![]() Why does that matter? For all of their faults, most of our social networks have been run by people who have built up institutional memory about their companies’ past mistakes and the unintended consequences of their actions. One exception is Reddit, which has had two non-founder CEOs, but their stints were fairly brief, and the company has mostly stayed in the hands of co-founders Steve Huffman and Alexis Ohanian. But even he had at least been COO for a while first. Twitter’s been led by mostly founders - Ev Williams, then Jack Dorsey - save for a brief spell when Dick Costolo ran it. Susan Wojcicki didn’t start YouTube, but she was an early Googler and oversaw its purchase of the video site before becoming the YouTube CEO. Mark Zuckerberg still has a stranglehold on Meta. social media platform is run by someone who wasn’t there when it all began. If he does, it’ll be one of the rare times a major U.S. Speaking of who Musk has in mind to replace Twitter’s leadership team, Musk is reportedly planning to take on the CEO role himself. No doubt Musk has some people in mind that he likes for the roles, but those people will inevitably face a learning curve - and global regulators have long since run out of patience with social platforms. He lives in San Francisco with his wife Diane and his puppy, Luna. David is a Senior Fellow at the Foreign Policy Research Institute, a Research Associate at the University of Pennsylvania's Center for the Study of Contemporary China, a Member of the National Committee on U.S.-China Relations, and a Truman National Security fellow. ![]() In 2019, David joined Protocol's parent company and in 2020, launched POLITICO's widely-read China Watcher. Thereafter, he was Entrepreneur in Residence at the Lenfest Institute for Journalism, which owns the Philadelphia Inquirer. David then served as Senior Editor for China at Foreign Policy magazine, where he launched the first Chinese-language articles in the publication's history. After four years working on international deals for top law firms in New York and Hong Kong, David co-founded Tea Leaf Nation, a website that tracked Chinese social media, later selling it to the Washington Post Company. He also hosts POLITICO's China Watcher newsletter. David is a widely cited China expert with twenty years' experience who has served as a Peace Corps Volunteer in China, founded and sold a media company, and worked in senior positions within multiple newsrooms. IPOs due to regulatory pressure include fitness tech company Keep, medical data company LinkDoc Technology and podcasting platform Ximalaya FM.ĭavid Wertime is Protocol China's former executive director. Following DiDi's market debut, the Cyberspace Administration of China began an investigation into its data security and ordered it to halt new user registrations in China.Īccording to reporting by the Financial Times, other Chinese tech companies who have delayed, reconsidered or canceled U.S. The firm, worth at least $180 billion per a recent funding round, was mulling an offering in the United States or Hong Kong but paused after Chinese officials asked the company to look into data security risks, the Journal reports.īyteDance's path offers a marked contrast with ride-hailing giant DiDi, which reportedly went ahead with an IPO on the New York Stock Exchange in early July after being urged by the country's Cyberspace Administration not to proceed. Its investors include Alibaba Health Information Technology Ltd, MBK Partners, New Enterprise Associates and Temasek Holdings Pte, a preliminary filing showed.Ĭhinese companies have raised about US$13 billion through first-time share sales in the US this year, Bloomberg data showed.ĭidi’s IPO was the second largest US listing by a Chinese firm on record, after Alibaba Group Holding Ltd’s (阿里巴巴) US$25 billion blockbuster debut in 2014.According to reporting from The Wall Street Journal, Chinese tech giant ByteDance decided to delay its much-anticipated IPO earlier this year at the urging of regulators in Beijing. LinkDoc, founded in 2014, provides cancer-focused healthcare services built on big data and artificial intelligence, its Web site shows. Reuters reported LinkDoc’s IPO halt earlier yesterday.Ī representative for LinkDoc declined to comment. LinkDoc’s IPO delay also comes as Chinese regulators are planning rule changes that would allow them to block a Chinese company from listing overseas even if the unit selling shares is incorporated outside China, closing a loophole long-used by the country’s technology giants, Bloomberg News reported this week. Shares of Didi Global Inc plunged after the government ordered the removal of the ride-hailing giant’s app from local app stores within days of its US$4.4 billion US IPO.
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