Go out there and change the world.
- Tim Draper, Draper Fisher Jurvetson

"Whatever the world looks like now, it will change," said Tim Draper, founder and managing director of Draper Fisher Jurvetson (DFJ), during the keynote session at the March 1 Entrepreneurship in the Global Marketplace seminar, organized by the Stanford Program on Regions of Innovation and Entrepreneurship (SPRIE) with sponsorship from Alibaba.com, the first in a series of seminars by the Schwarzenegger Emerging Entrepreneur Initiative. Concluding his remarks, Draper urged the overflow audience: "Go out there and change the world."

Draper and the nine other participants shared different perspectives on entrepreneurship, but a key message underlying all of the presentations was that the world is a dynamic, rapidly changing place where entrepreneurs can succeed by anticipating and responding to global trends. In doing so, many suggested, it is also possible to change the world—for the better. The participants all concurred that China is one of the key places in the world—now and in the future—to do business, representing a challenging but a vast frontier of opportunity.

Global demographic trends are a major factor that venture capitalists consider when making investments. Addressing the worldwide aging phenomenon, which is particularly acute in Asia-Pacific countries such as Japan and China, Draper explained how DFJ has invested in a company that manufactures videogame-like devices designed to improve cognition, noting the growing market for such devices that help keep cognitive health apace with a longer life span. Hans Tung, a partner with the Shanghai-based venture capital firm Qiming Ventures, described how his firm is tracking the large segment of China's population living in small cities away from commercial hubs. These members of the populace, who prefer to shop online where they can find a wider selection of goods than in their local shopping malls, are quickly becoming a driving force in China's e-commerce market.

It is China's e-commerce and other Internet firms—fueled by the explosion of Internet users—that carry increasingly significant weight in China's domestic and the global economy. Duncan Clark, a visiting scholar at SPRIE, presented related findings from SPRIE's China 2.0: The Rise of a Digital Superpower research initiative, which is led by Marguerite Gong Hancock, associate director of SPRIE. China 2.0, explores the conditions generating such rapid growth of the Internet, and investigates questions surrounding the possible global implications of it. Clark noted that as China's three largest Internet firms—search engine Baidu, instant-messaging service Tencent, and e-commerce portal Taobao—expand, domestic competition will not only intensify, but move further into the global economic arena. The "big three" firms are already ranked among the top 20 Internet sites in the world based on site traffic. According to Clark, the key question in the future for U.S. companies will be how to partner with Chinese companies in order to insure their own growth.

Riding the global wave of innovation and entrepreneurship, Jonathan Ross Shriftman, co-founder of Solé Bicycle Company, and Ryder Fyrwald, vice president of global operations at the Kairos Society, have discovered opportunities to effect positive change despite a global climate of intense economic competition. Shriftman, a recent University of Southern California (USC) graduate, described the lessons that he has learned through his company's quest to manufacture low-cost, quality fixed-gear bicycles that provide a stylish, alternate form of transportation. Despite funding and language challenges, Shriftman and his partner succeeded in connecting with a manufacturer in China through Alibaba.com, and have sold nearly 800 bicycles to date. Fyrwald, who is still an undergraduate at USC's Marshall School of Business, explained the philosophy behind the Kairos Society, an international network of student entrepreneurs who seek to solve world issues through entrepreneurship and innovation. He cited the example of WaterWalla, a company that has developed, among other technologies, a low-cost water purification device for use by urban slum dwellers.

From the perspective of seasoned venture capitalists Draper and Tung and emerging entrepreneurs Shriftman and Fyrwald, the message at Entrepreneurship in the Global Marketplace was clear: the way to succeed in a rapidly changing world is to react promptly—and creatively—to global trends. And, as Shriftman suggested, it is possible to "do well by doing good," and change the world in a positive way.

Thomas Crampton, who oversees social media strategy in the Asia-Pacific region for the marketing and communications company Ogilvy and Mather, spoke to a standing room only audience at a seminar hosted by SPRIE about how controls imposed by the Chinese government have created a vibrant and unique social media domestic ecosystem.

Daniel C. Sneider, associate director for research at Shorenstein Asian-Pacific Research Center, also shared his views on the issue of the role of the internet and social media in social and political change.

Much has been written of late about the PRC government's efforts to control and censor the internet. The government's censorship of websites is an important issue, but it is not the top priority of the country's 420 million internet users or netizens. Their top priority is to connect with other Chinese online. The internet has opened access to information for ordinary Chinese citizens in ways that were unimaginable just a few years ago. Coming from a world where information was pre-filtered by editors at state-run media, China's internet is freewheeling by comparison.

"China's government officials are the most savvy in understanding the power of social media and actively trying to shape its use," Crampton noted at the talk. Rather than eliminate social media, restrictions on foreign websites and social media have resulted in a flourishing home-grown, state-approved ecosystem in which Chinese-owned properties thrive. YouTube, Facebook, and Twitter have faced blockage in China, but their Chinese equivalents are expanding. According to the official statistics from the China Internet Network Information Center (CNNIC) , the number of Chinese netizens reached 420 million at the end of June 2010. But their patterns of use vary from those in other countries. Quoting a 2008 MTV Music Matters survey, Crampton showed a graph that young people across Asia have made a similar number of friends online and offline. Only in China, however, young people actually have more friends online than offline. This points to a convergence of the offline and online worlds, where it is less important to distinguish between what happens online from the "real world." In China, more than in many countries, social media has become deeply integrated into people's lives.

China's government officials are the most savvy in understanding the power of social media and actively trying to shape its use.

- Thomas Crampton, Ogilvy and MatherIn China, as elsewhere in Asia, local variations of internet usage are driven by language, culture, levels of economic development, and the underlying digital ecosystem. For example, rather than short videos popular on YouTube, China's Youku and Tudou are filled with longer form of content, up to 70 percent of which is professionally produced, though individual Chinese users produce and post videos too. Users in China spend up to an hour per day on these sites, compared with less than 15 minutes spent by Americans on YouTube. In the way they present programs, the Chinese sites seem more like online television stations or a replacement for digital video recorders.

Twitter vs. Sina Weibo

Crampton cited another difference between Chinese and foreign social media that is rooted in language. At first glance, Sina Weibo is a latecomer to the microblog phenomenon. Launched in 2009, just about three years after Twitter, it is by far the most popular microblogging platform in China.

Similar to Twitter, Sina Weibo allows users to post 140-character messages, and users can follow friends and find interesting comments posted by others. Small but important differences in the platform have made some say it is a Twitter clone, but better. For example, unlike Twitter, Sina Weibo allows users to post videos and photos, comment on other people's updates, and easily add comments when re-posting a friend's message.

Though mobile phones are used to send less than 20 percent of Twitter updates in the United States, nearly half of Sina Weibo's updates are sent via mobile phone. This phenomenon points to the growth of China's mobile internet, one of the biggest trends in China and Asia.

Perhaps the most striking difference between Chinese and foreign social media, however, is the length of communications expressed via microblogs in Chinese versus English. One measure is to look at what Dell Inc., a company skilled at social media, can communicate on microblogs in Chinese compared to English. Twitter holds messages to 140 characters, which is quite short in English, especially if users want to include a URL. Dell often uses its Twitter feed, @delloutlet, to promote special offers, such as this posting: "Today's Deal: Get FREE Eco-Lite Sleeve with the purchase of any Dell Outlet Insprion Mini 10 or 10v Netbook! http://bit.ly/77fUFG." This message came in at 136 characters, almost the maximum length.

Since each character in Chinese is a word, @delldirect, Dell's Chinese-language feed, can write much more using the Chinese-language Zuosa microblogging platform. As translated by Ogilvy's Beijing team, a similar message reads: "Dell's National Day Sale runs from Sept. 11 to Oct. 8. To celebrate the 60th anniversary with the motherland, Dell Home Computers is offering 6 cool gifts and deals on 10 computer models. These exciting offers will run non-stop for 4 weeks. Also, get a free upgrade to color casing and a 512MB independent graphics card, as well as other service upgrades. All offers are on a first-come, first-served basis. What are you waiting for? Act now!" Even with a message of this length-114 characters in Chinese-there is still enough space to put in a webpage link. In other words, 114 characters in Chinese translates into 434 characters in English, well beyond the text limit of a "tweet" in English. This language efficiency turns microblogging in China into a more blog-like platform.