alibaba

Like many of the quirky electric vehicles I find for the Awesomely Weird Alibaba Electric Vehicle of the Week series, this fun-looking electric go-kart is a bit oddly proportioned. But that wouldn’t stop me from terrorizing the local neighborhood in it, all-wheel-driving my way to my rightful position as the king of the cul-de-sac! Yep, that’s right – you read that correctly. This wacky little electric buggy has all-wheel-drive capabilities. Don’t get too excited; it’s not some sophisticated gearbox like a typical…

But things started to take a downturn last year. Despite the hype and money, these companies struggled to make a profit as lockdowns eased and people simply went back to shopping in person. What’s worse, they were caught in China’s new fight against antitrust behavior. The Chinese government was quick to impose fines and pen editorials questioning the value of the industry. As a result, the once-promising startups and big tech companies decided to cut back on their expansion plans, implement massive layoffs, or outright…

Revenue at Chinese social media and gaming giant Tencent grew just 8% in the fourth quarter, the slowest pace since it went public in 2004, reflecting regulatory scrutiny that has hurt both its gaming business and advertising sales.China has frozen game approvals since August last year and curtailed gaming time for under-18s, part of Beijing's move to strengthen control over its society and industries including technology, after years of unbridled growth.This has also led to a slowdown in advertising as businesses have…