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Rui Ma 马睿 Profile picture
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20 Dec, 5 tweets, 1 min read
Damn, China’s top livestreamer seller Viya has been fined $200mm USD in unpaid taxes and penalties. Is Austin (the guy who sold $1.9Bn back in October over 12 hours) next up? 👀
That was for 2019 and 2020. What I guess that shows is if her tax evasion pre penalties were at $110mm then she really is making as much as people thought 😂 also looks like since this is her first offense she gets a chance to pay off and not go to jail
Top comment:
Wang Leehom thanks you (for diverting the public’s attention away from his scandal)
Fan Bingbing thanks you (for showing she’s really far from the worst, her fine was $129mm)
This isn’t just idle gossip btw this has real business impact this is a woman who single-handedly did almost 10% of Alibaba’s Livestreaming GMV in 2020. If she’s banned …
Aaaand her accounts on all platforms have now been shut down.

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More from @ruima

Rui Ma 马睿 Profile picture
20 Oct
“What is success? It’s being like those Japanese corporations. They’re still alive and well even after many crises and close calls. That’s real success. Huawei hasn’t succeeded, all it’s done is grow.”
- Ren Zhengfei 4/24/2001 on the difference between growth and success
He believed that Huawei’s success isn’t to become a global company, but to survive in the face of all sorts of challenges and crises. A company that hasn’t gone through hard times is not qualified to be called successful.
… I guess he’s getting his wish.
He’s spent a lot of time studying Japanese companies. By 2015 there were 21666 Japanese companies that were at least 150 years old. In contrast, only 6 companies in China could claim such a feat.
Read 6 tweets
Rui Ma 马睿 Profile picture
10 Oct
My grandpa is 88 this year & worked in a factory in China his whole life. He gave me these last year, they’re his most prized possessions, tools he used at work for decades. He thought maybe my husband or I could use them. Didn’t have heart to tell him probably not.
He started off in Shanghai as an apprentice in a workshop in the late 40s, volunteered to go to Harbin (very cold city in northern China) soon after. He said they started off w nothing, had to build all their own housing, but was exciting bc felt they were building a new country.
When Cultural Revolution came, he was locked up and beaten like many others. Has lasting back issues that I believe has him in pain everyday today. Actually 3 out of 4 of my grandparents were locked up. I’m very lucky they all survived the ordeal. I know others not so lucky.
Read 7 tweets
Rui Ma 马睿 Profile picture
10 Oct
Chinese entrepreneurs talk a lot abt factors beyond self when discussing their success. Capital availability (both $ & human), infrastructure & market readiness (govt & biz). ByteDance & Pinduoduo founders attribute a lot of success to wave/timing/luck. How abt in your ecosystem?
Sometimes it's really just luck: ie Pinduoduo founder has said if WeChat hadn't done their red packet campaign before PDD's launch, the app would not have grown as quickly from the spare change in ppl's digital wallets. PDD was perfect use case.
But mostly it's abt riding the right wave, as ByteDance founder did, resolutely quitting his real estate startup that was doing fine in 2011 bc he believed surging mobile adoption was opening up chance to build a much broader platform, not a vertical app.
Read 4 tweets
Rui Ma 马睿 Profile picture
1 Sep
I'm honestly surprised by how many parents (Western & Chinese) are supportive of the gaming restrictions on minors. I guess? I did play 000s of hours of Diablo2, Everquest, Starcraft in college. It was mostly during my year off & was lucky I didn't flunk out! But then again ...
surely I would've done better in school if it was more tied to my interests (which was a lot of videogaming, at the time). That was even subject of my TEDx talk where I said if the Berkeley CS class where you program a bot to play SC existed in my time, I would've studied more!!
Not a parent yet but looking at how much Dota2 my husband continues to play (& watch streams for) I'm pretty sure in this household the rule when we have kids isn't going to have 3hrs as upper bound. What was wrong w the an hour a day rule?
Read 4 tweets
Rui Ma 马睿 Profile picture
24 Aug
Since Q4 2020 Pinduoduo has rebranded its corporate identity to be “mobile-only marketplace that connects millions of agricultural producers with consumers” vs before: “platform that provides buyers with value-for-money merchandise and fun and interactive shopping experiences.”
What is the contribution from agriculture currently? What do you think, accurate description or aspirational? Alibaba & JD been working on it much longer …
You don’t need to have the app installed or WeChat in order to see what is currently being promoted (altho of course it’s not personalized). Not many agricultural products 🤔

m.pinduoduo.com
Read 4 tweets
Rui Ma 马睿 Profile picture
5 Aug
Highlight of this summer so far was yesterday (7 hours!) spent listening to Peter Kaufman, CEO of Glenair & editor of Poor Charlie's Almanac on life & business. Many of you are already very familiar with Uncle Peter's teachings, but I still want to share a few learnings.
Uncle Peter talked about the importance of hobbies. In fact it is the 7th rung of his Ladder of Balance:
1. health & fitness
2. family
3. friends
4. career
5. community
6. spirituality
7. hobbies

Paradoxically, being all in on balance gives you best results on any one rung.
I have found that to be true as I've become more balanced in my endeavors over time. There's no going back and making up for lost relationships, and a lot of valuable skills take patience to acquire.

PATIENCE, another Uncle Peter emphasis. I am definitely working on it 🙂
Read 10 tweets

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