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  "documentTitle": "Joyy Inc. (YY)",
  "authorId": "51_Muddy_Waters",
  "authorName": "Carson Block",
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  "presentationDate": "2020-11-18 00:00:00",
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  "notes": "The slide uses a screenshot of a 2017 blog post to demonstrate that Hello users were instructed to link their YY accounts for payment, suggesting common management.",
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      "text": "It suggests that some operations and management had been comingled and were under the common control of YY.",
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      "text": "Screenshot of blog post showing Hello audio cash out instructions",
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      "text": "We found additional evidence of this de facto control in a January 2017 blog post about how to set up an account and get paid commissions from streaming on Hello 语音. According to Singapore filings, Baiguoyuan and Hello 语音 should have been under the control of Bigo since 2016 and completely separate from YY. However, Hello 语音 users were encouraged to tie their YY accounts to their Hello 语音 account and to use YY’s payment system.",
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      "text": "As of August 2018, predating YY’s acquisition of Bigo, Hello used a YY customer service email: hello@yy.com. This is a red flag even for a small operation, but much more for Bigo, which in 2018 was supposedly on the path to generating over RMB 1 billion that year. It suggests that some operations and management had been comingled and were under the common control of YY.",
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      "kind": "source-note",
      "text": "104 http://web.archive.org/web/20180827213744/https://520hello.com/ 105 https://www.ruan8.com/tutorial_3630.html",
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      "text": "Cash out procedure comparison between Chinese and English",
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