Tech Investor Draper Sours on China, Says It Has Left the Free Market – U.S News & World Report Money
Reuters
TAIPEI (Reuters) – China is no longer a place to invest and has left “the free market” under President Xi Jinping, said U.S. venture capitalist Tim Draper, an early investor in Elon Musk’s Tesla and SpaceX.
Draper was also an early and prominent investor in Chinese search engine Baidu Inc, but he is now turning his attention to Taiwan, home to companies such as TSMC, the world’s largest contract chipmaker.
“I used to be an investor in China,” he told Reuters late on Monday after arriving in Taipei.
“Then I got an early indication that China was going to leave the free market and I decided that that was not a place I wanted to invest,” Draper said, without elaborating.
He said he is looking for more opportunities in the space sector, visiting Taiwan’s space programme on Monday night in the tech hub of Hsinchu.
Draper, whose reality TV show “Meet the Drapers” just finished its fifth season, said Taiwan was a natural place to look for investments especially given the stumbling…
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source: https://news.oneseocompany.com/2022/11/15/tech-investor-draper-sours-on-china-says-it-has-left-the-free-market-us-news-world-report-money_2022111535759.html
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