> Last October, the central government released a guidance pushing for the “high-quality development” of vocational education, which prioritizes training in areas such as advanced manufacturing and alternative sources of energy. In this new era, the government’s ideal young graduates aren’t joining hedge funds, flipping properties, or listing metaverse-related startups; they work in what Wang calls “the physical world” and proceed to “make babies, make steel, and make semiconductors.”
> In response, the tech giants, from Tencent to Alibaba, have done things like set up common-prosperity funds: multi-billion-dollar pledges toward “high-quality growth” initiatives, such as revitalizing rural villages and improving gig-worker welfare. In 2020, Jack Ma fell from the Party’s good graces, and found his influence curtailed and the I.P.O. of an Alibaba affiliate company suspended. Afterward, he embarked on an overseas trip, to Spain—to study farming technology.
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[ 2.8 ms ] story [ 14.9 ms ] threadI thought the most interesting excerpt was:
> Last October, the central government released a guidance pushing for the “high-quality development” of vocational education, which prioritizes training in areas such as advanced manufacturing and alternative sources of energy. In this new era, the government’s ideal young graduates aren’t joining hedge funds, flipping properties, or listing metaverse-related startups; they work in what Wang calls “the physical world” and proceed to “make babies, make steel, and make semiconductors.”
> In response, the tech giants, from Tencent to Alibaba, have done things like set up common-prosperity funds: multi-billion-dollar pledges toward “high-quality growth” initiatives, such as revitalizing rural villages and improving gig-worker welfare. In 2020, Jack Ma fell from the Party’s good graces, and found his influence curtailed and the I.P.O. of an Alibaba affiliate company suspended. Afterward, he embarked on an overseas trip, to Spain—to study farming technology.