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Explore the complete collection of entrepreneurial stories. From humble beginnings to global success, discover how 13 founders built their companies from nothing.

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The Serial Builder: Lessons from He Xiaopeng's Journey from Mobile Internet to Smart Cars
he-xiaopeng

The Serial Builder: Lessons from He Xiaopeng's Journey from Mobile Internet to Smart Cars

He Xiaopeng has had two successful acts as an entrepreneur, a rare achievement. He built a mobile internet giant and sold it for billions, then used that success to fuel a second, even more ambitious venture in the brutal world of electric vehicles. What are the common threads that tie these two journeys together? This story explores the core principles of He Xiaopeng's entrepreneurial philosophy: his obsession with product, his ability to see the future by applying a software mindset to new industries, and his relentless drive to build, even after achieving financial freedom. It's a look at the enduring legacy of a serial builder and the lessons his remarkable career holds for the next generation of founders.

Read Story →10 min read
Riding the 'Stupid Coaster': XPeng's Wild Ride Through Price Wars and Stock Market Volatility
he-xiaopeng

Riding the 'Stupid Coaster': XPeng's Wild Ride Through Price Wars and Stock Market Volatility

Going public was a major victory for He Xiaopeng, but it was also the beginning of a new, brutal chapter. XPeng's stock has been on a wild ride, soaring to incredible heights before crashing down amidst intense competition and a vicious price war initiated by Tesla. At times, the company's very survival seemed in question. This is the story of He Xiaopeng's battle against market forces, his struggle to maintain morale and long-term vision amidst short-term crises, and the tough decisions he had to make to navigate one of the most competitive industries on earth.

Read Story →12 min read
The Product Manager in Chief: He Xiaopeng's Obsessive Pursuit of the 'Smart' Car
he-xiaopeng

The Product Manager in Chief: He Xiaopeng's Obsessive Pursuit of the 'Smart' Car

He Xiaopeng is not a traditional auto executive. He is a product manager at heart. This story delves into his unique, hands-on leadership style at XPeng, where he is deeply involved in every detail of the car's user experience. From personally testing every new software build on his daily commute to obsessing over the sound of the car's warning chimes, his approach is more Silicon Valley than Detroit. How does this product-centric culture, imported from the internet industry, give XPeng a competitive edge? And how does he balance his intuition as a 'super product manager' with the complex engineering and manufacturing realities of building a car?

Read Story →11 min read
The Unlikely Alliance: How He Xiaopeng Forged a Landmark Partnership with Volkswagen
he-xiaopeng

The Unlikely Alliance: How He Xiaopeng Forged a Landmark Partnership with Volkswagen

In a stunning move that sent shockwaves through the auto industry, German giant Volkswagen announced in July 2023 that it would invest $700 million in XPeng and co-develop EVs for the Chinese market. For a young startup that was once dismissed as a 'Tesla clone,' this was the ultimate validation. How did He Xiaopeng, a leader from the internet world, convince one of the world's most powerful and traditional automakers to become a partner and a customer? This is the inside story of a deal that signaled a major power shift in the automotive world, proving that the future of the car is being written in China.

Read Story →11 min read
Beyond the Road: He Xiaopeng's Dream of Flying Cars and Robotaxis
he-xiaopeng

Beyond the Road: He Xiaopeng's Dream of Flying Cars and Robotaxis

For most EV founders, winning the battle on the ground is more than enough. But for He Xiaopeng, the car is just the beginning. Driven by a sci-fi vision of the future, he has invested hundreds of millions of dollars into two audacious 'moonshot' projects: a flying car developed by XPeng's affiliate HT Aero, and a fleet of autonomous robotaxis. Why is he channeling so much capital into ventures that seem years, if not decades, away from profitability? This story explores He Xiaopeng's long-term vision for a complete mobility ecosystem and his belief that the company that masters autonomous driving will dominate not just the road, but the sky as well.

Read Story →11 min read
The Tesla Challenger: How the XPeng P7 Became a Symbol of a New Automotive Power
he-xiaopeng

The Tesla Challenger: How the XPeng P7 Became a Symbol of a New Automotive Power

In 2020, the Chinese EV market had a clear king: the Tesla Model 3. For any domestic startup to succeed, they had to prove they could build a car that was not just a competitor, but a true alternative. This was the challenge facing He Xiaopeng with the launch of the XPeng P7. How did he position this sleek sports sedan as a 'smarter' and more tech-forward choice for Chinese consumers? This is the story of a high-stakes product launch, a direct confrontation with a global giant, and the moment XPeng proved it was more than just another 'Tesla clone'.

Read Story →12 min read
The Car as a Smartphone: He Xiaopeng's Bet on In-House Software
he-xiaopeng

The Car as a Smartphone: He Xiaopeng's Bet on In-House Software

From the moment he joined XPeng, He Xiaopeng brought a radical philosophy from his internet background: a car is not just hardware, it's a smart device on wheels defined by its software. While competitors were outsourcing their autonomous driving technology to suppliers like Mobileye, he made a costly and difficult decision to build a full-stack, in-house R&D team for autonomous driving and the car's operating system. Why did he believe that owning the software was the only path to victory? This is the story of XPeng's biggest strategic bet and how it led to the creation of XPILOT, the system that would become the soul of its cars.

Read Story →12 min read
Surviving the Capital Winter: He Xiaopeng's Desperate Hunt for Cash
he-xiaopeng

Surviving the Capital Winter: He Xiaopeng's Desperate Hunt for Cash

When He Xiaopeng took over XPeng in 2017, the EV market was booming. But soon after, a 'capital winter' hit China, and funding for cash-burning startups dried up. XPeng was burning through hundreds of millions of dollars with no mass-produced car to sell. He Xiaopeng found himself in a desperate race against time, flying from city to city, pitching to any investor who would listen, just to keep the company alive. How close did XPeng come to bankruptcy? This is the story of a founder's resilience in the face of a collapsing market and the crucial fundraising rounds that saved the company from the brink.

Read Story →12 min read
The Second Act: Why He Xiaopeng Traded a Gilded Cage at Alibaba for the 'Dirty Work' of Building Cars
he-xiaopeng

The Second Act: Why He Xiaopeng Traded a Gilded Cage at Alibaba for the 'Dirty Work' of Building Cars

After the multi-billion dollar sale of UCWeb to Alibaba, He Xiaopeng had it all: wealth, security, and a prestigious executive title. Yet, he felt profoundly unfulfilled. He called it a 'gilded cage.' In 2017, he made a shocking decision: he left Alibaba to go all-in on a small, unproven electric vehicle startup he had co-founded, XPeng Motors. Why did he abandon the pinnacle of the internet industry to enter the capital-intensive, notoriously difficult world of car manufacturing? This is the story of a founder's search for a new mission and the moment he decided to trade comfort for a chance to build something real.

Read Story →11 min read
The Browser that Unlocked the Mobile Web: He Xiaopeng's Ten-Year Journey with UCWeb
he-xiaopeng

The Browser that Unlocked the Mobile Web: He Xiaopeng's Ten-Year Journey with UCWeb

Before he entered the electric vehicle wars, He Xiaopeng was a pioneer of the mobile internet. In 2004, when smartphones were still a novelty and mobile data was slow and expensive, he co-founded UCWeb with a simple mission: to build a browser that would make the internet accessible to everyone. How did this product-obsessed engineer lead UC Browser to dominate the market in China and other emerging economies? And what was it like to build a company for a decade, only to sell it to Alibaba in a landmark deal that would grant him financial freedom but leave him searching for a new purpose?

Read Story →12 min read
The Laboratory Years: Huang Zheng's Post-Google Experiments in E-commerce and Gaming
huang-zheng

The Laboratory Years: Huang Zheng's Post-Google Experiments in E-commerce and Gaming

After leaving Google a multi-millionaire in 2007, Huang Zheng didn't immediately set out to build a giant. Instead, he entered a period of intense, deliberate experimentation. He founded a series of small, relatively unknown companies: an e-commerce site for electronics, a company that helped foreign brands market themselves in China, and, most importantly, a gaming studio. Why did this brilliant engineer spend years on these seemingly small-scale projects? This is the story of Huang Zheng's 'laboratory years,' a crucial period of learning and discovery where he would forge the two key ingredients—e-commerce mechanics and gaming psychology—that he would later fuse together to create Pinduoduo.

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The Prodigy and the Oracle: Huang Zheng's Apprenticeship at Google and the Mentorship of Duan Yongping
huang-zheng

The Prodigy and the Oracle: Huang Zheng's Apprenticeship at Google and the Mentorship of Duan Yongping

Before founding Pinduoduo, Huang Zheng was a brilliant young engineer who faced a choice that would shape his destiny: join Microsoft or a still-private Google. On the advice of an anonymous mentor, he chose Google, a decision that led him to the heart of Silicon Valley and later to the front lines of Google's entry into China. Who was this mysterious mentor, who would later be revealed as the legendary investor Duan Yongping? This is the story of Huang Zheng's formative years, his intellectual apprenticeship at Google, and the profound, life-long lessons he learned from one of China's most respected business figures.

Read Story →12 min read
From Farmville to Table: Pinduoduo's Radical Reinvention of Agriculture
huang-zheng

From Farmville to Table: Pinduoduo's Radical Reinvention of Agriculture

While Alibaba and JD.com focused on electronics and fashion, Huang Zheng made a surprising strategic choice for Pinduoduo: he went all-in on agriculture. He saw that the traditional farm supply chain was incredibly inefficient and that he could use his platform to connect farmers directly to consumers. How did Pinduoduo's gamified features, like the virtual farming game Duo Duo Orchard, become a powerful tool for selling real produce? This is the story of a unique business strategy that would not only become a huge commercial success but would also form the basis of Huang Zheng's post-CEO scientific ambitions.

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The War on Fakes: Pinduoduo's Painful Struggle for Legitimacy
huang-zheng

The War on Fakes: Pinduoduo's Painful Struggle for Legitimacy

Pinduoduo's explosive growth came with a dark side: its reputation as a haven for counterfeit and low-quality goods. After its high-profile IPO in 2018, this issue exploded into a full-blown crisis that threatened the company's existence. How did Huang Zheng, an engineer who prized efficiency, grapple with the messy, human problem of platform governance? This is the story of Pinduoduo's long and painful war on fakes, a battle for legitimacy that forced the company to evolve from a 'growth-at-all-costs' startup into a mature and responsible e-commerce giant.

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The Three-Year Blitz: Pinduoduo's Explosive Growth and Breakneck IPO
huang-zheng

The Three-Year Blitz: Pinduoduo's Explosive Growth and Breakneck IPO

The growth of Pinduoduo was unlike anything the tech world had ever seen. In just three years, it went from a concept to a public company with a valuation of over $20 billion. This meteoric rise was a 'blitzscaling' masterclass, a relentless push for growth that prioritized speed above all else. How did Huang Zheng manage this explosive expansion? This is the story of Pinduoduo's chaotic, controversial, and incredibly successful journey to its 2018 Nasdaq IPO, a high-stakes gamble that solidified the company's place as a true challenger to the giants of Chinese e-commerce.

Read Story →11 min read
The Absent Architect: Huang Zheng's Hands-Off Leadership and Pinduoduo's Hardcore Culture
huang-zheng

The Absent Architect: Huang Zheng's Hands-Off Leadership and Pinduoduo's Hardcore Culture

Huang Zheng is a phantom-like figure, rarely giving interviews and almost never appearing in public. This low-profile persona is a direct reflection of his unusual, hands-off leadership style. Unlike many founders who are micromanagers, Huang Zheng deliberately delegated immense responsibility to his small, trusted team. How did this philosophy of 'letting go' shape Pinduoduo's famously hardcore, engineering-driven, and secretive corporate culture? This is the story of a founder who built a multi-hundred-billion-dollar empire by focusing on first principles and trusting his team to execute.

Read Story →11 min read
The Common Sense Revolutionary: The Legacy and Lessons of Huang Zheng
huang-zheng

The Common Sense Revolutionary: The Legacy and Lessons of Huang Zheng

Huang Zheng is one of the most important and enigmatic entrepreneurs of his generation. In just a few years, he built a company that challenged the giants of e-commerce, became one of the richest people in the world, and then walked away from it all. What is the enduring legacy of this reluctant tycoon? This final story explores the core principles that define his success: his belief in 'common sense' over complex theories, his unique 'Costco + Disney' formula, and his profound insight that in the digital age, value and fun are an unbeatable combination. It's a look at the lasting impact of a founder who didn't just build a company, but created a new way to think about commerce.

Read Story →11 min read
The Unthinkable Exit: Why Huang Zheng Gave Up a $60 Billion Empire to Become a Scientist
huang-zheng

The Unthinkable Exit: Why Huang Zheng Gave Up a $60 Billion Empire to Become a Scientist

At the age of 41, Huang Zheng was on top of the world. He was the chairman of one of China's most valuable companies and one of the richest people on the planet. Then, in March 2021, he did the unthinkable: he resigned, giving up his super-voting rights and walking away from his empire to become a scientist. Why would a founder at the absolute peak of his power and success choose to simply walk away? This is the story of one of the most unusual and fascinating 'third acts' in modern business history, a move that reveals Huang Zheng's deep intellectual curiosity and his profound desire to solve a different, and perhaps even harder, set of problems.

Read Story →11 min read
The 'Costco + Disney' Formula: Huang Zheng's Invention of Social Commerce
huang-zheng

The 'Costco + Disney' Formula: Huang Zheng's Invention of Social Commerce

By 2015, Chinese e-commerce was a two-horse race between Alibaba and JD.com. The market seemed impenetrable. But Huang Zheng saw a gap. He believed traditional e-commerce was boring, a utility based on search. His revolutionary idea was to make shopping social again. This is the story of the founding of Pinduoduo, the company that pioneered 'social commerce.' How did Huang Zheng's 'Costco + Disney' philosophy—combining unbeatable value with fun, game-like experiences—create one of the fastest-growing companies in history? And how did he leverage the power of WeChat to bypass the expensive search-based model of his rivals?

Read Story →12 min read
The Silent Invader: Pinduoduo's Audacious Global Expansion with Temu
huang-zheng

The Silent Invader: Pinduoduo's Audacious Global Expansion with Temu

Just as Pinduoduo seemed to be consolidating its power in China, it launched a secret, audacious project: a full-scale assault on the global e-commerce market. In September 2022, a mysterious new shopping app called Temu appeared in the US, backed by Pinduoduo's formidable supply chain and a seemingly limitless marketing budget. How did this low-key company orchestrate such an aggressive and successful international expansion, catching giants like Amazon and Shein by surprise? This is the story of Temu's blitzkrieg-like entry into the Western market, a move that reflects Huang Zheng's long-term global ambitions.

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The Content King of Cars: How Li Xiang Built Autohome into a Billion-Dollar Empire
li-xiang

The Content King of Cars: How Li Xiang Built Autohome into a Billion-Dollar Empire

With the success of PCPop, Li Xiang had already achieved more than most entrepreneurs dream of. But he saw a much bigger opportunity. The Chinese auto market was about to explode, yet there was no trusted, user-friendly source of online information for car buyers. In 2005, he launched his second venture, Autohome. How did he apply the lessons from the IT world to build the world's most-visited automotive website? This is the story of a relentless focus on content quality, a deep understanding of user psychology, and the journey of taking a company from a simple idea to a billion-dollar IPO on the New York Stock Exchange.

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The Third Act: Why Li Xiang Left His Public Company to Build a Car from Scratch
li-xiang

The Third Act: Why Li Xiang Left His Public Company to Build a Car from Scratch

In 2015, Li Xiang was the successful CEO of a publicly traded company he had built from the ground up. He was at the top of the automotive media world. Then, he did something almost unthinkable: he resigned to start all over again, founding a car company. Why would he trade the security and prestige of a public CEO title for the immense risk and uncertainty of a hardware startup? This is the story of Li Xiang's final entrepreneurial leap, a move driven by a deep-seated desire to build a physical product, a frustration with the slow pace of the traditional auto industry, and a clear vision for a new kind of car for a new kind of Chinese family.

Read Story →11 min read
The Battle for China: Li Xiang's Multi-Front War Against Tesla and Huawei
li-xiang

The Battle for China: Li Xiang's Multi-Front War Against Tesla and Huawei

Winning in China's EV market means fighting a war on multiple fronts. For Li Xiang, the battle is not just against the global benchmark, Tesla. He faces a relentless onslaught from a wave of powerful domestic rivals, most notably the technology giant Huawei and its AITO brand. How does Li Auto navigate this hyper-competitive landscape? This is the story of a brutal fight for market share, a clash of different corporate cultures and technological strategies, and Li Xiang's personal, often fiery, rivalry with his fellow outspoken founder, Huawei's Richard Yu.

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The Contrarian's Gambit: Li Xiang's 'Impure' Bet on Extended-Range EVs
li-xiang

The Contrarian's Gambit: Li Xiang's 'Impure' Bet on Extended-Range EVs

In the early days of the EV revolution, the industry was gripped by a purist ideology: the only true electric car was a battery-electric vehicle (BEV). Li Xiang, the founder of Li Auto, rejected this dogma. He made a controversial and lonely bet on a different technology: the Extended-Range Electric Vehicle (EREV), which used a small gas engine as a generator. Why did he choose this 'impure' path, inviting criticism from competitors and the media? This is the story of a pragmatic, user-obsessed founder who chose to solve a real-world problem—range anxiety—instead of chasing a fashionable technological ideal, a decision that would become the cornerstone of Li Auto's success.

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The Five-Year IPO: Li Auto's Breakneck Race to the Public Markets
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The Five-Year IPO: Li Auto's Breakneck Race to the Public Markets

In the capital-intensive world of car manufacturing, going public is a crucial rite of passage. For Li Xiang, it was a race against time. He successfully took Li Auto public on the Nasdaq in July 2020, just five years after its founding—a near-record speed for a car company. A year later, he did it again, securing a dual primary listing in Hong Kong. How did this young company achieve in a few years what takes traditional automakers decades? This is the story of a disciplined and efficient path to the public markets, a journey made possible by a clear product strategy, strong initial sales, and a founder who knew how to sell his pragmatic vision to global investors.

Read Story →11 min read
The Billion-Dollar Product Manager: Li Xiang's Obsessive, Data-Driven Leadership Style
li-xiang

The Billion-Dollar Product Manager: Li Xiang's Obsessive, Data-Driven Leadership Style

Li Xiang is not a typical CEO. He is a product manager at his core, and he runs his company like a product manager. He is famously direct, sometimes brutally so, on social media. He is obsessive about data and operational efficiency, and he drills this mindset into every corner of his organization. How has this unique, almost nerdy, leadership style become a competitive advantage? This is the story of a founder who has scaled his personal obsession with 'getting things right' into a corporate culture, creating one of the only profitable and most efficient EV companies in the world.

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The Ultimate Product Manager: Lessons from Li Xiang's Three-Act Entrepreneurial Epic
li-xiang

The Ultimate Product Manager: Lessons from Li Xiang's Three-Act Entrepreneurial Epic

Li Xiang is a unicorn among entrepreneurs: a three-time founder who has built billion-dollar companies in three different decades and three different industries—IT media (PCPop), automotive media (Autohome), and car manufacturing (Li Auto). What is the common thread in this incredible journey? This final story explores the enduring principles of Li Xiang's philosophy: his almost supernatural ability to identify user pain points, his contrarian thinking, his relentless focus on efficiency, and his core identity as a product manager above all else. It's a look at the profound legacy of one of his generation's most important and iconoclastic entrepreneurs.

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The Humbling of a 'Hit Maker': The Li MEGA Fumble and the Pivot to a Broader Market
li-xiang

The Humbling of a 'Hit Maker': The Li MEGA Fumble and the Pivot to a Broader Market

After an unbroken string of hit products, Li Xiang and Li Auto seemed invincible. Then came the MEGA. The company's first pure-electric vehicle, a futuristic-looking MPV, was met with a disastrous launch, plagued by vicious online attacks and disappointing sales. For the first time, the master product manager had a flop. How did Li Xiang react to this public failure? This is the story of a humbling moment, a candid admission of mistakes, and a crucial strategic pivot, as Li Auto learned the hard lesson that even the most successful companies must evolve beyond their initial niche.

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One Car to Win It All: The 'Hit Product' Strategy Behind the Li ONE
li-xiang

One Car to Win It All: The 'Hit Product' Strategy Behind the Li ONE

While other EV startups were launching multiple models to capture different market segments, Li Xiang and Li Auto did the opposite. For the first three years of its existence, the company sold only one car: the Li ONE. This laser-like focus was a deliberate 'hit product' strategy. How did Li Xiang pour all of his company's resources into creating a single, perfect vehicle for a very specific customer—the Chinese family? This is the story of a disciplined, product-centric approach that defied conventional automotive wisdom and proved that in a crowded market, doing one thing exceptionally well is better than doing many things just okay.

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The High School Dropout Who Hacked the Dot-Com Boom: Li Xiang's Founding of PCPop
li-xiang

The High School Dropout Who Hacked the Dot-Com Boom: Li Xiang's Founding of PCPop

Long before he was an auto tycoon, Li Xiang was a teenager obsessed with computers in a small Chinese city. While his classmates were studying for college entrance exams, he was teaching himself to code and building websites. In 1999, at just 18 years old, he made a decision that would define his life: he dropped out of high school to turn his personal homepage into a business, PCPop.com. How did a teenager with no degree and no connections build one of China's most successful IT websites during the height of the dot-com bubble? This is the story of Li Xiang's audacious first act, a testament to raw talent, obsession, and the power of the early internet.

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The 'Boundless' War Machine: Why is Wang Xing's Meituan Always 'Crossing Borders' and 'Making Enemies'?
wang-xing

The 'Boundless' War Machine: Why is Wang Xing's Meituan Always 'Crossing Borders' and 'Making Enemies'?

After achieving a decisive victory in the food delivery war, Meituan did not stop its expansion. From bike-sharing to ride-hailing, from hotel booking to community group buying, Wang Xing led Meituan like a 'greedy beast,' constantly breaking into new territories and making enemies with almost all internet giants, including Didi, Ctrip, Alibaba, and Pinduoduo. What is the business logic behind Wang Xing's 'boundless' expansion strategy? Is he really just trying to 'make enemies,' or is he building a grander, more solid 'local life services' empire?

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A Pioneer's Tragedy: Why Was Wang Xing's Fanfou 'Unplugged' When It Was Closest to Success?
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A Pioneer's Tragedy: Why Was Wang Xing's Fanfou 'Unplugged' When It Was Closest to Success?

After selling Xiaonei, Wang Xing quickly launched China's first microblogging site—Fanfou. This simple, fast, and elite product rapidly became the most intellectually active place on the Chinese internet at the time, and it seemed Wang Xing's era had finally arrived. However, in July 2009, at the height of its popularity, Fanfou was shut down without warning by regulators due to force majeure. What shock and regret did this 'sudden death' bring to Wang Xing and the Chinese internet? How did it change Wang Xing's entrepreneurial trajectory and indirectly lead to the creation of Sina Weibo?

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A Life of 'Nine Defeats, One Victory': What Can We Learn from Wang Xing and His Meituan?
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A Life of 'Nine Defeats, One Victory': What Can We Learn from Wang Xing and His Meituan?

From dropping out of his Ph.D. program and returning to China in 2003, to 2023, Wang Xing has been fighting at the poker table of the Chinese internet for a full 20 years. He founded Xiaonei and Fanfou, and finally found success with Meituan. He has been hailed as the 'toughest loser,' the 'king of wars,' the 'boundless expander,' and also the 'most un-CEO-like CEO.' As we look back on Wang Xing's entrepreneurial history of 'nine defeats, one victory,' what kind of person is he really? And what are the most valuable lessons and experiences that he and the Meituan empire he created have left for China's entrepreneurs?

Read Story →10 min read
The 'Marriage' of Rivals: How Wang Xing Masterminded the Meituan-Dianping Merger to Dominate the O2O World
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The 'Marriage' of Rivals: How Wang Xing Masterminded the Meituan-Dianping Merger to Dominate the O2O World

Before the smoke from the 'Thousand Groupon War' had even cleared, Wang Xing's Meituan was already engaged in a new round of brutal, close-quarters combat with another giant—Dianping—across multiple fronts like food delivery and movie tickets. Backed by capital, both sides engaged in a frenzied subsidy war, a war of attrition where they 'lost eight hundred soldiers to kill a thousand of the enemy's.' In 2015, brokered by investors, these two 'arch-rivals' staged a shocking merger of the century. How did Wang Xing come out on top in this complex game of capital and personnel struggles to ultimately become the CEO of the new company? And how did this merger forever change the landscape of China's O2O (Online-to-Offline) market?

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Rise of the 'Food Delivery' Empire: How Wang Xing's Meituan Won the Cruelest 'Ground War' in History with 'Strong Execution'
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Rise of the 'Food Delivery' Empire: How Wang Xing's Meituan Won the Cruelest 'Ground War' in History with 'Strong Execution'

After merging with Dianping, Wang Xing set his sights on 'food delivery' as the company's next main battlefield. This was a track that was 'heavier,' 'harder,' and demanded higher offline operational capabilities than group buying. Here, Meituan encountered its toughest opponent—Ele.me, backed by Alibaba. To compete for the market, both sides invested tens of billions of yuan and hundreds of thousands of ground promotion staff in a 'pixel-level' war. How was Meituan's 'Iron Army' of ground promoters forged? And how did Wang Xing inject the gene of 'operational efficiency' into this vast and complex system?

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From 'Bleeding' to 'Listing': How Did Wang Xing's Meituan Go Public on the Hong Kong Stock Exchange Amidst Massive Losses?
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From 'Bleeding' to 'Listing': How Did Wang Xing's Meituan Go Public on the Hong Kong Stock Exchange Amidst Massive Losses?

In 2018, after 8 years of operation, Meituan finally reached the 'bell-ringing' moment of its IPO. However, upon opening its prospectus, people were surprised to find that this 'super unicorn' was still suffering huge losses. How did Wang Xing tell the capital market the 'future' story of a 'loss-making' company? And why did he insist on pushing the company to go public at that 'bleeding' moment? What did listing on the Hong Kong Stock Exchange mean for Meituan and Wang Xing?

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Survivor of the 'Thousand Groupon War': How Did Wang Xing's Meituan Carve a Path Through a Bloodbath of 'Cash Burning'?
wang-xing

Survivor of the 'Thousand Groupon War': How Did Wang Xing's Meituan Carve a Path Through a Bloodbath of 'Cash Burning'?

In 2010, armed with lessons from Fanfou's failure, Wang Xing plunged into the most frenzied and brutal 'Thousand Groupon War' in the Chinese internet's history. Thousands of group-buying sites, fueled by capital, engaged in hand-to-hand combat with frantic advertising and offline sales pushes. Yet, under the dual pressure of giants and capital, Wang Xing's Meituan ultimately prevailed by being the 'last one standing,' thanks to its extreme cost control and obsessive pursuit of operational efficiency. How did Wang Xing stay clear-headed in this unprecedented 'cash-burning' war? And how did he use the weapon of 'scientific management' to defeat seemingly more powerful opponents?

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The Next 'Battlefield': Why Did Wang Xing Personally Lead Meituan to Go 'All In' on Community Group Buying?
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The Next 'Battlefield': Why Did Wang Xing Personally Lead Meituan to Go 'All In' on Community Group Buying?

In 2020, when Meituan's business seemed to be 'all-encompassing,' Wang Xing turned his attention to an older and more 'grassroots' market—community group buying. He not only elevated it to a 'top-level strategy' but also personally led the charge, investing unlimited resources to engage in a new 'battle of kings' with giants like Alibaba and Pinduoduo. Why did this seemingly 'vegetable-selling' business become a 'once-in-a-decade' opportunity in Wang Xing's eyes? What new challenges and opportunities will Wang Xing and his Meituan face in this new war?

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Wang Xing the 'Deep Thinker': The Business Philosophy of a 'Reading Machine' and a Believer in 'First Principles'
wang-xing

Wang Xing the 'Deep Thinker': The Business Philosophy of a 'Reading Machine' and a Believer in 'First Principles'

Wang Xing is the most 'scholarly' of China's internet CEOs. He is an avid reader, always speaks of 'first principles,' and likes to analyze business competition through the frameworks of 'history' and 'physics.' How was this unique 'deep thinking' model formed? And how did he apply the 'theories' learned from books to the brutal 'real battles' of Meituan? From 'Finite and Infinite Games' to 'Antifragile,' what 'key' does Wang Xing's 'reading list' provide for us to understand Meituan's strategy?

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The 'Nine Defeats, One Victory' Entrepreneur: How Wang Xing and His Fanfou, Xiaonei Forged the 'Toughest Loser'
wang-xing

The 'Nine Defeats, One Victory' Entrepreneur: How Wang Xing and His Fanfou, Xiaonei Forged the 'Toughest Loser'

Before founding Meituan, Wang Xing was a 'startup machine' who repeatedly failed. From social networks 'Duoduoyou' to 'Youzitu', and later the renowned Xiaonei and Fanfou, he was among the first in China to see the social media wave. Yet, he was always forced to exit for various reasons just one step away from success. How did these consecutive failures shape Wang Xing's resilient character and his profound understanding of business? What precious lessons leading to his 'one victory' did this entrepreneur, hailed as the 'toughest loser,' learn from his 'nine defeats'?

Read Story →12 min read
The Birth and Loss of 'China's Facebook': How Wang Xing Ignited Campus Social Networking but Was Forced to Sell His 'Own Child,' Xiaonei
wang-xing

The Birth and Loss of 'China's Facebook': How Wang Xing Ignited Campus Social Networking but Was Forced to Sell His 'Own Child,' Xiaonei

In 2005, after multiple failures, Wang Xing accurately identified the social networking trend on university campuses and founded China's first 'Facebook-style' website—Xiaonei. The product instantly took the campus scene by storm with viral user growth. However, this seemingly perfect start quickly hit a dead end due to a fatal problem: a lack of money. How did Wang Xing see the huge potential in campus social networking? In an era when capital wasn't as frenzied, what harsh realities did a 'phenomenal' product with no revenue face? What pain and reflection did selling Xiaonei ultimately bring to Wang Xing?

Read Story →11 min read
The 'Marriage' of the Century with Blizzard: How Ding Lei Secured World of Warcraft and Established NetEase's 'Gaming Empire'
ding-lei

The 'Marriage' of the Century with Blizzard: How Ding Lei Secured World of Warcraft and Established NetEase's 'Gaming Empire'

In 2008, when the Chinese agency rights for World of Warcraft were about to change hands, everyone assumed this 'juicy prize' would fall into the hands of an industry giant without question. However, Ding Lei, with astonishing sincerity and an ultimate commitment to player experience, staged a shocking reversal and successfully 'won over' Blizzard. Securing this epic game not only brought massive revenue to NetEase but, more importantly, it firmly established NetEase's unshakable 'empire' status in the Chinese gaming industry. What kind of gamesmanship and power struggles unfolded behind this historic business negotiation?

Read Story →13 min read
The 'Craftsman' Philosophy of a 'Zen' CEO: How Ding Lei Built the 'Happiest' Company in China's Internet Industry
ding-lei

The 'Craftsman' Philosophy of a 'Zen' CEO: How Ding Lei Built the 'Happiest' Company in China's Internet Industry

Against the backdrop of 'wolf culture' and the prevalent '996' work schedule in China's internet industry, Ding Lei and his company, NetEase, have always been an anomaly. He is the only CEO on China's top rich list who always has a smile on his face, and NetEase is known for its great employee benefits and work-life balance. What kind of management philosophy is hidden behind Ding Lei's 'Zen' and 'happy' demeanor? How has the 'craftsman spirit' he advocates allowed NetEase to continuously create blockbuster products without resorting to 'squeezing' its employees?

Read Story →11 min read
The Comeback of a 'Music Believer': How Ding Lei Built NetEase Cloud Music in the Cracks Between Giants
ding-lei

The Comeback of a 'Music Believer': How Ding Lei Built NetEase Cloud Music in the Cracks Between Giants

In 2013, China's online music market was already dominated by Tencent and Alibaba, with high copyright barriers leaving little room for new players. However, as a die-hard music enthusiast, Ding Lei insisted on 'reinventing the player.' He personally led a small team, approaching from the seemingly 'unserious' angles of 'music community' and 'personalized recommendations,' ultimately creating a product with explosive word-of-mouth—NetEase Cloud Music. How was this project, a 'payment for passion,' born? And how did it miraculously carve out a path in a market crowded with giants?

Read Story →12 min read
With 500k in Capital: How Ding Lei Coded the China-Changing '163.com' in a Small Guangzhou Room
ding-lei

With 500k in Capital: How Ding Lei Coded the China-Changing '163.com' in a Small Guangzhou Room

In 1997, in a rented room of less than 8 square meters in Guangzhou, 26-year-old Ding Lei and a few partners founded NetEase with 500,000 RMB in seed money. Their goal was simple yet bold: to create a free email system for the Chinese people. In an era when even connecting to the internet required a dial-up modem, this idea was nothing short of fantasy. How did they overcome the immense difficulties of funding, technology, and the market to make the '@163.com' suffix a collective memory for a generation of Chinese netizens?

Read Story →12 min read
From 'Tech Geek' to 'Happy Billionaire': What Exactly Makes Ding Lei and His Company NetEase So 'Cool'?
ding-lei

From 'Tech Geek' to 'Happy Billionaire': What Exactly Makes Ding Lei and His Company NetEase So 'Cool'?

For over two decades, Ding Lei has led NetEase from an email service provider to a diversified internet empire covering gaming, music, e-commerce, and education. Among all of China's internet tycoons, he is perhaps the furthest from the 'trends,' but the closest to 'users' and 'common sense.' He has carved out an atypical path to success with his unique 'slow' philosophy and extreme pursuit of 'passion.' As we look back on Ding Lei's entrepreneurial journey, what has he truly taught us? And what unique value has NetEase left for this era?

Read Story →10 min read
From Heaven to Hell: Why Did NetEase's NASDAQ Listing Nearly Cost Ding Lei Everything?
ding-lei

From Heaven to Hell: Why Did NetEase's NASDAQ Listing Nearly Cost Ding Lei Everything?

In June 2000, NetEase successfully listed on NASDAQ, marking a peak moment in Ding Lei's life. However, before he could celebrate, the global dot-com bubble burst, pushing both NetEase and him to the brink of bankruptcy. The stock price plummeted from $15 to less than $1 and was even suspended from trading. In those dark days of 'waking up losing money every day,' how did Ding Lei resist the temptation to 'sell the company'? And what belief sustained him to finally walk out of the abyss?

Read Story →13 min read
The 'Pig Farming Dream' of an Internet Billionaire: Why Did Ding Lei Make a Cross-Industry Decision That Stunned Everyone?
ding-lei

The 'Pig Farming Dream' of an Internet Billionaire: Why Did Ding Lei Make a Cross-Industry Decision That Stunned Everyone?

In 2009, when NetEase's gaming business was booming and Ding Lei was firmly seated as the 'top player' of the Chinese internet, he suddenly announced a shocking decision: NetEase was going into pig farming! This news sparked huge controversy and ridicule, seen by the public as a whimsical side project. However, Ding Lei was incredibly determined, investing heavily to explore a new, high-tech pig farming model. Was he just 'being willful with his wealth,' or did he see a new blue ocean market ignored by the giants?

Read Story →11 min read
The 'Direct-from-Factory' Ambition: How Ding Lei's NetEase Yanxuan Sparked a 'Quality E-commerce' Revolution
ding-lei

The 'Direct-from-Factory' Ambition: How Ding Lei's NetEase Yanxuan Sparked a 'Quality E-commerce' Revolution

In 2016, when China's e-commerce market was firmly dominated by Alibaba and JD.com, and almost everyone believed the landscape was set, Ding Lei once again played the role of 'disruptor' by launching NetEase Yanxuan. With a brand-new 'ODM model,' it bypassed brand owners and distributors, directly connecting top-tier factories with consumers under the banner of 'a better life doesn't have to be expensive.' How was this seemingly 'anti-business' model born? In the red ocean of e-commerce, surrounded by giants and high traffic costs, how did Ding Lei's 'Yanxuan' (Strictly Selected) philosophy carve out a new battlefield for NetEase?

Read Story →12 min read
A Lifeline or a Massive Gamble? How Ding Lei Pulled NetEase Back from the Brink with a Single Game
ding-lei

A Lifeline or a Massive Gamble? How Ding Lei Pulled NetEase Back from the Brink with a Single Game

In 2001, NetEase's stock had crashed, trading was suspended, and Ding Lei and his company were in their darkest hour. When all other ventures seemed hopeless, Ding Lei saw a glimmer of hope in 'online gaming,' a field then considered a 'monster.' He went against all advice, betting the company's last resources on the self-developed game 'Westward Journey.' At the time, this was an all-in gamble. What unseen opportunities did Ding Lei see behind this bet? And how did he lead his team to overcome the huge technical and mindset gap between being a 'portal' and becoming a 'game' company?

Read Story →12 min read
Defector from the System: How Ding Lei Quit His Iron Rice Bowl for the 'Wild Era' of the Internet
ding-lei

Defector from the System: How Ding Lei Quit His Iron Rice Bowl for the 'Wild Era' of the Internet

In 1995, 24-year-old Ding Lei had an enviable 'iron rice bowl' job at the Ningbo Telecom Bureau in China. However, the stable and comfortable life within the system felt suffocating, like a 'frog being boiled in warm water.' On a fateful night, he made a decision that shocked everyone: he resigned to head south. In an era when the internet was still seen as a 'monster,' what ignited the fire in his heart? What struggles and reflections gave him the courage to smash his own 'iron rice bowl'?

Read Story →11 min read
The 'Boundless' Company: How Zhang Yiming Pushed ByteDance Beyond the Feed
zhang-yiming

The 'Boundless' Company: How Zhang Yiming Pushed ByteDance Beyond the Feed

With TikTok and Douyin dominating the world's attention, many founders would have focused on consolidating their success. But Zhang Yiming's ambition was never limited to just short-form video. Driven by his philosophy of the 'boundless' company, he launched a series of bold, expensive forays into entirely new industries: enterprise software with Lark (Feishu), education with Dali Education, and high-end gaming. Why did he risk billions to compete in crowded markets far from his core competency? This story explores Zhang's relentless drive to find ByteDance's 'second act' and his belief that the company's core strengths—algorithms and organization—could be applied to conquer any industry.

Read Story →12 min read
'Context, Not Control': Zhang Yiming's Radical Philosophy for Managing a Creative Empire
zhang-yiming

'Context, Not Control': Zhang Yiming's Radical Philosophy for Managing a Creative Empire

ByteDance is famously not a top-down organization. Its founder, Zhang Yiming, built the company on a unique leadership philosophy he calls 'Context, not Control.' Unlike traditional CEOs, he avoided giving direct orders, instead focusing on ensuring every employee had access to the same vast ocean of information and understood the company's objectives. How did this radical transparency, including open documents and bi-weekly 'CEO Open Mics,' allow ByteDance to innovate at lightning speed? And what is the 'Day One' mentality that Zhang borrowed from Amazon to prevent his multi-billion dollar giant from becoming a slow-moving bureaucracy?

Read Story →11 min read
The Billion-Dollar Pivot: How a Retreat in the Forest Led to the Birth of Douyin
zhang-yiming

The Billion-Dollar Pivot: How a Retreat in the Forest Led to the Birth of Douyin

By 2016, Toutiao was a certified success, but Zhang Yiming was already looking for the next big thing. He saw the global rise of short-form video on platforms like Musical.ly and Vine, but his own attempts to enter the space had flopped. Faced with internal skepticism, Zhang took his executive team on a retreat to a remote forest resort. What happened during that critical retreat that convinced his team to go all-in on a new short video app? How did they design Douyin from the ground up to be a full-screen, immersive, and algorithmically perfect experience, learning from the mistakes of their past failures and competitors?

Read Story →12 min read
The Information Janitor: How Zhang Yiming's Quest for Efficiency Led to the Dawn of ByteDance
zhang-yiming

The Information Janitor: How Zhang Yiming's Quest for Efficiency Led to the Dawn of ByteDance

Before he built the global empire of TikTok, Zhang Yiming was a quiet but obsessive software engineer frustrated with the inefficiency of information. From his early days at the travel search startup Kuxun to founding his own real estate portal, 99fang, he was on a relentless quest to find better ways to connect people with relevant data. What was the core problem that fascinated him more than any single product? And what was the pivotal insight, born from the frustration of a chaotic apartment, that convinced him to bet everything on the power of algorithms, setting the stage for ByteDance?

Read Story →12 min read
The Quiet Architect: What the World Can Learn from Zhang Yiming
zhang-yiming

The Quiet Architect: What the World Can Learn from Zhang Yiming

Zhang Yiming is one of the most important but least understood entrepreneurs of his generation. Unlike his flamboyant contemporaries, he built a global empire not through charisma, but through code, logic, and a relentless focus on the long term. From his early obsession with information efficiency to his creation of a global cultural phenomenon with TikTok, his journey is a masterclass in modern entrepreneurship. What are the core, enduring lessons from his story? What does his success teach us about the power of introverted leadership, the importance of a global-first mindset, and the future of technology itself?

Read Story →10 min read
The Philanthropist of the Future: Zhang Yiming's Vision Beyond the Algorithm
zhang-yiming

The Philanthropist of the Future: Zhang Yiming's Vision Beyond the Algorithm

After stepping down as CEO, Zhang Yiming began to channel his immense wealth and intellectual curiosity toward philanthropy, but with a unique, forward-looking approach. He didn't just donate to traditional charities; he invested in the future of education and scientific innovation. This story explores Zhang's philanthropic vision, from his significant donations to his hometown to establish an education fund, to his interest in funding moonshot projects in life sciences and other deep-tech fields. How does his 'long-termist' view of business translate into his vision for social impact? And what does it reveal about his belief in technology's ultimate potential to solve humanity's biggest challenges?

Read Story →10 min read
The CEO Who Disappeared: Why Zhang Yiming Stepped Down at the Peak of His Power
zhang-yiming

The CEO Who Disappeared: Why Zhang Yiming Stepped Down at the Peak of His Power

In May 2021, Zhang Yiming did the unthinkable. At just 38 years old and at the helm of one of the most valuable and influential tech companies in the world, he announced he was stepping down as CEO. The news was a shock. Why would a founder walk away from the top job at the moment of his greatest triumph? This story explores the deep, personal reasons behind Zhang's decision—his self-professed lack of 'managerial' skills, his desire to be a 'scholar-like' long-term thinker, and the immense pressure of running a global company caught in a geopolitical vise. It was the ultimate act of 'Context, not Control'.

Read Story →11 min read
The Fight for TikTok: How Zhang Yiming Navigated a Geopolitical Firestorm
zhang-yiming

The Fight for TikTok: How Zhang Yiming Navigated a Geopolitical Firestorm

By 2020, TikTok was a global cultural force, but it was also caught in the crossfire of escalating tensions between the U.S. and China. Accused of being a threat to national security, the app faced the ultimate crisis: a forced sale or a complete ban in its largest market. How did the famously reserved and product-focused Zhang Yiming handle this unprecedented geopolitical battle? This story goes inside ByteDance during its most perilous moment, detailing the intense negotiations with the White House, the frantic search for an American buyer, and the high-stakes chess match Zhang had to play to save his company from being torn apart by global politics.

Read Story →13 min read
The 'Day One' Mentality: How Zhang Yiming's Global Ambition Fueled TikTok's World Conquest
zhang-yiming

The 'Day One' Mentality: How Zhang Yiming's Global Ambition Fueled TikTok's World Conquest

While Douyin was conquering China, Zhang Yiming was already playing a much bigger game. He knew that to win, ByteDance had to be a global company from 'day one.' In 2017, he made a daring, billion-dollar move to acquire Musical.ly, a nearly identical app that had already captured the Western youth market. Why did he buy his competitor instead of trying to beat them? How did ByteDance's ruthlessly efficient, data-driven culture manage the complex merger of two rival apps and supercharge TikTok's growth into a worldwide cultural phenomenon, leaving Silicon Valley giants scrambling to catch up?

Read Story →13 min read
The App with No Editors: How Zhang Yiming's Toutiao Defied Skeptics and Redefined the News
zhang-yiming

The App with No Editors: How Zhang Yiming's Toutiao Defied Skeptics and Redefined the News

In 2012, the idea of a news app without a single human editor was radical. Yet, this was Zhang Yiming's audacious bet with Jinri Toutiao ('Today's Headlines'). As portals like Sina and Sohu dominated the market with massive editorial teams, Zhang's small group of engineers set out to prove that an algorithm could be a better editor-in-chief. How did they design a system that could learn from a user's every tap and swipe? What were the crucial early days like, fighting for survival and legitimacy against industry giants? This is the story of how Toutiao's personalized feed became a 'time machine,' addicting millions and validating the core thesis of the entire ByteDance empire.

Read Story →11 min read
The Political Commissar: How Zhang Ying's Unwavering Belief Built Jack Ma's Empire
jack-ma

The Political Commissar: How Zhang Ying's Unwavering Belief Built Jack Ma's Empire

Everyone called him a 'fraud.' His own mother thought he was delusional. But his wife, Zhang Ying, made a bet that would change the course of internet history.

Read Story →22 min read
Legislating an Ideology: How the 'Huawei Basic Law' Laid the Cultural Cornerstone of a Global Empire
ren-zhengfei

Legislating an Ideology: How the 'Huawei Basic Law' Laid the Cultural Cornerstone of a Global Empire

In 1998, as Huawei's sales soared past ¥8.9 billion, Ren Zhengfei saw a huge hidden crisis: organizational expansion was diluting the company's core values. He took an unprecedented step in Chinese corporate history, spending millions to invite top scholars to legislate Huawei's 'ideology' and create a corporate 'constitution.' What did this 'Huawei Basic Law' actually say? And how did it shape the soul of Huawei?

Read Story →12 min read
Betting the Farm on R&D: The C&C08 Switch, Huawei's Life-or-Death Gamble
ren-zhengfei

Betting the Farm on R&D: The C&C08 Switch, Huawei's Life-or-Death Gamble

In the early 1990s, China's telecom market was firmly controlled by foreign giants. As a mere agent, Huawei could be cut off at any moment. Ren Zhengfei made a crazy decision: to pour everything the company had into developing its own program-controlled switch. It was a near-impossible task; failure meant utter ruin. How did they survive this high-stakes technological bet with almost no chance of survival?

Read Story →13 min read
Silicon Valley's 'Stranglehold': How Huawei Won Its Global Footing in a Lawsuit of the Century Against Cisco
ren-zhengfei

Silicon Valley's 'Stranglehold': How Huawei Won Its Global Footing in a Lawsuit of the Century Against Cisco

In January 2003, Cisco, in front of more than 20 global media outlets, flamboyantly announced it was suing Huawei for intellectual property infringement, intending to completely strangle the challenger from China in its cradle with a 'patent war.' Facing this devastating blow from a giant, almost everyone believed Huawei was doomed to lose. How did Ren Zhengfei and his team fight back from the brink in this lopsided legal war to ultimately win dignity and the market?

Read Story →14 min read
The All-Employee Ownership 'Utopia': How Ren Zhengfei Forged an Unbeatable Huawei Legion with Equity
ren-zhengfei

The All-Employee Ownership 'Utopia': How Ren Zhengfei Forged an Unbeatable Huawei Legion with Equity

Huawei is the only Fortune 500 company that is not publicly listed; it is 100% owned by its employees, with founder Ren Zhengfei holding only about 1%. This unique 'all-employee ownership' system has been controversial from the start, seen by outsiders as an unsustainable 'utopia.' Why did Ren Zhengfei design such a system of 'giving away wealth'? And how did it unite hundreds of thousands of employees into a powerful community of shared destiny with formidable combat strength?

Read Story →12 min read
The $7.5 Billion 'Jilting': Why Ren Zhengfei Abruptly Halted the Deal of the Century with Motorola
ren-zhengfei

The $7.5 Billion 'Jilting': Why Ren Zhengfei Abruptly Halted the Deal of the Century with Motorola

In 2003, during its 'winter,' Huawei reached a $7.5 billion acquisition agreement with mobile phone giant Motorola to sell its entire handset division. The deal would have made Huawei flush with cash overnight. Yet, at the last moment before signing, Ren Zhengfei suddenly backed out, unilaterally stopping the deal. Why did he give up this massive, easily obtainable sum? And how did this thrilling 'jilting' change the future of Huawei and the global mobile phone market?

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Wolf Pack Tactics: How Huawei Tore Through the Giants' Iron Curtain by 'Encircling the Cities from the Countryside'
ren-zhengfei

Wolf Pack Tactics: How Huawei Tore Through the Giants' Iron Curtain by 'Encircling the Cities from the Countryside'

Facing the mighty multinational giants, a fledgling Huawei was like an ant. Instead of a direct confrontation in heavily-defended cities, Ren Zhengfei devised a surprise strategy: 'encircling the cities from the countryside.' How did Huawei's sales team, like a wolf pack, use the most 'primitive' methods to crack the toughest nuts and ultimately overturn the entire market landscape?

Read Story →11 min read
Huawei's Winter: How Ren Zhengfei Saved a Multi-Billion Company with an 'Alarmist' Speech
ren-zhengfei

Huawei's Winter: How Ren Zhengfei Saved a Multi-Billion Company with an 'Alarmist' Speech

In 2000, the telecom industry was at the peak of the dot-com bubble, and Huawei's sales hit a record ¥22 billion. Everyone was singing praises. Yet, Ren Zhengfei, like a sentinel on a cliff's edge, delivered his famous speech, 'Huawei's Winter is Coming.' Why did he see crisis at the height of prosperity? And how did this 'alarmist' speech help Huawei safely navigate the unprecedented industry winter that followed?

Read Story →13 min read
Wolf Culture: How Ren Zhengfei Forged a Pack of 'Native Wolves' into a Fearsome Global Legion
ren-zhengfei

Wolf Culture: How Ren Zhengfei Forged a Pack of 'Native Wolves' into a Fearsome Global Legion

'Wolf Culture' is Huawei's most famous and controversial label. It refers to an extreme hunger for market opportunities, an indomitable offensive spirit, and a team-based hunting capability. How was this almost brutal philosophy of survival formed and executed within Huawei? And while it helped Huawei conquer new territories, what side effects and reflections has it brought?

Read Story →12 min read
The ¥21,000 Gamble: How Ren Zhengfei Ignited Huawei's First Flame in a 'Rotten-Tail' Building
ren-zhengfei

The ¥21,000 Gamble: How Ren Zhengfei Ignited Huawei's First Flame in a 'Rotten-Tail' Building

In 1987, a 43-year-old Ren Zhengfei was reeling from military layoffs, a failed business, divorce, and a staggering ¥2 million debt. With ¥21,000 in borrowed cash, he founded Huawei in a dilapidated, unfinished building. Why did this world-changing company have such a humble beginning? And how did a middle-aged man, pushed to the brink, manage to light the spark that would become a roaring fire?

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'When a Pig Gets Too Fat, It Can't Even Squeal': Why Ren Zhengfei Adamantly Refuses to Take Huawei Public
ren-zhengfei

'When a Pig Gets Too Fat, It Can't Even Squeal': Why Ren Zhengfei Adamantly Refuses to Take Huawei Public

For three decades, countless people have tried to persuade Ren Zhengfei to take Huawei public, creating a trillion-dollar capital myth and tens of thousands of millionaires overnight. Yet, he has flatly refused every time, even vowing that 'Huawei will never go public.' Why is he so resistant to the capital market? And what unique competitive advantages and strategic freedom has refusing an IPO won for Huawei?

Read Story →11 min read
The Birth of MIUI: Xiaomi's First 'Believers'
lei-jun

The Birth of MIUI: Xiaomi's First 'Believers'

Without a single physical phone, Xiaomi's first product was a mobile phone ROM called MIUI. How did Lei Jun and his team, with just an invisible piece of software, gain their first and most loyal 'believers' on various forums? And how did the story of these '100 dream sponsors' define Xiaomi's 'fan economy'?

Read Story →11 min read
The Joyo Regret: Lei Jun's First Painful Sale
lei-jun

The Joyo Regret: Lei Jun's First Painful Sale

In 2000, Lei Jun incubated Joyo.com within Kingsoft, which at one point became China's largest B2C e-commerce platform. Four years later, in the depths of a capital winter, he was forced to 'marry it off' to Amazon for $75 million. This was not a business transaction; it was a separation of 'flesh and blood.' Why does Lei Jun regard this venture as 'an eternal pain in his heart'?

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After Financial Freedom: Lei Jun's Angel Metamorphosis
lei-jun

After Financial Freedom: Lei Jun's Angel Metamorphosis

In 2007, after leading Kingsoft to its IPO, 38-year-old Lei Jun chose 'semi-retirement' and became an angel investor. In the three 'leisurely years' before founding Xiaomi, he invested in a series of star projects like UC and YY. How did this seemingly 'ethereal' experience complete his ultimate evolution from CEO to strategist?

Read Story →10 min read
'Are You OK?': Lei Jun's Indian 'Purgatory' and 'Ascension'
lei-jun

'Are You OK?': Lei Jun's Indian 'Purgatory' and 'Ascension'

In April 2015, in New Delhi, India, at the launch of the Mi 4i, Lei Jun greeted Indian Mi fans with his now-infamous 'Xiantao English.' A single phrase, 'Are you OK?', unexpectedly made him a top meme on Bilibili. Behind this much-parodied greeting lies a true story of blood and tears from Xiaomi's international expansion, a journey from falling into hell to fighting back from the brink.

Read Story →11 min read
The Billion-Yuan Bet: Lei Jun and Dong Mingzhu's 'Battle of Models'
lei-jun

The Billion-Yuan Bet: Lei Jun and Dong Mingzhu's 'Battle of Models'

In 2013, at a CCTV awards ceremony, Lei Jun and Dong Mingzhu made a 'billion-yuan bet' that shocked the nation. It wasn't just a personal spat but was seen as a showdown between the new internet tycoon and the queen of manufacturing, a 'battle of models' for the future of Chinese business. Five years later, what was the outcome? And who was the real winner?

Read Story →11 min read
From Xiantao to Mount Luojia: The Making of a Programming Legend
lei-jun

From Xiantao to Mount Luojia: The Making of a Programming Legend

In 1987, a young man from Xiantao, Hubei, entered Wuhan University. Two years later, he had not only completed all his credits, but a piece of his code was even written into a textbook. This isn't just a story about a top student; it's the first encounter between a future icon and the 'Fire in the Valley' burning within him.

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The ¥1999 Gamble: The 'Nuclear' Debut of the Xiaomi Phone
lei-jun

The ¥1999 Gamble: The 'Nuclear' Debut of the Xiaomi Phone

On August 16, 2011, Lei Jun, dressed in a Vancl T-shirt like a devout believer, launched the Xiaomi Phone 1. When the price of '¥1999' was dropped like a nuclear bomb on the stagnant mobile phone market, the entire audience erupted for a full half-minute. How was this history-making price born? And what was at stake in this high-stakes gamble?

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Five Broke Friends and a $60,000 Dream: How Ma Huateng Built a Trillion-Dollar Empire from Nothing

Five Broke Friends and a $60,000 Dream: How Ma Huateng Built a Trillion-Dollar Empire from Nothing

In 1998 Shenzhen, five young friends pooled together $60,000 and started what seemed like an impossible dream in a cramped office. This is how Tencent was born.

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The Golden Five: How Complementary Skills Built Tencent's Empire

The Golden Five: How Complementary Skills Built Tencent's Empire

In 1998, five young men pooled 500,000 yuan to start Tencent. With complementary skills and diverse personalities, they formed one of China's most successful startup teams.

Read Story →15 min read
The 60-Second Revolution: How WeChat's Voice Messages Changed Global Communication

The 60-Second Revolution: How WeChat's Voice Messages Changed Global Communication

In May 2011, WeChat 2.0 introduced voice messaging. This seemingly simple 60-second voice feature didn't just save WeChat—it revolutionized how billions of people communicate worldwide.

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The Email That Changed the World: How Allen Zhang's Late-Night Message Created WeChat

The Email That Changed the World: How Allen Zhang's Late-Night Message Created WeChat

Late one night in 2010, Allen Zhang saw Kik's explosive growth and sent Ma Huateng an email. That message didn't just birth WeChat—it changed how the world communicates.

Read Story →14 min read
The Birth of Alipay: Building a Bridge of Trust on the Edge of Compliance
jack-ma

The Birth of Alipay: Building a Bridge of Trust on the Edge of Compliance

When buyers on Taobao dared not pay and sellers dared not ship, a simple 'third-party escrow' idea was forcefully launched with almost no financial licenses and in a nearly 'primitive' way. How did this 'third hand,' later known as Alipay, pave its own road while running on the knife's edge of solving the trust problem?

Read Story →16 min read
The Great Leap: How Ma Huateng Led Tencent's Life-or-Death Mobile Transformation

The Great Leap: How Ma Huateng Led Tencent's Life-or-Death Mobile Transformation

In 2010, the mobile internet wave was rising. Tencent, the PC giant, faced a life-or-death choice: stay in their PC comfort zone or risk everything on the unknown mobile world? Ma Huateng's decision changed Tencent's destiny.

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Three Teams, One Winner: How Internal Competition Created WeChat's Mobile Dynasty

Three Teams, One Winner: How Internal Competition Created WeChat's Mobile Dynasty

In 2010, three Tencent teams simultaneously developed mobile messaging products. This internal horse race didn't just birth WeChat—it changed the entire mobile internet landscape.

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The Lakeview Apartment: 18 Founders and the Birth of Alibaba's Culture
jack-ma

The Lakeview Apartment: 18 Founders and the Birth of Alibaba's Culture

In the spring of 1999, in a small apartment in Hangzhou's Lakeview Garden, eighteen people, a few folding chairs, and a whiteboard established the company's earliest and most important rule: Customers first, employees second, shareholders third.

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The China Pages Gamble: Partnering with Hangzhou Telecom and Losing Control
jack-ma

The China Pages Gamble: Partnering with Hangzhou Telecom and Losing Control

In 1995, the partnership between China Pages and Hangzhou Telecom was like a key to the future, but also like a rope that slowly pulled the steering wheel from their hands. How did a series of seemingly minor concessions ultimately lead to a complete loss of control?

Read Story →13 min read
The B2B Cold Start: A War Fought with Free Listings and Cross-Time-Zone Calls
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The B2B Cold Start: A War Fought with Free Listings and Cross-Time-Zone Calls

From 1999 to 2000, in a small apartment in Hupan Garden, a tiny team faced the classic chicken-and-egg problem of a B2B marketplace. They used 'free' as their first bullet and 'cross-time-zone phone calls' as their second, and between a few old telephones and stacks of English templates, they painstakingly pulled global buyers to their screens.

Read Story →14 min read
The Virtual Gold Rush: How a Digital T-Shirt Saved Tencent from Bankruptcy

The Virtual Gold Rush: How a Digital T-Shirt Saved Tencent from Bankruptcy

In 2003, Tencent launched QQ Show, letting users buy clothes for virtual avatars. This seemingly absurd idea became the breakthrough that saved the company and created an entirely new business model.

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The SARS Quarantine: Taobao's Secret Birth
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The SARS Quarantine: Taobao's Secret Birth

In the spring of 2003, the SARS epidemic locked down cities and forced companies to work from home. At this moment when business had nearly ground to a halt, Jack Ma assembled a secret team that, operating under a strict wartime rhythm in a sealed-off apartment, quietly created Taobao.

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The Cramped Office That Built an Empire: How Five Friends Started Tencent in 20 Square Meters

The Cramped Office That Built an Empire: How Five Friends Started Tencent in 20 Square Meters

In 1998 Shenzhen, five young men crammed into a 20-square-meter office with secondhand desks and mismatched chairs. To save money, they often slept in the office. This was the humble beginning of the Tencent empire.

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The Million-User Nightmare: How Ma Huateng Almost Sold QQ for Pocket Change

The Million-User Nightmare: How Ma Huateng Almost Sold QQ for Pocket Change

In 2000, QQ had over a million users but was driving Tencent toward bankruptcy. Server costs were exploding, revenue was zero, and Ma Huateng desperately searched for buyers who didn't exist.

Read Story →13 min read
The Lawsuit That Created a Legend: How One Legal Threat Forced the Birth of QQ

The Lawsuit That Created a Legend: How One Legal Threat Forced the Birth of QQ

In 2000, just as OICQ was dominating China's market, a legal letter from America suddenly arrived, demanding an immediate name change. Ma Huateng faced a life-or-death decision.

Read Story →11 min read
The Six-Minute Bet: How Alibaba Used Discipline to Survive the Dot-Com Winter
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The Six-Minute Bet: How Alibaba Used Discipline to Survive the Dot-Com Winter

In the spring of 2000, a meeting so brief it was breathtaking resulted in a lifeline of funding. Yet, through the ensuing winter, they didn't follow the herd with mass layoffs. Instead, they used almost austere discipline and core values to forge a company into an army.

Read Story →15 min read
Taobao vs. eBay EachNet: A War for Hearts and Minds with a 'Free Forever' Strategy
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Taobao vs. eBay EachNet: A War for Hearts and Minds with a 'Free Forever' Strategy

While eBay EachNet built walls with portal ads and fees, Taobao threw 'Free Forever' and 'a marketplace where you can chat' into the ring. They rewrote the rules in plain language, measured customer service by the minute, and turned a website into a neighborhood.

Read Story →16 min read
The Seattle Spark: How a Blank Screen Ignited an Era
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The Seattle Spark: How a Blank Screen Ignited an Era

In 1995, a perilous business trip to the U.S. led Jack Ma to touch the internet for the first time in Seattle. A blank screen showing 'no data' completely altered the trajectory of his life, turning him from a translation agency owner into a pioneer venturing into the unknown digital wilderness.

Read Story →12 min read
The Six Vein Spirit Sword: How Alibaba Forged Its Backbone in 2001
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The Six Vein Spirit Sword: How Alibaba Forged Its Backbone in 2001

When the dot-com tide receded, the naked swimmers were exposed. In 2001, Alibaba chose to forge a backbone for its organization with an invisible sword called the 'Six Vein Spirit Sword': Customer First, Teamwork, Embrace Change, Integrity, Passion, and Professionalism. These six phrases transformed from slogans on a wall into the code of conduct and the basis for reward and punishment for every single person.

Read Story →14 min read
The Magic Box: Addiction, Controversy, and the Dark Side of the Blind Box Craze
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The Magic Box: Addiction, Controversy, and the Dark Side of the Blind Box Craze

Pop Mart's success was built on the powerful psychology of the blind box. But as the craze swept China, a darker side emerged. Critics and state media began to attack the model, accusing Pop Mart of encouraging gambling-like behavior and fostering an unhealthy, addictive consumer culture among young people. How did Wang Ning navigate this storm of controversy that threatened to bring down his entire empire? This is the story of the moral panic that surrounded the blind box phenomenon, and the company's struggle to defend its business model in the face of a growing public backlash.

Read Story →12 min read
The Business of Joy: Wang Ning's Philosophy of 'Spiritual Consumption'
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The Business of Joy: Wang Ning's Philosophy of 'Spiritual Consumption'

Why would millions of adults spend billions of dollars on small, plastic toys? Wang Ning's answer is that he is not selling toys at all. He is selling 'spiritual consumption,' a product that satisfies a deep emotional need for companionship, surprise, and joy in a lonely modern world. This is the story of Wang Ning's unconventional business philosophy. How does he see his company as a bridge between art and commerce? And how has his deep empathy for the emotional lives of his customers become Pop Mart's most powerful and defensible moat?

Read Story →11 min read
The Trendy Grocery Store That Sold Everything and Nothing
wang-ning

The Trendy Grocery Store That Sold Everything and Nothing

In 2010, a young Wang Ning opened the first Pop Mart in a Beijing mall with a simple vision: to create a store that sold all the cool, trendy things young people wanted. But this 'trendy grocery store' model was a disaster. The company was bleeding money, employees were quitting, and Wang Ning himself had to work as a cashier. What was the fatal flaw in his initial vision? This is the story of Pop Mart's difficult birth and the crucial, soul-searching years when its founder learned a hard lesson: a business that tries to be everything to everyone often ends up being nothing at all.

Read Story →11 min read
Taking the Magic Box Global: Pop Mart's Quest for World Domination
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Taking the Magic Box Global: Pop Mart's Quest for World Domination

After conquering the Chinese market, Wang Ning set his sights on a much bigger prize: the rest of the world. He believed that the appeal of his art toys was universal. This is the story of Pop Mart's ambitious and challenging global expansion. How did the company adapt its unique retail model for markets in Asia, Europe, and North America? And can the 'blind box' phenomenon, born in the specific cultural context of East Asia, truly capture the imagination of a global audience? It's a high-stakes bet that will determine if Pop Mart can make the leap from a Chinese success story to a truly global IP giant like Disney.

Read Story →11 min read
The $14 Billion Toy Story: Pop Mart's Blockbuster IPO
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The $14 Billion Toy Story: Pop Mart's Blockbuster IPO

In December 2020, Pop Mart went public on the Hong Kong Stock Exchange, and the result was stunning. The IPO was massively oversubscribed, and the stock price more than doubled on the first day, valuing the company at over $14 billion. How did a company that sells small, collectible toys achieve a valuation that rivaled that of established entertainment giants? This is the story of a perfectly timed IPO that captured the peak of the 'art toy' investment frenzy, and the moment Wang Ning, the young founder from Henan, became a multi-billionaire and the undisputed king of a new and powerful consumer trend.

Read Story →11 min read
The IP Factory: Wang Ning's Grand Ambition to Build a 'Disney for Adults'
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The IP Factory: Wang Ning's Grand Ambition to Build a 'Disney for Adults'

With the runaway success of Molly, Wang Ning had a winning formula. But a single hit character is not an enduring empire. Wang Ning's true ambition was to build a 'Disney for adults,' a company that could systematically create, acquire, and commercialize a vast portfolio of beloved characters. How did he build an 'IP factory,' an ecosystem of artists, designers, and manufacturing partners to fuel this dream? This is the story of Pop Mart's evolution from a one-hit-wonder into a mature, IP-driven entertainment company, a journey that reveals the founder's long-term, systematic vision.

Read Story →12 min read
The King of Joy: The Legacy and Lessons of Pop Mart Founder Wang Ning
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The King of Joy: The Legacy and Lessons of Pop Mart Founder Wang Ning

Wang Ning's journey is a modern business fairy tale. He transformed a struggling retail store into a multi-billion-dollar IP empire, and in the process, created an entirely new category of consumer culture. What is the enduring legacy of the 'King of Joy'? This final story explores the core principles of his success: his ability to see a massive opportunity in a niche subculture, his genius for combining art and commerce, and his profound understanding of the 'emotional consumption' needs of a new generation. It's a look at the lasting impact of a founder who built a kingdom on the simple, but powerful, business of selling happiness in a box.

Read Story →11 min read
The Molly Miracle: How a Grumpy, Pouty Doll Saved Pop Mart
wang-ning

The Molly Miracle: How a Grumpy, Pouty Doll Saved Pop Mart

After years of struggle, Wang Ning discovered a glimmer of hope in his sales data: the surprising popularity of 'blind box' toys. He decided to bet the entire company on this single idea. But he needed his own character, his own IP. How did he discover Molly, a quirky, pouty-lipped doll created by a Hong Kong artist, and recognize her billion-dollar potential? This is the story of the most important pivot in Pop Mart's history, the discovery of a character that would become a cultural icon, and the creation of a business model that would transform the toy industry.

Read Story →12 min read
The Robot Invasion: How Pop Mart's Vending Machines Conquered China
wang-ning

The Robot Invasion: How Pop Mart's Vending Machines Conquered China

How does a retail company scale its physical presence in hundreds of cities at lightning speed without spending a fortune on rent and staff? For Wang Ning and Pop Mart, the answer was the 'roboshop'—a smart vending machine for art toys. This is the story of a brilliant and unconventional retail strategy that allowed Pop Mart to place its products directly in the path of its target consumers, in subway stations, movie theaters, and shopping malls across China. It was a move that was cheaper, faster, and more data-driven than opening traditional stores, and it became a key engine of the company's explosive growth.

Read Story →11 min read
Beyond the Blind Box: Pop Mart's Leap into Theme Parks and Video Games
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Beyond the Blind Box: Pop Mart's Leap into Theme Parks and Video Games

Wang Ning's ambition to build the next Disney was never just about selling toys. It was about creating a universe. In 2023, Pop Mart took its biggest leap yet beyond retail, opening its first theme park in Beijing and launching its first mobile game. Why is the company investing hundreds of millions of dollars in these new, unproven ventures? This is the story of the next chapter in Pop Mart's evolution, a high-stakes move to transform its beloved toy characters into true, multi-platform entertainment icons. It's a bet that will determine if Pop Mart can become a genuine entertainment giant.

Read Story →11 min read
The CD-Burner Insight: How Richard Liu Spotted a High-Margin Niche in a Crowded Market

The CD-Burner Insight: How Richard Liu Spotted a High-Margin Niche in a Crowded Market

While everyone fought over low-margin computer parts, 24-year-old Richard Liu discovered a goldmine hiding in plain sight. This is the story of how he turned a simple observation into a business breakthrough that would fund his empire.

Read Story →12 min read
He Could Have Been a Top Programmer. Why Did He Choose to Sell CD-Burners in a Dusty Market Instead?

He Could Have Been a Top Programmer. Why Did He Choose to Sell CD-Burners in a Dusty Market Instead?

In 1998, 25-year-old Richard Liu stood at life's crossroads. With his skilled programming abilities, he could have easily become one of the era's most sought-after programmers. Instead, he chose to use his meager 12,000 yuan to rent a small counter in Zhongguancun and sell CD-burners. Why did this seemingly 'downward' choice create today's JD.com empire?

Read Story →12 min read
A Bowl of Congee: Lei Jun and His 'All-Star' Partners
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A Bowl of Congee: Lei Jun and His 'All-Star' Partners

On April 6, 2010, in a modest office in Beijing's Zhongguancun, 13 people and a pot of congee marked the birth of a company that would go on to completely change China's tech landscape. How did the 40-year-old Lei Jun, armed with his reputation and a dream, assemble one of the most star-studded founding teams in Chinese tech history?

Read Story →12 min read
The Fall of Pangu: Lei Jun's Multi-Million Dollar Waterloo
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The Fall of Pangu: Lei Jun's Multi-Million Dollar Waterloo

As the tide of Windows came crashing in, Kingsoft invested its entire fortune in the 'Pangu Office Suite,' developed by a team led by the 24-year-old Lei Jun. It was seen as the ultimate weapon against Microsoft, yet it ended in an epic failure. Why did this high-stakes gamble fail so spectacularly? And what excruciating lesson did it teach the young Lei Jun?

Read Story →11 min read
A Bet on the Next Era: Robin Li's Lonely 'All-in-AI' Self-Revolution
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A Bet on the Next Era: Robin Li's Lonely 'All-in-AI' Self-Revolution

In 2013, Baidu was in a 'period of confusion' during the mobile internet era. The growth of its search business began to slow, and doubts from the outside world were rampant. While everyone believed Baidu should focus on hot trends like O2O and news feed, Robin Li made a decision that unsettled both Wall Street and his own company: he bet Baidu's entire future on 'Artificial Intelligence,' a concept that seemed distant and ethereal at the time. How did this 'anti-consensus' gamble begin? And how did Robin Li persevere under the pressure of huge investments with no immediate monetization?

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The Moat of Knowledge: How Baidu Baike Secured Victory After Tieba
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The Moat of Knowledge: How Baidu Baike Secured Victory After Tieba

Following Baidu Tieba, Robin Li launched another 'heavyweight weapon': Baidu Baike. This was an online encyclopedia where users collaborated to edit content. While Google was still focused on using web crawlers to index 'existing information,' why did Baidu choose the harder, more tiring path of 'producing incremental information'? How did this seemingly thankless product work in tandem with Tieba to build an unassailable, deep content moat for Baidu that competitors could not cross?

Read Story →11 min read
The Ultimate Showdown: How Baidu Tieba's 'Dimensionality Reduction' Won the War with Google
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The Ultimate Showdown: How Baidu Tieba's 'Dimensionality Reduction' Won the War with Google

In 2003, Google's brand and technology reigned supreme in China, and Baidu seemed to have no chance. Yet, Robin Li quietly launched a 'counter-intuitive' product: Baidu Tieba (PostBar). This hybrid of search and social media was initially seen internally as a distraction. But this deceptively simple product became Baidu's 'nuclear weapon' against Google. How was it born? And how did it so precisely strike at Google's Achilles' heel?

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One Crazy Night: The Thrilling Story Behind Baidu's 354% NASDAQ Debut
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One Crazy Night: The Thrilling Story Behind Baidu's 354% NASDAQ Debut

On August 5, 2005, Baidu went public on NASDAQ. It was a loss-making Chinese company with an unproven business model, and Robin Li's team worried no one would buy the stock. Yet, from its opening at $27 to its close at $122, the stock price skyrocketed 354% in a single day, creating a global capital market legend. What happened during those frantic hours? And how did this market frenzy completely change the destiny of Robin Li and Baidu?

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Victory in the Gray Area: How Baidu MP3 Search Won a 'User-First' Gamble
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Victory in the Gray Area: How Baidu MP3 Search Won a 'User-First' Gamble

In 2002, Baidu was in a fierce battle with the giant Google in the Chinese market. Trailing badly in traffic, Robin Li approved the launch of a highly controversial feature: MP3 search. This function instantly turned Baidu into a 'music mecca' for young Chinese users, but it also plunged the company into a vortex of piracy accusations. Facing potential legal risks and moral condemnation from competitors, why did Li insist on this risky move? And how did this victory in a gray area help Baidu secure its market leadership?

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The Betrayal Gambit: Baidu's B2C Pivot Was a Gamble That Alienated Everyone
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The Betrayal Gambit: Baidu's B2C Pivot Was a Gamble That Alienated Everyone

In 2001, Baidu was a comfortable and profitable 'behind-the-scenes' search technology provider for portals like Sina and Sohu. But Robin Li made a decision that no shareholder or client could understand: he launched his own independent search engine, Baidu.com, turning from 'partner' to 'competitor.' Why did this 'suicidal' pivot provoke such a strong backlash from investors? Facing threats of divestment, how did Robin Li defy everyone and bet the entire company's fate?

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The Hotel Room 'Conspiracy': The $1.2M Founding Pact of Robin Li and Eric Xu
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The Hotel Room 'Conspiracy': The $1.2M Founding Pact of Robin Li and Eric Xu

Silicon Valley, 1999. Robin Li had world-class technology and a dream to change the Chinese internet, but he was missing two things: a co-founder and seed funding. How did he convince his best friend, a successful biochemist named Eric Xu, to give up everything and take a risky, uncertain venture with him back in China? And how did he raise a lifeline of $1.2 million from American VCs for a Chinese company that didn't even exist yet?

Read Story →12 min read
The Silicon Valley Epiphany: What Future Did Robin Li See at Infoseek?
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The Silicon Valley Epiphany: What Future Did Robin Li See at Infoseek?

In 1997, Robin Li joined Infoseek, one of Silicon Valley's hottest search engine companies. For the first time, he had his hands on the pulse of the internet's beating heart. Yet, the deeper he went into the industry's core, the more he felt a profound sense of both loss and opportunity. Why couldn't a top American search engine ever truly grasp the nuances of the Chinese-speaking world? How did this experience as an 'outsider' lead to his final resolve to build a dedicated gateway for the Chinese internet?

Read Story →11 min read
The Silent War: Robin Li's RankDex Patent, a Revolution Before Google
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The Silent War: Robin Li's RankDex Patent, a Revolution Before Google

In 1996, before Google even existed, a Chinese engineer working at a Dow Jones subsidiary in New Jersey quietly filed a patent for a search engine ranking algorithm called 'RankDex.' The core idea was nearly identical to Google's PageRank, which would become world-famous two years later. That engineer was Robin Li. Why didn't he use this world-changing technology to start a company in the US? And how did this 'shelved' patent become Baidu's core weapon in its future challenge against the giants?

Read Story →11 min read
Lost in the Library: How a Single Book Ignited Robin Li's Search Dream
robin-li

Lost in the Library: How a Single Book Ignited Robin Li's Search Dream

In 1987, a young man from Yangquan, Shanxi, stepped into the Peking University Library for the first time. Faced with a sea of books, he felt not the joy of knowledge, but the pain of being lost. Why did it take an entire afternoon to find a single book? How did this 'failed' search plant a seed in a 19-year-old's heart that would one day change the landscape of the Chinese internet?

Read Story →10 min read
From 12,000 Yuan to a $100 Billion Company: The Financial Gamble of JD's Founder

From 12,000 Yuan to a $100 Billion Company: The Financial Gamble of JD's Founder

How Richard Liu turned a 12,000 yuan electronics shop into JD.com, one of China's largest e-commerce companies, through decisive pivots during crisis moments.

Read Story →8 min read
Saved by SARS: How a Public Health Crisis Forced JD.com Online and Changed Everything

Saved by SARS: How a Public Health Crisis Forced JD.com Online and Changed Everything

In 2003, a deadly virus brought Beijing to a standstill, pushing Richard Liu's thriving electronics business to the brink of collapse. This is the story of how that crisis became the catalyst for one of China's greatest e-commerce empires.

Read Story →15 min read
The 3-Cent Startup: How Richard Liu's First Venture Was Copying Documents by Hand

The 3-Cent Startup: How Richard Liu's First Venture Was Copying Documents by Hand

In 1992, 19-year-old Richard Liu arrived in Beijing with 500 yuan and 76 boiled eggs. When the eggs ran out, this farm boy found his first job: hand-copying documents for companies that couldn't afford copying machines, earning 3 cents per page. This seemingly insignificant experience planted the seeds for his future business empire.

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The $30,000 Betrayal: How a Failed Restaurant and Crushing Debt Forged the Founder of JD.com

The $30,000 Betrayal: How a Failed Restaurant and Crushing Debt Forged the Founder of JD.com

In 1994, 21-year-old Richard Liu opened a restaurant in Beijing, only to watch employees embezzle funds and leave him bankrupt. How this devastating failure became the foundation of his billion-dollar empire.

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The Counter King: How Richard Liu Built a Tech Empire from a Tiny Booth

The Counter King: How Richard Liu Built a Tech Empire from a Tiny Booth

Discover how Richard Liu built JD.com from a tiny 4-square-meter booth into China's e-commerce giant by turning constraints into advantages and prioritizing authenticity over profits

Read Story →12 min read