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Start free trial →Decoder with Nilay Patel · Tech Strategy & Big Tech · November 2026
Nilay Patel asked about the cliché that China is directed and plans for a hundred years while the US is chaotic. Kyle Chan rejects it, and says the Nvidia and Megaspeed episode shows Beijing can fumble too.
…if a Chinese company acquires a stake in a U.S. or European company, what does that mean? Does that mean they're trying to obtain the technology, or is that like a regular commercial deal? That's where it starts to get more difficult to parse. And you'd have to look at it at a case-by-case basis.
…system is directed. They make 100-year plans, not one-quarter plan. Like we've heard it, everyone knows these clichés. How true is that? Right? I mean, like in this case alone, it doesn't seem like they achieve the goal of their plan. In many cases, they might have actually set themselves back.
Oh, yeah. I mean, for those who actually study China, who have done long-term research on this country and who understand it more closely, it looks like a much messier picture than any of these portrayals, especially from those in Silicon Valley who try to juxtapose China against what they find to be this kind of annoyingly messy and unruly democracy. Like the Chinese system, both within the government and then across industries and government, is full of conflicting interests, rife with corruption. There are lots of times where you have bureaucratic turf wars that spill out into the open. You have missteps, ones that can backfire profoundly. So you see that all the time. You see the local governments not following what Beijing wants or following what Beijing wants, but in the wrong direction, right? Sometimes they're given a signal and they're like, oh, okay, we got to run that way. And then Beijing is like, no, no, no, no, no, other way, other way. So yeah, this happens all the time. And I think, you know, to anyone in Silicon Valley who's trying to make this neat argument, all I can say is like, go talk to people in China. They can tell you how messy it is actually on the ground.
Kyle, this isn't great. What do you think happens next year? What should people be looking out for?
I think the biggest thing is a congressional investigation and who's behind that, what that surface is. And then potentially along with that, these pending bills around export controls and whether those will now get more momentum to pass in Congress and whether Trump himself, the White House in…
I suspect we're going to want to talk to you again as this process plays out. Thank you so much, Kyle, for being on Decoder.