Forget Silicon Valley. Innovation is happening in China now

If you narrow the scope to tech-only companies, China has seven companies in the top 20. Two of them, Tencent and Alibaba, among the top six.

“China has a fairly deep awareness of what’s happening in the English-speaking world, but the opposite is not true.” This asymmetry is helping China fly under the radar. Most organizations are so focused on the Silicon Valley dream that they’re missing the elephant in the room.

China’s university are already outperforming many of their international peers.

“The velocity of work is much faster in China than in most of Silicon Valley,” says Ng. “When you spot a business opportunity in China, the window of time you have to respond usually very short — shorter in China than the United States.” — Ng

On November 12th 2017, Alibaba transacted more business in one day ($25bn) than Amazon typically does in one quarter (Q4 2017 excepted) Furthermore, when one looks at retail Alibaba is also far more advanced with a series of investments in large retailers and at least 600,000 small retail outlets converted to its Tmall retail system (LST). Amazon has 1 store on its system and 479 Whole Foods stores which are gradually being converted. Alibaba LST (Ling Shou Tong) is a system by which an offline convenience store can be converted to being fully digital.

At the heart of the rise of the Chinese startups lies the field of Artificial Intelligence.

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