Comment by Workaccount2
3 hours ago
VC's gauge what the market wants, the Chinese government is one person who decides what he wants.
One of these is grossly inefficient compared to the other, despite the final outcome looking similar from some angles.
"Capitalism good, but state capitalism bad".
Not only are US VCs dumping billions in shitty Bluetooth connected dog collars and other kinds of crap, apparently according to you because that's "what the market wants", it's also an incredibly stupid reading of how the Chinese government works.
They target specific industries that are important, according to them, like solar panels, batteries, cars, etc. They then dump billions into a bunch of companies, and see which ones come out alive and on top.
As it stands, it's been pretty accurate for many things, and has made them market leaders on many, many things. But sure, jerk off the VC model, after all YC thinks the market wants... AIs and ERPs. Woo.