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"I did my best. Next, do the same in France." - Jules Thevenon, The Forge Humanoid Robotics A French founder spent 10 years in China, built a humanoid robot, and couldn't raise a cent. His engineers left for Unitree and Agibot. So he closed his Shanghai company and is starting over in France. We sat down with Jules Thevenon in Shanghai to ask why. In this episode: Why 10 years in China ended with closing his humanoid robot startup The funding wall for a foreign deep-tech startup in China Watching his engineers leave for Unitree, Agibot, and other top humanoid companies "If I was an investor, I might think the same" - understanding the skepticism From exchange student to finance controller to selling Lingang to the world Why he builds robots for the elderly, and going minimalist in France Why he'll still rely on China's supply chain Foreigners in China peaked in 2016, and what that means About Jules Thevenon: Jules is the founder of The Forge Humanoid Robotics. French, he spent about 10 years in Shanghai, earned a finance master at Shanghai Jiao Tong University, and promoted the Lingang special economic zone before building a humanoid robotics startup. After closing it in China, he is rebuilding in France with a focus on robots for elderly care. Connect: The Forge Humanoid Robotics --- asiabits is on a mission to bridge the gap between East and West. We provide non-biased, on-the-ground insights into technology, innovation, and the future of business in Asia. Subscribe: asiabits.com Follow us on LinkedIn: Thomas Michael asiabits Watch on YouTube: youtu.be/4LjczBtExH4

"If I help people in the West to make money in China through financial returns by investing in real China technology — maybe then they will believe it." - Rafael Ratzel, TH Capital For years Rafael Ratzel went home to Europe trying to tell people what China is actually like. Lifelong friends called him brainwashed. So he stopped arguing and raised a $100M USD deep tech fund instead, because if he made his friends money in Chinese technology they would have to come see it themselves. Rafael landed in Hong Kong on the day of the biggest typhoon in HK history, age 19, with one suitcase. Eighteen years later he is Managing Partner International at TH Capital (华控基金), a Tsinghua-ecosystem deep tech VC with a portfolio that includes Zhipu AI, Aerofugia, Neuracle, and Lanxin Computing. In this episode: The brainwashed accusation at a European dinner that made him pivot from missionary to fund-builder A one-way ticket to Hong Kong in August 2008, arriving on the day of the biggest typhoon in HK history A Lan Kwai Fong bar, a stranger, and a Shenzhen printing factory with chickens jumping on a five-million-euro Heidelberg press Six years running a one-man trading and tech-licensing business between Germany and China From Tsinghua MBA to passing on HNA, Anbang, and CMIG for the small fund that said no to a special package Twenty years of thesis evolution at TH Capital: industrials, photonics, semiconductors, and now deep tech and quantum Why US chip sanctions accelerated China's own GPU industry instead of containing it Zhipu AI: backing the Tsinghua team before they started a company, before ChatGPT existed, from an 800 million RMB angel to a $50 billion listing The Saudi investor who heard a Shenzhen chip valuation and said it would be 10x higher in Silicon Valley Why Europe drops out of the next 20 years — and why he is still proud to be German Cross-border M&A: the Dortmund acquisition, the SPIE Award the year after, and why his founder will never buy a German company again Why "auswandern" is the wrong frame, and how he stays integrated on both sides About Rafael: Rafael Ratzel is Managing Partner International at TH Capital (华控基金), a Tsinghua-ecosystem deep tech VC founded in 2007, managing over RMB 10 billion across six RMB funds and one USD fund. The $100M USD fund closed end of 2024 with LPs from Greater China, Southeast Asia, Europe, the Middle East, and the US. Portfolio includes Zhipu AI, Aerofugia, Neuracle, and Lanxin Computing. Rafael landed in Hong Kong on a one-way ticket at 19 in August 2008. PolyU engineering + management double major, Tsinghua MBA, MIT Sloan exchange. Eighteen years in China. Connect: thcapital.com.cn --- asiabits is on a mission to bridge the gap between East and West. We provide non-biased, on-the-ground insights into technology, innovation, and the future of business in Asia. Subscribe: asiabits.com Follow us on LinkedIn: Thomas Michael asiabits Watch on YouTube: youtu.be/uuCt-95dVIs

"I did a deck eight years ago around why this is the Asian century." - Tak Lo, Komputational Kulture The US looked at AI and saw Armageddon. China looked at AI and said this is great, we should embrace it. Tak Lo bet on that gap eight years before ChatGPT made it obvious. He went from US Army engineer to Booz Allen to London Business School to founding Asia's first AI-focused accelerator in Hong Kong in 2017, with around 50 portfolio companies, one IPO, and two acquisitions before Animoca took a majority stake. He is now raising two new funds at Komputational Kulture, one in media and entertainment, one in space. In this episode: The comparative study that flipped his thesis: US perceives AI as Armageddon, China perceives it as productivity "When you download an AI app, you are trading your privacy" - and why that deal lands differently in Asia The eight-year-old deck on why this is the Asian century, vindicated by DeepSeek How DeepSeek came out of a hedge fund's GPU inventory as a side hustle From US Army to Booz Allen to Techstars London to Asia's first AI accelerator in Hong Kong Two new Komputational Kulture funds, one in media and entertainment, one in space Why live human content becomes the premium as AI slop floods every feed Kudum: a Chengdu spin-off turning your phone camera into a 10-minute sperm test South Korea at 0.85 children per woman, and why every modern country lands in the same hole Why he is moving his family from Hong Kong to Shenzhen, and what he wants to find in Robo Valley About Tak: Tak Lo is a fourth-generation Hong Kong VC and AI strategist, currently raising two new funds at Komputational Kulture. He founded Zeroth.ai in 2017, Asia's first AI-focused accelerator. Co-runs The Automated, a daily AI newsletter, and is the author of three books: I, Leader; The Flow; and Atomic Prompts. Career: US Army engineer, Booz Allen Hamilton, London Business School MBA, Techstars London, Hong Kong eleven years ago. Connect: thetaklo.com --- asiabits is on a mission to bridge the gap between East and West. We provide non-biased, on-the-ground insights into technology, innovation, and the future of business in Asia. Subscribe: asiabits.com Follow us on LinkedIn: Thomas Michael asiabits Watch on YouTube: youtu.be/W-J87ne5un8

"The AI revolution has almost definitionally not begun until we get physical AI." - Nils Pihl, Auki Labs Nils Pihl left Sweden for China to fix one missing piece of the internet, a spatial layer that gives robots, AR glasses, and AI agents a shared sense of where they actually are. His company Auki Labs just closed Sweden's largest retailer as its first big enterprise customer, is putting store-manager robots into shops in 2026, and is calling out Western VCs for being scared of breaking $10,000 of robot hands. In this episode: "AI hasn't begun until physical AI" — and 70% of the world economy still runs on atoms Why every robot wakes up convinced it's at coordinates 0, 0, 0 The pyramids' worth of human time lost in Beijing traffic every single week Naval Ravikant's missing fifth protocol and the sixth Nils added on top Three new internet dimensions: spaces, sensors, actuators The 43-gram Mentra glasses that finally make AR wearable all day Why drone delivery to apartment 30C still doesn't work Closing Sweden's largest retailer as Auki's first enterprise client Store-manager robots vs store-worker robots in 2026 $10,000 of Unitree robot hands shattering in seconds, and why he calls it cheap tuition "Be an agent of change or get replaced by people that already are" About Nils: Nils Pihl is the founder and CEO of Auki Labs, a spatial-computing startup based in Hong Kong building the real-world web, a protocol giving robots, drones, and AR glasses a shared map of physical space. Born in Sweden, seven years in Beijing, now in Hong Kong. Auki's products include Posemesh (decentralized spatial layer) and Cactus AI for Retail. Connect: aukilabs.com --- asiabits is on a mission to bridge the gap between East and West. We provide non-biased, on-the-ground insights into technology, innovation, and the future of business in Asia. Subscribe: asiabits.com Follow us on LinkedIn: Thomas Michael asiabits Watch on YouTube: youtu.be/QY1mAg4lL54

"I think I probably had 10k in the bank account. This thing doesn't work, then I'm screwed." - Oliver Masson, Blisstil Oliver built sleep headphones alone for six years, burned through $700,000 of his own and his family's money, and cried in a Shenzhen hotel on his first night in China. Then he set a $10,000 Kickstarter goal and raised over $1,000,000 in 30 days. In this episode: Crossing $1M alone: "you're never ecstatic, just more tired" 36 prototypes to make soft foam and hard electronics coexist First Shenzhen trip with $10K in the bank — crying in a cheap hotel Finding his Chinese business partner via Dragon Innovation Wanting to quit "at least once a day" for six years Amex capping his card at $38K and a friend lending him 150,000 EUR The Kickstarter algorithm: why 23% of pledges came free Spending $212,000 on ads to raise $1,000,000 Shipping 3,272 units in April and pricing against Bose "Fall in love with the problem, not the solution" About Oliver: Oliver Masson is the solo founder of Blisstil, maker of the Serenade — over-ear ANC sleep and travel headphones born from six years of R&D. Australian, based in Lisbon. UNSW Renewable Energy Engineering, Sunswift Solar Racing Team, ex-carpenter, ex-entrepreneurship lecturer. Connect: blisstil.com --- asiabits is on a mission to bridge the gap between East and West. We provide non-biased, on-the-ground insights into technology, innovation, and the future of business in Asia. Subscribe: asiabits.com Follow us on LinkedIn: Thomas Michael asiabits Watch on YouTube: youtu.be/0YoFuZwpiFU

"I don't think that Shenzhen's manufacturing ecosystem will be replaced in the next decade. I don't think it's possible." - Joshua Woodard, The Sparrows Josh grew up on the south side of Chicago, studied mechanical engineering at MIT, completed a Schwarzman Scholarship at Tsinghua, and spent four years at Apple managing iPhone and Mac camera production in Shenzhen. In April 2025 he quit to start The Sparrows, a manufacturing consultancy helping Western companies navigate China's supply chain. In this episode: Growing up on the south side of Chicago with a "black tiger mom" Googling "best engineering school" at 12 and ending up at MIT Schwarzman Scholars at Tsinghua: understanding Chinese history and business 4 years at Apple China: Foxconn factories, iPhone cameras, millions of units Leaving Apple and getting validated by the Gates Foundation Business culture: stamps vs. signatures, relationships vs. lawsuits Why Shenzhen's manufacturing won't be replaced in 10 years America's 500,000 unfilled manufacturing jobs "We're too fat to assemble iPhones" About Joshua: Joshua Woodard is Co-Founder of The Sparrows, a Shenzhen-based manufacturing consultancy. MIT mechanical engineering, Schwarzman Scholar (Tsinghua), ex-Apple Camera R&D. From the south side of Chicago. Connect: thesparrows.co --- asiabits is on a mission to bridge the gap between East and West. We provide non-biased, on-the-ground insights into technology, innovation, and the future of business in Asia. Subscribe: asiabits.com Follow us on LinkedIn: Thomas Michael asiabits Watch on YouTube: youtu.be/Ib26-JHlCb4

"The speed at which you solve problems on the factory floor is the speed at which your product ships." - Ryan Dunwoody Ryan was 24 when he flew to Shenzhen with a suitcase and a crowdfunding campaign to deliver. No Mandarin. No manufacturing experience. The factory gave him a bunk bed in the workers' dormitory. He took it. Five months later, the first production run shipped. Ten years later, he's still there. In this episode: Entrepreneurial beginnings: sex toys at 14, megaphone marketing at 17 Flying to Shenzhen at 24 with nothing and sleeping in a factory dormitory How the factory boss named him 杜无敌 (Du the Invincible) Pi-top: $35M raised, 10,000 laptops shipped, Guinness World Record Why remote hardware development kills startups The scooter man: Huaqiangbei delivers ICs to your window in 30 minutes Powerhouse's rule: every engineer must assemble what they design Hiring in 996 culture (3 months for one mechanical engineer) What Westerners get wrong about Chinese manufacturing Why your factory isn't the problem -- you are Connect with Ryan: LinkedIn | powerhouse.engineering About Asiabits: Weekly insider stories from Asia's tech & startup ecosystem. Subscribe: asiabits.com

"I lost everything up there when I was hiking. The monk said: Congratulations." - Denise Wu, rootique Denise started at Ogilvy in Hong Kong, launched Foodpanda as the first employee, scaled a bike-sharing startup to the US in three months, and then quit everything to build a hardware device for hair loss treatment. Alone. No co-founder, no R&D background. She spent 300,000 RMB of her own money on the first mold and flew from New York to Shenzhen to scream at a factory boss before Chinese New Year. In this episode: The photo in Annecy, France that made her stop taking picturesFrom Ogilvy to Foodpanda to bike-sharing to hair loss hardwareWhy 90% of people quit hair treatment before seeing resultsBuilding the world's first micro-misting scalp device (15 seconds, 3.5x absorption)300,000 RMB for the first mold, no investors, just her savingsA marketing expert learning hardware R&D from scratch in ShenzhenWhy Chinese factories copy but refuse to innovateFlying from NYC to storm into the factory boss's officeInnoX: Shenzhen's best hardware incubator (DJI, Huawei, Anker mentors)Hitchhiking to Tibet, a car accident, and a monk's life lessonAbout Denise: Denise Wu is the Founder & CEO of rootique, a Shenzhen-based scalp care tech company. Before rootique, she launched Foodpanda HK, scaled bluegogo's US operations, and worked at Ogilvy. Her product, rootique DUO, is the world's first one-handed micro-misting scalp care device. Connect with Denise: LinkedIn | rootique.co --- asiabits is on a mission to bridge the gap between East and West. We provide non-biased, on-the-ground insights into technology, innovation, and the future of business in Asia. Subscribe to the asiabits newsletter: asiabits.com Follow us on LinkedIn: Thomas Michael asiabits Watch the video version on YouTube: youtu.be/sM6PQxss89M

"Don't be afraid to pivot." - Laurent Le Pen Laurent moved to Shenzhen in 2007 when nobody knew the city. He watched the iPhone launch live from a Philips Mobile office, built the first million-dollar Kickstarter smartwatch out of Shenzhen, pivoted when Apple entered the market, co-founded an oral care brand that became #1 in Poland, and just launched an AI productivity device in Japan. 18 years, three companies, one city. In this episode: His grandfather was a French soldier in China during WWIIMoving to Shenzhen in 2007: one metro line, the iPhone had just launchedWorking at Philips Mobile when smartphones killed the feature phone industryVisiting BYD when they only made batteriesLaunching Omate TrueSmart on Kickstarter: $1M raised, first from ShenzhenHow Apple Watch forced him to pivot to smartwatches for seniors and kidsCo-founding Oclean: now a top oral care brand in Eastern EuropeOxtak "Moneypenny": AI recorder with live translation, launching in JapanHardware masterclass: how to build a product in Shenzhen as a foreignerAbout Laurent: Laurent Le Pen is a French serial entrepreneur based in Shenzhen since 2007. Founded Omate (smartwatches), co-founded Oclean (smart oral care, 30+ awards, 300+ patents), and recently launched Oxtak, an AI productivity platform. 500Global alum and board member of La French Tech Hong Kong Shenzhen. Connect with Laurent: LinkedIn | oxtak.com | omate.com | oclean.com --- asiabits is on a mission to bridge the gap between East and West. We provide non-biased, on-the-ground insights into technology, innovation, and the future of business in Asia. Subscribe to the asiabits newsletter: asiabits.com Follow us on LinkedIn: Thomas Michael asiabits Watch the video version on YouTube: youtu.be/akaiqz3lX4k

"Guess how many companies in the US make actuators for robots? Zero." - Tuo Liu, Robotuo Tuo grew up in Shenzhen, spent a decade in the US designing robotics labs for MIT and Harvard, and moved back to build the largest open-source robotics community connecting global founders with Shenzhen's hardware ecosystem. His maps of 150+ humanoid companies in China went viral. His verdict: the next decade of robotics will be built in the Greater Bay Area. In this episode: "Raise in SF, spend in Shenzhen, sell to the world" - the pattern behind every hardware startupDesigning robotics labs for MIT, Harvard, and Apple - then realizing all the parts came from ChinaZero actuator manufacturers in the US vs. 50+ in ShenzhenBuilding a community of 270+ global robotics foundersWhy China dominates open source AI (DeepSeek, Qwen)150+ humanoid companies in China - how many will survive?Unitree's $20K humanoid vs. $200K competitorsCES = "Chinese Electronics Show"Free prototypes in one week from Shenzhen factories#1 advice: make friends, set up a local teamConnect with Tuo: X/Twitter: @Robo_TuoLinkedInrobotuo.comAbout Asiabits: Weekly insider stories from Asia's tech & startup ecosystem. Subscribe: asiabits.com

"I believe I will do it." - Irving Gao, Sweekar 200 people received Irving's first AI robot. One month later, only 1 was still using it. He crashed, pivoted, took out ¥2,000,000 (~$300,000) in personal loans, and built Sweekar – the world's first physically growing AI pocket pet. CES media called it "breaking news." In this episode: How he gave up a PhD at USTC to take out a $300K loan and start a companyWorking at Unitree Robotics, SenseTime & Shanghai AI Lab before going soloThe first product that completely failed: 200 units shipped, 1 user after 30 daysThe gamification design course that changed everythingWhy he's building the "Nintendo of AI" – not the iPhone of AIHow Sweekar physically grows: Egg → Baby → Teen → Adult (MBTI personality)CES 2026: media calling it "breaking news"Why USA before China – the DJI & Anker playbookKickstarter: May 2026, $100–150About Irving Gao (高鸿志): Founder & CEO of Takway AI, Shenzhen. Ex-Unitree Robotics, SenseTime, Shanghai AI Lab. Dropped his guaranteed PhD at USTC to build emotionally intelligent AI companions. Follow Sweekar: Instagram: @sweekar_pocket_pet Website: takway.ai Links: Watch on YouTube: youtu.be/Afwd6TGXQr4 Newsletter (free, daily): asiabits.com Thomas on LinkedIn: linkedin.com/in/afuthomas Michael on LinkedIn: linkedin.com/in/michael-broza

"Look for a really honest team that is iterating fast. A lot of demos are fake." - Francesco Crivelli Francesco (23) grew up between Switzerland and Chile, had 30% school attendance, slept in immigrant housing as a teenager - and ended up at UC Berkeley building robots. In 2 months in China, he visited over 500 robotics companies and now builds a platform to deploy robots in the real world. What we cover: Why every hardware founder needs to come to ShenzhenThe real cost of deploying a robot (hint: the hardware is only 1/5)What happened when their robot destroyed a restaurantHow he ordered 16 motors in 2 hours (try that in the US)Why most robotics demos are fake - and what investors should look forAbout Francesco Crivelli: Swiss-Chilean robotics founder, UC Berkeley (EECS), Columbia Engineering. Building a robot deployment platform bridging Silicon Valley software with Shenzhen hardware. Francesco's company - Intuition Core: Website: intuition.dev LinkedIn: Intuition Core X/Twitter: @intuitioncore Links: Newsletter (free, daily): asiabits.com YouTube: Watch the video version Thomas on LinkedIn: linkedin.com/in/afuthomas Michael on LinkedIn: linkedin.com/in/michael-broza

"My dog is so lonely at home. I want to fix that." Jacky is 24. He scraped 1 million social media comments, fed them to ChatGPT, and built a smart remote-control ball for dogs in Shenzhen. Featured at CES 2026 and covered by CNET, PePeHola lets you play with your dog from anywhere in the world. Kickstarter launches February 26. In this episode, we discuss: • AI-powered market research: How ChatGPT analyzed 1 million comments to find the real problem • The InnoX Academy: Backed by DJI's co-founder, only founders under 30 can join • Shenzhen speed: From 3D-printed prototype to CES in under two years • Smart design: Why 90% of pet camera owners still can't interact with their pets • The bone controller: Play with your dog from another country via WiFi • Next product: A smart collar that detects your dog's emotions and stress About Jacky & Jay: Jacky (24) is the co-founder of PePeHola, a smart pet tech startup from Shenzhen's InnoX Academy. Jay handles product discovery for the US market and moved from Korea to join the team. --- asiabits is on a mission to bridge the gap between East and West. We provide non-biased, on-the-ground insights into technology, innovation, and the future of business in Asia. Subscribe to the asiabits newsletter: asiabits.com Follow us on LinkedIn: Thomas Michael asiabits Watch the video version on YouTube: youtu.be/0s3nQ50ZWiY

"It's a rich people sport." Pilates sessions cost $100 each. Monthly memberships run $500. Eric, a designer from Shenzhen, said: "We could do better." He built a smart, foldable Pilates reformer in his apartment. 48 hours after launching on Kickstarter: $400,000 raised. In this episode, we discuss: • The "rich people sport" problem: Why Pilates costs $500/month and how Eric is changing that • From back pain to business: How chronic desk job pain led to a $400K Kickstarter • Shenzhen speed: 3D-printed prototype to CES 2026 in one year • The tech inside: Smart sensors, app integration, and gamification • $899 vs $3,000: Why traditional reformers are overpriced • Pilates was invented by a German?! The surprising history • Thomas' 140kg story: How sports changed everything About Eric & Tintin: Eric is a designer and co-founder of Pavo Fitness. After chronic back pain from desk work, he discovered Pilates but couldn't afford the sessions. Tintin is a Pilates instructor who left her 996 (actually "000007" - 24/7) tech job to pursue fitness full-time. --- asiabits is on a mission to bridge the gap between East and West. We provide non-biased, on-the-ground insights into technology, innovation, and the future of business in Asia. Pavo Fitness Kickstarter: kickstarter.com/projects/pavofitness Subscribe to the asiabits newsletter: asiabits.com Follow us on LinkedIn: Thomas Michael asiabits

Sean is from Zibo, China's most famous barbecue city. At just 24, he co-founded Cozytime and built the Lumo, an AI-powered smart grill that brings real charcoal-style barbecue indoors with zero smoke. Supported by InnoX, the accelerator founded by DJI's creator, Sean and his team trained their AI on over 100kg of meat. The Lumo uses infrared technology instead of hot air, giving you that authentic smoky flavor right in your apartment. In this episode, we discuss: • From BBQ Capital to Tech Founder: How growing up in Zibo shaped Sean's vision for indoor grilling • The Infrared Breakthrough: Why 70% of charcoal heat comes from infrared, not hot air, and how Lumo uses this • AI-Powered Cooking: Cameras, sensors, and machine learning that know your meat's size, weight, and temperature • Three Modes, One Machine: Oven, grill, and open flat-top in a single device • InnoX Academy: How DJI's founder's accelerator helped Sean build his startup • Market Research at the Bar: Going to expat bars in Shenzhen to find first customers • Pitching with Meat: How cooking for Chinese investors got them to say "take my money" • The Tesla Strategy: Making it affordable to collect data and improve the AI • Social Recipes: Share your grilling results with friends through the Lumo app About Sean: Sean is a co-founder of Cozytime, based in Shenzhen. Originally from Zibo, Shandong Province, he studied engineering and joined InnoX, the innovation academy founded by DJI's creator. Together with his co-founders, he is building the Lumo smart grill, launching on Kickstarter in February 2026. --- asiabits is on a mission to bridge the gap between East and West. We provide non-biased, on-the-ground insights into technology, innovation, and the future of business in Asia. Pre-order the Lumo: prelaunch.com/lumo Subscribe to the asiabits newsletter: asiabits.com Follow us on LinkedIn: Thomas Michael asiabits Watch the video version on YouTube: youtu.be/kce77prgEFM