iQIYI (IQ) is a company we have discussed in the past and have suggested taking a position in the name as well. To refresh your memory, iQIYI China's version of Netflix and they are a perfect example "duplicate, don't innovate." However, they do use a different business model. While we focus most of our attention on US-based companies, we do venture overseas when we see a good opportunity, and we also embrace the benefit of getting a little geographic diversification.
