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Re:12,000 startups are being created every day in China [video] by dvcc on Saturday March 04, 2017 @06:50PM (#13793622)
So I had some doubts about the numbers at first, but a rough quick calculation 12,000 / (1.3 billion (people) * .5 (age 25-54)) ≈ 0.002% of the available population a day creating a startup (1 in every 50,000) which does not seem too far-fetched, but still seems a bit high to be honest.
Re:12,000 startups are being created every day in China [video] by gentro on Saturday March 04, 2017 @09:28PM (#13794261)
The documentary is about fintech innovation driving funds to SMEs. Their examples are a kiwi producer, a fish farm, and and a steel welding company. What they probably mean is that 12,000 businesses are started in China every day, not necessarily all tech related.
Re:12,000 startups are being created every day in China [video] by edblarney on Saturday March 04, 2017 @11:20PM (#13794580)
Yes, that's it. And a 'business' can also be a small contractor, a restaurant, or a hot-dog stand.

It's difficult to firmly characterize the difference between such business, but it's probably not fair to refer to every registered business as a 'startup'.

Re:12,000 startups are being created every day in China [video] by webmaven on Sunday March 05, 2017 @02:23AM (#13794977)
They are startups. It's just that the use of the term has shifted a bit. What we commonly refer to as "startups" today used to be called "high-growth-startups" (or -ventures, or -businesses) not so very long ago, and the unqualified noun referred to any new business.

This is actually important, as, for example, the Lean Startup methodology is applicable to almost any new venture that has to deal with significant uncertainty, regardless of whether it is a high-growth venture, an SME such as a VAR, or non-tech lifestyle businesses.

Re:12,000 startups are being created every day in China [video] by edblarney on Sunday March 05, 2017 @04:47PM (#13798912)
That the lean startup methodology might in some ways apply to other businesses, does not make them startups.

A single hot-dog stand will not do something that will change the economy, create 10K jobs, attract investment, R&D etc..

Re:12,000 startups are being created every day in China [video] by webmaven on Wednesday March 08, 2017 @10:34PM (#13826730)
> A single hot-dog stand will not do something that will change the economy, create 10K jobs, attract investment, R&D etc.

Well, you never know (McDonald's was once a small new company).

But that was exactly what I was trying to say: High-growth companies with those sort of ambitions are not the only kind of startup. ALL new ventures are startups, even if they are not intended to grow much, and including quite a few that aren't even necessarily businesses at all.

Re:12,000 startups are being created every day in China [video] by kitschshrine on Saturday March 04, 2017 @08:47PM (#13794152)
it's a lie, much like the government's made up 7% gdp growth.

"China's liaoning province admitted that it inflated GDP figures from 2011 to 2014"

https://qz.com/887709/chinas-liaoning-province-admitted-that...

Re:12,000 startups are being created every day in China [video] by golergka on Sunday March 05, 2017 @02:23AM (#13794974)
Now, this I have been wondering for a long time. Chinese authorities, especially on a local level, aren't exactly known for their honesty and high moral standards. At the same time, they have a lot of incentives to over-report one particular metric: population.

So, when people are talking about 1,5 billion Chinese - have these figures have been independently confirmed, or just taken straight from the government?

Re:12,000 startups are being created every day in China [video] by idra on Wednesday March 08, 2017 @05:08AM (#13819239)
If anything, the population is underreported. The 2010 census claims it to be around 1.3 billion. But it is widely accepted as a fact that a lot of people in the countryside weren't included in the census because they are "illegal" additional children born in defiance of the one-child policy, and were simply hidden in the basement during the census, as they are hidden whenever any government check is happening.

Those children have no rights, and according to the state, don't exist. They can't go to school, get an official job, etc. They are born to do physical work on the fields and support their parents into their old age.

Re:12,000 startups are being created every day in China [video] by TheSpiceIsLife on Sunday March 05, 2017 @02:32AM (#13794998)
Genuinely curious, what are the incentives to over report population?
Re:12,000 startups are being created every day in China [video] by golergka on Sunday March 05, 2017 @03:07AM (#13795072)
Doesn't it determine budget distribution from the central authorities?
Re:12,000 startups are being created every day in China [video] by ch4ck on Sunday March 05, 2017 @02:47AM (#13795036)
Subsidies?
Re:12,000 startups are being created every day in China [video] by mrslave on Saturday March 04, 2017 @11:24PM (#13794588)
And the US government saying there's no inflation, and the recovery is real - just a little slow. ;-)
Re:12,000 startups are being created every day in China [video] by contingencies on Saturday March 04, 2017 @07:10PM (#13793746)
I probably only know a few hundred people here, and there are multiple people starting businesses every year.

1 in 50,000 per day = 1 in ~136 per year. That sounds about right, perhaps even low.

Re:12,000 startups are being created every day in China [video] by credit_guy on Saturday March 04, 2017 @09:00PM (#13794193)
I would think on average a startup starts with more than one person.
Re:12,000 startups are being created every day in China [video] by da02 on Saturday March 04, 2017 @08:25PM (#13794062)
What do they use as investment? Personal savings, loans, VC?
Re:12,000 startups are being created every day in China [video] by contingencies on Saturday March 04, 2017 @08:41PM (#13794130)
It depends upon the business. Startup costs are low here, and some businesses can be started and validated without registration or paperwork. Where formalization is a requirement, agents can register companies as cheaply as a couple of hundred USD, including a registered address. At the low end people use personal savings and family loans. At a slightly larger level friends tend to group together to reach capital requirements. Banks do loan but that's not as easy as it once was. There are government payouts available for specific sectors or achievements (eg. if patents are registered). At the higher end there is strong VC availability right now due to a combination of a relative crisis of faith (ie. no longer "it can never lose money!") in real estate, which was formerly the medium to long term investment traditionally considered most accessibly performant, and increased controls on cross-border capital flight.
Re:12,000 startups are being created every day in China [video] by da02 on Saturday March 04, 2017 @07:06PM (#13793723)
I agree. Even if the number is too high, I wonder about the failure rate.