richer and in some cases more decadent. there s a school for butlers and a finishing school for children of the rich. young chinese billionaires often behave as badly as their counterparts around the world. translator: it s like raising a child. i have deep affection for my dog. this young man started a chinese version of pets.com, then used his money to build a mansion for his dog. xi is now cracking down on all kinds of private enterprise. he doesn t have a problem with them getting rich, but he wants them to get rich in a patriotic way. at the point at which it began to feel as if it was brushing up against the outer edges of his power and authority, that s the point at which it became ill tolerable. and he may be trying to quell a deeper fear. could communist china collapse
a child. i have deep affection for my dog. this young man started a chinese version of pets.com, then used his money to build a mansion for his dog. xi is now cracking down on all kinds of private enterprise. he doesn t have a problem with them getting rich. but he wants them to get rich in a patriotic way. at the point at which it began to feel as if it was brushing up against the outer edges of his power and authority, that s the points in which it became intolerable. and he may be trying to quell a deeper fear, could communist china collapse the way the soviet union did? the dying gasp of the soviet system. always in the back of his mind is the subject of the soviet collapse. why did it happen? for xi, the fall of the soviet union became an
i have deep affection for my dog. this young man started a chinese version of pets.com and used his money to build a mansion for his dog. xi is now cracking down on all kinds of private enterprise. he does not have a problem with them getting rich but he wants them to get rich in a patriotic way. at the point which it began to feel it was brushing up against the outer edges of his power and authority, that s the point it which became intolerable. he may be trying to quell a deeper fear. could communist china collapse? the way the soviet union did. always in the back of his mind is the subject of the soviet collapse, why did it happen? for xi, the fall of the soviet union became an obsession. xi jinping often talks about
Taylor: Blank-check companies are the new bubble
March 3, 2021
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Nominations are already open for the craziest frothy finance stories of 2021.
Strong cases can be made (and I have made them) for Bitcoin and Reddit bros’ GameStop short squeezes.
But maybe the uber example of frothy finances this year are SPACs.
Special purpose acquisition companies have existed for years, but on the fringes of Wall Street. Now, they are front and center.
SPACs are known as “blank-check” companies. You buy shares in a company that is an empty shell. The shell sells 100 million shares for, say $10, raising a billion dollars. In the future typically by next year the managers of the SPAC promise to purchase a private company. At that point, you find out what you, the shareholder, own!
San Francisco s dream of the future is eternal - but it s time to move on
The author of Tech Chronicle signs off.
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Farewell, and thanks for all the fish treats
I wasn’t generally given to vandalism as a child growing up in the Virginia suburbs of Washington, but when I was 7 or so, I took a marker and defaced our game of “Monopoly.” The instructions on one square said “Go to jail.” I crossed that out and wrote “Go to San Francisco.”
I never stopped dreaming that it was possible to roll the dice and transport yourself to a place where you could rewrite the rules. After college, I followed my own direction and moved to California. It was 1995, when San Francisco and the internet were having their first collision.