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Direct Monotization Is the Most Powerful Business Model for Social Laps in China
Andi: The china business model is actually a really elegant way to do that. If you allow for virtual goods, gifting and tipping, that the consumers can show their appreciation to the creators for any given piece of content,. And then those creators are able to exchange those gifts, converted in in part or whole, into actual cash. Now you can start to make a living and and build a middle class on a platform. So this is happening in china, and quisho is the pioneer of this. Remember, quisho's user base is primarily rural. This is pre pinduoduo daysa, which we should definitely cover on other episode, but don't...
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