How the internet pushed China’s New Year red packet tradition to the extreme
Catch up with China
1. Sam Altman’s plan for a $7 trillion-worth semiconductor empire includes building dozens of chip fabrication plants with money from Middle East investors, then having the Taiwanese chipmaker TSMC run them. (Wall Street Journal $)
2. A former TikTok executive is suing the company for unlawfully firing her due to what they called a lack of “docility and meekness.” (Financial Times $)
3. If he’s reelected, Donald Trump is promising a 60% tariff on all Chinese imports. If that actually happens (big if), it would almost wipe out all imports from China by 2030. (Bloomberg $)
- For the first time in 22 years, Mexico has surpassed China to be the United States’ largest import source. (ABC News)
4. Members of the European Union have had a falling out because of their different positions on China and how to handle trade across economic sectors. (South China Morning Post $)
5. A new report found more than 100 websites disguised as local news outlets in Europe, Asia, and Latin America are actually part of an influence campaign linked to a Beijing public relations firm. (Reuters $)
6. How Hefei, a city in central China, rose up to become a leader in electric-vehicle production by investing government money in fledgling startups. (New York Times $)
Lost in translation
While we are on the topic of digital red packets, people are selling AI-generated artwork as red packet designs this year, according to the Chinese publication Guokr. After WeChat allowed users to customize what their red packet looks like on the app in 2019, a new business has emerged to let people spend a few bucks and get a new look for their digital gifts every year. Successful artists can make a decent bit of money with it.
However, the industry is now unsurprisingly being disrupted by image-making AIs like Midjourney. There’s even a burgeoning entrepreneurial scene where people repackage these AI services to tailor them to design red packets, simplifying the process. On social media, some people are promising that you can earn quick cash by generating AI red packets, attracting others to cash in on the trend. But in reality, there are still many obstacles to fine-tuning the designs and gaining traction among potential buyers.
One more thing
You might not be able to get an Apple Vision Pro yet, but you can hop on a Hainan Airlines flight, where all passengers are given a pair of augmented reality goggles made by a Chinese company for free in-flight entertainment. They look so much lighter than Apple’s headset. I want to try them out!
ROKID
