China erased a $15,000,000,000 startup in 48 hours
https://youtu.be/_zZICeC81QY
I made a documentary about Yuanfudao the Chinese EdTech giant that went from a $15.5B valuation and 400 million users to near-collapse almost overnight after China’s “Double Reduction Policy.”
The craziest part:
they didn’t fail because of competition, fraud, or bad execution.
The government changed the rules and the entire industry disappeared.
Would love feedback from people interested in startups, economics, China, and business history.
u/Straight-Ad-9381 — 4 days ago