Will JD Logistics Become a New Type of Ecosystem? (Asia Tech Strategy – Podcast 71)
This week’s podcast is about JD Logistics. It’s an interesting case of a capability becoming a service business. And maybe a new type of ecosystem. …Read More »Will JD Logistics Become An Ecosystem? (2 of 2) (Asia Tech Strategy – Daily Update)
In Part 1, I described JD Logistics (JDL) as being three things. A unique capability that parent JD can leverage in its retail and marketplace …Read More »JD Logistics and the Dream of Smart, Automated Logistics at Scale (1 of 2) (Asia Tech Strategy – Daily Update)
I have been thinking about JD’s logistics operations for like 4 years. I visited a couple of their warehouses. I toured their robotics laboratory. And …Read More »How Coupang Is Building a Competitive Fortress in South Korea (Asia Tech Strategy – Podcast 70)
This week’s podcast is about the Coupang of South Korea. An interesting case of local dominance (geographic) based initially on competitive advantages on the cost …Read More »An Introduction to Coupang, the “Mini-JD of South Korea (Circa 2015)” (Asia Tech Strategy – Daily Update)
The latest big tech IPO out of Asia is Coupang, a likely $50B listing called the “Amazon of South Korea”. More on that annoying phrase …Read More »Great Strategy But Difficult Climbing at ZhongAn Online Insurance (Asia Tech Strategy – Daily Update)
Online insurance company ZhongAn was the first mover in “digital meets insurance” in China. A strategy Ant Financial would later refer to in its IPO …Read More »Why Revenue Scale and Operating Leverage Are Different for Software vs. AI. (Asia Tech Strategy – Podcast 69)
This week’s podcast is about revenue scale and operating leverage in traditional companies vs. software vs. AI. And these things can be really different. Especially …Read More »Monster Energy (MNST) and How Share of the Consumer Mind Reinforces Scale Economies (Asia Tech Strategy – Daily Update)
Last week, I wrote about how mindless behavior, chemistry and habits can be demand-side competitive advantages, which I put under the catch-all title of “share …Read More »Ant Group, Yiren Digital (YRD) and Marketplace Platforms for Lending (Asia Tech Strategy – Daily Update)
I’ve written a lot about Ant Financial (and its delayed IPO) because I think it is a cool example of a zero-human operation. It’s an …Read More »Is Roblox Going to Be the Next TikTok? Plus the Kuaishou IPO. (Asia Tech Strategy – Podcast 68)
This week’s podcast is about Roblox and the question of whether this media type will really take off. And I argue this is an interesting …Read More »Habits, Chemistry and Mindless Behavior As Competitive Advantages (Asia Tech Strategy – Daily Update)
I have talked a lot about competitive advantages on the demand side (sometimes called revenue advantages). These are structural advantages that enable premium pricing, repeat …Read More »ByteDance vs. Kuaishou: Innovator vs. Fast Follower Strategies for the China Attention Market (Asia Tech Strategy – Daily Update)
Kuaishou Technology is going public in Hong Kong. From the IPO filing, the basic story is that Kuaishou does short videos and live streaming. It’s …Read More »The 3 Effects of Network Effects. Plus So-Young’s Cool Marketplace. (Asia Tech Strategy – Podcast 67)
This week’s podcast is about network effects. And I argue they are actually three effects at the same time. Plus some stuff about So-Young’s marketplace …Read More »My 9 Investment Questions: Part 1 (Asia Tech Strategy – Daily Update)
I’ve been teaching a private equity class at CEIBS in Shanghai for like 5 years. I call it private equity but it’s really about how …Read More »Can Xiaomi’s Operational Excellence Compensate for a Weak Business Model? (Asia Tech Strategy – Daily Update)
In the last week of the Trump administration, Xiaomi was placed on the US Department of Defense blacklist for alleged ties to the Chinese military. …Read More »Pay Attention to the Potential Value of WeChat Mini Programs. (Asia Tech Strategy – Podcast 66)
This week’s podcast is about some of the bigger strategic initiatives at WeChat. Specifically mini programs, search, mini games and WeChat Work. You can …Read More »4 Take-Aways from WeChat Open Class 2021. Plus My Digital Competition Pyramid. (Asia Tech Strategy – Daily Update)
This week was the annual WeChat Open Class conference in Guangzhou. And one of the perks of being an influencer-type is I get invited to …Read More »Is So-Young International At Its Shopee Moment? (Asia Tech Strategy – Daily Update)
Shopee / Garena / Sea Limited (SE) was one of the biggest investment opportunities of 2020. With the share price rising 4x during the year. …Read More »The Difference Between Competitive Advantages and 7 Powers (Jeff’s Asia Tech Class – Podcast 65)
This week’s podcast is my third on the well-known 7 Powers framework by Hamilton Helmer. I go through the last 4 of his 7 …Read More »Are Line and Naver Durable? Can They Survive and/or Thrive Between the Digital Giants? (Jeff’s Asia Tech Class – Daily Update)
Korean Naver corporation is a confusing digital company. It’s great and it’s messed up. That makes it an interesting target for investing. There is the …Read More »Economies of Scale and Switching Costs According to 7 Powers (Jeff’s Asia Tech Class – Podcast 64)
This week’s podcast is more on the well-known 7 Powers framework by Hamilton Helmer. I go through three of his 7 powers. You can …Read More »How I Learned to Love SoftBank (Jeff’s Asia Tech Class – Daily Update)
It’s hard to write and speak about Asia tech without talking about SoftBank and its billionaire Chairman Masayoshi Son. He has been a major player …Read More »Introduction to Learning Platforms, Computer Vision and Megvii (Jeff’s Asia Tech Class – Daily Update)
I have listed 5 types of platform business models: Marketplace and transaction platforms (e.g., Taobao, Meituan, Lazada) Innovation and audience-builder platforms (e.g., YouTube, TikTok, Android) …Read More »4 Problems with Michael Porter’s Five Forces (Jeff’s Asia Tech Class – Podcast 63)
This week’s podcast is on the well-known Five Forces framework by Michael Porter. I go through some of its limitations and where I think …Read More »Waze, Google Maps and How Warren Buffett Made 50% on a Map Company (Jeff’s Asia Tech Class – Daily Update)
I’ve been thinking a lot about mapping companies. On one hand, they are typical “information goods” companies, most of which have had their economics turned …Read More »4 Strategy Lessons from the Spectacular Rise of Sea / Shopee / Garena (Jeff’s Asia Tech Class – Daily Update)
Singapore-based Sea Limited, which runs Garena, Shopee and AirPay, is one of the biggest tech investment stories of 2020. In the first quarter of 2020, …Read More »4 Problems with Hamilton Helmer’s 7 Powers (Jeff’s Asia Tech Class – Podcast 62)
This week’s podcast is on the well-known 7 Powers framework by Hamilton Helmer. I go through some of its limitations and where I think …Read More »Ruhnn Holding’s 3 Strategy Lessons for Digital Asia (Jeff’s Asia Tech Class – Daily Update)
Ruhnn Holding is a Chinese company that not many people follow. Based in Hangzhou, tied with Alibaba and vaguely described as a talent agency and/or …Read More »What Ant Financial Tells Us About the Future of Square. Plus, Why The External View Is So Hard in Digital. (Jeff’s Asia Tech Class – Podcast 61)
This week’s podcast is on Ant Financial vs. Square. And has an introduction to the inside vs. outside view and base rates. You can …Read More »What Ant Financial Tells Us About Square’s Future. (Jeff’s Asia Tech Class – Daily Update)
The market capitalization Square has exceed $100B, which makes it about 1/3 of what Ant Financial / Group was expected to list at (prior to …Read More »Is HTC a “Down But Not Out” Opportunity? (Jeff’s Asia Tech Class – Daily Update)
Taiwan-based HTC is fighting for its survival. Since 2015, the company has experienced a massive drop in its revenues. Falling from $4.3B (2015) to $355M …Read More »Tesla vs. Nio – And Why First Mover Advantage in Tech Can Suck. (Jeff’s Asia Tech Class – Podcast 60)
This week’s podcast is on Airbnb and what I think people are getting wrong about its business model and future in Asia. Which has …Read More »The Pros and Cons of Farfetch’s Global Luxury Marketplace (Jeff’s Asia Tech Class – Daily Update)
In my previous article on Farfetch, I asked the question of whether Alibaba or another Chinese company might buy the company – and at what …Read More »Is Alibaba (or Another Chinese Company) Going to Buy Farfetch? (Jeff’s Asia Tech Class – Daily Update)
Luxury marketplace platform Farfetch has had a long courtship with JD, Alibaba and Chinese consumers. In the next update, I’ll go into my thoughts on …Read More »Airbnb is Going to Get Crushed in Asia. Rethink Your Valuation. (Jeff’s Asia Tech Class – Podcast 59)
This week’s podcast is on Airbnb and what I think people are getting wrong about its business model and future in Asia. Which has …Read More »Airbnb’s Valuation Depends on Asia and Its Super-Apps (Jeff’s Asia Tech Class – Daily Update)
Airbnb is heading for its IPO. Their numbers are public and it’s pretty much what we expected. Airbnb is a simple marketplace platform that is …Read More »Introduction to Innovation, Elon Musk and Android’s Dominant Design. (Jeff’s Asia Tech Class – Podcast 58)
This week’s podcast is on innovation, which often is discussed in fuzzy terms. I present some of the better language used to discuss this …Read More »JD’s Emerging Competitive Advantages? (Jeff’s Asia Tech Class – Daily Lesson / Update)
Long-term investors search for high quality companies they can buy and hold. They ignore the near-term swings in stock prices and, instead, try to capture …Read More »Alibaba, Android and The Emerging Art of Ecosystem Management. (Jeff’s Asia Tech Class – Podcast 57)
This week’s podcast is more about the fuzzy idea of ecosystems, which I call the new collaboration-based business business models. We have clear frameworks …Read More »Forget the “Alibaba Ecosystem”. It’s About Collaboration-Based Industries and Business Models. (Jeff’s Asia Tech Class – Podcast 56)
Correction: I had Michael Jacobides’ name incorrect throughout this episode. My apologies. Podcasting while sick may not have been my best idea. This …Read More »Summary of Course Content – Draft
Hey. Here are the draft summaries of all the content. One slide for concepts. One slide for companies. The goal is to show how it …Read More »How Digital Creates and Destroys Competitive Advantage. Digital Economics II. (Jeff’s Asia Tech Class – Podcast 55)
This podcast is more about the strange but important economics of digital. And on how digital economics can impact well-established competitive advantages like economies …Read More »5 Trends That Will Power Digital China / Asia for the Next Decade (Jeff’s Asia Tech Class – Podcast 54)
These are my predictions for the biggest trends in digital China / Asia for 2020-2030. They are all underway already. And most of them …Read More »Digital Economics II: Why Pricing Is Getting Both Complicated and Critical. (Jeff’s Asia Tech Class – Podcast 53)
This podcast is more about the strange but important economics of digital. And on pricing, in particular. It is becoming increasingly complicated with bundling, …Read More »Why the Bytedance “Attention Factory” Is a Threat to Facebook (Jeff’s Asia Tech Class – Podcast 52)
Matthew Brennan has published: Attention Factory: The Story of TikTok and China’s ByteDance It’s a great read, with lots of interesting ideas about how …Read More »Prediction As a Competitive Advantage (Pt 1 of 2) (Jeff’s Asia Tech Class – Daily Lesson / Update)
In this class, I have used the terms digital and data technology interchangeably. And I have described them as things made of bits and bytes. …Read More »Jack Ma Finally Gets His Payday (Jeff’s Asia Tech Class – Daily Lesson / Update)
So Ant Group is getting ready to IPO and their filing has lots of interesting details about ownership and control. And the take-away is: Jack …Read More »The Fight Between Alibaba Cloud, AWS and Friedrich Hayek (Jeff’s Asia Tech Class – Podcast 51)
At Alibaba’s Investor Day, CEO Daniel Zhang outlined 11 growth stratgies. Five were under Alibaba Cloud (Aliyun). These are the early days of cloud …Read More »Cloud is the Big Unknown in Alibaba’s Growth (pt 2 of 2). (Jeff’s Asia Tech Class – Daily Lesson / Update)
This is Part 2 of two articles on Alibaba Investors Day. In Part 1 (Dissecting Alibaba’s 11 Growth Strategies), I wrote about their 5 growth …Read More »What is Alibaba’s Best Growth Strategy? (Jeff’s Asia Tech Class – Podcast 50)
At Alibaba’s Investor Day, CEO Daniel Zhang outlined 11 growth stratgies. Five were under Domestic Consumption. The question for this class is which is …Read More »Dissecting Alibaba’s 11 Growth Strategies. From Investor Day 2020 (pt 1 of 2). (Jeff’s Asia Tech Class – Daily Lesson / Update)
So Alibaba Investor Day was this week. Actually it was three days. And there were lots of presentations and publications. But people generally want to …Read More »Ant Financial and the Sustained Innovation Trap of Network Effects (3 of 3) (Jeff’s Asia Tech Class – Podcast 49)
This is Part 3 in a three part series about Ant Group / Ant Financial. In this part, I talk about how sustained innovation …Read More »Ant Financial and the “Sustained Innovation Trap” of Network Effects (Jeff’s Asia Tech Class – Daily Lesson / Update)
In Podcast 41, I talked about 3 ways network effects suck. They do have some major problems. And these are not discussed as much as …Read More »Adaptation, Innovation and Resilience at Alibaba. A Discussion with BCG’s Martin Reeves. (2 of 3) (Jeff’s Asia Tech Class – Podcast 48)
This is Part 2 in a three part series about Alibaba and Ant Group. The focus was on Alibaba’s ability to continually adapt to …Read More »How Ant Financial / Ant Group is Revolutionizing Finance (1 of 3) (Jeff’s Asia Tech Class – Podcast 47)
This is Part 1 in a three part series about Ant Group. And my basic argument is Ant is well positioned to disrupt and potentially …Read More »Cocos, Gaming and an Introduction to Ecosystem Competition (Jeff’s Asia Tech Class – Daily Lesson / Update)
Last week, I wrote about Epic Games and the potentially large disruption coming from gaming engines. That article is below. How Epic Games and Game …Read More »What is the Secret of Pinduoduo’s Success? (2 of 2) (Jeff’s Asia Tech Class – Podcast 46)
This is Part 2 about Pinduoduo and the idea of interactive / engagement-driven ecommerce. In Part 1, I discussed a recent whitepaper with its …Read More »Ant Financial’s Big Money is in Asset-Light Credit Tech (Jeff’s Asia Tech Class – Daily Lesson / Update)
Ant Financial (now Ant Group) has filed for IPO and there are tons of cool insights in their filing document. I’ve already written about the …Read More »Ant Financial Is 3 Platform Business Models Combined. (Jeff’s Asia Tech Class – Daily Lesson / Update)
The IPO filing I have been waiting two years for finally arrived. Alipay / Ant Financial (now called Ant Group) has filed. And their +600 …Read More »What is the Secret of Pinduoduo’s Success? With Matthew Brennan and Elliott Zaagman. (1 of 2) (Jeff’s Asia Tech Class – Podcast 45)
This is Part 1 about Pinduoduo and the idea of interactive / engagement-driven ecommerce. Our guests for this podcast were Matthew Brennan and Elliott …Read More »How Epic Games and Game Engines Are Disrupting Media / Entertainment. (Jeff’s Asia Tech Class – Daily Lesson / Update)
The following link is to a 6 Part Primer for Epic Games by Michael Ball. Michael is a highly regarded thinker on US media and …Read More »Can Xiaomi or Meitu Win as Platforms / Ecosystems? (2 of 2) (Jeff’s Asia Tech Class – Podcast 44)
This is part 2 about Xiaomi, Meitu and 7 reasons why platforms / ecosystems succeed or fail. Part 1 is here. You can listen …Read More »Can TikTok Be Copied? Innovators vs. Imitators. (Jeff’s Asia Tech Class – Daily Lesson / Update)
There was a good article this week in Insead Knowledge by Jason Davis and Vikas Aggarwal. What I liked about it was the below question …Read More »Xiaomi, Meitu and Why Platforms Fail (1 of 2) (Jeff’s Asia Tech Class – Podcast 43)
In this class, I talk about why platforms fail and do an introduction to ecosystems vs. platforms. You can listen here or at iTunes, …Read More »7 Reasons Digital Platforms Fail (Jeff’s Asia Tech Class – Daily Lesson / Update)
There was a great article by the Boston Consulting Group. Some really well-thought out points. Here are some excerpts. I have added the bold and …Read More »Tencent Buys Sogou. Plus More Digital and Information Economics (Jeff’s Asia Tech Class – Podcast 42)
In this class, I talk Tencent’s recent purchase of Sogou. And go through more digital and information economics. You can listen here or at iTunes, …Read More »3 Ways Network Effects Suck (Jeff’s Asia Tech Class – Podcast 41)
In this class, I talk about network effects. And some of their strengths and weaknesses. You can listen here or at iTunes, Google Podcasts and …Read More »Why Lazada vs. Shopee Is Faster Horse vs. Better Jockey (Jeff’s Asia Tech Class – Podcast 40)
In this class, I talk how to fairly basic platform business models (Shopee, Lazada) compete. As the capabiltiies and strategies are similar this is …Read More »Lazada vs. Shopee is Faster Horse vs. Better Jockey (Jeff’s Asia Tech Class – Daily Lesson / Update)
There have been numerous press reports about Shopee surpassing Lazada in parts of Southeast Asia, especially Vietnam. But these are mostly using monthly active users, …Read More »Learning Goals: Level 7
You have completed Level 6. And you are now at Level 7. All concepts are in the Content Library, where you can see my overall …Read More »What TikTok Can Learn From Huawei About the Role of the State (Jeff’s Asia Tech Class – Podcast 39)
In this class, I talk about the role of the state as a key factor in certain industries and countries. This tends to be …Read More »Will Farfetch or Secoo Win in Luxury Ecommerce in China? (Jeff’s Asia Tech Class – Podcast 38)
In this class, I talk about the difficulty of moving luxury into ecommerce. And how Chinese consumers will likely determine who finally cracks this problem. …Read More »Chinese Ecommerce Is Quietly Going Global (Jeff’s Asia Tech Class – Daily Lesson / Update)
China’s cross-border ecommerce business doesn’t get a lot of attention. It seems peripheral to China ecommerce. There are a lot of logistics, taxes and customs …Read More »Learning Goals: Level 6
You have completed Level 5. For Level 6, there are 5 learning goals. All concepts are in the Content Library, where you can see my …Read More »Learning Goals: Level 5
You have completed Level 4. Congratulations. And welcome to Level 5. For Level 5, there are 5 learning goals. All concepts are in the …Read More »Alibaba Launches a Horizontal Attack on Education; Mutual Aid Finally Cracks Digital Health (Jeff’s Asia Tech Class – Daily Lesson / Update)
There was a fascinating announcement from Alibaba. From CX Tech: “E-Commerce Giant Taobao Steps Into China’s Online Education Market” “Taobao, an e-commerce platform owned by …Read More »Companies Can Have Digital Superpowers: Lazada vs. Grab. Luckin vs. Hellobike. (Jeff’s Asia Tech Class – Podcast 37)
In this class, we go through 6 digital superpowers, which is a simple high-level checklist for when digital tools can significantly change the competitive …Read More »WeChat, TikTok and Capturing the Consumer Mind in a Digital Age (Jeff’s Asia Tech Class – Podcast 36)
In this class, I talk about the share of the consumer mind as a revenue competitive advantage. And how companies like WeChat and TikTok …Read More »How Should Education Companies Like New Oriental Respond to AI Digital Natives Like LAIX? (Jeff’s Asia Tech Class – Podcast 35)
In this class, I go into the how digital native education companies like LAIX are challenging traditional companies like New Oriental. You can listen here …Read More »Facebook Is the Wild Card of Asia Ecommerce (Jeff’s Asia Tech Class – Daily Lesson / Update)
In 2019, Mark Zuckerberg released a memo on “privacy-focused messaging and social networking” – and charted a new direction for Facebook. The memo had some …Read More »How AI Can Make You Really Dumb (Jeff’s Asia Tech Class – Daily Lesson / Update)
I’ve sent out three Daily Lessons recently with various AI use cases. Products with Personalities? My Interview with JD About Conversational AI 3 Ways AI …Read More »Huawei, Luckin and the SMILE Marathon (Jeff’s Asia Tech Class – Podcast 34)
In this class, I go into the increasing dimensions of operational marathons. I call these the SMILE marathon. You can listen here or at …Read More »3 Ways AI Is Transforming Fashion: My Interview with JD Vice President of Cloud & AI (Jeff’s Asia Tech Class – Podcast 33)
In this class, I talk about ways AI and cheap prediction are being used in fashion and apparel. From my interview with Dr. Tao Mei, …Read More »Grab vs. GoJek vs. Lazada: Who Will Win in Services in SE Asia? (Jeff’s Asia Tech Class – Podcast 32)
In this class, I go through some of the basics of Grab, GoJek and Lazada. And the different approaches for capturing local services in …Read More »The Next Big Trends in Chinese E-Commerce (Jeff’s Asia Tech Class – Daily Lesson / Update)
There was an interesting report about China ecommerce trends released by Coresight Research, which specializes in retail meets tech consulting. It’s run by Deborah Weinswig, …Read More »Products with Personalities? My Interview with JD About Conversational AI (Jeff’s Asia Tech Class – Podcast 31)
In this class, I talk about my interview with He Xiaodong of JD. And about how chatbots are evolving into conversational AI. Plus the …Read More »Why Steve Jobs Chose China, Why Huya Is Worth Watching (Jeff’s Asia Tech Class – Daily Lesson / Update)
A couple of topics for today’s lesson / update. Why Steve Jobs Chose China for the Assembly of the iPhone In my One Hour China …Read More »6 Predictions for Huawei After the TSMC Ban (Jeff’s Asia Tech Class – Daily Lesson / Update)
The big digital China / Asia news this week was the expansion of the US entity list ban to include TSMC. In theory, Huawei cannot …Read More »Should Starbucks Buy Luckin Coffee? Should Alibaba? HeyTea? (Jeff’s Asia Tech Class – Podcast 30)
In this class, I talk about what can be done with Luckin Coffee post-scandal. Should another company or investor buy it? You can listen …Read More »The Arms Race for Attention, Engagement and Spending (Jeff’s Asia Tech Class – Daily Lesson / Update)
In this week’s podcast (Can Shopee / Garena Beat Lazada? Tencent vs. Alibaba In SE Asia. (Podcast 29)), I teed up the idea of an …Read More »Can Shopee / Garena Beat Lazada? Tencent vs. Alibaba In SE Asia. (Jeff’s Asia Tech Class – Podcast 29)
In this class, I talk about Shopee (ecommerce) and Garena (online gaming) in SE Asia – and the complementary platform businesses Sea Limited is …Read More »How Big Will Ant Financial / Alipay Become? (Jeff’s Asia Tech Class – Podcast 28)
In this class, I talk about Ant Financial/Alipay, AI factories and the basics of payment platforms. You can listen here or at iTunes, Google …Read More »A Simple Framework for How Digital Evolves Over Time. It’s Really Cool.
Here’s a simple framework for how digital can evolve over time. Some of this thinking is from Competing in the Age of AI. Some is …Read More »How Can Meituan Compete with Alibaba? And Prepare for Next Gen Services Marketplaces? (Jeff’s Asia Tech Class – Podcast 27)
In this class, I talk about Meituan and the evolution toward more advanced types of services marketplaces. You can listen here or at iTunes, …Read More »What Drives M&A in Digital China? (Jeff’s Asia Tech Class – Daily Lesson / Update)
Most of this course has been about strategy. Well, the intersection of strategy and digital. Basically, Michael Porter meets Jack Ma. But an important part …Read More »Is Baidu the New AT&T? The Basics of Physical vs. Virtual Networks. (Jeff’s Asia Tech Class – Podcast 26)
In this class, I talk about networks vs. ecosystems. And how networks have evolved from physical to virtual / digital. You can listen here or …Read More »Alipay’s Horizontal Attack on Meituan (Daily Update – Jeff’s Asia Tech Class)
One of the big digital China / Asia stories of 2019-2020 has been the movement of Alipay into services. And I don’t think people have …Read More »Alibaba to Lazada: The Stunning Future of Interconnected Asia (Jeff’s Asia Tech Class – Podcast 25)
In this class, I talk about Lazada, the SE Asia ecommerce champion. And about how Asia is both at scale and increasingly interconnected. You …Read More »Ctrip and Hospitality’s Big Balance Sheet Challenge (Daily Update – Jeff’s Asia Tech Class)
Ctrip has forecast its revenues will drop 45-50% in first quarter. From KrAsia: Coronavirus spurs somber outlook for online travel companies Chinese major online travel …Read More »My Interview With Huawei About Their 2019 Financials. Plus Fraud at Luckin Coffee. (Jeff’s Asia Tech Class – Podcast 24)
In this class, I talk about my interview with Huawei about their 2019 financial results. And a bit about the disclosure of fraud at …Read More »