China, United States, Gt China China Mobile China Unicom discussed on Digital Business Models
Was something something you did on your. Pc not necessarily on Amazon on your smartphone so we didn't really see the super emerge in the US at all. Although the facebook is trying it right now we saw it in China and then we started to see in Southeast Asia grab and go jacker working on this people are trying to build it in India and Latin right now but it kind of you know emerged out of China I and it's not clear to me. It's GONNA emerge out of the US at all. FACEBOOK is basically copying. We chat right now. They're they're consolidating their messengers which is WHATSAPP instagram and Facebook Messenger first and then they're gonNA try and add mobile payment which is CA libra and then they're gonNa try and at ECOMMERCE. They're basically trying to copy. We chat doubt it will work but right yeah we. GonNa work actually. FM funding away it is that if you think the the would've Lebed consuming also content right now I think we we see also sort of a comeback of the of the male way or communicating even even if he made you means that are in clattered. MVP editor of these medium of course it's one of those were either never as much noise from me as another chance you've been consuming your base so it's it's interesting to see also this is different behavior of consumers in the US and also oh suggesting that in Europe compare the most China work they got really sadly on the Internet and they hold the new as you said where the mobile devices worked probably made sense Nikitin's which was more integrated so where you had more does and I would like to a go beco- on which you mentioned before because I think it's important for new standard at the Chinese consumers the Chinese market and in the you said the how you know the the inquiry has become a Assadi adopted in in your also mentioned that a lot of these option maybe you the fact that many people are in the rural areas which make them more prone to spend probably more time on on the Internet and you'll also mention the importance of one word of mouth as as a way of consuming things so Chinese any says at Betty generally skeptical so this is interesting because a deck suspended understand. How are you know Chinese people think so. I'll see what can do. You have any thoughts of dinking around these like How wise would amount you know implants that we are evolving Chinese economy. I mean word of mouth has sort of been the way China has operated for a long time. You know up up until recently. The news was mostly government created. Noah state on broadcasters stayed on media so people didn't necessarily I believe that at face value and similarly a lot of the information comes from corporations while they don't necessarily believe that either so people you know in China wait. These works the fifty years since you asked France. WHO's a good doctor. What's a good product. How good is that washing machine. Whole countries worked on word of mouth for a long time when Kyu and we chat came along that just basically moved it all online and even today when social social in Chad is a big part of e commerce and other things China you you chat with people about what you're going to buy and online influencers. You know these people that talk about products on Yokoun such that's the same phenomenon it's okay. I don't understand what this product is is. I don't trust anyone. I don't trust the commercial but I trust this one person. I listened to on my channel because she seems like a pretty okay person. That's kind of a version version of word of mouth. It's well. It's kind of cloudy. A trust on people trust today no that's. That's been a long running thing within China. The Internet just made it a lot. What's faster you get these these online influencers just millions of followers as they talk about what handbags in lipstick to buy discussion forms and things like that really are pretty pfeiffer chime so I mean that's part of it and the other is you just research save so many people chatting about everything all day long that the there's a very energetic online conversation happening in China now that didn't exist thirty years ago thirty years ago if you lived in Beijing you didn't know Equate Joe or Kunming. There wasn't communication. There wasn't phones. The country was very very fragmented with the vast majority of people living in villages and farms up until nineteen eighty nine hundred ninety so you know the Internet Kinda stitched everyone together for the first time and you know China has sort of this ongoing going on ongoing discussions online. That's a new thing for the country. That's never existed before right and so it's interesting to watch watch him yeah. It's it's it's very interesting to watch absolutely end the east he said beeping in conflict with the with the fact that in any case at ah China's a government tries to control sort of the communication flow especially as related in the book where were Chinese banks. Ah Losing the south of they're they're controlling the economy they're not as our for us to be does he change at the salt the Internet communication the change in effect the we and the government as our on undecided. There's a couple levels to this. Definitely there is a system of controls in the media and in some conversation that definitely exists and you know part of that is because of politically sensitive topics which is what people tend to report on but there's another level. I love it. Where the government does you it as its role to have healthy conversations things that aren't considered bad for society so if you watch TV people don't have tattoos they don't smoke on TV because those things are not considered terribly terribly good for society so it's not just about you know controlling. It's also about encouraging other types of topics encouraging sort of respect for your family. Respect back to your your elders. You know there's a lot of this that is not as controlling as people like that think. It's more about just stay. It believes that there should be a healthy level of conversation. That should be positive and you know I. I think there's a lot of value in some of that. I think that's a lot of bad behavior like if people playing Internet games too much it's ads. Are you know too much about just showing naked. Women Women are almost naked women that does get stopped because it's not considered terribly good for the country which is it's. It's not a bad argument yeah so it. It seems to me. It's a bit like the Internet in some ways. It's like. TV used to be rubbing the US many many years ago where you still have some sort of epic or like you surround what kind of things you do. Would you not do which ran now recently on the Internet. It's it's a way more difficult to control. I mean we see especially. I guess on social media another China's which are very hard to condense stems no yeah. That's probably changed a lot live. This is just been the evolving nature of the Chinese Internet and definitely in the last couple of years. The level of sort of let's say transparency in control role of online world with China has dramatically increased so things that you know existed in two thousand and nine winnings so yeah but the tech has advance sounds pretty rapidly on all of these sort of government tools and a lot of them aren't run by the government a lot of them. Are you know run and by tech companies are run by media houses who are run by people who make movies and they sort of know what they can include them what they can so it's it's pretty complicated system but it's definitely getting more sophisticated textwise. We'll look company so you following right now. Now in terms of you know as you fooling the trend the Internet companies you following you more interesting in terms of technology and mutation. I mean obviously the big ones you know the big five or six Kalibbala ten cent by Dan's by do. Dd May Thuan flon now. Those are kind of the big giants by market cap. I also look at the telco players a bid so walkway. Gt China China Mobile China Unicom because the the hardware world is I focused mostly on software on digital side right I mean software software and data but the hardware world is becoming more software. networks becomes smart as drones but come smart is refrigerators refrigerators become smart that really means adding software so more and more I'm looking at those sort of more equipment type companies as they moved towards Ford software walkways in the news a lot this year and then the AI companies that are just sort of roaring up right now. Most of them aren't public yet but there's a good number of these almost surely. Ai Companies like may be sense time equation things like that. They're pretty interesting what they're going so it's sandwiches see in the paper more or less. Yup So one particular field is It's interesting to me which is a voice search and breezy surprise. Ah You can confirm these not the as you are in China quite quite most of the time so I was a inches it actually it was glad to see that change anything boysearch she'd sound in that up in radio appropriate Alex musical. I mean mistaken like by the West Radio Voice assistant like rummy before and then Google them if I'm staying so I'll always voice trend now on others. He looked like in China while having the the the big question is sort of natural language processing on your computer here you and understand it and it turns out. That's actually pretty difficult. computer vision is much more advanced commercialize. Talbott Chinese companies especially like by which is the big surge since they've been on this for a long time has a lot to do with the fact that is actually pretty hard hard to type in Chinese on a cellphone that you know you you can sort of type on a smartphone or a PC in English quite easily but drawing young Chinese characters is actually kind of pain so people switched over to voice or started thinking about it much earlier so the accuracy levels the numbers who read about it's usually by do that. They have a high accuracy level for Chinese inputted voice. You know higher than English and that that's because has is Kinda hard to type in draw the characters that's where it's going. I'm not totally sure alibaba's all over that situation thirteen not Maldini Xiaomi has an assistant. That's moving pretty quick sodas by do so minutes kind of the equivalent of Alexa Alexa and Google for the West but you know we're seeing three or four different companies in China doing this yeah. I think it's GonNa move pretty. Quick but yeah the the recognition aspect is problematic. It actually turns out. It's pretty difficult. Civil see you know. Can it get passed basic understanding or is it. GonNa be stuck at this sort of rudimentary understanding for a long time which could.