The 2008 Beijing Olympics were packed with made-for-TV moments. Jamaican sprinter Usain Bolt set three world records, often smiling as he crossed the finish line. Michael Phelps, the American swimming superstar, won an improbable eight gold medals. And the opening ceremony, held in the Bird's Nest Stadium, dazzled an international audience with thousands of drummers and fireworks lighting up the night sky.
Such images helped forge a narrative of the Beijing games as a successful "coming out" party for first-time host China. For U.S. broadcaster NBCUniversal [NBC], meanwhile, it added up to a ratings bonanza. Over sixteen days, 211 million viewers tuned into its coverage, making it the most watched television event ever in the United States.
In less than two weeks, the Olympics will return to Beijing for the 2022 Winter games. But with China facing a new Covid surge caused by the Omicron variant and ten countries — including the U.S. — staging a diplomatic boycott
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At first glance, the recent raid on Capvision, a Shanghai consultancy, looks similar to the raids on foreign firms Mintz Group and Bain & Company. But there are reasons to separate Beijing's crackdown on Capvision. For starters, Capvision is Chinese and its shareholders and investors include a network of remarkably high profile and state-connected individuals and companies.
