FANGs v BATs in One Bite
[Opinion] A big takeaway from this earnings season is the disparity between US and Chinese OG internet companies
Good Morning from Taipei,
Baidu reported earnings late Thursday, bringing to a close earnings season for the bulk of US and Chinese technology companies.
AI was the hot topic across the board, from the chip designers and manufacturers to the cloud-service providers and internet companies.
One thing that stood out is just how badly Chinese giants have been affected by the macroeconomic trends at home. For almost two decades the trio of Baidu, Alibaba and Tencent represented the hopes and dreams of the nation’s go get ‘em innovation culture, while the US was underpinned by Facebook, Amazon, Netflix and Google.
It’s worth noting that many see BAT, as a concept and a collection, as dead. New players like ByteDance, PDD, and Meituan have popped up with fresh ideas. China’s internet scene is still bubbling, even if it’s not driven by the old guard.
In the US, Apple is sometimes added to the list but it’s otherwise the same middle-aged tigers. Still, they keep showing the youngsters a thing or two.
Revenue growth for the year through September clearly illustrates there’s plenty of life left in the FANGs, while the BATs are looking a little toothless.
I thought this juxtaposition was interesting, so I thought I’d share.
Thanks for reading
Other Cool Stuff: