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Reality Bytes: A Highflying Tech Entrepreneur Crashes Back To Earth (wsj.com)
An anonymous reader shares a WSJ article: Entrepreneur Jia Yueting likes to say that Apple is outdated, China's big technology companies are innovation-killing monopolies and his company, LeEco, is the real industry disrupter. That swagger served Mr. Jia in building an empire that sprawled across seven industries, from online video content to smartphones to electric cars. By having the ambition to take on Apple, Tesla and Netflix all at once, Mr. Jia seemed to embody the boundless promise of the huge China market. And investors responded favorably. Deal makers like HNA Capital and Legend Holdings bought in, as did the city government of tech hub Shenzhen, as well as movie director Zhang Yimou and other celebrities. British sports car maker Aston Martin joined up to develop electric vehicles. The U.S. state of Nevada promised $200 million in incentives for Mr. Jia's electric car venture, Faraday Futures, to build a $1 billion plant there. And LeEco unveiled a $2 billion deal to buy U.S. TV-maker Vizio. Now, most of those deals are dead or struggling and Mr. Jia's dreams are fading away due to a cash crunch and worried creditors (could be paywalled). On Thursday he resigned as chairman of a listed unit of LeEco, Leshi Internet Information & Technology, though he will remain the chairman of the holding company. That move comes after a Shanghai court last week -- at the behest of China Merchants Bank -- froze $181 million worth of his assets and $2 billion in shares over a missed interest payment.
It's called "a metaphor".
Get a grip.
And no, that's not an instruction for you to grab yourself with one hand.
I thought Britain no longer has car makers, maybe AM is a niche (I almost think AM stayed in business per the famous spy movies). Can't read the article but there was a time when British had several car companies including the legendary Rolls Royce. I think of a documentary that discussed what happened to all these companies and some reasons why. Perhaps similar reasons why Jia Yueting bit the dust (no, he didn't chew on dirt. Only expression he has significantly less earnings than before).
mfwright@batnet.com
It was pretty obvious that the company bit off way more than it could chew. They did make pretty nice phones though.
Curious if the submitter works with WSJ (Wall Street Journal). Not much point in sending a story that requires a subscription unless they want to increase subscribership. It would be appreciated if these types of stories were not submitted as it's irritating to those trying to read it.
"Imagination is more important than knowledge" - Einstein
Fear fuels the Wall Industrial Complex.
Table-ized A.I.
Meh
clickbait
So... wait... are you saying that you actually did think that he was launched into outer space and his spaceship crashed and that's what the article was about and that's why you clicked through it? Yes, I can see where American English slang would ruin your day most days.
Proud neuron in the Slashdot hivemind since 2002.
One of the classic signs that you're dealing with someone with Aspergers is their inability to "get" things like metaphors or irony. It's not that they're stupid, it's simply that they are wired to see things in very black and white terms, and to tend to take things very literally.
The world's burning. Moped Jesus spotted on I50. Details at 11.
Lot of Unicorn beating today. ''Tis the season! Earnings are just around the corner!
The real kicker is that the AC complaining about there not being a literal crash to Earth was making a joke.
If you can't see that (especially with the clickbait and "american english" references) you're the asspie.
I wondered if he had crashed too. Got an aspergers diagnose as well. Don't see a problem with the request and agree and wish I had mod-points.
Rich Tesla competing tech entrepreneur crashed. .. is it all that illogical to wonder whatever from the air or not?
What exactly is clickbait? His company is imploding despite being overhyped and the next Jesus corporation.
Or the more plausible option: his business was overhyped and simply crash and burned due to excessive burn rates without the revenue to back it up.
I highly doubt you've eaten "inland Chinese food" or even classic Asian food - it's pretty meager on the farms, you may get chicken feet in your broth soup but that will be the extent of the meat. Dumplings aren't stuffed with meat but rather tough and doughy and dry out in a matter of hours. Half of Chinese "traditional" food would be too spicy for most of us and a lot of it you wouldn't recognize. A lot of soybean and cucumber though.
Muslims don't really have a cuisine, they only have restrictions although goat is pretty good food but the Middle Eastern area is wide and diverse in food products from Turkish tea that's mostly sugar to Afghan goat with couscous (as a visitor at least, the hospitality customs almost require lavish meals, I'm pretty sure the regular food is rather meager).
Custom electronics and digital signage for your business: www.evcircuits.com
Yes it is illogical because "came crashing down to earth" in various forms is a very common metaphor. I am very surprised you haven't encountered it before.
"american english slang"
Obviously you've never heard of the BRITISH sci-fi flick The Man Who Fell To Earth which although written by American Walter Tevis, was adapted into a film by Nicolas Roeg & Paul Mayersberg and the title role was played by David Bowie.
Guess which country all three grew up in. Hint: NOT the USofA
Pain is merely failure leaving the body
Morgan has been independent since it was founded in 1909.
This sig left unintentionally blank.
Isn't it up to the INS to decide?
Confucius say, "Find worm in apple - bad. Find half a worm - worse."
You can have a rump steak, so why not?
Confucius say, "Find worm in apple - bad. Find half a worm - worse."
Yes it is illogical because "came crashing down to earth" in various forms is a very common metaphor. I am very surprised you haven't encountered it before.
I'm fine with both.