As tensions and boiling points come to the brink in Hong Kong and China, now the internal dispute has become international and even crept its way into Big Business. This blog is called Biz Bites N’ More and I typically will stay away from politics but it seems like this problem, like a growing tumor, is too big to ignore.
Hong Kong for many months now has been protesting Chinese rule and a variety of other regulations that have been taking place over the last few decades. The situation is supremely complex with many details and situations that I won’t bog you down with here. Basically, Hong Kong and its citizens are upset over the past few years and the outcomes of many regulations, bills, and laws. Hong Kong for many months was staging peaceful protests in the streets to make a change. China basically gave them the middle finger and now Hong Kong is fed up. They are violently protesting now. There have been injuries and there have been deaths. It’s a crappy situation that flew off the handle and now American Businesses are staking their claim as either with (the obvious, and correct answer) or against Hong Kong. Many are in favor of Hong Kong but that hasn’t stopped China from kinda being an overall dick about the entire situation.
So, what two major businesses have been affected by taking sides? The NBA and the gaming industry. Yep those two giants with valuations I am sure are in the billions if not trillions of dollars are seeing China getting pissed and basically putting their tail between their legs and obeying their communist profit-overlords. China can supply a lot of customers and A LOT of money to these companies, and with that the companies are taking the pussy route and obeying.
The first one hits home. The GM for the Houston Rockets retweeted a simple tweet earlier this week showing slight, slight support for the Hong Kong Protests. China, was PISSED. The Houston Rockets have plenty of strings tied to China, and Yao Ming has basically made the team and international symbol in China. They love and support the Rockets and have been for many years. BUT that all changed after the tweet went out. China has effectively black-listed the Houston Rockets in advertising, online sales, merchandise, artwork, etc. They said fuckkkkkkk the Rockets and threw out their memorabilia like a busted bong. Sure, they loved the Rockets at one point but now that time has passed. It’s a shitty move and the NBA strongly apologized although they shouldn’t have. China is playing a fucked-up game and they know they’ll win. American companies can just not forget about the revenue handjobs that China provides with their giant population. It’s a shame really.
The second story is more complex but as equally as fucked up. Recently Activision-Blizzard stripped away prize money and the platform from a competitive online gamer for voicing support for Hong Kong. Blizzard (a company that I have invested in) is really shitting the bed by 1) taking a political side which is always fucked and 2) took away money and credit from a young man that is LITERALLY EXERCISING HIS RIGHT TO FREE SPEECH. It’s fucked and a terrible situation. Blizzard reacted instead of responding and that has now screwed up their persona to their customers and their weakness to foreign government. I get that they didn’t want to be involved and made a “quick fix” of the situation but they should have planned more, taken a step back, and analyzed how to respond. They shouldn’t be getting into politics in the first place but here we are.
So, America has officially been swept up in the shit-tornado that is happening overseas. Companies are showing their true colors when it comes to the bottom line. Both the NBA and Activision-Blizzard rolled over and let China fuck ‘em. Not cool guys, not cool. Let the situation pan out with cool-heads and revisit the topic when everyone is done being all pissy about it. This is NOT our problem; this is a problem between Hong Kong and China. Let them fight it out and see if there is any opportunity amongst the survivors. But for now, American Companies should be a fly on the wall.
Anyway, that’s my take on it. Until next time.
-GS
Comentarios