Re:Meituan CEO Wang Xing's Poem Post Rattles China Tech Indu...
by Ice_cream_suit on Wednesday May 12, 2021 @01:54AM
(#27127079)
"It took just 28 Chinese characters on an obscure social media platform to ignite a controversy that’s rattled the country’s tech industry.
Meituan CEO Wang Xing lost $2.5 billion of his wealth over two days after he posted verses from a millennium-old poem about the misguided attempts of China’s first emperor to quash dissent.
Wang, a usually plain-speaking engineer who enjoys literary classics, later scrubbed his post and explained he was really calling out the short-sightedness of his own industry, trying to clarify there was no implied criticism of the government.
But the damage was done: Meituan shed $26 billion over two days"
Meituan CEO Wang Xing lost $2.5 billion of his wealth over two days after he posted verses from a millennium-old poem about the misguided attempts of China’s first emperor to quash dissent.
Wang, a usually plain-speaking engineer who enjoys literary classics, later scrubbed his post and explained he was really calling out the short-sightedness of his own industry, trying to clarify there was no implied criticism of the government.
But the damage was done: Meituan shed $26 billion over two days"