No one ever forced any company to work with China. They all went to China over decades because it was cheaper and made more profits, knowing full well there’d be technological transfer since it was always China’s goal and even explicit in contracts and agreements.
Being surprised now that profits became technology transfer and China is now a real competitor is useless. They knew it, just didn’t think the Chinese could be real players in tech, or didn’t care because short-term profit was more attractive.
So it was profits then, and if you’re asking “what sort of VC deals were they shackled by”, it’s profits now. So the point of the article still stands, Wall Street screwed them over.
Oh, for sure, I'm just highlighting that it's not like they're playing on a level field. The US marketplace is self defeating with asymmetric regulations, unenforceable patent and IP knowledge transfer with countries like China that just ignore it, effectively, with zero accountability. It's not all external though, they could have had a much better leadership team and used all sorts of things in their favor early on to really capture the market, despite anything and everything else that happened. Apathy, VC-style race to the bottom dynamics, probably went public too soon, and didn't build momentum and a culture of high quality R&D (a whole lot of drama every time they considered using private data and monetizing on their intimate in-home access.)
They also missed out on AI getting good - by the time transformers came around and people realized they'd be really useful for stuff like Roombas, it was too late, and with shareholders just looking to cash out and minimize their losses toward the end, there's not a lot that could have been done to save it. Even if they'd gone to Amazon, there wasn't a lot left that had value beyond the branding, imo.
I think American companies would be more successful and higher quality if the regulation and IP policy we embraced were reciprocal. As it stands, unless you're Apple or Samsung or a giant, you have to win the CCP PR lottery for any sort of accountability with Chinese companies. Most of the time they're going to ignore you, because there's no downside. It's only in those cases where there are political ramifications, individuals being embarassed, or they feel a need to trot out a "look how conscientious and good faith we are in the international markets!" piece useful for other wheeling and dealing.
Being surprised now that profits became technology transfer and China is now a real competitor is useless. They knew it, just didn’t think the Chinese could be real players in tech, or didn’t care because short-term profit was more attractive.
So it was profits then, and if you’re asking “what sort of VC deals were they shackled by”, it’s profits now. So the point of the article still stands, Wall Street screwed them over.