Shrinking giant

Investors pour cold water on Baidu’s investment plans

Baidu has lost its way. It has been losing senior management and it isn't the first port of call for startups any more.

Baidu's equity investment shrank 40% in the first quarter of the year, and it is losing its status as one of the top three internet companies in China.

The year has not been good either for Baidu or for its founder and chief executive Robin Li.

At Baidu’s AI conference in Beijing on Wednesday, Li was doused in cold water while giving a speech about artificial intelligence.

The incident became a hot topic on Chinese social media. But people didn’t seem to have much sympathy for Baidu. Most netizens made jokes about Baidu’s poor behaviour as a Chinese internet giant while other commented sarcastically...

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