"That's how you get a deal done in China." 🇨🇳

The thing about doing business in China is it forces you to rethink everything. If you go into China thinking you got it, you're going to get your ass handed to you. You have to start first principles bottoms up. A lot of times when you go and enter China, they're basically somebody's going you got to get a partner. They're like 50/50 blah blah blah. And I'm like why? Nobody could tell me why. So then we just went on our own and started building something on the ground. We never saw bias. We were treated fairly on the ground. But at some point, what I'd say is the China war went global. And what I mean by that is the Chinese government,

it was like the sovereign wealth of China, CIC, there's like a few things like that. They started investing hundreds of millions and billions of dollars in all of our competitors globally to drain us of money so that it was harder to compete in China. They made Apple and I'd love to have a discussion with Tim at some point. We had some interesting words for each other at this point. But they made Apple invest a billion dollars in DDI and Apple doesn't invest anything in anybody. No, that's not their like what was he protecting there? There's something going on. So the Chinese war went global. And so that's when we had to go from going for the gold to making

sure we got the silver. And that's when we started negotiating with DD to basically say we had 20% of the merged entity. But in order to do that in China, that's when we actually had to push our spend super hard because they had to be scared. So I think at the peak, right as we were negotiating the term sheet, we were burning $75 million a week. It's a big number. Yeah, that was that. Yeah. But we knew we had the deal. But we only have the deal if they're scared, right? This is a poker. So, our market share was skyrocketing as we did this. They're pissed and tripping. And then Emil who's negotiating the deal is like just chain smoking. Yeah.

But that's how you get a deal done in