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…You could not have teed us up better to discuss what is happening now in China in terms of trends for entrepreneurship. I'd like to turn it back to you. Feel free to start wherever you want, but for both of our audiences, what are some trends that they should be paying attention to that will be covering 3–5 years from now, the next Meituan, and the next Pinduoduo in future episodes? Actually, that's a great question. At least, in the near future, what we're focused on at our insider community for this year, what I think would be really interesting are a couple of things. One is consumer brands. That's specifically on consumer brands being run like Internet companies, which we can talk about. There is also community group-buying which is disruptive. It's a new form of ecommerce that's happening now in rural China that really kicked into high gear last year because of the pandemic. The third thing, I will briefly mention it, but I don't actually have too much to share on the topic at the moment, which is if we think about China tech more broadly than just the Internet or than even just software, then this whole new thing of electric vehicles and autonomous driving is really interesting in China as well. Actually, a lot of experts I talked to think that the U.S. and China are really on par. Some people even think China is ahead in that sector. That's definitely something I'm watching. I'm more familiar with the AV frontend, less with the actual vehicle-making, but those are all interesting things. Maybe let's first start with that direct-to-consumer and that brand piece and kick it over to Ying. What do you think about that? What's going on in China there?…

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