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The Triad

Why China Is Crushing Its Own Tech Sector

Power centers.

Jonathan V. Last's avatar
Jonathan V. Last
July 7, 2021∙ Paid

1. China and Tech

Over the holiday, the Chinese government decided to crack down on the app Didi.

Didi is the Chinese Uber. It’s a big company. On June 30, it went public on the NYSE and shot to a market cap of $68 billion. Like I said: Big company.

But just a few days later, the Chinese government instituted a “review” of Didi. And two days after that, th…

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