Archive

04, May - ($) Q1 2025: Trust the Process, Trust the Temperament
01, May - Benchmark Invests in Manus: VC Math vs Geopolitics Math
22, Apr - ($) Huawei's Global AI Ambition: The Core Depends on The Soul
15, Apr - NVIDIA: Made in America (by Taiwan)
06, Apr - ($) This Time is NOT like Covid
25, Mar - CoreWeave vs Nebius
21, Mar - An Ordinary Analogy to Understand Pre-Training, Test-Time Compute, Inference
11, Mar - ($) Manus vs Gemini vs GPT: the Junior Stock Analyst
04, Mar - Has American Soft Power Peaked?
25, Feb - ($) Alibaba Cloud: No Longer Ignored
17, Feb - Nebius Part 2: Cash, Optionalities, Challenges
17, Feb - Nebius Part 1: the Smooth (Developer) Operator
07, Feb - ($) DeepSeek Diffusion
02, Feb - 2024 Annual Letter: Generational Company, Generational Wealth
22, Jan - ($) Stargate is America’s Sovereign AI
12, Jan - Was Zuck Right about Chinese AI Models?
03, Jan - ($) DeepSeek's Three Idiosyncratic Advantages
22, Dec - ($) 2025: Year of (Software) Picks and Shovels
17, Dec - ($) Why is China Investigating Nvidia: Blackwell
11, Dec - Self Re-Introduction – 2024 Edition
05, Dec - Robin Zeng: CATL’s Prodigious Gambler
18, Nov - What Does Hitting Scaling Law Limit Mean for US-China AI Competition
12, Nov - See the World Accurately
02, Nov - Q3 2024: Clock Starts Anew
23, Oct - Time to Let Ant IPO!
14, Oct - ($) The US-China AI Gap Widens in 2026
09, Oct - TikTok and Semiconductors -- Contributions for the Asia Society
02, Oct - Is China Investable Now?
18, Sep - GitLab, GitHub, the AI Model Divide
12, Sep - ($) Apple vs Huawei: Boomer vs Startup
05, Sep - NVIDIA's Antitrust Probe is a "Pick One from Two" Problem
30, Aug - Nashville and the 45 Second Commute
25, Aug - ($) Alibaba (Finally) Gets Its Retail Fanbase
16, Aug - 3x3 AI Video Matchup: US vs China
09, Aug - When Volatility is High, Berkshire Calms Me Down
01, Aug - H1 2024 Performance Letter: Arrogant Humility
24, Jul - ($) Llama 3.1 and Its Geopolitical Implications
22, Jul - WSJ, Odd Lots Podcast, Third Plenum on GenAI
15, Jul - Swing Vote of Global AI Competition: the Middle East
03, Jul - ($) OpenAI Bans China
28, Jun - When Two “Presidents” Debate
21, Jun - ($) Software is Why Nvidia Will Not Become Cisco
14, Jun - Software Is Not Dead
30, May - ($) China Cloud Price War
23, May - Huawei Cloud and “AI in the Box”
09, May - ($) Greg Abel Will Power AI
01, May - Q1 2024: Inner Scorecard
24, Apr - ($) TSMC: Where and How Will It Raise Prices
12, Apr - Is Tesla China’s “Catfish”?
17, Mar - ($) Do We Need Sovereign AI?
13, Mar - When the Houthis Found “the Cloud"
08, Mar - ($) Tracking Global AI Talent Flow
27, Feb - Japan's Semiconductor Red Carpet
14, Feb - ($) China’s Provincial GDPs: Pessimism or Sandbagging
08, Feb - Wang Chuanfu: A Name Everyone in the West Should Know
04, Feb - ($) 10-K's and Geopolitics: AMD, Intel, Meta Edition
28, Jan - U.S. Export Control is Hurting Nvidia and Helping Huawei
25, Jan - ($) AI May Have A Gross Margin and Bullshit Revenue Problem
19, Jan - TSMC Hedges Against a CHIPS Act Fail
12, Jan - ($) Less is More: 2023 Annual Letter
03, Jan - 🤷Does China Want Generative AI?
19, Dec - 😍 My 6 Favorite Posts of 2023
13, Dec - ($) Top 5 US-China Tech Stories of 2023
10, Dec - 🍁November Review: Micro Plus Macro and the Roblox Story
05, Dec - ($) AI Spending Against the Price of Time
01, Dec - Nvidia’s China Business is Important to US Geopolitical Positioning
28, Nov - ($) re:Inventing AWS: Keynote Digs and Narratives
17, Nov - Alibaba's Reorg Hot Mess
15, Nov - ($) The Age of Not Obvious: China in September 2023
12, Nov - China May Stay Permanently Behind the US in Generative AI
05, Nov - ($) AI Executive Order: Likes and Dislikes
29, Oct - How to Understand Google's Gemini Delay
22, Oct - 📣Announcing Interconnected 2.0
20, Oct - ($) Second Order Effects of the Expanded US AI Chips Ban
18, Oct - ($) Q3 2023 Letter: Sideways Market Continues with More War
13, Oct - 🏛️Washington is Using China to Destroy Open Source
05, Oct - 💸Q3 2023 Performance Update
02, Oct - 🔋Is Ford’s Pause on CATL Plant Really About China?
27, Sep - 🏦AI Is Turning Clouds Into Banks
04, Sep - 🇺🇲Are Labor Unions Raining on America's Parade?
30, Aug - 5️⃣ China's Future Through the Wubi Lens
14, Aug - 🔊Capital Allocators China - Generative AI Panel
10, Aug - 🟡 Generative AI Heading For (Short Term) Disappointment
03, Aug - ☁️Llama 2 is China Cloud's Best Friend
29, Jul - 🤑H1/Q2 2023 Performance Update (and A Poll)
26, Jul - 🤖EU, China, US: Three Different Attitudes Toward AI Regulation
14, Jul - Good Chinese Language Tech Podcasts
10, Jul - 🏴‍☠️Traitors or Treasures: the Semiconductor Talent Conundrum
03, Jul - US vs China: A Cloud Proxy War
22, Jun - Meta Wants to Make AI “Moatless"
12, Jun - China's Underestimated AI Convening Power
07, Jun - Re-Introduction
29, May - Jensen Huang NTU Commencement Speech 2023
24, May - Is the Next Alibaba...AliCloud?
11, May - AI Will Create More Developers, Not Less
03, May - “Hardtech” Corporate VCs Rising in China
27, Apr - Q1 2023: Performance Update
04, Apr - RESTRICT First, Ban Later
29, Mar - Alibaba Reorg
23, Mar - RESTRICT China
15, Mar - Is JD Cloud the New “National Champion”?
08, Mar - Is Meta Becoming a Trustworthy AI Company?
28, Feb - Ford Hearts CATL: America's Awkward Battery Deficiency
23, Feb - Are Americans Worried About Chinese Apps?
06, Feb - Will ChatGPT Make Baidu Relevant Again?
25, Jan - Reflections on the Delisting Saga
16, Jan - How Much Does Deglobalization Cost?
09, Jan - Interconnected Annual Letter 2022
12, Dec - Globalization is Dead and No One is Listening
06, Dec - ChatGPT and the Future of Domain Expertise
28, Nov - Covid Zero and Its Ironies
22, Nov - Are the Next 50 Million Developers Already Here?
01, Nov - Elon's Twitter and Open Source Algorithm
25, Oct - Kakao, Data Center Fire, the Data Residency Dilemma
18, Oct - CALB vs CATL: Can Two Battery Pigs Both Fly?
11, Oct - Is Hong Kong’s IPO Window Opening Up?
04, Oct - Alibaba: Is It a “Mature” Company?
27, Sep - Prosus: Softbank Without the Drama
20, Sep - US vs China: How Can America Win?
12, Sep - How to Invest in China's Cloud
28, Aug - How is China’s Cloud Industry Doing?
21, Aug - So Which Algorithms Do the Chinese Regulators Have?
14, Aug - Understanding Masa Son’s Rationality
07, Aug - Why China’s Road to Self-Driving Goes Through Inner Mongolia
31, Jul - Not Intel, but South Korea, is where CHIPS Money Should Go
24, Jul - Didi's $1.2 Billion Penalty and the Global 5% Upper Bound
18, Jul - Where Data Centers and Abortion Rights Intersect
03, Jul - What is Exceptional about "American Exceptionalism"
26, Jun - Solutions to TikTok's American Credibility Problem
19, Jun - TikTok's American Credibility Problem
12, Jun - Ant IPO and China's "Startup Debt" Problem
06, Jun - American Tech Leaves China, But What Will Stay?
15, May - US and Southeast Asia: A Dysfunctional Romance
08, May - When Morris Chang Speaks, America Should Listen
02, May - How Does TikTok Do Global Expansion
24, Apr - Polygon: Web3's MongoDB and More
17, Apr - Why Open Sourcing Twitter is Good for Humanity and Business
10, Apr - Facebook vs TikTok: Will Every Tech Company Become a Political Campaign?
27, Mar - Take Didi Private
13, Mar - Dissecting the "Great Delisting"
07, Mar - Central Bank Digital Currency: Should You Want It Too?
28, Feb - Fog of War
14, Feb - Romance of the Three Kingdoms: Semiconductor Edition
07, Feb - e-CNY: The Product
31, Jan - Beijing Winter Olympics: What Am I Watching?
24, Jan - Low Code No Code, Part III: Hands-on Experience with Notion, Retool, Bubble, Yida
17, Jan - A WeWork Future: Perpetual Hybrid Work
10, Jan - Charlie Munger’s New Favorite: Alibaba
02, Jan - 2022 Outlook: Rise of the "Rest"
20, Dec - 2021 Interconnected Wrap-Up: Readership Stats and Breakdown
13, Dec - Open Source in China: Next Four Years
05, Dec - Let the “Great Delisting” Begin
28, Nov - Top 3 Takeaways from Octoverse 2021
14, Nov - Removing China’s “Startup Debt”
07, Nov - e-CNY: Strategic Value and Implications
17, Oct - Why LinkedIn (Mostly) Left China?
10, Oct - e-CNY: Technology
03, Oct - e-CNY: The Players
26, Sep - Ideology, Demographics, Decoupling: Tomorrow’s News; 明日要闻 (September 2021)
19, Sep - HashiCorp: Past, Present, Future
12, Sep - Morris Chang's Last Speech
05, Sep - Zhang Yiming’s Last Speech
29, Aug - Data, 5G and Office Romance: Tomorrow’s News; 明日要闻 (August 2021)
08, Aug - What Does Databricks Do?
01, Aug - Revisiting Agora ($API)
25, Jul - Chinese Government Turf Battle: Tomorrow's News; 明日要闻 (July 2021)
18, Jul - SPAC-ing the Southeast Asia Story
11, Jul - Is “ByteDance Cloud” A Good Idea?
04, Jul - So What Is The American Dream?
27, Jun - Surfing the Wave of Developer Relations: Part 2
20, Jun - Low Code No Code, Part II: How to Ride This Wave
13, Jun - Can the US “Out China” China?
06, Jun - Surfing the Wave of Developer Relations: Part I
30, May - Low Code No Code, Part I: Use Cases and Landscape
23, May - The New Interconnected; Zhang Yiming's Resignation
16, May - May 16, 2021: AliCloud, JEDI, HarmonyOS, Hillhouse Capital, Tencent Cloud
09, May - Morris Chang, Global Semiconductor Competition, Make “Making Stuff” Cool
02, May - Distributed Engineering Management Best Practices with Justin Cormack
18, Apr - Two Week Break; No New Post
15, Apr - Engineering Talent Distribution: Mexico and LATAM
11, Apr - April 11, 2021: OpenRAN, Google vs Oracle, Mexican Unicorn, Alibaba Antitrust Fine
08, Apr - Tech in Mexico: A Confluence of Latin America, the US and Asia
04, Apr - Announcing: Interconnected Voices
03, Apr - Discussion Transcript: Global Developer Growth
03, Apr - Discussion Transcript: What Does Agora ($API) Do?
01, Apr - Elon’s "Place" in US-China Relations
28, Mar - March 28, 2021: Global Startups; Xiaomi > Huawei; Next Phase of China’s EVs Market; No-Code
25, Mar - Building A Global Company from Day 0 with Clint Smith
21, Mar - March 21, 2021: Lived Experience Quotient
18, Mar - Developing Commercial Product from Open Source Technology
14, Mar - March 14, 2021: State of the Cloud; More Semiconductor Investment; Open Source in China
11, Mar - Semiconductor Design Consolidation: MIPS -> RISC-V
07, Mar - March 7, 2021: No American likes China; More semiconductor thoughts
04, Mar - China's “Semiconductor Theranos”: HSMC
28, Feb - Announcing Interconnected Japanese (Alpha)
25, Feb - USG Embraces Open Source 5G
21, Feb - February 21, 2021: Didi in Mexico Part II; ByteDance’s Censorship Machine
18, Feb - Early Stage Sales with Matt Ekstrom
14, Feb - February 14, 2021: Didi in Mexico vs Rappi and Uber Eats
11, Feb - Where Will the Next 50 Million Developers Come From?
03, Feb - No New Deep-Dive Due to Sickness; AWS Archive
31, Jan - January 31, 2021: r/wallstreetbets, Open Source 5G, Agora Acquisition
28, Jan - What Does Agora ($API) Do?
24, Jan - January 24, 2021: AliPay & WeChat Pay Breaking Up? AWS forks Elasticsearch
21, Jan - Is Huawei a Top-Tier VC?
17, Jan - January 17, 2021: Surfing Pig, Xiaomi, Podcast Subscription, Pinduoduo
14, Jan - Google, Alibaba, Global Antitrust Standard
10, Jan - January 10, 2021: Mexico City, More Chinese Tech Ban, Intel Woes
07, Jan - Lame Duck Delisting
03, Jan - Top 10 Posts of 2020; Five Themes for 2021
27, Dec - Alibaba and Antitrust with Chinese Characteristics
20, Dec - December 20, 2020: Rituals
17, Dec - Open Source, Open Stats, Open Development
13, Dec - Global by Nature (Part IV): Public Companies to Watch
10, Dec - Global by Nature (Part III): Open Source
06, Dec - Global by Nature (Part II): APIs
03, Dec - Global by Nature (Part I): Developers
29, Nov - November 29, 2020: P(Good for the World)
22, Nov - November 22, 2020: Birthday or Birthplace
19, Nov - Building a Bilingual Newsletter: 2020 Edition
15, Nov - November 15, 2020: 16 Days
11, Nov - Jack Ma, P2P Lending, Responsibility, Legacy
09, Nov - Jack Ma's Bund Finance Summit Speech
08, Nov - November 8, 2020: Due Process and Procedural Justice
05, Nov - Some Bearish Thoughts on RISC-V
01, Nov - November 1, 2020: Trump Supporter and His Grandmother
29, Oct - Wall Street Blunts the “Delisting” Hype
25, Oct - October 25, 2020: Be Good at Destroying Your Best Ideas
22, Oct - iPhone: “Made in China -> India?”
18, Oct - October 18, 2020: Censorship, Apple in India, Huawei Selling Honor, Lithography, Chinese IPO
15, Oct - China's Cloud Ceiling
11, Oct - October 11, 2020: Remote Work, AMD-Xilinx, Developer Experience, BiliBili, Tuber Browser, China’s Snowflake
08, Oct - When "Jurassic Park" Goes to China
01, Oct - [Enhanced] The Future of American Industry Depends on Open Source Tech
27, Sep - September 27, 2020: Facebook, OpenAI & Microsoft, Germany, Apple, Huawei
24, Sep - 300 Years: Huawei's Open Source Strategy
20, Sep - September 20, 2020: Unreliable Entity List, RISC-V, TSMC, Tesla in China
17, Sep - Era of Regulatory Grift: TikTok-Oracle, NXP-Qualcomm, Arm-Nvidia
06, Sep - September 6, 2020: China’s Semiconductor Woes and Investments, India’s New Apps Ban
03, Sep - What is TikTok Worth to Whom and Why?
30, Aug - August 30, 2020: Open Source, Zhang Yiming, TSMC, Loongson, XPeng, MediaTek
27, Aug - Can You "Nationalize" Open Source?
23, Aug - August 23, 2020: Crypto, TikTok, JEDI, Zoom, Pinduoduo, Gitee
20, Aug - Where Can the Chinese Internet Go?
16, Aug - August 16, 2020: TSMC, CFIUS, iQiyi Fraud, ByteDance Ambitions, Apple, Beke
13, Aug - GPT-3: An Abstraction of Time vs Money
09, Aug - August 9, 2020: Election Interference, Clean Network, TikTok and London, Zoom, Shandong, Huawei Chips
06, Aug - A Framework to (Dis)trust and Verify TikTok
02, Aug - August 2, 2020: Antitrust in China, Open Source 5G, Electric Vehicles IPO, ByteDance, Huawei
30, Jul - COVID, Open Source, Industrial Policy
26, Jul - July 26, 2020: Mars, Ant Group, New York Times, COVID-19, Open Source, ARM
23, Jul - Unicorns Entanglement: India, China, America
19, Jul - July 19, 2020: TikTok Data, Huawei in UK, Google in India, SMIC IPO, Softbank ARM, Luckin Coffee
16, Jul - Tesla, China, the “Tech Cold-War”
12, Jul - July 12, 2020: TikTok, More TikTok, Canada, Elon Musk, Open Source, Blued
09, Jul - Southeast Asia and the Pacific Light Cable Network
05, Jul - July 5, 2020: Lasso, Antitrust, Linux, India, New Infrastructure, IPO
02, Jul - RISC-V, China, Nightingales
28, Jun - June 28, 2020: Semiconductor, Xiaomi, Facial Recognition, GPS, EDA Equipment, Agora
25, Jun - China-Scale Technology Sandbox
21, Jun - June 21, 2020: Satellite, Antitrust, Zynn, Huawei, Samsung, Matlab
18, Jun - Can ByteDance Build Trust?
14, Jun - June 14, 2020: ByteDance, Zoom, Semiconductor, AliExpress, Matlab, IPO
11, Jun - Zoom vs Slack: Wall Street’s Misguided Comparison
07, Jun - June 7, 2020: India, Semiconductor, Zoom, JD.com, 5G, Kuaishou
04, Jun - Algorithm is the Problem, Not Mark Zuckerberg
31, May - Why Write A Bilingual English-Chinese Newsletter
28, May - Why Huawei Should IPO in America
24, May - How To Tax Cloud Computing?
21, May - Chips, Geopolitics, Elections
17, May - AWS vs Azure: Return of the JEDI?
14, May - Open Source in China: The Trends
10, May - Open Source in China: The Game
07, May - Open Source in China: The Players
03, May - Is the Cloud Recession-Proof?
30, Apr - Why Zoom Chose Oracle
26, Apr - AWS and GCP Are the Real Winners in Snapchat’s Growth
23, Apr - Alibaba vs IBM: Fighting for Third Place in Cloud
19, Apr - Do Chinese Consumers Hold the Key to Global Economic Recovery?
16, Apr - Earnings Guidance Is Going Stale. Was It Ever Useful?
12, Apr - In Defense of Zoom: China FUD, Performance Tradeoff, Open Source
09, Apr - Should Dropbox Enter the Cloud Business? (Part 2)
05, Apr - Should Dropbox Enter the Cloud Business? (Part 1)
02, Apr - Azure Cracks, AWS Strong: COVID-19 Stress Tests the Cloud
29, Mar - Why We Should Regulate Ridesharing Like Buses and Restaurants
26, Mar - When Ridesharing Replaces Public Transportation
22, Mar - Why Is Facebook Not in the Cloud Business?
19, Mar - End of the Traveling Salesman?
15, Mar - Stress Test the (Other) Cloud: IBM, Oracle, Tencent
12, Mar - Is Leaving the China Supply Chain a Pipe Dream?
08, Mar - Stress Test the Cloud: Alibaba Cloud, AWS, Azure, GCP
05, Mar - Where Are The Data Centers: AWS, Alibaba Cloud, Azure, GCP
01, Mar - Alibaba Cloud: The Ignored Cloud
27, Feb - [Deep Dive] Coronavirus, Remote Work, Remote Consumption
23, Feb - Coronavirus, Remote Work, Remote Consumption