This week your co-hosts explore conflicting reports of Bytedance's valuation and pontificate on why that valuation is justified against the backdrop of China's tech landscape. They discuss more upcoming IPOs, including Xiaohong Shu and Xiaomi's big announcement.

Bytedance

• Some say the TikTok parent company is worth USD 250 billion https://www.bloomberg.com/news/articles/2021-03-30/bytedance-is-said-valued-at-250-billion-in-private-trades
• Or is it more? https://www.scmp.com/tech/big-tech/article/3128002/value-tiktok-maker-bytedance-approaches-us400-billion-new-investors
• What are they doing with this? Buying gaming companies to compete directly with Tencent https://www.reuters.com/article/us-bytedance-videogames-mooton-idUSKBN2BE0ES

IPOs

• Tencent-backed WeDoctor to IPO for $3bn USD in HK

https://kr-asia.com/key-stat-tencent-backed-online-hospital-wedoctor-files-for-ipo

• Xiaohong Shu, the sleeper review/e-commerce/social media app prepares for IPO 

https://technode.com/2021/03/26/social-commerce-app-xiaohongshu-hires-cfo-ahead-of-us-ipo/

Electric Cars

• Xiaomi announces plans to start producing EVs https://technode.com/2021/03/31/xiaomi-invests-1-5-billion-in-fully-owned-ev-business/
• And invest 10 billion over the next 10 years https://www.cnbc.com/2021/03/30/chinas-xiaomi-to-launch-electric-car-business-and-invest-10-billion.html
• Lei Jun's open letter https://kr-asia.com/a-letter-from-lei-jun-starting-over-one-last-time 
• China plans to phase out fossil fuel cars by 2035 https://www.weforum.org/agenda/2020/11/china-bans-fossil-fuel-vehicles-electric/#:~:text=By%202035%2C%20all%20new%20vehicles,remaining%2050%25%2C%20hybrid%20vehicles.