‘The fall of LeEco does not come as a surprise. When you use hype to stretch reality, reality usually wins.’ Jay Zhao, partner at Walden Venture Capital
Rather than being a shining star of visionary entrepreneurship, LeEco is turning into a cautionary tale of the hype surrounding China tech. The lesson for investors: When it comes to Chinese tech companies, the rules of economics still apply.
Their India operations is pretty much shutdown - so imagine those buyers who bought their TVs and other gadgets. Who is going to fix them? What about service promise?