Vapes decoded · June 2026 · 2026 · 17 pages
Vapes: a beginner's complete reference
From Hon Lik's 2003 invention to a $33 billion industry that ninety percent of the world builds in one Chinese city.
$33B
The industry that ninety percent of the world builds in one Chinese city.
The thesis
A complete beginner's reference to how the vape industry actually works — from its 2003 invention to the manufacturing city the entire world depends on.
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