Hong Kong's Challenging Times

Hong Kong is facing challenging times these days

Last year when I visited Hong Kong, it was eerily quiet as a lot of people had left the city for Easter break. 

This time around it looked busier, but looking at the shopping malls it is sad to see how empty they are, as the shops are empty. Not a single customer inside. The shop staff are looking at their phones or looking very bored. This is the state of retail these days.

Times Square mall was quiet just after 6pm

Case in point: this afternoon I wandered around Harbour City in Tsim Sha Tsui, steps away from the Star Ferry. It used to be the place mainlanders shopped in, with queues in front of Louis Vuitton, Gucci and Dior. While there were people wandering around window shopping, hardly anyone was buying anything, even mainland visitors.

No locals are buying because they are worried about their financial situation. A few days ago a friend told me that his manager and mid-level managers were let go -- immediately. His immediately boss had no idea she would be sacked and after seeing the human resources manager, went to her desk to pack up her stuff and left.

Another who had an inkling of what was going to happen, said farewell to colleagues, took their purse with them and they didn't see them again. People at work purposely keep only a few items in the office just in case they will be axed.

Meanwhile those left behind must pick up the pieces and take on even more work, for the same amount of pay, or a pay cut even, as times are tough. 

Sunset light reflects on ICC building

The media industry is rapidly unravelling thanks to artificial intelligence. The Hong Kong Standard sacked all of their sub editors, people who check stories for grammar and make sure it is factually correct. They have all been replaced by AI. Currently AI can rewrite stories, but not necessarily with the information intact and must be looked over to ensure the facts are still there...

Editors are even using AI to rewrite stories for them -- the job they are supposed to be doing! Do they want to be out of a job themselves? It's so bizarre and crazy that this is happening so fast. My friends joked they will have to turn to basket weaving to sustain themselves financially.

Meanwhile millennials are challenging to work with, unable to follow instructions or have the passion to work hard. Two friends told me they are literally babysitting the staff they work with, following up to make sure they finish their assignments, and they do so at odd hours -- like 3am or 5pm, or don't consider how their work will be perceived outside of the company. But they can't be fired otherwise my friends will have to do even more work.

It feels like schools are downsizing by the month, as teachers continue to quit and leave, and about the same proportion of students; this has resulted in lowering qualifications for teachers, in particular NET or native English teachers, while the same goes for the police, who have pretty much done away with stringent physical tests.

How can Hong Kong survive like this? It's hard to be optimistic for the city when you see the difficulties and no light at the end of the tunnel. 

But when looked at another way, a friend who moved with her two daughters from Beijing to Hong Kong a year ago, they love being here, despite the challenges of having to learn Cantonese and English. They enjoy eating different kinds of cuisines, like the fact there are hardly any queues for rides at Hong Kong Disneyland, and they are exposed to different kinds of opinions.

Nevertheless does the government have ideas on how to navigate the city through these challenging times? It's time to think outside the box to stimulate the economy and bring back visitors who splurge, not ones who follow advice on Xiaohongshu to spend the least amount of money...

 

China's DeepSeek Shocks American AI Firms

DeepSeek rivals ChatGPT and Gemini in its AI capabilities

Today the biggest business news was Nvidia's stock going free fall because of a little known Chinese artificial intelligence start-up called DeepSeek.

Investors dumped Nvidia's stock when they found out DeepSeek had similar capabilities to OpenAI's ChatGPT and Google's Gemini -- but by using a fraction of the microchips, which means much cheaper and faster than US AI firms. Typically top companies train their supercomputers to use some 16,000 microchips or more; DeepSeek claims it only needed about 2,000.

Nvidia's stock plunged today on DeepSeek news

That sent alarm bells ringing. Loudly.

The Biden administration had limited the number of microchips China could buy in a bid to keep American companies in the lead when it comes to developing AI technology. But with its back against the wall, China's top programmers figured out a way to get more out of each microchip.

There are claims DeepSeek only spent about US$6 million on developing its AI technology, but skeptics think the amount is higher. 

Nevertheless, the inability of the Chinese to get their hands on more microchips is hindering its high tech development, as DeepSeek founder and entrepreneur, Liang Wenfeng told Chinese Premier Li Qiang last week that access to advanced chips was a bottleneck.

While US investors recover from their shock, rival programmers will be going through DeepSeek, as all of its work is open sourced, which means its coding is available for use, or to scrutinise as proof of what they have done.

DeepSeek founder Liang Wenfeng

In the meantime, US tech giants may be asking President Donald Trump for more controls on China. Today he said it was a "wake-up call" for the American tech industry.

Not only was DeepSeek on everyone's lips, but phones as well, as it was the most downloaded app in the last few days at over 1.6 million. 

Driverless Cars Take You Around

There's no one sitting in the driver's seat!

While we were waiting for our Uber to arrive at the San Francisco Ferry Terminal building, we saw a white car with a strange contraption on top of the car -- and no one in the driver's seat!

It was a Waymo, the world's first autonomous ride-hailing service. So basically Uber without the driver!

We saw two people get in, one in the back, one in the passenger side, and once the road was clear, it signalled to turn left into the lane and drove off!

Two brave souls got into the car...

Waymo is formerly the Google self-driving car project, which launched in 2015. The following year it was rebranded as Waymo. In 2020 it was the first company to offer a driverless ride-hailing service. 

The car, a Chrysler Pacifica hybrid, relies on artificial intelligence and Google Street View technology to navigate roads.

But is it safe?

The National Highway Traffic Safety Administration recorded 150 crashes by Waymo by July 2021, though most of the crashes did not have injuries. In February this year, a Waymo struck a cyclist in San Francisco, and then most recently, there are complaints the Waymos are very noisy when they self-park in a parking lot near residents because the cars make a lot of noise when backing up. 

San Francisco was where I saw a robot make coffee five years ago, and now a driverless car. 

What's next?!