Joe Chen of Oak Pacific

Listened to Joe Chen, CEO of Oak Pacific Interactive (http://www.oakpacific.com/), speaks about entrepreneurship in China.

He paid his Stanford MBA tuition by buying brand name technology stocks. He says he's a bubble watcher and people need to be careful when companies are saying that they are printing money.
Like Buffett, Joe only does business in the industry he knows very well and acquiring Xiaonei at a cheap price further strengthens his assets in China's internet business.

Regarding the macro economic environment, Joe is saying that the recession will last about 5 years and it's the worst financial crisis after the depression because everyone is affected. His advice to graduating students is to get a full time job and then do stuff on the side.

He straightly admits that all it takes to succeed in China is to copy a huge successful idea in the US.

I think we should try getting into China!