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This is how bad China’s startup scene looks now

TechCrunchTechCrunch · 1m
This is how bad China’s startup scene looks now

The Chinese startup scene has dramatically declined since 2018 due to several factors: the pandemic, a real estate bubble burst, US-China tensions, and a government crackdown on tech companies. Despite claims that the cleanup efforts are over, entrepreneurs are hesitant to rebuild, feeling their assets are no longer truly their own. Venture capitalists and private equity executives who fueled the earlier boom are now described as "depressed" and less visible. This situation contrasts sharply with the optimistic view of China's tech sector in 2018, when VC Mike Moritz praised the "furious" pace of work and investment opportunities. The article suggests that China's startup ecosystem may never fully recover from these setbacks, marking a significant shift in the global tech landscape.

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