Cheng Wei talks about Didi monopoly: don't be narrow - minded

Cheng Wei talks about the monopoly: don't narrow

Wu Xiaobo's dialogue series " ten years and twenty people" finally turned to Didi CEO cheng Wei.

"Benefit" in the competition between the United States and the United States, the dripping rate in the past six months is very high. And the most obvious words around the drops and the US mission, takeaway and net dating cars are "burn money" and "subsidy war". On the first question, Wu Xiaobo asked Cheng Wei, "who on earth fired the first shot?"

Cheng Wei said, "it's us." at the same time, he used a word: wipe the gun off.

"Subsidy war is an inevitable phenomenon in the competitive environment".

In Cheng Wei's view, the "subsidy war" is an inevitable phenomenon in a market competition environment. "This thing has its advantages and disadvantages." Cheng Wei replied, "This is a competitive weapon, just like an atomic bomb, a missile, like a seven-injury punch. If you don't use it, it will hurt yourself. The fierce play is behind It’s a mess, so be cautious when you use it.”

"whether or not to use it is not your decision, it's your industry. This is not your choice or not. " Cheng Wei showed great helplessness.

The highlight of the day was the official announcement of the acquisition of Uber China in 2016.

At that time, Didi yizhi stated that all Uber China's brand, business, data and other assets operating in mainland China belonged to Didi. Cheng Wei joined Uber's global board of directors. Travis kalanick, founder of Uber, also joined Didi's board of directors, while Didi and Uber held each other's shares.

Cheng Wei recalled that 2015 was the most intense time for Didi and Uber to compete. “Although we have grown very fast, we can feel a huge crisis, so I decided to ‘subsidize’ and change from competitive to user-oriented.”

Cheng Wei said that at that time he had an illusory sense of achievement, that the size of the world was the first in the world, that China had changed a lot, that it was convenient to travel, and to see Japan still need to stop on the road.

"But when I saw the Japanese taxi driver, standing by the door, wearing gloves, my hair was meticulous, waiting for the guests. They could sit in the car and rest, not so meticulous, (but they did not), visible In fact, China still has a distance from winning the respect of others.” Cheng Wei said, “At that time, I felt that I could not participate in the subsidy war and could not win by capital.”

Although Didi is young, cheng Wei has started a business for six years.

Wu Xiaobo asked about the three most correct and most memorable things that Cheng Wei and Didi did during the entrepreneurial process. Cheng Wei did not give a very specific answer. He just thought that “keep a sense of crisis” and “continually return to zero”. of two. "There is no trick that allows you to continue to survive and win the competition. The winning path summed up in the last war is the biggest bottleneck in your future." Cheng Wei said.

As for the third point, cheng Wei said that he had not yet been verified and that he wanted to do the most - internationalization.

"At first Uber came in, we were passively internationalized, and we couldn't see how we couldn't win because Uber was like an octopus, whose head in the United States has basically won the competition in the local market and also has a lot of tentacles in Latin America, Southeast Asia, India and China." Cheng Wei describes how Uber feels to himself.

Facing Uber's drops is like hitting rocks with eggs. " Uber has burned 2 billion us dollars in China for two years. Uber has broken all rules in China and is very radical. it is evolving. It has fought with you for a long time in China. this is a mortal game. " cheng Wei is still very clear about Didi's competitive disadvantage.

Cheng Wei said that the first step of his "internationalization" started from this time.

At a news conference in New York on Sept. 17, 2015, Didi announced a strategic partnership with Lyft, the U.S. ride-hailing app, and a $100m strategic investment in the latter. This is in Cheng Wei's mouth, is international "the first decision".

Lyft was the strongest rival of Uber in North America at that time. "All shareholders at that time did not support us, but it is right to look at it again after three or four years." Cheng Wei said.

The path of internationalization is very wild. Apart from investing in Lyft, Ola in India, Grab in Southeast Asia, Careem in the Middle East, and Taxify in Europe... Have invested almost every bit of Uber's global rivals.

Today, Cheng Wei gives the reason for doing this: "We are not just investing in it, we are allies. We just don't want Uber to quickly occupy the market in these places around the world. We fight together in China. This battlefield consumes a lot of resources from the other side." Cheng Wei said, "Like the Soviet Union at that time, it was very difficult to fight 'Moscow Defend the War', 'Leningrad defends the battle', consume huge resources to fight, and ultimately rely on multiple lines. The battle made the whole situation reverse."

"So, at the very beginning, our internationalization is for the survival of China." Cheng Wei confessed.

From the dialogue with Wu Xiaobo, we can see that cheng Wei probably really likes to study military affairs. he once again uses military operations to describe his opponent: " Uber's employees in every city are not as few as those from the outside world. it will be packaged as us troops. the marine and air force marines will come in and call the air force. In fact, it is very touchy. it should be subsidized. it should be hiring and cunning. "

Looking back to the Chinese market itself, cheng Wei thinks that Didi's advantage in winning in China is still localization.

"At the very beginning, Uber was a leader in global marketing and capital in terms of technology. At that time I felt that we were guerrillas. At the time of the rapid merger, there was no complete internal unification, so we had to face the regular troops with money and skills." Cheng Wei described himself as a "spiritual" idea. "I've seen a documentary about Russia, Alexander, Napoleon, and Hitler all went to Moscow, but none of them have won. This place (Moscow) has never been conquered, and that is the belief that we were supporting us at that time."

" one cannot look at the so-called' digital monopoly' narrowly."

Wu Xiaobo directly mentioned Didi's constant questioning - " monopoly": I think there is no monopoly worthy of praise. Do you admit it? "

In this regard, Cheng Wei said that Didi actually faces the competition of many platforms with several names. There are no fewer than ten. He thinks users don't have to worry about this problem. "WeChat is used by everyone, but it does not mean that WeChat has the highest share, it will bully users. The spirit of the Internet itself is still creating value for users. Google, Facebook, their popularity is very high, but not as everyone thinks Become a (monopoly)."

At this point, Cheng Wei explained: "I strongly hope that this matter, not only users, but also academia, including regulation, to seriously study the laws of the Internet age." We cannot simply apply some of the rules we used to in the industrial age. The US is determined to 'antitrust', but why didn't the US take Google's Facebook apart? Think about some of the reasons behind this. "

Cheng Wei believes that in the future, there will be two or three platforms left in each industry in the world. "Search engines have been settled, and the two platforms of e-commerce are forming a competitive landscape. Will there be a lot of travel platforms around the world? Why is there not a lot of taxi software in China today, but a platform, because people will flow in China, you In each city, there is no need to download a platform for each place, just one platform. People are moving around the world, people in Tokyo, Beijing, Sydney, London, Rio, he also needs a platform. And that is the one The platform determines the right to speak in this industry in the coming decades."

" so I don't think we can look at the so-called" digital monopoly " narrowly. if China does not have a platform to represent China's travel services, we do not even have the qualifications to compete globally. " cheng Wei said.

Wu Xiaobo bluntly mentioned the issue of Didi's usage fee: " is everyone's perception of the increase in usage fee real or fake? "

Cheng Wei replied: "It is real, but it is relative."

He said that users felt that it was " subsidy sequela" and that it was their own debt. " because you didn't make the fare cheaper because of technological progress and efficiency improvement, but you made it cheaper by making up five dollars. This cheap price creates the illusion that when you take away this benefit, everyone will think you are expensive. Cheng Wei also said, " the travel price in China is the cheapest in the world. You can take a look at how much it costs to call a car in the United States, Japan and London. "

Cheng Wei said that “certainty” is the biggest challenge for the next trip, because the anxiety that users can't hit the car still exists.

"I'm an optimistic conservative innovator."

Six years of entrepreneurship, from managing one or two hundred people to 10,000 today, Cheng Wei thinks that he has a lot of ups and downs in his mentality, "a variety of roller coasters." However, Cheng Wei said that if you look at the longer time dimension and geographical latitude, many changes are not so dramatic, and it is not so unacceptable. "More is to do the right thing and do the right thing."

To Wu's surprise, Cheng Wei said his personality is conservative, "I am an optimistic conservative innovator."

" if I were not an optimistic person, I would have been scared to death by myself. I really didn't expect such a path when I started my business. I was ignorant and fearless. when I pushed open the door, competition, policies and capital were like whirlpools. but I had already left the door and my eyes closed and I was now open. " cheng Wei said.

So you are such a Cheng Wei.

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Cheng Wei talk Didi Monopoly narrow

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