Luckin Coffee Is a Fraud? Why Nobody Is Surprised. (Daily Update – Jeff’s Asia Tech Class)

The big news yesterday was that Luckin Coffee has disclosed an internal investigation into fabricated sales for 2019. From CNBC: Luckin Coffee disclosed Thursday that an internal investigation has found that its chief operating officer fabricated 2019 sales by about 2.2 billion yuan ($310 million).Shares cratered more than 80% in premarket trading after the release […]

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From Didi to Mobike to Luckin: How Money and Hype Are Distorting Digital China

Digital China has arrived. It has unicorns, huge market opportunities and a pervasive cultural impact. Everything is now at world-class scale. Unfortunately, the distorting impact of hot money and hype has also scaled up. And this appears to be increasing. But first…consider joining my executive education course Jeff’s Asia Tech Class for deeper insights into […]