Culture, Adoption and Adaptation [10:46 am]
â€œI think every Internet user likes personalization,â€ [Tencent's Pony] Ma said during an interview here. â€œIn 2005 and 2006, we came up with a new strategy: â€˜Online Lifestyle.â€™ â€
[...] Because few people in China have credit cards or trust the Internet for financial transactions, e-commerce is emerging slowly. But instant messaging and game-playing are major obsessions, now central to Chinese culture. So is social networking, a natural fit in a country full of young people without siblings. Tencent combines aspects of the social networking site MySpace, the video sharing site YouTube and the online virtual world of Second Life.
â€œThey have what I call the largest virtual park in China,â€ said Richard Ji, an analyst at Morgan Stanley. â€œAnd in China, the No. 1 priority for Internet users is entertainment; in the U.S., itâ€™s information. Thatâ€™s why Google is dominant in the U.S., but Tencent rules China.â€