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Tencent to invest US$70B in new digital infrastructure
- sambroner 6y agoThis is obviously an enormous investment. However, I'm a little confused by the tone. Tencent's R&D budget is usually a couple of billion dollars. Their annual revenue is 10's of billions of dollars. $70Bil over 5 years doesn't seem crazy? This seems like they're going to keep spending a reasonable amount of money on improving their business through CapEx, R&D, and other normal expenditures. All that being said, I think more companies should focus on the tremendous improvements that can happen over years instead of months. A five year investment plan may allow them to achieve loftier goals. (I now move into controversial waters...) The CCP seems to be encouraging long term investment in a way that will probably be effective.
- mark_l_watson 6y agoI am a US citizen but I try to keep up with tech and economics also for China and the EU. I think all three regions are fragile, non-robust. I am reading The Infinite Game which convinced me that the global winner will be the region that makes its citizens feel safe and adequately supported to individually reach their potential. Lack of freedom in China and corrupt corporatism and federal government in the US almost makes me bet on the EU, but they have huge problems (Deutsch Bank, southern country's’ debt, etc.)