The similarities (and differences) with the Jack Ma story
It seems to feel the same trend of the retirement of Jack Ma, in 2018, a so popular character who, at the height of his career, decided to change his life and devote himself to teaching, which was his first job.
But things are not exactly like that in China. Even Zhang Yiming, despite the proverbial confidentiality about his personal life, has over the years become the standard-bearer of entrepreneurial creativity applied, this time, to social media and tech finance. Originally from Fujian, a graduate of Tianjin Nankai. The right idea, at a certain point, mixed with the whirlwind growth of Chinese online, opened the world to him.
But things in China are growing and changing fast. ByteDance has come into the crosshairs of regulation, and together with the other big names it must follow the rules of Beijing. There is no popularity that holds, the law is the same for everyone.
Of Jack but we know how it ended. Not much is known, actually, because it has disappeared from the public scene. It got into a clash with the Chinese authorities a few hours after Ant Finanial’s billionaire listing in Shanghai and Hong Kong maintained its positions. With the result that perhaps forever ended up in the shadow of power.
For Zhang, things can turn out differently. The picture of the transformations underway is very clear and struggling with this new course will be particularly difficult. Who would want to destroy fame and fortune and personal security on the altar of leadership maintained at all costs?