Rui Ma 马睿 Profile picture
Feb 8 4 tweets 1 min read
Bombarded w stories about Eileen Gu’s parenting. She went back to Beijing every summer for math tutoring (Haidian Huangzhuang) bc her mom believed “ten days of Chinese math class = one year of American math class.” Apparently this worked & Eileen aced all her math in the US. 😜
But her mom isn’t a tiger mom actually. Eileen calls her a rabbit mom 🐰: super supportive of her doing what she loves, first and foremost. Chinese media painting Eileen as outcome of perfect pairing of American (creativity, passion) & Chinese (discipline) education methods.
Of course, genes & money play into it too, readers note. The parents are Stanford / Harvard grads. Eileen’s mom worked on Wall Street & in investing. But still, refreshing to hear that Eileen’s drive comes from herself, not imposed on her by her mom, as many Chinese parents do.
As for the Q on her citizenship, I love her message. She is clear: I feel both Chinese & American equally & I don’t plan to tell you what color my little booklet is or how many I have bc that’s not how I see myself, it doesn’t define me & I’m not letting you define me that way.

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More from @ruima

Feb 10
1/ “We used to invest in founders & asset light biz model innovations w/ high uncertainty that were often unprofitable for a long time but could exit overseas. Now those enabling conditions have been fundamentally altered by regulations, capital markets changes, & fact that China
2/ has entered a new period where the economy is changing structurally, one where the highest growth is in upgrading efficiencies in the real economy, typically via heavier asset, real science & R&D innovations, who have steady vs. explosive growth & have much higher certainty
3/ (vs internet biz that often pivot to something completely different after you invest, altho this does not assure success, just less reliance on trusting founder and more domain specific knowledge on truly understanding the technology and sector).
Since 2015 we have been
Read 8 tweets
Feb 9
Your daily reminder that Chinese policies are about growing the real economy, not suppressing internet / soft tech in favor of hard tech. Xi has been saying China needs to be a "strong network country," grow the digital economy, this has been in the 5-Year Plans starting 2014.
Yes, there is *also* emphasis on becoming a country with "strong science & technology," but these are not mutually exclusive things. In fact they are both necessary. Why this became an either/or instead of both I simply do not understand. They're BOTH top priorities.
I'll be reminding you of this until I stop seeing the stupid soft vs hard tech narrative.
And if you don't believe me, surely you believe Xi Jinping. Read his thoughts on tech in his own words, which I summarized for @TechBuzzChina subscribers:
insider.techbuzzchina.com/c/policies-and…
Read 4 tweets
Feb 5
Your daily reminder that China's digital platform regulations aren't going away & wasn't targeted at specific individuals. @ChinaFinance40 just published a long piece by JIANG Xiaojuan, Dean of Tsinghua School of Public Administration, NPC Standing Committee member, on the topic.
6 Recommendations
1) Govt cannot possibly monitor every transaction or rely on reports of bad behavior to regulate these huge cos. Should ask platforms to setup internal systems for IP, consumer protections etc, and regulate the systems. Will also help in internationalization.
2) Diff types of platforms will need diff regulations. For example, for search type platforms focus on mkt share & throttling of competitors. For ecommerce exclusivity, subsidies & self-owned brands. Social is content and privacy. Payments focus on competition and financial risk.
Read 9 tweets
Feb 4
The problem w bad China takes is that most people just don't know what they don't know. It's really easy to get bad info. Let me give you a personal example, this is 2017. I'm in China for a biz trip trip and happen to run into some expats I know in a bar in Beijing, all in tech.
They're tech folks but they're newish to China, and they're hanging out with this person who is talking up a storm about their billionaire connections. Let's call them X. X and I have met before but never talked too much. X knows I'm in tech and immediately proceeds to show off.
Oh you used to work for a US based fund they say.
Yes but I just quit.
That's prob a good idea. I was just showing the head of this Top Fund around this week in Beijing. They have no idea what they're doing. I had to introduce them to everyone.
Oh?! That's funny, because ...
Read 7 tweets
Jan 20
The document all you China internet Big Tech stock investors should actually be reading ... "several opinions on healthy & sustainable development of platform economies" published by the NDRC, CAC, SAMR & total of 9 regulatory bodies yesterday (but dated 12/24/21).
Here is the full document and Google Translate works quite well.
ndrc.gov.cn/xxgk/zcfb/tz/2…
Some points of interest, most of which have been predicted, but in case you haven't heard:
- sever inappropriate linkage btwn payments and other financial products
- support third party algorithm evaluation, increase transparency explainability & fairness
Read 9 tweets
Dec 20, 2021
Damn, China’s top livestreamer seller Viya has been fined $200mm USD in unpaid taxes and penalties. Is Austin (the guy who sold $1.9Bn back in October over 12 hours) next up? 👀
That was for 2019 and 2020. What I guess that shows is if her tax evasion pre penalties were at $110mm then she really is making as much as people thought 😂 also looks like since this is her first offense she gets a chance to pay off and not go to jail
Top comment:
Wang Leehom thanks you (for diverting the public’s attention away from his scandal)
Fan Bingbing thanks you (for showing she’s really far from the worst, her fine was $129mm)
Read 5 tweets

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