That's fascinating. It's a view of venture capital within China's system. It still has bubbles, but different types of bubbles. The interaction between the state and VCs is totally different than in the US. There's the old centrally planned economy preference for big projects with high visibility in the physical world. Somehow, this seems to have met up with venture capital and financial bubbles to produce the "building" the post mentions.

Any comments from people in China on this?

[1] https://fakepixels.substack.com/p/the-spectacle-of-building