Sequoia VC: West Is In Denial Over Shift In Tech Power To China
It’s interesting to see Sequoia Capital venture investor Mike Moritz contending that Silicon Valley tech is over-inflated while China startup investing is still going strong — and stronger. Here’s an excerpt from an interview with Moritz in an article at Fortune.
Moritz argued that money splashed on Silicon Valley companies could probably be put to better use in China, which he described as “the most vibrant setting for start-ups in the world.”
Seven of the world’s 20 most valuable startups are Chinese-based, he said, including mobile phone maker Xiaomi, the most valuable of all with a $46 billion price tag after its latest round of financing.
“Everybody in the west is in denial” about China’s increasing tech strength, Moritz said. “The balance of power is shifting.”