• Tech News
    • Games
    • Pc & Laptop
    • Mobile Tech
    • Ar & Vr
    • Security
  • Startup
    • Fintech
  • Reviews
  • How To
What's Hot

Elementor #32036

January 24, 2025

The Redmi Note 13 is a bigger downgrade compared to the 5G model than you might think

April 18, 2024

Xiaomi Redmi Watch 4 is a budget smartwatch with a premium look and feel

April 16, 2024
Facebook Twitter Instagram
  • Contact
  • Privacy Policy
  • Terms & Conditions
Facebook Twitter Instagram Pinterest VKontakte
Behind The ScreenBehind The Screen
  • Tech News
    1. Games
    2. Pc & Laptop
    3. Mobile Tech
    4. Ar & Vr
    5. Security
    6. View All

    Bring Elden Ring to the table with the upcoming board game adaptation

    September 19, 2022

    ONI: Road to be the Mightiest Oni reveals its opening movie

    September 19, 2022

    GTA 6 images and footage allegedly leak

    September 19, 2022

    Wild west adventure Card Cowboy turns cards into weird and silly stories

    September 18, 2022

    7 Reasons Why You Should Study PHP Programming Language

    October 19, 2022

    Logitech MX Master 3S and MX Keys Combo for Business Gen 2 Review

    October 9, 2022

    Lenovo ThinkPad X1 Carbon Gen10 Review

    September 18, 2022

    Lenovo IdeaPad 5i Chromebook, 16-inch+120Hz

    September 3, 2022

    It’s 2023 and Spotify Still Can’t Say When AirPlay 2 Support Will Arrive

    April 4, 2023

    YouTube adds very convenient iPhone homescreen widgets

    October 15, 2022

    Google finishes iOS 16 Lock Screen widgets rollout w/ Maps

    October 14, 2022

    Is Apple actually turning iMessage into AIM or is this sketchy redesign rumor for laughs?

    October 14, 2022

    MeetKai launches AI-powered metaverse, starting with a billboard in Times Square

    August 10, 2022

    The DeanBeat: RP1 simulates putting 4,000 people together in a single metaverse plaza

    August 10, 2022

    Improving the customer experience with virtual and augmented reality

    August 10, 2022

    Why the metaverse won’t fall to Clubhouse’s fate

    August 10, 2022

    How Apple privacy changes have forced social media marketing to evolve

    October 16, 2022

    Microsoft Patch Tuesday October Fixed 85 Vulnerabilities – Latest Hacking News

    October 16, 2022

    Decentralization and KYC compliance: Critical concepts in sovereign policy

    October 15, 2022

    What Thoma Bravo’s latest acquisition reveals about identity management

    October 14, 2022

    What is a Service Robot? The vision of an intelligent service application is possible.

    November 7, 2022

    Tom Brady just chucked another Microsoft Surface tablet

    September 18, 2022

    The best AIO coolers for your PC in 2022

    September 18, 2022

    YC’s Michael Seibel clarifies some misconceptions about the accelerator • DailyTech

    September 18, 2022
  • Startup
    • Fintech
  • Reviews
  • How To
Behind The ScreenBehind The Screen
Home»Startup»Chinese VCs Lived the Silicon Valley High Life. Now the Party’s Over | Startup
Startup

Chinese VCs Lived the Silicon Valley High Life. Now the Party’s Over | Startup

May 3, 2023No Comments4 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
Chinese VCs Lived the Silicon Valley High Life. Now the Party’s Over
| WIRED
Share
Facebook Twitter LinkedIn Pinterest Email

Academic ties had been growing stronger, with top-ranked US colleges,—including Harvard, the Massachusetts Institute of Technology (MIT), and Carnegie Mellon—hosting forums for Chinese investors. These were now put under new scrutiny. In January 2021, the FBI arrested MIT professor Gang Chen on allegations of federal grant fraud in January 2021. The charges were later dropped.

It was around this time that Michael decided to leave the US, returning to China to join a startup founded by a few friends. “At that time, China seemed to have more opportunities, while too many political issues were involved in doing business in the US,” he says.

Since then, President Joe Biden’s administration has continued to put pressure on China’s technology sector, imposing new export controls, investment restrictions, and tariffs. In October 2022, the US Department of Commerce released new rules prohibiting US companies from exporting technology used to produce advanced chips or supercomputers. The White House is close to reaching an agreement on limiting American investments in Chinese tech firms and prohibiting some deals in critical sectors, including microchips. Under pressure in China and the US, some Chinese tech companies, including the ride-hailing giant Didi, have delisted from American markets. Others, including the podcast platform Himalaya, have postponed their own plans to list in the US. American lawmakers are publicly discussing banning TikTok, the social media platform owned by Beijing-based ByteDance.

These crackdowns have attracted an angry response from some in China. Andy Mok, a research fellow at the Center for China and Globalization, a Beijing-based think tank, says Chinese investors still want to work with their American counterparts, but “this animosity from the US side creates barriers.”

See also  Lighthouse names CEO; Mariners hire Accolade director; and more – Startup

“I find it deeply disappointing that many Americans are poisoned by Western media about China,” Mok says.

Many Chinese investors have left the US; others are keeping a low profile. Before the Sino-American relationship started to unravel, Chinese-American academics had been a bridge between the two countries, and regular participants in exchange programs and incubators. “But since many scholars like Chen Gang were investigated by the FBI, they are now too afraid to have ties with Chinese investors and the Chinese government,” Liu says.

Liu’s company is shifting its focus to Europe, Israel, Japan, and South Korea.

USC’s Orlando says that he’s now very rarely approached by Chinese investors and that founders are wary of taking Chinese money. “People are thinking ahead and considering the potential risks. Just like I have startups that think about the risk of building a following on TikTok, founders are aware of potential risks of being reliant on Chinese investment.”

But despite the barriers, a trickle of money is still flowing from China into the US. American markets are picking up, and there are opportunities in unsanctioned sectors of the economy. And many wealthy Chinese people are looking less at the risks in the US and more at the risks at home.

Chin, the logistics entrepreneur, says she’s noticed a shift in focus among the Chinese investors in Silicon Valley. Their motivation isn’t what it used to be—they’re not talking about “going public” or “bringing American technology to China.” They’re talking about “transferring money out of China,” she says. “They are afraid that they might be cracked down on by the Chinese government sometime in the future.”

See also  'Skull' inventor and serial entrepreneur was 'the last word dreamer' – Startup

According to data from New World Wealth, a wealth intelligence firm, nearly 11,000 rich Chinese left China in 2022, the most since 2019.

Michael is once again thinking of emigrating back to the US. The startup he joined did well initially but went downhill during the pandemic. The strict “zero-Covid” policy and its attendant lockdowns were challenging for his personal life, while the government’s restrictions on tech, education, gaming, and cryptocurrencies means he’s worried about his ability to keep doing business. “There are too many uncertainties here in China,” he says.

Source link

Chinese high Life lived partys Silicon Startup Valley VCs
Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Multiple Milestones As New Majority Capital Boosts Entrepreneurship Through Acquisition

September 26, 2023

Getty Images Plunges Into the Generative AI Pool

September 26, 2023

3 Hot Startup Opportunities In Augmented Reality

September 26, 2023

The ChatGPT App Can Now Talk to You—and Look Into Your Life

September 25, 2023
Add A Comment

Comments are closed.

Editors Picks

Google and Apple vets raise $17M for Fixie, a large language model startup based in Seattle – Startup

April 3, 2023

iPhone 14 review: Not an upgrade year for most

September 20, 2022

RSA – Digital healthcare meets security, but does it really want to?

June 26, 2022

How To Leverage An Omnichannel Marketing Strategy To Reach Your Audience Wherever They Are

July 17, 2023

Subscribe to Updates

Get the latest news and Updates from Behind The Scene about Tech, Startup and more.

Top Post

Elementor #32036

The Redmi Note 13 is a bigger downgrade compared to the 5G model than you might think

Xiaomi Redmi Watch 4 is a budget smartwatch with a premium look and feel

Behind The Screen
Facebook Twitter Instagram Pinterest Vimeo YouTube
  • Contact
  • Privacy Policy
  • Terms & Conditions
© 2025 behindthescreen.uk - All rights reserved.

Type above and press Enter to search. Press Esc to cancel.