#shorts Tencent then used their resources to jump on the wave of mobile internet growth and became an essential part of Chinese people's lives by creating WeChat for mobile. Tencent became one of the largest companies on the planet, but once China began its crackdown on big tech companies in order to rein them in after they'd become so powerful, Tencent's valuation began to fall. There have already been layoffs over the last few years and Pony recently blasted employees for being lazy, saying you're chilling on the weekends playing ball and began demanding a lot more from his team in an uncharacteristically aggressive speech. And Tencent are arguably even better positioned than meta for building the metaverse given their dominance in gaming and virtual worlds already.
