Shuli Ren, Columnist

Didi Backlash Sounds a Warning for China’s Unicorns

Pursuing growth while losing public trust is a recipe for trouble.

August 28, 2018 at 2:29 AM UTC

Shuli Ren is a Bloomberg Opinion columnist covering Asian markets. A former investment banker, she was a markets reporter for Barron’s. She is a CFA charterholder.

Serving the people, or just the investors?

Photographer: Qilai Shen/Bloomberg

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Is China falling out of love with its unicorns?

The country is home to four of the world’s 10 most valuable startups, according to CB Insights. Its companies raised about $31 billion from venture capital in the second quarter, beating the U.S. for the first time, Goldman Sachs Group Inc. estimates.