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I reckon it is hard not to get rich when you have the best of both worlds - some sort of state protection (against foreign giants) with a huge local economy, but yet able to get your stock listed elsewhere for "better valuations".
But I disagree it is dangerous for those "founders". These founders are VIP partners to the CCP. An extract from Howard Marks' latest memo "Shall We Repel the Laws of Economics" as below:
China’s private sector is often summed up with a combination of four numbers: 60/70/80/90. Private firms contribute 60% of China’s GDP, 70% of its innovative capacity, 80% of its urban employment and 90% of new jobs.
But nonetheless, it is still dangerous - pretty risky for the folks who invest together with these "founders", since the "structure" doesn't look aligned here.
But I disagree it is dangerous for those "founders". These founders are VIP partners to the CCP. An extract from Howard Marks' latest memo "Shall We Repel the Laws of Economics" as below:
China’s private sector is often summed up with a combination of four numbers: 60/70/80/90. Private firms contribute 60% of China’s GDP, 70% of its innovative capacity, 80% of its urban employment and 90% of new jobs.
But nonetheless, it is still dangerous - pretty risky for the folks who invest together with these "founders", since the "structure" doesn't look aligned here.