Collapse of Chinese startup ecosystem. Cost of detaining Jack Ma will be in trillions ! Deng Xiaoping must be cursing Xi Jinping from heaven

• BioBay, a science park in Suzhou, is nearly deserted with many biotech start-ups having moved out or closed down.
• The venture capital industry in China has seen a dramatic decline, with start-ups founded dropping from 51,302 in 2018...

• Zhong Shanshan, founder of Nongfu Spring Co., criticizes PDD Holdings and ByteDance for instigating a price war and spreading negative publicity.
• The fallout led to a $20 billion loss in market capitalization for Nongfu and Zhong's ...

What an absolute shit show https://www.moneycontrol.com/news/technology/fraud-threats-sexual-harassment-zilingos-ankiti-bose-files-fir-against-co-founder-ex-coo-12706929.html