sea turtle and local entrepreneur at HYSTA
Sea turtle in China refers to oversea Chinese return China after receiving degrees or working experience outside of China. It carries sort of very positive meaning. Usually sea turtle entrepreneur enjoy much higher reputation than local entrepreneur, I guess, due to some tactics backed by government policy to attract oversea Chinese to return home. To my knowledge, if we just look at Chinese companies on NASDAQ, over 90% of them are founded by sea turtles. There are many reasons to explain this. This absolutely doesn't mean there are no successful local entrepreneur. Actually, in the current China internet industry, several most successful entrepreneur are from local, Hongyi Zhou, Lei Ding and Jack Ma. They are very successful because they pay their full attention on local market, which is clearly restated by Lei Ding at HYSTA 2007. Netease doesn't go global because he believes Chinese market is big enough with 1.3 billion people. He really believes Chinese market has great potential.
It's also interesting to observe that Lei Ding and Wei Guo spoke Chinese during conference. Actually when I ran into Jerry Yang in the VIP room, I found his Chinese is very good. He was having picture with Zhi Tan. Both of them are around 40. However, both of them have half of hair white.
It's also interesting to observe that Lei Ding and Wei Guo spoke Chinese during conference. Actually when I ran into Jerry Yang in the VIP room, I found his Chinese is very good. He was having picture with Zhi Tan. Both of them are around 40. However, both of them have half of hair white.
posted by HFT at 11:16 PM
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