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by not_that_noob
2876 days ago
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Some of this is of course the Chinese government placing its thumb on the scales in favor of local businesses. It does this for a lot of reasons, but it's clear it happens. However, compare the situation to other more open countries (e.g. India, Japan, Indonesia ) There are culture, social and language specific nuances that local entrepreneurs understand far better than outsiders, and that accounts for a significant portion of these copycat business success. I think American business generally have a tough time accounting for the latter into account when they go overseas. IOW, not all of Jack Ma's success stems from the government being on his side. |
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WeChat might have had the advantage of the Great Firewall, but they have also built a genuinely innovative platform that is better suited to the Chinese market and in many respects much more sophisticated than any Western equivalent. No western company would have grasped the importance of hongbao or implemented it so skilfully. No western company could have anticipated the hugely positive reaction to WeChat Moments advertising and the remarkably high CPM.
I think there's a certain "not invented here" attitude prevalent in Silicon Valley. We do iteration, they do copycats. We build a better mousetrap, they make shitty knock-offs.