China’s Move Impacts Meta’s Acquisition of Manus

Tech circles from Silicon Valley to Shenzhen were abuzz with Meta’s $2 billion acquisition of Manus late last year, viewed as using “Singapore washing” to avoid scrutiny from Beijing and Washington. However, China’s unexpected intervention shattered those hopes, discouraging Chinese founders from going offshore like Manus did. With China looking into Manus’ sale and restricting founders Xiao Hong and Ji Yichao from leaving for Singapore, the uncertainty grows. Manus, once a showcase for the ‘Singapore-washing’ model, moved headquarters to Singapore, drawing attention from U.S. lawmakers against backing Chinese AI companies directly. As Chinese tech founders face a new reality, strategies…