For those willing to put in the time, rural China is a giant, untapped market opportunity.
Pinduoduo made it big with rural users before wealthy Chinese urbanites had even heard of the app. Other companies and investors could follow in its footsteps. Credit: Pinduoduo
A little less than a year ago, when the reality of the pandemic had yet to hit California, I caught up with my friend, Ron Cao, on one of his regular trips to Silicon Valley. Ron is a seasoned venture capitalist who has spent two decades in China, invested in many of the biggest hits of the last decade — Meituan, ByteDance, etc. — and eventually opened up his own fund called Sky9 Capital. Our favorite topics whenever we get together are, of course, cross-border learnings and future opportuni
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In an extract from his new book, Breakneck, Dan Wang hops on his bike to explore how China’s problems throw America’s into stark relief. How is it, he asks while biking through Guizhou, that China’s poorest provinces have better infrastructure than America’s richest states.
The dissident scholar discusses public expression in China, the nuances of China-watching, life under government blacklisting, and how patterns of Chinese self-censorship echo across the American political spectrum.
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