IPO

Reflections on the Delisting Saga

In the last three years, the threat of forced delisting for Chinese companies publicly traded in the US was constant. Billions of market cap evaporated while the investment world waited to see if the Public Company Accounting Oversight Board (or PCAOB or the auditor

Topics: Hong Kong• IPO•

Is Hong Kong’s IPO Window Opening Up?

The IPO market has been frozen not just on Wall Street, but around the world, especially for new, emerging companies. So much so that the only IPO that has been grabbing attention is Volkswagen’s spin-out IPO of Porsche [https://www.marketwatch.com/story/

Topics: Didi• IPO•

Take Didi Private

If Disney builds a new rollercoaster using Didi’s stock chart from the last four weeks, it will surely be one of its most head-spinning, vomit-inducing rides yet. With so much volatility around all Chinese stocks, but Didi’s in particular, it is impossible

Topics: China• Stock Market• Charlie Munger•

Dissecting the "Great Delisting"

Last December, I wrote a rather provocative post called “Let the ‘Great Delisting’ Begin [https://interconnected.blog/let-the-great-delisting-begin/]”. That was when the SEC released its final specifications [https://www.sec.gov/news/press-release/2021-250] to implement the accounting compliance requirements outlined in the Holding

Topics: WeWork• Remote Work• IPO•

A WeWork Future: Perpetual Hybrid Work

I published my very first post [https://interconnected.blog/coronavirus-remote-work-remote-consumption/]on Interconnected in late February 2020. Back then, the coronavirus in China was in full swing, but the rest of the world has yet to grasp the gravity of this pandemic. In that post,

Topics: IPO• China• Regulation•

Let the “Great Delisting” Begin

Last week, the SEC dropped the final “regulatory shoe” by specifying the rules and procedures [https://www.sec.gov/news/press-release/2021-250] that will implement the accounting compliance requirements outlined in the Holding Foreign Companies Accountable Act (HFCAA) on foreign companies listed on US

Topics: Regulation• Huawei• IPO•

Chinese Government Turf Battle: Tomorrow's News; 明日要闻 (July 2021)

Hello Interconnected Readers: Today, I’m reconceptualizing a section of Interconnected. It used to be a weekly news summary [https://interconnected.blog/tag/weekly/] of six stories from both English language and Chinese language sources. Now, it’s a new monthly product called, "

Topics: Southeast Asia• SPAC• IPO•

SPAC-ing the Southeast Asia Story

The market frenzy around SPACs may have subsided somewhat, their effects on tech companies are far from over. In fact, their focus has simply shifted away from the US to other regions. Where? Apparently, Southeast Asia [https://mailchi.mp/techinasia/damn-thats-a-lot-of-funding-181938?e=f956d7e77a]. I’

Topics: 5G• Open Source• Antitrust•

April 11, 2021: OpenRAN, Google vs Oracle, Mexican Unicorn, Alibaba Antitrust Fine

Hello Interconnected Readers: This weekly issue has a little bit of everything: possible US investment into OpenRAN, the monumental Google vs Oracle Supreme Court decision, Kavak the Mexican Unicorn getting bigger, Alibaba’s antitrust fine, Chinese engineers fleeing tech to work in civil service,

Topics: Xiaomi• Huawei• EVs•

March 28, 2021: Global Startups; Xiaomi > Huawei; Next Phase of China’s EVs Market; No-Code

Hello Interconnected Readers: This weekly issue has a nice balance of news commentary from the rise of international startups as evidenced by the most recent YC batch, to Xiaomi racing ahead of Huawei, to the next phase of China’s EVs market, to the

Topics: Semiconductor• Open Source• IPO•

March 14, 2021: State of the Cloud; More Semiconductor Investment; Open Source in China

Hello Interconnected Readers: This Interconnected Weekly issue covers more news on China’s semiconductor industry as it continues to balloon. I also shared some thoughts on Bessemer Ventures’ 2021 State of the Cloud report, the Apache Software Foundation, and yet another Chinese tech company

Topics: Huawei• IPO• Venture Capital•

Is Huawei a Top-Tier VC?

Huawei started a little-known corporate VC division in 2019 called Habo Investment. Since then, it has made 22 investments and five of them have either IPO’ed or are in the process of doing so on the Shanghai STAR market. Although these IPO’s

Topics: Xiaomi• IPO• Pinduoduo•

January 17, 2021: Surfing Pig, Xiaomi, Podcast Subscription, Pinduoduo

Hello Interconnected Readers: Lei Jun, the founder and CEO of Xiaomi, has one of the most viral pieces of startup advice: “if you stand where the wind blows, even a pig can fly. [https://36kr.com/p/1722924990465]” I have never quite appreciated both

Topics: IPO• Regulation•

Lame Duck Delisting

Sneaking in big announcements on the eve of major holidays seems to be en vogue with regulators these days. China’s State Administration for Market Regulations announced its antitrust investigation into Alibaba on Christmas Eve, so I spent Christmas Day writing “ Alibaba and Antitrust

Topics: Meta• IPO• Blockchain•

November 22, 2020: Birthday or Birthplace

Hello Interconnected Readers: Next week is both Thanksgiving week in the US and my birthday week. (Programming note: I will not publish my usual Thursday deep dive analysis due to the holiday.) [If you’d like to skip ahead to the six news stories

Topics: Alibaba• Jack Ma• Regulation•

Jack Ma, P2P Lending, Responsibility, Legacy

When I was in my 20s, I dreamed of becoming a presidential speech writer. I’d stay up reading books, like Ted Sorensen’s memoir “Counselor [https://www.amazon.com/COUNSELOR-Life-at-Edge-History/dp/0060798718/ref=sr_1_1?crid=3D8HHRP3NCZ3O&dchild=1&keywords=

Topics: Jack Ma• Alibaba• IPO•

Jack Ma's Bund Finance Summit Speech

Below is my unofficial translation of Jack Ma’s speech on October 24 at the Bund Finance Summit in Shanghai based on a Chinese transcript [https://sfl.global/news_post/mayunshanghaiwaitanjinrongluntanyanjiangquanwenwushanjian/] , with minor edits for clarity and speechification. To read some of my deep

Topics: Twitter• Apple• IPO•

November 1, 2020: Trump Supporter and His Grandmother

Hello Interconnected Readers: I’ve been spending the last week in Reno, Nevada, doing volunteer work for the US election during this final phase. (Nevada is the swing state closest to me.) Thinking back, I’ve spent every single Election Day, both presidential and

Topics: IPO•

Wall Street Blunts the “Delisting” Hype

The “delisting” narrative of Chinese companies from the US has largely not materialized. Instead, just about every other week there’s news of a new Chinese company about to IPO in New York. The next one, Lufax, may even end up being the largest

Topics: Cloud Industry• Data Center• Facebook•

October 25, 2020: Be Good at Destroying Your Best Ideas

Hello Interconnected Readers: I’m trying something new starting this week. In addition to the six stories summary that you’ve been getting, I will open this weekly issue with a more raw, personal, and reflective letter to you about something I thought about

Topics: Apple• Facebook• Huawei•

October 18, 2020: Censorship, Apple in India, Huawei Selling Honor, Lithography, Chinese IPO

This issue covers the period between October 12 - 18, 2020 with six news stories – three from English language sources, three from Chinese language sources. Disclaimer: all translated article titles are done by me, not official translations from the media outlets. Before you go

Topics: Open Source• TSMC• ByteDance•

August 30, 2020: Open Source, Zhang Yiming, TSMC, Loongson, XPeng, MediaTek

This issue covers the period between August 24 - 30, 2020 with six news stories – three from English language sources, three from Chinese language sources. Disclaimer: all translated article titles are done by me, not official translations from the media outlets. Before you go

Topics: TSMC• ByteDance• Apple•

August 16, 2020: TSMC, CFIUS, iQiyi Fraud, ByteDance Ambitions, Apple, Beke

This issue covers the period between August 9 - August 16, 2020 with six news stories – three from English language sources, three from Chinese language sources. Disclaimer: all translated article titles are done by me, not official translations from the media outlets. -------------------------------------------------------------------------------- “China

Topics: Antitrust• Open Source• 5G•

August 2, 2020: Antitrust in China, Open Source 5G, Electric Vehicles IPO, ByteDance, Huawei

This issue covers the period between July 27 - August 2, 2020 with six news stories – three from English language sources, three from Chinese language sources. I purposely did not include anything related to the antitrust hearing (too many out there) and TikTok’s

A collection of 27 posts