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Joined 1 year ago
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Cake day: June 21st, 2023

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  • There may be other political parties but none of them have anywhere near the power of the CPC. They are all subordinate. For example, all election candidates must be approved by the CPC.

    Also, the only direct elections in China are at the local level. At higher levels of government everything is chosen by local congresses. This results in a system where the people at the top are very removed from the votes of citizens.

    Also, the national Congress largely exists to rubber-stamp whatever Xi Jinping wants. Any opposition would be swiftly stamped out.





  • The final summary of the article you linked:

    “Using 105,950 observations from 32 different studies we find that CVC investments are performance enhancing, for both corporations and start-ups. Our results detect that time, country, and industry moderate the effects. Especially after the Dotcom bubble burst, high performance is detected. Similarly, the performance in the U.S. outreaches the performance of other countries. Due to the high risk of successfully developing a pharmaceutical drug, no statistically significant effect of CVC investments in the health care industry is observed. As expected, strategic performance outperforms financial impacts. Although there is good rationale for a clear strategic focus, the finding that CVC investment does not lead to stronger financial performance is surprising and urges practitioners to rethink their CVC objectives and approach”

    Disregarding the fact that this is only looking at CVCs and not traditional VCs, I don’t think this really supports your argument that it is a dice roll at best. Seems to me like it is broadly beneficial with some caveats.