Tech a Step Back
Suspended IPOs. $800b, wiped off investors' balance sheets. Could things get any worse for those of us who want nothing more than to lock in runaway profits as Chinese unicorns rocket in valuation?
There's de-listing, to answer a rhetorical question. Add to that increased threats to the cybersecurity of people and companies who entrust Chinese tech giants' platforms with sensitive data. And even American tech monopolies are officially a cause for concern, albeit all we've managed so far are still-unpaid, slap-on-the-wrist fines to concerns like Google, who pay almost nothing in taxes to begin with.
"The Chinese government is dealing with the issues of data security and tech monopolies in its own inimitable style - peremptorily and with little impetus to explain itself," says Edward Lehman. "Having said that, imminent regulations will settle the dust, and provide a framework that may be restrictive, but in the interests of a fairer playing field. In the meantime, there are many Chinese unicorns waiting to IPO that are not data dependent, and by no means blocked from listing on NASDAQ."