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AustenAllred's profile
Austen Allred
Austen Allred
Austen Allred
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@AustenAllred

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Austen AllredVerified account

@AustenAllred

CEO @LambdaSchool (YC S17): A CS education that's free until you get a job. I have made remarks that I do not agree with.

San Francisco, CA
lambdaschool.com
Joined December 2010

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    Austen Allred‏Verified account @AustenAllred Jun 18

    Austen Allred Retweeted Patrick Collison

    There are a few major differences in how China is doing tech that are a little terrifying if you’re a Silicon Valley company that wants to compete (thread)https://twitter.com/patrickc/status/1008699726005325825 …

    Austen Allred added,

    Patrick CollisonVerified account @patrickc
    "All lists of private companies contain degrees of subjectivity and error, but the Wikipedia ranking of unicorn start-ups by value offers a peek into the future. Of the top 50 entries, 26 are Chinese and 16 are American. There are none from Europe." https://www.ft.com/content/3530f178-6e50-11e8-8863-a9bb262c5f53 …
    6:45 AM - 18 Jun 2018
    • 117 Retweets
    • 248 Likes
    • Derek iyi 🐐QuirkyLlama😾🎩 Sandeep THE BLANK SWAN Taylor Grant Suhas Mallya xkcdz Prometheusai
    10 replies 117 retweets 248 likes
      1. New conversation
      2. Austen Allred‏Verified account @AustenAllred Jun 18

        1. They work harder. The standard schedule of a Chinese tech employee is what they call “9-9-6”; 9 AM to 9 PM, 6 days a week If you even joked about requiring 9-9-6 in Silicon Valley you would have people running for the exitshttps://www.wsj.com/articles/long-days-a-staple-at-chinese-tech-firms-1487787775 …

        15 replies 22 retweets 83 likes
        Show this thread
      3. Austen Allred‏Verified account @AustenAllred Jun 18

        2. Regulation is not an issue In the US one of the most likely killers of revolutionary tech startups is regulation. In China the government is often a first investor, first customer, and is the entity that pushes companies forward as much as anything else

        4 replies 9 retweets 60 likes
        Show this thread
      4. Austen Allred‏Verified account @AustenAllred Jun 18

        3. They take a hyper-analytical viewpoint and don’t worry about copying When I was in Beijing we met with the Chinese Airbnb. When they noticed that Airbnb was working they hired 100 people and cranked out feature parity in a few months, and were unashamed of that

        3 replies 6 retweets 54 likes
        Show this thread
      5. Austen Allred‏Verified account @AustenAllred Jun 18

        4. They have a much, much greater supply of STEM workers China has 4x the population but 10x the tech employees. Ordinary software engineers get paid living salaries but not what they get paid in the US.

        1 reply 7 retweets 48 likes
        Show this thread
      6. Austen Allred‏Verified account @AustenAllred Jun 18

        5. There’s a lot of capital with nowhere else to go This is true in the US as well, but in China you not only have practically zero interest but a law that makes it difficult to get money out. Every VC backed company has an investment arm, and multiples are *higher* in China

        1 reply 7 retweets 40 likes
        Show this thread
      7. Austen Allred‏Verified account @AustenAllred Jun 18

        6. They have incredible ecosystems to build into I’ve never seen anything like WeChat. You use it for literally everything, from paying bills to connecting with friends. QR codes are everywhere and actually used, and people expect it

        2 replies 9 retweets 47 likes
        Show this thread
      8. Austen Allred‏Verified account @AustenAllred Jun 18

        7. They don’t fear hardware (or atoms generally) Companies were baffled that SV has such a hard time with hardware. It’s no more difficult in their eyes to ship atoms than bits.

        4 replies 6 retweets 41 likes
        Show this thread
      9. Austen Allred‏Verified account @AustenAllred Jun 18

        Put all those things together with good ol’ regulatory uncertainty, and it’s difficult to imagine any US company winning a Chinese market. Then you remember that the market is bigger there and growing, and it will likely always be the case that their tech scene is bigger

        9 replies 8 retweets 56 likes
        Show this thread
      10. End of conversation
      1. New conversation
      2. alex n‏ @gigatexal Jun 18
        Replying to @AustenAllred

        I don’t understand your fascination with China. You don’t compete with a Chinese tech company. It’s a rigged game. They will steal your IP. Coopt your tech. And leave you with nothing. Led by an autocrat who wants to be a world leader we should be very skeptical of China.

        1 reply 0 retweets 1 like
      3. Austen Allred‏Verified account @AustenAllred Jun 18
        Replying to @gigatexal

        I lived in China

        3 replies 0 retweets 3 likes
      4. alex n‏ @gigatexal Jun 19
        Replying to @AustenAllred

        Having lived there you’d ask a entrepreneur to operate a startup behind their asinine firewall, the up theft, the corrupt state, I could go on... it seems disingenuous to only see the free access to capital. Educate them on your platform. But setup a business there — never.

        1 reply 0 retweets 1 like
      5. Austen Allred‏Verified account @AustenAllred Jun 19
        Replying to @gigatexal

        wtf are you talking about?

        1 reply 0 retweets 3 likes
      6. alex n‏ @gigatexal Jun 19
        Replying to @AustenAllred

        Doing business or starting one in China.

        0 replies 0 retweets 0 likes
      7. End of conversation
      1. New conversation
      2. Wanqu 湾区日报‏ @wanquribao Jun 18
        Replying to @AustenAllred

        996 is so 2015. Have your heard of 007? 🙌🏻

        1 reply 2 retweets 12 likes
      3. 1 more reply
      1. Wanqu 湾区日报‏ @wanquribao Jun 18
        Replying to @AustenAllred

        If anyone wants to know how Chinese people think about this thread, you can use Google Translate to read comments from Weibo (tldr: very negative about 996): https://weibo.com/5242649983/Gm2pU787T?type=repost#_rnd1529371202408 …

        0 replies 1 retweet 6 likes
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      1. Brian Heligman‏ @BrianTHeligman Jun 18
        Replying to @AustenAllred

        China is a little scary to me. If you have an intelligent dictator at this highly leveraged time in history, do you win? Definitely seems unsustainable long-term but we live in such an inflection point.

        0 replies 0 retweets 3 likes
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      1. Jack Rabuck‏ @JackRabuck Jun 18
        Replying to @AustenAllred

        It will be very exciting to be a consumer once the copycat companies are saturated and all of the 9-9-6ers are pushing tech forward. We'll know because they'll be asking for more strict IP protection.

        0 replies 0 retweets 2 likes
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      1. LaLaLazarus‏ @chopinandsky Jun 19
        Replying to @AustenAllred

        BAT are the main drive of the bloated valuations, not saying that's not the case in the Silicone Valley, but bring many questions when the profitablility is very much in doubt, e.g. ofo.

        0 replies 0 retweets 0 likes
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      1. Javier‏ @Furryducky Jun 19
        Replying to @AustenAllred

        Idk if that’s true statement its really “How China is doing labor differently from Silicon Valley”

        0 replies 0 retweets 0 likes
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