6 ms·
What does that mean?
by onethought 6y ago
What does that mean?
- skinnymuch 6y agoAssuming Tencent matched funding to keep their equity for Reddit’s most recent $6B valuation funding in 2021, Tencent owns 10% of Reddit. I don’t think that’s a big deal but /shrug
- jC6fhrfHRLM9b3 6y agoSure, not a big deal that the Chinese Communist Party has a huge chunk of power in one of the biggest information hubs for people in the USA and beyond. China knows they're at war, nobody else does.
- jedberg 6y agoYou do realize that single digit percent ownership doesn't give them any access or control, right?
- ajsnigrutin 6y agoWait what? Single digit ownership of a billion dollar company gives you a lot of access and control. Especially if it's something that the other 90% don't care about, but you do (eg. chinese politics).
- toyg 6y agoIf they do, they're not very good at exercising that control. There is plenty of heavy (and heavily upvoted) criticism of the CCP all over Reddit.
- onethought 6y agoNo. It doesn’t. Unless they got a board seat as well. I love the idea of a group of uniformed Chinese generals showing up at the annual shareholder meeting to demand Reddit do... wait what does the CCP want Reddit to do?
- tsbinz 6y agoSeemingly "small" investments were enough to strong-arm the NBA and Blizzard into punishing people speaking out for Hong Kong, so it appears it gives them enough.
- birdsbirdsbirds 6y agoWhat's the leverage? Naively I would assume that the worst would be that when such a small investor sells his shares then everybody else has an opportunity to make a cheap offer.
- onethought 6y agoIt has nothing to do with their investment. It was because nbas market share in China is huge. I think you are upset with the NBA here, they chose profits over geopolitics.
- skinnymuch 6y agoWhat investment is being referred to here for the NBA? The NBA including individual players all defended China. Money being the reason.
- zirkonit 6y agoI'm sorry, but I believe this kind of fearmongering and hidden xenophobia is not welcome on Hacker News.
- eqetnjxad 6y agoThey are not talking about Chinese people. They are talking about the Chinese government which engages in slave labor and forced organ harvesting.
- zirkonit 6y agoChinese Communist Party has over 90 million people. Would you be okay if I had dismissed some company outright because it is a "Lutheran asset", "Turkish asset" or "White American asset"?
- eqetnjxad 6y ago90 million people is around 6% of the Chinese population. In Nazi Germany approximately 13% of the population were members of the party.
- onethought 6y agoYou think there is a moral equivalence to the CCP and Nazis? This is China you are talking about... the country that has shown no military aggression outside its borders.
- eqetnjxad 6y agoHave people already forgotten about Tibet? They also did invade Vietnam.
- onethought 6y agoTibet was within Chinese borders... remember it was called “the Tibetan independence movement”? Invasion of Vietnam was in response to Vietnamese aggression. But you are correct it was outside their (disputed) borders. Looking forward to the part you convince me that event was morally equivalent to the nazis.
- onethought 6y agoThat’s right because China, CCP, Xi, and Tencent are all the same thing. How often do the Tencent board and CCP meet? Monthly? Or like a weekly catchup do you think?
- jC6fhrfHRLM9b3 6y agoVery regularly I'm sure. They will do exactly as they are told.