
“in these industries where they wanna succeed, they actually make sure that there are 500 competitors or a thousand competitors. And then they let the market whittle down to what the best one is.”
Gurley explains China ensures 500 to 1000 competitors in target industries, letting markets select winners rather than state sponsorship.
“what I really uncovered the detail on is that in these industries where they wanna succeed, they actually make sure that there are 500 competitors or a thousand competitors.”
Gurley argues Chinese government deprioritizes market cap, citing BYD's recent 30% price cut as evidence of different objectives.
“The the Chinese government may not consider that part of the objective function of what a win is. And in the past three weeks, we saw BYD take prices down 30%.”