Tech A Step Back
Here's what you can plan on in the world's biggest planned economy: new industries blossoming, praised for job & wealth creation, then abruptly trimmed down by regulations.
Tech topiary is currently top of the Chinese gov.'s to-do list. Yesterday we mentioned ed-tech, and regulations to safeguard both parents and teachers.
There's also a new plan to crack down on one of the chief perks of living in China: free and speedy, tech-enabled delivery services. Seems there is a hidden cost to the magic of same-day, frequently same-hour, delivery, borne by an army of overworked, underpaid, utterly marginalized delivery people, millions strong.
"From a Marxist, or just populist standpoint, pledging to make things a bit more fair for these legions of exploited delivery workers is a welcome step," says Jimmie Jeremejev. "From a capitalist, investor-driven viewpoint, not so much. But as with ed-tech, we believe a more fairly treated work force will disrupt profits and valuations short-term, yet guarantee a more healthy, sustainable platform ecosystem long-term."