David is extensively quoted in this AdAge piece by Normandy Madden that discusses the growing trend among multinationals to develop products for China in the PRC, rather than localize current production.
David outlines several reasons behind this trend, but warns it is not for the newly-arrived:
The success stories come from companies who have a decade or more of experience in China and who have taken their lessons to heart. It may be counter-intuitive, but the best way to earn that experience is to test and modify your current offerings in the crucible of the market.
Also on this topic, take a look at this post “Made for China is Nothing New,” responding to a McKinsey article at the Harvard Business Review blog advocating a “create local” strategy.
“What we are looking at [with the IPOs] is not just online sites for videos. We are really looking at the birth of two major, 21st-century international media companies,” says David Wolf, founder and CEO of Wolf Group Asia (WGA), a management advisory firm in Beijing and Los Angeles. “They are going to become large international media companies, [involved in everything] from online delivery to online broadcasting channels.”