Daily Summary | David and Goliath
Salvation. Brady here.
By now, you’ve seen numerous reports of tech repression in China, each exposing the transgressions of conglomerates that have grown so big, so quickly, often with few checks and balances.
Some move people through cities making trips more readily available. Others provide financial services. Still others sell all sorts of things imaginable. Each has a function that enough consumers use every day, but regulators have doubts about data security, data privacy, and the control these tech companies have over the daily activities of the wider population.
From an even broader perspective, consumer-focused technology services are far from innovative – if new artificial intelligence algorithms are designed to show you the next blouse you should buy instead of, say, tucking proteins, what life-changing transformations are never developed because of the way talent is directed?
The Chinese government is seeking to remedy this problem by endorsing “little giants”, which are smaller tech companies that operate in deep tech – semiconductor manufacturing, robotics, blockchain, biomedicine, etc. But this support is more a signal than a directive. After all, the skilled professionals needed to fill the ranks of the little giants have yet to be cultivated.
Mengyuan unpacked the situation. You can read his article here.
The death of a 28-year-old ByteDance employee fuels the ongoing controversy over overwork at Chinese tech companies.
Electric vehicle maker Nio is getting into the smartphone business.
Carevo uses blockchain technology to optimize the retrieval of medical records in Indonesia.