This Week in Startups Rapid Fire News: China’s techlash continues, Tesla’s incredible Q2 earnings, Tether holders move to USDC & more | E1254
Jul 27, 2021
China continues to tighten its grip on big tech, causing upheaval in the financial landscape. Tesla celebrates a stunning Q2 with over $1 billion in profit, showcasing its business resilience. In the crypto world, Tether holders shift $300 million to USDC amid growing concerns. The rising trend of pump-and-dump schemes in crypto raises red flags for investors. Lastly, discussions highlight the risks of navigating unregulated markets and protecting intellectual property, exemplified by the tumultuous fate of a Chinese entrepreneur.
AI Snips
Chapters
Transcript
Episode notes
China's Tech Risk
- China's government exerts significant control over its tech companies, changing rules without warning.
- This creates a risky environment for investors, as seen with Tencent's recent losses.
Larry Chen's Loss
- Larry Chen, a Chinese education entrepreneur, lost 90% of his $15B net worth due to the CCP's crackdown.
- This highlights the vulnerability of fortunes in China's volatile market.
Tesla's Success
- Tesla's Q2 earnings exceeded $1B in profit, demonstrating remarkable growth and profitability.
- Their success stems from strong product offerings and expanding energy business.