3 ms·

> China just destroyed hundreds of thousands of tech jobs due to ideology What did they do?

• jpgvm 3y ago
  Probably referring to the tech "crackdown" that was undertaken from about 2021 through to now. Though "crackdown" really is overly strongly worded. Really what they did was catch China's anti-trust and data protection laws up to approximately EU levels. This of course caused investors to panic like crazy because "uncertainty" even though everything was incredibly certain. The one people should have been worried about was the complete obliteration of the after-school industry. This was telegraphed for a whole year before it happened and investors sat on their hands the whole time and then got wiped out. Only -then- did they decide that "woe is me, I didn't pay any attention to all to changing legal landscape of what CCP considers to be entirely their domain". TLDR: Investors are uninformed, dumb and a poor judge of future success in most cases.