Last week, Eric Schmidt, Chairman of Alphabet, predicted that China will “rapidly overtake the U.S. in artificial intelligence… in as little as five years.”
Last month, China announced plans to open a $10 billion quantum computing research center in 2020.
Bottom line, China is aggressively investing in exponential technologies, pursuing a bold goal of becoming the global AI superpower by 2030.
Based on what I’ve observed from China’s entrepreneurial scene, I believe they have a real shot of hitting that goal.
As I described in a previous tech blog, I recently traveled to China with a group of my Abundance 360 members, where I was hosted by my friend Kai Fu Lee, the founder of Sinnovation Ventures.
On one of our first nights, Kai Fu invited us to a special dinner at DaDong Roast, which specializes in Pei King duck, where we shared an 18-course meal.
The meal was amazing, and Kai Fu’s dinner conversation provided us priceless insights on Chinese entrepreneurs.
Three topics opened my eyes. Here’s the wisdom I’d like to share with you.
- The Entrepreneurial Culture in China
Chinese entrepreneurship has exploded onto the scene and changed significantly over the past 10 years.
IMHO, one significant way that Chinese entrepreneurs vary from their American counterparts is in work ethic. The mantra I found in the startups I visited in Beijing and Shanghai was “9-9-6” – meaning the employees only needed to work from 9 am to 9 pm, 6 days a week.