Dialogue Wang Xing: Most people understand the business war is wrong

The US group commented into too many business areas, and thus set up too many enemies. In this regard, Wang Xing said that too much thinking about the boundaries and the final situation is wrong, and everyone must accept the competition is the new normal.

Caijing reporter Song Wei / Wen

The more you do, the more enemies you have.

For this sentence, the US group comments may have a deep understanding. The company used to be a group buying company, and later it became a company that sold movie tickets. It was also considered a takeaway company, a catering company or a travel company, and recently it entered the taxi market and the payment market. It even opened offline retail stores. It has entered too many fields, so that it is difficult for you to accurately describe what company the US group is. The only certainty is that it continues to expand and attack everywhere. Its opponents include China's most powerful Internet giant, the most star-based startups and some established Internet listed companies, and every once in a while, opponents are concentrated. Question it.

This company does not seem to be in the war, in fact, it does a good job in every field it enters. The US group commented that the annual transaction volume in 2016 was RMB 240 billion, an increase of 50% over the same period in 2015. They expect the transaction volume in 2017 to reach 360 billion. In the past May, the company has gone from loss to overall profit, and currently has 20 billion yuan in cash.

In the Chinese Internet, the US Mission is a special company. A large number of companies start to grow from vertical areas and then continue to expand, so they are inevitably starting from industry thinking and thinking more about the final and boundaries. The US group comment is to use a link in the business flow as its own core - this kernel is a transaction from a commercial point of view; from the customer's point of view, it is a service. Its business is horizontal, so Wang Xing's thinking is not the same as most CEOs, he is more general, cross-border thinking. For example, his views on business and competition, he believes that do not expect a single big, do not expect to end the war, everyone must accept the competition is the new normal, at the same time, he thinks too much thinking about the boundaries and the final is wrong," What is the real end?" he said.

In May of this year, the US delegation commented on Wang Xing, who accepted an exclusive interview with Caijing magazine. It has been a year and a half since the last interview with Caijing magazine. A closer comparison reveals that he and his thoughts on many issues have changed a year and a half ago.

The following is a partial excerpt from the interview.

Enemy and friends

"China's relationship between the two super-masters of the United States and the Soviet Union in the past few decades is a bit like that of today's US Mission between Tencent and Ali."

Caijing: Have you seen a series of reports on the US group comments recently?

Wang Xing: There are some readings, certainly not all.

Caijing: Do you think these reports are neutral, or do you have a position in the black?

Wang Xing: There are some relatively neutral, some are very malicious, and there is very no bottom line.

Caijing: If a competitor continues to black you, and you know who it is, what do you do?

Wang Xing: I will communicate with each other, but this often does not solve the problem. I remember reading an article about Time magazine or The New York Times written on Amazon about 05 years ago. I started to say that this company has been a stumble plane for more than a decade. Finally, it is pulled up or falls. People know. But ten years later, everyone knows how powerful and far-sighted Amazon is. So some doubts are normal. I am against those lie that are downright and almost personal.

"Finance": Some people joked that half of the Internet is the enemy of the US group.

Wang Xing: Quantity is not a problem. We are a customer-centric company, we are never meant to be with others (become an enemy). In the case of an opponent, like driving a car, you have to look at the rearview mirror occasionally, but you can't stare at the rearview mirror and drive.

Caijing: Most outstanding companies are customer-centric, but they are often on a main runway, or two.

Wang Xing: Of course not. Amazon once did mobile phones, they also did search, Prime, they are also considered to be the strongest competitor of NETF lix. They are also a very comprehensive competition.

Caijing: What is an enemy in your eyes? What are friends?

Wang Xing: I don't like the enemy very much. I would rather say it is - a peer company. A friend is a company that can work with us.

Caijing: Who is your friend in the Internet circle?

Wang Xing: Tencent. At the same time it is also a very important shareholder of us.

Caijing: Who are the most respected opponents you have ever met?

Wang Xing: You value his combat effectiveness and you respect him and think that he has a competitive spirit. It is a different matter. Therefore, Mao Zedong said that in strategy, you must despise all opponents and pay attention to all opponents in tactics. From the point of view of combat effectiveness, Ali is very strong, but if they do a more basic line in all aspects, I will respect them more.

"Finance": Ali and Tencent are the shareholders of the US Mission, will it be easier to get along with Tencent than to get along with Ali?

Wang Xing: Can't say simple or easy. But whether it is the personality of the founder, the temperament of the whole team, or the business strategy, Tencent is better able to form alliances with others.

"Finance": In the merger of the US Mission and the review, it is said that you and Tencent joined forces to ask Ali to go out.

Wang Xing: This is a misunderstanding. In fact, after the merger of the US group comments in October 2015, I also went to visit Ma Yun and Xiaoyao. I think there is a successful example of Didi's fast--the original two A and T played indiscriminately, and the latter shook hands and said, they became the shareholders of Didi. So I told Ali that the US group hopes to get the support of Tencent and Ali at the same time, but they said: "You are completely wrong. We think that the merger of Didi is a failure example for Ali. We will not let This error happens again."

Caijing: How did you answer it at the time?

Wang Xing: I said that Tencent has promised to invest further in the US group. Ali said that we can invest money for you. You have to spend $1 billion, and $2 billion. We can all vote, but you can't afford Tencent. However, Tencent is also a very important shareholder and a friendly friend, so I don't think so.

Caijing: I heard that Ali still does not sell all the shares in the US group.

Wang Xing: There is still a little left. It sold our old stocks last year to disrupt our financing. If you are not optimistic about this company, then simply sell out, we have helped them find a good buyer. But he refused to sell the light, he must stay a little, perhaps in order to continue to create trouble for us in the future.

Caijing: What is the impact of the bad relationship with Alibaba on the US group?

Wang Xing: It will face greater competitive pressure. For example, Ali, in order to create trouble for us, at any cost to support hungry, they spent a billion dollars a year. But in the end, it depends on who can provide better service to consumers, otherwise even if you burn a billion dollars, the market share is still falling.

Caijing: Does this mean that you have never been able to win a monopoly advantage in the field of take-away?

Wang Xing: This is a misunderstanding of the majority. We should not try to pursue a monopoly. The competition with Ali will exist for a long time.

I and many people have passed the "4321", and many sub-areas will experience more than 4, 4 into 3, 3 into 2. More than 4 is like a hundred regiments, a hundred cars, a hundred wars, when a new opportunity arises, a bunch of people rushed up, there may be four initial wins after a period of melee, usually BA T plus the winner in the startup For example, the situation faced by today's headlines today. But this is not a stable structure, so there will be 4 in 3, 3 into 2, such as Baidu takeaway first out. Unless there is a strong network-wide business like WeChat, there will be no one in many areas. There are always consumers who like different brands, Coca-Cola or Pepsi, Nike or Adi. Companies don't want to have only one supplier. I think two of them are normal.

Caijing: Your colleague Wang Huiwen said that the US group wants to be Russia and survive in places where others cannot survive.

Wang Xing: All analogies are limited. I will compare the US group reviews to China. Ali and Tencent both like to compare themselves with the United States. I think Tencent is more like the United States. In the past few decades, China’s relationship between the two super-masters of the United States and the Soviet Union is a bit like today’s US group reviews. Between Tencent and Ali.

Competition and cooperation

"We can't burn the market by burning money."

"Finance": Why the US Mission commented on doing a taxi?

Wang Xing: On the one hand, the existing network car can not fully meet the needs of users. On the other hand, this is the loCAT ion based service. The business characteristics of the group are very location-related. Either the location of the service provider or the location of the service demander. Based on this logic, Uber also has both a taxi and a take-out. Uber has more than 20% of orders worldwide. At the moment we have only sent a small team to try this city in Nanjing. Not only do taxis, but we are still trying a lot of other things.

Caijing: You once said that one of the logics of the US group to do taxis is based on user needs. Users need to travel to the restaurant and need to take a taxi. Users who can take a taxi may also need to watch Taobao. Why don't you do Taobao?

Wang Xing: Don't you think the association will be farther? Of course, we also do new retail, we will soon open the store online. Our choice of business is related to customer needs and business capabilities. The ability to pick up cars and takeaways is very similar—combined under the partial line, distributed in various cities, using the Internet to enhance the experience and reduce costs.

Caijing: Will it burn a lot of money to do a taxi?

Wang Xing: You have to understand what the purpose of doing and not doing is, rather than simply saying and not doing. The money was burned in the past to educate passengers, drivers and popularize mobile payments. Now this is all done. Moreover, we can't rely on burning money to win, but should provide a better B-end, C-end experience, and better product combination, and then let consumers make choices.

"Finance": How likely is the US group comment to be the first in the taxi market?

Wang Xing: This is not our goal. In fact, at least two participants in an industry should be both competitive and cooperative, which will be better for users and businesses.

Caijing: Why not choose to cooperate with Didi?

Wang Xing: We have cooperated in the review, but after we piloted in Nanjing, Didi took the initiative to break the cooperation. In fact, if the drop is to be open, we are willing to continue to cooperate. I think everyone has to accept that competition is the norm in the future, the new normal.

"Finance": The US Mission is also making payments, will it compete with WeChat payment in the future?

Wang Xing: I don't think we will compete directly with WeChat Pay or Alipay on the C side. It is a battle that has ended. But the US group comment is born to be a trading platform. At the merchant's end, because we have cooperated with three or four million merchants, we will pay more to help merchants.

Caijing: When a user uses the public comment, the first column of the payment method defaults to the bank card payment, the second column is the WeChat payment, and the Alipay is folded.

Wang Xing: Which payment instrument is at the top depends mainly on which payment tool the user used last time. We did not completely remove Alipay, but the rate of Alipay was unreasonably high.

Caijing: Some people have commented that you are a person who is not good at cooperation.

Wang Xing: See what level of cooperation. We don't open restaurants ourselves, don't open hotels, don't open cinemas, we work with three or four million merchants. Not everyone is as deeply convinced that we are customer-centric, and the key is what is right for the customer.

Focus and diversity

"In the first half of the technological revolution, the risks are very large, so we need to use small teams to explore. But in the second half, the dividends become smaller, and integration becomes the way to release dividends. At this time, multi-business companies will have more than single-business companies. Advantage."

Caijing: What is the logic of the US delegation to open a new business?

Wang Xing: Our mission is "We help people eat better, Live better". Chinese is: Let everyone eat better and live better. Under this mission, we believe that whatever happens in the end, we will choose the right angle to enter. At this stage, the US group comment is an expansion state.

Caijing: Where is the business boundary of the US Mission? Still no boundaries at all?

Wang Xing: Too many people pay attention to the border and not to the core. You can understand the boundary as gravitation. Every object, because of its mass, will produce gravity and affect all other substances. The difference is that the farther away from the core, the smaller the influence, or the smaller the quality of itself, the smaller the influence.

There is no simple boundary for everything, so I don't think I have to set limits for myself. As long as the core is clear - who do we serve? What services are offered to them? We will continue to try various businesses.

Caijing: What do you think is the relationship between diversity and concentration?

Wang Xing: I spent a lot of time thinking about this. In the first half of the technological revolution, because the risk is very large, it is necessary to explore with a small team. But in the second half, the dividends became smaller and integration became the way to release the bonus. At this time, a multi-business company will have an advantage over a single business company.

"Finance": The US group commented on various businesses such as takeaways, wine tours, taxis, restaurants, movie tickets, etc. Why do you do so many businesses at the same time, instead of deepening and infiltrating a business?

Wang Xing: For example, the most important decision of Taobao in 2003 and 2004 was to make a big platform for selling everything, instead of focusing on a women's category or home appliance category. If the US team only focuses on making movie tickets, it is impossible to win.

Caijing: Do you have the ability to support so many businesses at the same time?

Wang Xing: I don’t know if you try this border. How to judge whether a company has the ability to support more business? The only test is to see how well each business is doing. At present, our business operations are very good, and we have enough cash reserves - 20 billion in cash.

We are the first in the field of take-out, accounting for about 56% of the market, and our efficiency is much higher than our competitors. Shop catering and cat eye movies are the first in the industry. In the wine business, our number of nights has exceeded Ctrip. It is estimated that it will take another 1-2 years. We will exceed the number of nights in the entire Ctrip plus eLong. There is also a catering eco-platform that we are currently focusing on, but it is still very early, and the first and second discussions are of little significance.

Caijing: But you are constantly increasing your enemies while experimenting with this boundary.

Wang Xing: The ancients said, "From the moment of returning, although thousands of people, I am going to swear!" First of all, we have to ask ourselves whether it is right, if it is right, we should do it, even if the opponent is like Lin, we still have to turn back. .

Caijing: How to spend 20 billion in cash? Are we still continuing to raise funds?

Wang Xing: Catering is the top priority. We have not started a new round of financing, but some shareholders are collecting our old shares.

Caijing: When can a takeaway no longer lose money?

Wang Xing: The loss will continue for a long time, because it still requires a lot of investment, and there are still many renovation work to be done.

"Finance": How many years does the US group's current business have to end the battle?

Wang Xing: When our market penetration rate exceeds 50%, it is difficult to be turned over without making stupid mistakes. We hope that each field will be number one, at least to ensure the second. But we do not expect to completely destroy the enemy. It is the new normal that everyone will accept the competition in the second half.

"Finance": The industry questioned that the various businesses of the US Mission can not see the end of the game, and can not see the possibility of scale profit.

Wang Xing: We just achieved an overall breakeven last month. If we don't open up new business, we can make a profit after one year, but I don't think short-term profit is our goal. In fact, whether it is discussing the boundary or discussing the final situation is a kind of thinking, but it is not the only point of thinking. Where is the real end? The final game was originally a term for playing chess, but the reality is that the board is still expanding.

Caijing: Does the expansion of multi-business bring insecurities?

Wang Xing: Keep growing to gain a sense of security.

Caijing: From a strategic perspective, what the US regiment does first, what to do later, what to do, and what to do.

Wang Xing: First, to further expand the scale of the people we serve. There are 700 million Internet users in China. We have 240 million active buyers now, and there are 450 million active buyers in Ali. So we have two to three times the room for growth. On the other hand, we have to "go to heaven, to the ground." In the long run, if the US group only makes a very shallow connection, it is worthless.

So we are doing deeper connections in all vertical industries. In the catering, we provide the information first, then provide the transaction, and then provide the delivery. We are now also providing the ERP system to the restaurant owner, we will go to the B side and get deeper. I think this is not only what the US group should do. All companies that try to have long-term value should do it. Pure C-side, pure connection, Tencent alone will do.

Caijing: Is it possible to create a BAT mass company in the field of life services?

Wang Xing: The matter of light dining is as big as Taobao. Looking at search today is a huge way to make money, but before it makes money, everyone thinks it is a silly business, and Yahoo obviously thinks so. Everyone is too easy to set limits. I always see that this is the largest, the same or the smaller one. Everyone did not expect this to be an intermediate stage of transition to a larger number of levels.

Caijing: So you think that the US group will become a BAT company.

Wang Xing: B and A, T are not an order of magnitude. The US group has the opportunity to become a company of magnitude A and T. Because we create enough value, each area of ​​catering, tourism, and store-to-store categories can be worth tens of billions of dollars. But the time required is not short, at least five to ten years.

Caijing: What is the core value of the US Mission in business?

Wang Xing: The core value is our company's mission "We helPP eople eat better, livebetter". We let everyone eat better and live better. Everyone is used to measuring the value of a company with tools, portals, platforms, etc. This is actually a language-to-human imprisonment. The value of a company ultimately depends on how many people you serve and how much value you create for them. Others are virtual.

It is very difficult to correctly define and understand a new thing. You created it, but it is difficult to get people to accept a concept that didn't exist. In the past, everything was done first in the United States. Everyone just said that I was China’s XX. BAT is the same, and Didi is the same. But the United States does not have a single company against the United States, and the United States does not have a single company with a headline.

Caijing: Putting together multiple business models, is this called creation?

Wang Xing: We have also changed the way we use it. We have changed the way and way people eat, and the business of millions of restaurants will change a lot. In fact, nothing in the world is inherently new, but the way is new.

Caijing: What kind of company do you want to make the US group ultimately?

Wang Xing: A company that has long been patient and growing. A German thinker once said that writers can be divided into three categories - meteors, planets, stars. The book is so, even more so in this era, since the media, the public number, the company, most of them are like meteors, very gorgeous, but a meteor burned out after burning; the planet can exist for a long time, but it will not shine by itself; the star will Luminescence, while it is not the same as the way the meteor shines, the meteor is burned, the star is nuclear fusion, so the star must be large enough.

We are trying to become a star. The US group has only been 7 years old, and the public comment has only been 14 years. We are just getting started.

Caijing: Do you think that the US group is irreplaceable to users?

Wang Xing: On the one hand, we think that there is no specific level, and there will be no other companies that can do our work completely. On the other hand, nothing in this world is irreplaceable except for the world itself.

"Finance": I feel that the business of the US Mission is going up a step, but it is in crisis.

Wang Xing: My understanding of the crisis is that we have a problem, but in fact this problem is the process of encountering the next problem. Born in sorrow and died in peace, we are still far from being able to be happy.

Attack and waiting

"You are doing well enough to make yourself invincible, but that doesn't mean you can win. Only when your opponents do stupid things, you can win."

Caijing: How do you understand "battle"?

Wang Xing: I have read a book written by the US commander of the retired special forces. The title of the book is "mission, menand me". Mission is the mission, men is the team, and finally is himself. The battle I understand is mission, men, me.

"Finance": Some people commented that the US group was waiting for success when the group was fighting in the Thousand Regiment and when they first entered the wine brigade when others were fighting to burn money.

Wang Xing: An investor who participated in the counter-attack war against Vietnam has told me that most people understand the war is wrong. War is not composed of hard work and sacrifice, but is composed of patience and suffering. "Sun Tzu's Art of War" said that "you can't win in yourself, you can win in the enemy." It is true that the group buying is not for us to win, not that we have defeated our opponents, and they have stumbled on their own.

Caijing: In addition to waiting, what has the US Mission done in several key battles?

Wang Xing: We have positive patience. For example, before the admission, Ctrip had only a few tens of thousands of hotels, and hundreds of thousands had not yet signed, we went. When users migrate from a PC to a mobile phone, we provide a better way for users to use it. At the same time, we were IT-oriented at the beginning, and the service cost per order was much lower than that of Ctrip. So, understanding that customer focus is the essence and key to understanding the business.

"Sun Tzu's Art of War" also has a sentence "Winning is known, not can be", you are doing well enough to make yourself invincible, but this does not mean that you can win, only when your opponents do stupid things You can win. For example, how do you feel where you lost? Because they are not patient enough.

Caijing: What is the most fearful in the competition?

Wang Xing: I am afraid that I will slack off.

Caijing: The US regiment has a team to push the Iron Army, a team that can fight on the streets and hungry, and you seem to have a weak attack. Do you really like and recognize this iron army culture?

Wang Xing: We educate our employees to be very modest. We are not a fight company. We are not trying to get rid of some people. Combat is a means and a way for me to be staged.

Many people say that I am weakly attacked. Not only is my attack less high, but our executives seem to be weakly aggressive, but this is not the point. For example, Marshall, a famous military strategist in the history of the United States, has never been on the battlefield, but he has made many correct decisions, such as the rapid expansion of the US military in the outbreak of World War II, the substitution of the substitution, and even the subordinates to the superior. Is his own combat effectiveness and aggressiveness strong? It may not be, but it does not prevent him from becoming the highest commander of the biggest winner in the greatest war in human history.

Democracy and decision making

"If someone does not approve, he can not join the company, we do not need to please everyone."

Caijing: How does the US Mission make decisions? Take-out, taxi, this new business, how long did you decide to do it?

Wang Xing: For example, a photographer won a gold medal in the competition. How long did it take him to take a photo shoot? Maybe it only takes 0.001 seconds to press the shutter, but he spent 10 years trying to find this opportunity. The same is true for us to make decisions.

Caijing: Your colleague said that you have thought about it for a whole year with the words "eat better, live better".

Wang Xing: I always spend a lot of time thinking about many problems at the same time. I like to jump around in the question. And the issue of "mission" is so difficult that only a few companies in the world have correctly defined their mission.

Caijing: What dimensions did you think at the time?

Wang Xing: What we do, what I believe. I believe in eternal things. I hope that the mission will be as clear as the Polaris and guide you to keep working hard, so we must establish a grand enough ultimate goal, "Live better." But at the same time your mission must be clear and specific, and the closest thing to us is "Eat better."

Caijing: Your senior executive said that you made decisions very slowly.

Wang Xing: It has something to do with my way of thinking. It is also related to my ability to adjust my responsibilities as much as possible. I should make a few big decisions, not a lot of decisions quickly.

Caijing: The decision is slow, there are no real regrets and missed things.

Wang Xing: Many entrepreneurs think that he missed many entrepreneurial opportunities, but in fact it is not his chance.

Caijing: Your employees say that when they ask you how to solve a problem, they want an answer, but you always give them a method.

Wang Xing: When I think that one thing is important and can help them grow, I will tend to give them a way to think instead of answering. Because my speed is fast, the quality of decision-making is high, and the things that can be done are limited.

Caijing: But if you give employees a syllogism, will they really think about it?

Wang Xing: Some people will have, some will not.

Caijing: If the middle level is looking for you, what will you do?

Wang Xing: I will understand the situation, but I will not make decisions directly.

Caijing: Your management complained that you are sometimes too democratic.

Wang Xing: There is no question of democracy in the company's decision-making, but the issue of participation. I think that the management style of the US group cannot be called "democracy", but everyone is widely involved. Of course, on the issues of mission and values, I don't think we have to rely on democracy to make decisions.

Caijing: Does democracy make many employees feel awkward?

Wang Xing: Of course, let alone democracy. Many people even fear freedom, because freedom means responsibility. Liberty means responsibility,thatiswhy most peopledread it.

Caijing: You have a well-known saying that most people are willing to do anything in order to avoid thinking. Since you know this, why do you want democracy?

Wang Xing: We are willing to repeatedly screen and repeatedly train a few people who are willing to think. If someone does not approve, he can not join the company, we do not need to please everyone.

Management and trust

"The company culture is like the Greek mythology of Sisyphus. You have to push the stone up, it will fall, you push it up again, it will fall again. This is a very difficult process."

Caijing: How many people do you directly control now?

Wang Xing: 11

Caijing: How many people are there in the company?

Wang Xing: 31,000, we just merged with 3.5 and 36,000. It took us a year to shrink to 31,000.

Caijing: How is the size of the staff so large?

Wang Xing: 31,000 is actually not a big company in China. In fact, you have 3,000 people, 30,000 people, and 300,000 people. For the CEO, the people you directly manage will not change much.

"Finance": The recent recruitment storm of the US Mission, a project leader said that it does not recruit people from the Northeast and Huangpan District. Is this a problem in management?

Wang Xing: The recruitment requirement is too exaggerated. The person is not HR. He can have his own personal views, but his personal opinion does not represent the company's position. The management of all companies is always a problem. Just like the human body, there are always various bacteria, viruses and cancer cells in the body. The key is whether you can solve these problems in time.

Caijing: Is the best solution to dismissal? If the outside world does not know, will it still be dismissed?

Wang Xing: Seeing what kind of impact the whole thing brings, in fact, this has a great impact on employees. He is ridiculous, for example, he does not recruit Northeasters, but you see Wang Huiwen as a Northeaster.

Caijing: Many executives of the US group are your classmates. Some people comment on this because you are not easy to believe people.

Wang Xing: Is it not natural for the students to be in the early stage of the business? Google is two students to start a business, Yahoo is two students to start a business, Microsoft is also. I started my business when I left school. I don’t know anyone, I only know my classmates. Of course, the senior management team has long been more than just a classmate. There are senior executives of the original US group, executives who have been reviewed by the original, and excellent peers from Tencent, Baidu and other companies.

Caijing: How to help executives grow?

Wang Xing: The word TOP can be broken down into three words—talent, opportunity, patience. This person needs to be talented, talented, have the right opportunity, and have long-term patience to grow up. Of course I think I am really lucky.

On the other hand, because the company's business is complex enough, complete enough, and new business is enough, management has the opportunity to be as close to the essence of business as the CEO, thinking about the core issues.

Caijing: Does your middle and high level understand and recognize the company's strategy clearly? If you don't understand, how can I solve this problem?

Wang Xing: I want every employee to understand the company's mission and strategic direction. It is necessary to break down the strategy and convey it down. We are working hard in this direction, and this is the only viable way.

Caijing: In the past year, what do you think is the biggest improvement for yourself as a manager?

Wang Xing: I am more consciously thinking about long-term issues.

Caijing: What is the biggest challenge in management at present?

Wang Xing: The issue of corporate culture. Corporate culture is the projection and extension of the founder, the more it is in the early days. Tsinghua hopes that its students will have "sound personality, generous foundation, innovative thinking, global vision and social responsibility" after graduation. I agree that I am the founder of this company, either fast or slow, or sooner or later, this company will Like me. But if you don't do well, there will be faults and deformations.

Caijing: In what ways does the fault and deformation occur now?

Wang Xing: The overall and internal and external communication has not been done enough. The company culture is like the Greek mythology of Sisyphus. You have to push the stone up, it will fall, you push it up again, it will fall again. This is a very difficult process, but it is. Culture is also a matter of no end, and I feel that it is wrong to think too much about the end.

Thinking and expression

"The worst thing is that a company sets a goal, but it doesn't really work, because that strategic positioning is wrong at first."

Caijing: What books are you reading recently?

Wang Xing: I haven't finished reading the book about World War I. I have been reading the book since the 100th anniversary of the First World War. Now I have not finished reading it.

Caijing: A friend who has known you for a long time said that you feel more and more aggressive.

Wang Xing: Okay.

Caijing: Have you ever played?

Wang Xing: I played in the first and second grades of elementary school. At that time, the boy used the fight to determine the leadership position. I was very thin when I was young, but I was very strong. I have never played a fight since I was an adult.

Caijing: Did your ideals as a child be realized?

Wang Xing: When I was young, I didn't have a clear single ideal. I have an idea in recent years, and I will call it the Earth Representative Plan for the time being. Suppose one day we are going to open a meeting of the Milky Way, and I want to be the only representative of the Earth to attend this meeting. How do I introduce the earth with aliens? At that time, I should have seen the most magnificent natural scenery and the most prosperous city on the planet. I have tasted the best food, literature and music, and have touched the essence of human civilization as much as possible. Of course, business is also a very important force on the planet.

Caijing: The longest thing ever done, what else besides entrepreneurship?

Wang Xing: Living is the longest thing a person does. Live, then think, then start a business. I really like the saying that Qian Mu "has not gone in the past, the future has come." I think the longest thing, one is what you do, when it started, and how long it is. The other is how far you can influence what you think. Therefore, we strive to make the US group review a permanent company.

Caijing: I heard that you have recently created a word?

Wang Xing: Look. Because the worst thing I found was that a company set a goal, but it wasn't possible, because that strategic positioning was wrong at first. This is the hope. Everyone often discusses hope, discusses disappointment, and discusses despair, but if people can really see the environment, it is unlikely that desperate things will happen.

I recently felt that I am not only responsible for my company, but also responsible for China. I have a responsibility for Chinese. I often find that an English word does not have a suitable Chinese translation. At first I complained that there was no one to translate. Later I thought I might have to translate it.

Caijing: Responsibility for the company, China, the world, and Chinese, and a great sense of responsibility.

Wang Xing: Responsibility has always been self-centered.我从来思考问题都不思考问题本身，而是思考我们所处的环境。因为你看不懂你所处的环境，就看不懂自己。

比如很多人会混淆科学、技术与科技，我曾经想过我应该写一篇文章讲「技术跟科技的区别」，帮大家理清概念。

《财经》：如何获得进步？

王兴：要么是看书，要么是跟人交流，不管是公司内部，还是公司外部的人，我和非常多的人交流。

《财经》：很多人认为你是一个不爱表达的人，但为什么你在饭否上那么有表达欲？

王兴：饭否的表达形式决定它是负担最小的，我有一句话想说就说了。

《财经》：现在花时间最多的是？

王兴：一是思考顶层业务之间的关系，二是人才组织的成长。

《财经》：现在最关心什么问题，最不关心什么问题？

王兴：最关心团队成长的问题，因为一方面我们面临大量机会，我们也有很好的战略位置，另一方面我们有足够的钱，我们的现金流已经转正。现在最大的瓶颈就是人，而人的成长是不能速成的。至于我不关心的问题，当然我也不知道它的存在。

《财经》：每天花在思考工作上的时间和花在思考其他事情上的时间比例是多少？

王兴：我不觉得这两个很可分。你的思维是停不下来的。

《财经》：你认为TMD中谁最有可能成为BAT级别的公司？

王兴：都有机会，都不容易，都不会短期发生。但首先，B和AT不是一个量级。第二，AT还会比现在大很多，他们会繁荣很长时间。

《财经》：你觉得目前中国互联网的竞争环境，尤其是舆论环境，能不能允许美团点评这样的公司存在？

王兴：我们会把它做成的，我们不需要别人允许我们怎么样。