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Chinese Workers Abandon Silicon Valley for Riches Back Home (bloomberg.com)
From a report on Bloomberg: U.S.-trained Chinese-born talent is becoming a key force in driving Chinese companies' global expansion and the country's efforts to dominate next-generation technologies like artificial intelligence and machine learning. Where college graduates once coveted a prestigious overseas job and foreign citizenship, many today gravitate toward career opportunities at home, where venture capital is now plentiful and the government dangles financial incentives for cutting-edge research. "More and more talent is moving over because China is really getting momentum in the innovation area," said Ken Qi, a headhunter for Spencer Stuart and leader of its technology practice. "This is only the beginning."
Chinese have worked or studied abroad and then returned home long enough that there's a term for them -- "sea turtles." But while a job at a U.S. tech giant once conferred near-unparalleled status, homegrown companies -- from giants like Tencent to up-and-comers like news giant Toutiao -- are now often just as prestigious. Baidu Inc. -- a search giant little-known outside of China -- convinced ex-Microsoft standout Qi Lu to helm its efforts in AI, making him one of the highest-profile returnees of recent years.
Chinese have worked or studied abroad and then returned home long enough that there's a term for them -- "sea turtles." But while a job at a U.S. tech giant once conferred near-unparalleled status, homegrown companies -- from giants like Tencent to up-and-comers like news giant Toutiao -- are now often just as prestigious. Baidu Inc. -- a search giant little-known outside of China -- convinced ex-Microsoft standout Qi Lu to helm its efforts in AI, making him one of the highest-profile returnees of recent years.
Federal and state funding has not decreased, tuition has increased.
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