While trawling the sewers of the world’s capital markets over the past 10 years, 讽刺从来都不缺. 然而,, nothing could prepare us for the surreality of Baidu announcing its intention to buy YY Live from JOYY, which happened just as we were preparing to reveal that our year-long
调查显示,YY Live约90%是欺诈.

It was clear to us from early on that YY Live was almost entirely fake. YY Live是一个海市蜃楼的生态系统. Its supposedly high-earning performers in reality take home only a fraction of their reported totals. The purportedly independent channel owners are largely controlled by YY in order to facilitate continuous sham transactions. The legions of benefactor fans are almost entirely bots operating from YY’s internal network (~50% of YY Live gift volume), 来自外部机器人农场的机器人, 和表演者往返礼物送给自己. 365平台APP下载的结论是YY Live有90%是欺诈的. YY’s international livestreaming business, Bigo, seems barely more real.

所以,问题是:百度会做什么? 百度成长艰难已不是什么秘密. But will Baidu really try to buy “growth” in the form of an almost completely fake business? 和3美元.60亿现金,相当于其市值的7%?! We have been arguing for the past 10 years that the rot in “China Inc.远远超出了大多数投资者所理解或承认的程度. 许多人说365平台APP下载过于愤世嫉俗. 百度/ YY Live将是对中国公司是否能成功的考验. is really just a few bad apples; or, whether the
不断的欺骗、谎言和对美国的冷漠.S. 法律渗透到中国上市公司的最高层.


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