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When Uber was fighting Didi to become the dominant ride-hailing app in China in 2016, its drivers reported receiving a text message that drove home just how cut-throat competition in the country could be. The message appeared to come from Uber’s China headquarters. The recipients were told that Uber China was shutting down and not to expect payment.
(Bloomberg) -- Billionaire Meituan co-founder Wang Xing is clambering aboard a global investment wave to create ChatGPT-like AI bots.Most Read from BloombergCredit Suisse Finds ‘Material’ Control Lapses After SEC PromptUS Core CPI Tops Estimates, Pressuring Fed as It Weighs HikeBillionaire Charles Schwab’s Fortune Is Slammed by SVB Fallout‘Old-School’ Signature Bank Collapsed After Its Big Crypto LeapBonds Rocket, Stocks Steady as Fed Rate Path Eyed: Markets WrapWang, who’s largely stayed out of