In the end, it turns out that people didn't dislike Chinese policies of nationalized industries. They only disliked that the Chinese were doing it.

I can't wait for the "I don't think social credit scores are a bad idea. Cancel culture is good actually".

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creato 3 days ago | parent | next [-]

"People" you are referring to want a level playing field. If the Chinese government is tilting the field, there aren't a lot of good options. You can either watch the Chinese subsidize draining most productive capacity from the rest of the world, erect trade barriers (my preference, but it would require cooperation with other countries, which... ain't gonna happen for a while now), or try to tilt back.

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aurareturn 3 days ago | parent | next [-]

If you truly think Chinese subsidies are artificially depressing prices, then just buy Chinese goods to take Chinese’s people’s hard earned money.

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vlovich123 3 days ago | parent [-]

Are you unfamiliar with the concept of cornering a market? Sure, uber was offering lower prices subsidized by VCs until taxis were driven off. After the fact they raised prices back up. Or what Amazon did with diapers.com? It is not wise to let your geopolitical foe gut the productive capability of your economy. It’s how America took over dominance from the UK by taking over the high tech business of the day back then (textiles).

It’s fine for the consumer in the short term but a flawed long term strategy.

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aurareturn 2 days ago | parent | next [-]

Uber lost $31b. They make about $4b/year in profit now. It'll take them 7 years to make it all back assuming they don't grow anymore.

$31b put into S&P 500 would have netted investors are more in return over the last 15 years. So honestly it was a bad deal.

And let's not forget that Uber can be killed by self driving cars.

	▲	vlovich123 a day ago \| parent [-]
		That’s like claiming that Amazon is a bad investment because they weren’t reliably profitable until 2015 and only had their first profitable year in 2003. The part you’d be missing is that they were reinvesting all their profits into the revenue growth machine. These past few years is actually the switchover point for Uber when growth seems to have leveled off more. It’ll take them 7 years to make it back and keep generating for even longer. Whether or not self driving cars kills Uber will depend on how well or poorly they’ve diversified their business model. But headwinds and risks are true of any business. You’re missing the larger point I’m making that investors and business people frequently do loss leading as a tactic to kill off competitors and once the competitors are gone they can milk the market. Whether or not it’s an effective strategy doesn’t matter - can companies are not coming back no matter what happens to Uber. Similarly, local industries that China kills won’t come back no matter what happens with China. Also as a final nit - the data I’ve looked up suggests they only lost 16B since founding. This halves the payback time to a few years and then every year after that is many billions in profit.

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aurareturn 2 days ago | parent | prev [-]

Uber lost $31b. They make about $4b/year in profit now. It'll take them 7 years to make it all back assuming they don't grow anymore.

$31b put into Nasdaq would have netted investors $300b before dividends. So honestly it was a bad deal.

And let's not forget that Uber can be killed by self driving cars.

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frankzinger 3 days ago | parent | prev [-]

Yeah sure but then you do it properly. Why did Trump have to coerce them into the deal (by threatening to fire the CEO)? Just imagine what's going on behind closed doors.

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sunaookami 2 days ago | parent | prev | next [-]

There is no social credit score system in China.

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verzali 3 days ago | parent | prev [-]

I don't even think thats a joke. Trump doesn't dislike cancel culture, he just wants to be the one doing the canceling. And credit scores? You are already half way there with the way the government is acting.