With its drastic stock rise and increasing popularity, China’s version of Youtube — Youku Tudou Inc. — is raking in viewers and is predicting a highly profitable future. The video-sharing website entered the digital world in 2006 and is now ranked at the top as China’s No. 1 online video provider. But in the days before Youku’s legacy in China began, it was known as the country’s top provider of pirated online content. From movies to television shows, the site offered unauthorized American content to its many viewers. Once responsible for intellectual property theft and piracy, Youku is now working to mend its tarnished image and rebuild itself as a reputable online network.
So what does Mitt Romney have to do with Youku? A lot actually — more than 300 shares’ worth. Romney’s recently released tax returns tell us that he sold more than 300 shares he had with Youku on June 15. So although Youku is working to clean up its reputation by legitimizing its website and working toward original content, Romney is stuck in another tangled web of controversy. How does Romney plan to crack down on China when there’s proof he recently invested in a company guilty of intellectual property theft and piracy? A report from BuzzFeed quoted Romney:
“Did you know they even have an Apple store?” Romney said at a rally in Virginia last week. “It’s a fake Apple store; they sell counterfeit Apple products. This is wrong. We’re gonna crack down on China when they manipulate their currency, when they steal our goods, when they don’t protect our intellectual property. We’re gonna make sure that China understands we mean business. Trade is gonna work for us, not just for them.”
Jennifer Granholm gives us her take on this Romney flip-flop on tonight’s episode of “The War Room.”
Also, Democratic strategist Chris Lehane analyzes the latest polls, and correspondent Michael Tomasky chimes in on the political news of the day. We also talk with author and political analyst Ron Christie, and Jeanette Senecal previews National Voter Registration Day. Join the talk and stay informed! Tune in to Current TV tonight at 10E/7P.