Trending in China today: People in China are buzzing about the Weibo ban, Wang Sicong’s response to an open letter by a Korean live-streaming host, and the diminishment of the iPhone in China.
Weibo bans video uploads longer than 15 minutes
This will hurt Weibo’s business model considering video-related content is the secret sauce of Weibo’s recent renaissance. The new rules are just one of a series of recent restrictions by the Chinese government on Weibo. This news brings Weibo’s US stock down by almost 2 percent.
Weibo comment: “The new solution? Break down an hour film into 4 parts.”
Wang Sicong responded to the Korean live-streaming host’s open letter
After a live-streaming host accused Panda TV in an open letter of failing to pay her after signing a deal to host, Wang Sicong, the CEO of the site, made an official announcement saying they followed the regular business practice. He also said her contract is over because she didn’t get the viewership she promised. Fueling the discussion is a Weibo response from a former Panda TV staffer who claimed the host sued the company to win people’s empathy and make more money in China.
Weibo comment: “Wang Sicong’s response is persuasive, he kept his words.”
Is this the end of iPhone’s 10 years in China?
Even though people in China today are still buzzing over whether the iPhone 8 will include a new Wifi charging function, iPhone is losing ground in China. OPPO and Huawei have released high-quality but lower priced devices, now dominating the domestic market.
Weibo comment: “iPhone will forever be the legend. It’s the original one of every copied mobile phone brand in China.”
Jack Ma: AI will cause people ‘more pain than happiness’
AI will more likely eliminate jobs and force aging people to fight for fewer paid positions. It could even be the catalyst for the third world war, according to Jack Ma, who spoke today at an entrepreneurship conference in China. He also recalled when, 15 years ago, he warned traditional retailers of the impact of e-commerce. Few people listened to him.
Weibo comment: “Jack Ma also said e-commerce won’t exist in the future. Let’s wait and see.”