Tencent: March of the Penguins. Fascinating summary of one of the major Chinese social networking and gaming platforms. Unbelievable scale (2.3m concurrent gamers at peak times) and some less-well-known VCs involved.

I still can’t understand why there is this continual focus on and whining about lack of innovation: Amazon wasn’t the first book store online. It just did it better than anyone else (customer service, the confirmation and tracking emails, one-click).

So what that Tencent is a fast follower: if it does it better, doesn’t it have the right to do so? I mean there’s Pret and Eat and whatever in the UK all doing coffee and sandwiches. Who’s complaining about innovation there?