China innovation now leads the planet, not California

Among other things, China innovation now leads the on-demand mobility revolution with more and more electric vehicles and… bikes.

on-demand mobility china
(Mary Meeker’s Internet Trends Report 2018)

While I was already forewarning my customers in luxury, automotive, energy and retail for years, this is now hopefully obvious for everyone.

The country size, the problems it faces with pollution and demography, the rapid growth of its economy, have all shaped it to be the most transformative force on the planet. Industries and startups that are still dreaming of California as THE innovation template are still looking in the rear mirror. 20 of the biggest internet companies by market capitalization are now in China, whilst only 11 are in the US (five years ago it was 2 versus 9). 

These next years will be both thrilling and quite challenging for westerners innovators.