China, every mention
201 scenes · ← back to China
tap a year for its mentions
every year anyone David Rosenthal 83Ben Gilbert 63Howard Schultz 11Anthony Gonzalez 9Charlie Munger 8Ben Thompson 7Doug DeMuro 4Morris Chang 3John Bathgate 3Mitch Lasky 2
Verbatim, from the transcripts: the passages where China comes up
Visa (Audio) · Acquired
- ▶ 3:23:22 Ben Gilbert There's actually this really interesting weird deal that got cut between China UnionPay and Visa, where if you use a cup card in China, CUP, it uses the CUP rails, but if you go internationally where, like, there is no China UnionPay…
- ▶ 3:23:42 Ben Gilbert But they sort of have the national security benefit and the economic benefit of four people in China transacting in China that runs on China-owned payment rails.
- ▶ 3:23:55 David Rosenthal China in and of itself, and could other governments around the world start adopting similar postures?
Charlie Munger (Audio) · Acquired
- ▶ 21:52 Charlie Munger And people like China have these enormous reserves of dollars.
- ▶ 43:55 unnamed speaker Would you continue investing in China?
- ▶ 44:00 Charlie Munger Paul Jay Well, my position in China has been Well, that the Chinese economy has better future prospects over the next 20 years than almost any other big economy.
- ▶ 44:14 Charlie Munger Number two, the leading companies of China are stronger and better than practically any other
- ▶ 44:26 Charlie Munger So naturally, I'm willing to have some China risk in the Munger portfolio.
- ▶ 44:32 Charlie Munger How much China risk?
- ▶ 51:05 David Rosenthal You mentioned China earlier.
- ▶ 51:07 David Rosenthal Was it 12 to 20 years that Costco had the license to operate in China?
- ▶ 51:13 Charlie Munger The first store they tried to open in China, the first store somebody wanted a 30,000 dollar bribe.
- ▶ 51:22 Charlie Munger You know, Chinese culture.
- ▶ 51:29 Charlie Munger He wouldn't even talk to him going into China for about 30 years thereafter.
- ▶ 51:42 Ben Gilbert Yeah, who on the board could be excited about the Chinese market?
- ▶ 53:05 Ben Gilbert A thing that I've never fully understood, I know you're a big fan of the company BYD, that of course makes the, the Chinese company that makes batteries and electric vehicles.
Doug Demuro on Analyzing the Car Industry, Creator-Led Businesses, and Porsche Follow Up (Raw Video) · Acquired
- ▶ 1:08:17 Doug DeMuro The Enclave is better, but the Encore is, there's also one called the Envision, which is made in China.
- ▶ 1:08:23 Doug DeMuro There are not a lot of Chinese made cars in America, but the Envision is.
Nvidia Part III: The Dawn of the AI Era (2022-2023) (Audio) · Acquired
- ▶ 1:48:25 David Rosenthal So, the other sort of illustrative thing for me that shows how wide their lead is, we haven't talked about China yet.
- ▶ 1:48:37 David Rosenthal Last year, China was 25%, or sales to mainland China, was 25% of NVIDIA's revenue.
- ▶ 1:48:49 David Rosenthal China.
- ▶ 1:49:31 David Rosenthal As part of that, NVIDIA can no longer sell their top-of-the-line H-one hundreds or A-one hundreds to anybody in China.
- ▶ 1:50:09 David Rosenthal The incredibly telling thing is that those chips and those machines are still selling like hotcakes in China.
- ▶ 1:50:16 David Rosenthal They're still the best hardware and platform that you can get in China, even a crippled version.
- ▶ 1:50:25 Ben Gilbert And there's been a, even a more recent spike of them because a lot of Chinese companies are reading the tea leaves and saying, ooh, export controls might get even more severe, so I should
- ▶ 2:36:44 David Rosenthal There's probably also a bear case around China, which is a legitimate one, because that's gonna be a problem for lots of people.
- ▶ 2:36:59 David Rosenthal Like, obviously, China is racing to develop their own homegrown ecosystems and competitors, and like, that's gonna be a closed-off market.
Costco (Audio) · Acquired
- ▶ 1:38:17 David Rosenthal So first they go to the UK, then they go to Korea, to Taiwan, to Japan, ultimately China, which is now a big initiative for them.
- ▶ 2:43:49 Ben Gilbert In particular, China.
- ▶ 2:44:00 Ben Gilbert The first store in China opened in twenty-nineteen, which popped to 400,000 members within two years.
- ▶ 2:44:10 David Rosenthal China.
- ▶ 2:44:14 David Rosenthal Every 10 minutes in those episodes, we'd just be like, China.
- ▶ 2:44:26 Ben Gilbert So, there's gonna be six stores in China within the next year, and all indicators are that this concept performs just as well, if not better, than it does in the US.
- ▶ 2:44:39 Ben Gilbert And they've been very deliberate about the China strategy,
Nike (Audio) · Acquired
- ▶ 1:43:08 David Rosenthal So Phil and a bunch of the management team starts flying around Asia, they go to Taiwan, they go to South Korea, ultimately they go to China, they go to Indonesia, they go to Vietnam.
- ▶ 1:43:27 David Rosenthal Then the big move is into China, both in terms of production and for selling.
- ▶ 1:43:34 David Rosenthal When he's on the trip around the world in 1963 that he, like, peers into China from Hong Kong and is dreaming about two billion feet in China, uh, Nike would be one of the very first companies, and I think the first footwear company that…
- ▶ 3:54:39 Ben Gilbert Big slowdown in China, not just them, but all the big brands.
- ▶ 3:54:50 Ben Gilbert And so, you know, the China market is a huge, important set of consumers to Nike.
- ▶ 3:54:55 Ben Gilbert So I think them figuring out, especially how their social justice stances fit in with the CCP controlled China, that's a huge open question.
Porsche (with Doug DeMuro) · Acquired
- ▶ 56:13 David Rosenthal China is why they make that car, but we'll, we'll get to that later.
- ▶ 2:10:26 David Rosenthal And China was starting to take off at this time, too.
- ▶ 2:10:48 David Rosenthal Um, I think from doing the research now, I think a large part of the intention of it was to really target the China market, and it became successful globally, too.
- ▶ 2:11:01 David Rosenthal But I think the Panamera and the Cayenne, too, really helped Porsche enter China.
- ▶ 2:27:01 David Rosenthal A big part of that is the investment in China.
- ▶ 2:27:04 David Rosenthal Uh, and China starts really, really growing through the early 20 tens for Porsche.
- ▶ 2:34:47 David Rosenthal Both in the America and China.
- ▶ 2:43:59 Ben Gilbert China is, as Porsche would account for it, their largest market.
- ▶ 2:44:04 Ben Gilbert But the reason that I put that caveat in there, because it's at 26% is, is China, they split out Germany from Europe and call them two different regions, so they have Germany.
- ▶ 2:44:24 Ben Gilbert So, you know, it's, all of Europe together would be bigger than China, but Germans.
- ▶ 2:44:33 Doug DeMuro There's almost no, because there's no heritage Porsche in China.
- ▶ 2:44:40 Doug DeMuro And so, like, they don't, like, it's almost none of the sports car sales in China.
- ▶ 2:45:03 Ben Gilbert North America is very close to China.
Lockheed Martin (Audio) · Acquired
- ▶ 38:04 David Rosenthal So the first thing, it's funny, it's kind of in the news now that China's doing this now.
Benchmark’s Mitch Lasky and Blake Robbins on The Art of Business in Gaming · Acquired
- ▶ 46:34 Mitch Lasky They did, they aggregated third-party product from as a pathway into China because you needed a local partner because of government regulation in order to publish in China, and they just ran with that, right?
- ▶ 59:25 Mitch Lasky And he rose to the occasion and just built an amazing forever game, and that thing is now, I mean, it was, you know, in the fall, the number four grossing game in China by revenue.
- ▶ 1:07:20 Blake Robbins Uh, and so they never, they never built a mobile game for it, and then there's this, these three guys in, in Finland made a, a, basically the same exact game, uh, pushed it on mobile, it's called StumbleGuys, and then it gets acquired by,…
Sessions: David Senra (Founders Podcast) · Acquired
- ▶ 2:48:47 David Senra So like, he's like sold two million cars in China.
Stratechery (with Ben Thompson) · Acquired
- ▶ 1:11:23 Ben Thompson I think it's a important topic, understanding China.
- ▶ 1:11:39 Ben Thompson But I think for a lot of folks, it's like, well, I keep hearing lots of news from China.
- ▶ 1:38:52 Ben Thompson I don't think it's a hedgeable risk, the China risk.
- ▶ 1:39:35 Ben Thompson I think they're 28 nanometer fabs, which is really where China is making a lot of progress because there's no real economic reason to build trailing edge fabs.
- ▶ 1:39:59 Ben Thompson I mean, the reality is that's why China's filling the gap, because that's all they can really make economically.
- ▶ 1:40:05 Ben Thompson You have to sort of build your way up, and so China has a motivation and an economic rationale, and a lot of the chips that they're manufacturing go right into products that are already made in China,
- ▶ 1:40:15 Ben Thompson and so they're filling in that gap.
Qualcomm · Acquired
- ▶ 1:33:37 David Rosenthal Either a hundred percent massive market share in China, which is adopting, you know, mobile for the first time, and like, this is so much, so the first, 1995 is the first year that these networks go live in the US and internationally.
- ▶ 1:46:51 Ben Gilbert So they have a licensing dispute with China.
- ▶ 2:07:52 Ben Gilbert The other thing that happened in 2016 to 2018, uh, Qualcomm tried to acquire NXP semiconductors, but I think eventually China sort of just, like, dragged their feet enough to kill that.
- ▶ 2:14:29 Ben Gilbert I mean, we didn't talk about this, but like China, South Korea, EU, Taiwan, all these companies, all these nations have sued or restricted.
Benchmark Part I · Acquired
- ▶ 2:01:00 David Rosenthal Yes, there was someone who could make a call who could say, I'm taking time, as Doug talked about on our episode with him, Mike and I are taking time, we are going to travel to China, and we are going to go find the right partners for us…
Amazon Web Services · Acquired
- ▶ 1:58:11 David Rosenthal They're the dominant player in China, which that's an interesting story in and of itself that similar to Amazon, like it was Alibaba.
- ▶ 1:58:19 David Rosenthal That became the dominant cloud player in China.
From NFL to Startup COO to Congressman Regulating Crypto (with Rep. Anthony Gonzalez) · Acquired
- ▶ 1:14:56 Anthony Gonzalez I've done a ton of China work, and that was like the bulk of my first year in Congress, was
- ▶ 1:15:01 Anthony Gonzalez Doing things to fix our international financial institutions like the World Bank and the IMF, which had been largely overrun by China.
- ▶ 1:15:12 Anthony Gonzalez But the areas I focus the most on, China, cap markets.
- ▶ 1:28:14 David Rosenthal Well, speaking of opportunity in America, let's talk about science, space, and technology and, and kind of, you know, American dynamism in Catherine Boyle's terms, you know, you mentioned China competitiveness that you were involved in…
- ▶ 1:31:15 Anthony Gonzalez But compare that to the alternative, which is sort of authoritarianism and Chinese communism and the sort of divides there.
- ▶ 1:31:28 Anthony Gonzalez And so when I see people tear down our democracy, whether it's again, right or left, I think that's a dead giveaway to China.
- ▶ 1:31:37 Anthony Gonzalez It emboldens the Russias and the Chinas of the world.
- ▶ 1:42:01 Anthony Gonzalez But, you know, in this world where I believe it's us versus China and Russia, and sort of US values, norms, and ideas, versus the Chinese Communist Party values and ideas, I want as many critical technologies and supply chains domestic or…
- ▶ 1:42:41 Anthony Gonzalez And by the way, like, if China moves on Taiwan, that's a big problem for us, especially if we have a national security issue.
- ▶ 1:43:19 Anthony Gonzalez Not all, but most, and certainly China.
- ▶ 1:43:55 Ben Gilbert Well, China does way more pollution to make cheaper steel of the same quality, and I know those things aren't necessarily true, but let's just assume that it's a clean boxed problem.
Walmart · Acquired
- ▶ 2:50:18 Ben Gilbert At some point the majority of items sold in Walmart were made in China.
Altimeter (with Brad Gerstner) · Acquired
- ▶ 1:46:12 Brad Gerstner Whether it's, you know, Jammin talking about what's going on in, you know, in software, or whether it's Vivek talking about what's going on in, you know, internet marketplaces, or crypto, or Frida talking about what's going on in China.
SONY (75 years of electronics history in 3 hours) · Acquired
- ▶ 10:01 David Rosenthal I mean, heck, they picked a fight with China who has a lot more people.
- ▶ 1:23:31 David Rosenthal They eventually add the Philippines, Taiwan, and China, and it's active in all of those places today.
- ▶ 2:45:56 David Rosenthal So successfully, like same thing in Korea, you know, after it came, you know, right on the heels of the journey of made in Japan from low quality to high quality, same thing in Korea, and then the same thing in China and like an even…
Complexity Investing & Semiconductors with NZS Capital (Extended Cut) · Acquired
- ▶ 4:58 David Rosenthal Do you look to folks in China like Meituan or like Grab in Southeast Asia as inspiration, or was this a vision that came homegrown in Brazil?
- ▶ 1:20:02 David Rosenthal There's like no fault we can find in this except that, you know, China might want to like, you know, take over the land that they sit on.
- ▶ 1:20:20 John Bathgate Like, what do you think about China invading your country?
- ▶ 1:20:42 John Bathgate I actually think it would be painful for everyone that, you know, loves iMessage and FaceTime, but like, it really would not be as big of a deal versus if, if for some reason, you know, China moved to, um, to seize Taiwan or however, you…
- ▶ 1:25:29 John Bathgate So I guess, like, the full circle question or answer to your question on, like, how we even incorporate the geopolitical risk on, on TSMC is, I mean, I guess it'll never be our, like, a 10% position for, for that reason, um, as there is…
- ▶ 1:27:18 David Rosenthal There's also, I guess, owning, uh, China tech companies.
- ▶ 1:27:22 David Rosenthal I mean, this is a question, like, if all this is really going down, like, uh, I don't think China is.
- ▶ 1:27:33 David Rosenthal Uh, do, do you guys, um, do, do you have any China tech position, you know, Tencent or, or others, or?
- ▶ 1:27:41 Brinton Johns We've owned China tech for a long time, but when we put this portfolio together at the end of twenty-nineteen, uh, it just looked, uh,
- ▶ 1:27:52 Brinton Johns And so we, we own zero, zero China tech.
Standard Oil Part II (Extended Cut) · Acquired
- ▶ 2:16:30 David Rosenthal Which I think is the argument that is at least so far kind of carried the day in terms of what's actually happened with big tech, at least in America, not in China, but in America of, um, you know, gosh, these are like big hammers and you…
Standard Oil Part I · Acquired
- ▶ 2:24:34 David Rosenthal This really, like, this makes me think about, uh, China and what's going on in China right now.