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Tech investor Draper sours on China, says it has left the free market

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TAIPEI : China is no longer a place to invest and has left 'the free market' under President Xi Jinping, said U.S. venture capitalist Tim Draper, an early investor in Elon Musk's Tesla and SpaceX.Draper was also an early and prominent investor in Chinese search engine Baidu Inc, but he is now turning his

TAIPEI : China is no longer a place to invest and has left"the free market" under President Xi Jinping, said U.S. venture capitalist Tim Draper, an early investor in Elon Musk's Tesla and SpaceX.

Draper, whose reality TV show"Meet the Drapers" just finished its fifth season, said Taiwan was a natural place to look for investments especially given the stumbling of China's economy as Xi's government enacts tough COVID-19 controls. Taiwan has a booming tech scene connected to its sprawling semiconductor supply chain. Billionaire Warren Buffett's Berkshire Hathaway Inc disclosed a more than $4.1 billion investment in TSMC stock on Monday.

 

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