China Plans Reprieve for Tech Giants, To Delay New Rules as Economy Slows (marketwatch.com) 12
China is preparing to hit pause on its monthslong campaign against technology companies, WSJ reported Friday, citing people familiar with the matter, as officials seek to arrest a rapid deterioration in the country's economic outlook. From the report: China's top internet regulator is set to meet next week with the country's embattled tech giants to discuss the regulatory campaign, according to the people, who described the meeting as a sign that officials acknowledge the toll the regulations have had on the private sector at a time when China's economic outlook is increasingly clouded due to strict COVID measures. Regulators are planning to hold off on new rules that limit the time that young people spend on mobile apps, according to one of the people, while another person said that Beijing is considering pushing some of its biggest tech companies to offer 1% equity stakes to the state and give the government a direct role in corporate decisions.
Control (Score:2, Funny)
Beijing is considering pushing some of its biggest tech companies to offer 1% equity stakes to the state and give the government a direct role in corporate decisions.
Because if it's one class of people who know how to run an efficient, customer-focused enterprise, it's unelected bureaucrats.
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Yes, it is a clear track record that state operated companies are superior in performance.
That is why 99 of the top 100 companies worldwide are state operated.
24% [Re:Control] (Score:2)
99 of the top 100 companies worldwide are state operated.
Citation needed.
12 of the top 50 companies worldwide are state operated. Enough that you can say "yes, state operated companies sometimes do very well," but not close to the 99% posted. https://en.wikipedia.org/wiki/... [wikipedia.org]
(Or was that just an attempt at sarcasm that failed?)
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Yes, it's clearly much better to let unelected billionaires buy them, take them private and run them as their personal whims dictate.
Re:Control (Score:5, Funny)
Yes, it's clearly much better to let unelected billionaires buy them, take them private and run them as their personal whims dictate.
Don't worry, Citizen, your newly-established Ministry of Truth will ensure Big Bad Musk won't offend your virgin, sentive ears with something as rough and grating -- and apparently unwanted -- as The Truth.
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Don't worry, Citizen, your newly-established Ministry of Truth will ensure Big Bad Musk won't offend your virgin, sentive ears with something as rough and grating -- and apparently unwanted -- as The Truth.
The real problem with unmoderated social media is that the truth may be there, but it's buried under a cesspool of stinking shit.
(I don't know how to solve that problem., but "use algorithms that don't promote shit based on the fact that it increases 'engagement'" would be a good start.)
--
"Civilized Society" jumped the shark ca. 1973.
The Nixon administration? Hmm, interesting proposal. Nixon was the first president that explicitly decided that the press was an enemy.
Should not have voted themselves an emperor (Score:3)
That never goes well. On the other hand, the "Chinese century" some people predicted came right there to its end before it began.
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The problem is the idea that either no regulation or abusive regulation will lead to positive outcomes. Neither of those plans work. It doesn't matter who decides to implement either.
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The problem is the idea that (n)either no regulation or abusive regulation will lead to positive outcomes. Neither of those plans work. It doesn't matter who decides to implement either.
Guess there was an "n" missing. You are perfectly correct. Markets can do some things, they cannot do others. With too little regulation, we get abominations like the super-rich or people buying their way into power. Or a whole industry conning the human race into ignoring an essential threat (like the oil industry started doing around 1980). With too much, things become rigid and inflexible and people lose motivation to improve things. Also, rigid structures are easily corrupted and are universally bureauc
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