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Bloomberg did a nice video about the real implications; Chinese app style payments would deprive banks of their cut of transaction processing.[1] Isn't it stra

by gemjam 7y ago

Bloomberg did a nice video about the real implications; Chinese app style payments would deprive banks of their cut of transaction processing.[1] Isn't it strange that the Chinese copied facebook, but now facebook copys WeChat "U.S. Banks Are Terrified of Chinese Payment Apps" https://www.youtube.com/watch?v=SJh_Uir5EMI https://www.youtube.com/watch?v=SJh_Uir5EMI https://www.nytimes.com/2019/03/07/technology/facebook-zuckerberg-wechat.html https://www.nytimes.com/2019/03/07/technology/facebook-zucke...

dngray 7y ago
> Isn't it strange that the Chinese copied facebook, but now facebook copys WeChat Not really, Facebook is lacking in originality and sees how much money can be made (Wechat is doing it). They also see how they can harvest huge amounts of data on what people buy with a high degree of preciseness.
duxup 7y ago
Every company of a certain size eventually starts picking up other companies / ideas. Heck plenty of start ups pivot to existing ideas. And in Japan pay with your phone has been around for ages.
thablackbull 7y ago
> Isn't it strange that the Chinese copied facebook, but now facebook copys WeChat You've clearly never used WeChat if you're under the impression they copied Facebook. This "___ of the West" is just a simplified trope to help readers make a comparison. Western companies/apps fail in the East and Eastern apps often fail in the West as the market is completely different that you can't just port something over and hope to replicate its success. https://hbr.org/2018/08/why-western-digital-firms-have-failed-in-china https://hbr.org/2018/08/why-western-digital-firms-have-faile...
buboard 7y ago
facebook copied chinese / korean / japanese social media in many ways over the years. And their games ecosystem (zynga era) were mostly copies of chinese games.
Barrin92 7y ago
Facebook has been called 'the most Chinese' of the American software giants for a reason, the 'move fast and break things' attitude and the attitude towards privacy and capturing people's personal lives has been well documented for a long time.

by gemjam 7y ago

dngray 7y ago

> Isn't it strange that the Chinese copied facebook, but now facebook copys WeChat Not really, Facebook is lacking in originality and sees how much money can be made (Wechat is doing it). They also see how they can harvest huge amounts of data on what people buy with a high degree of preciseness.

duxup 7y ago

Every company of a certain size eventually starts picking up other companies / ideas. Heck plenty of start ups pivot to existing ideas. And in Japan pay with your phone has been around for ages.

thablackbull 7y ago

> Isn't it strange that the Chinese copied facebook, but now facebook copys WeChat You've clearly never used WeChat if you're under the impression they copied Facebook. This "___ of the West" is just a simplified trope to help readers make a comparison. Western companies/apps fail in the East and Eastern apps often fail in the West as the market is completely different that you can't just port something over and hope to replicate its success. https://hbr.org/2018/08/why-western-digital-firms-have-failed-in-china https://hbr.org/2018/08/why-western-digital-firms-have-faile...

buboard 7y ago

facebook copied chinese / korean / japanese social media in many ways over the years. And their games ecosystem (zynga era) were mostly copies of chinese games.

Barrin92 7y ago

Facebook has been called 'the most Chinese' of the American software giants for a reason, the 'move fast and break things' attitude and the attitude towards privacy and capturing people's personal lives has been well documented for a long time.