Wechat Quotes

With 21 million people following her on Facebook and 18 million on Twitter, pop singer Ariana Grande can’t personally chat with each of her loves, as she affectionately calls her fans. So she and others are spreading their messages through new-style social networks, via mobile apps that are more associated with private, intimate conversation, hoping that marketing in a cozier digital setting adds a breath of warmth and a dash of personality. It’s the Internet’s equivalent of mailing postcards rather than plastering a billboard. Grande could have shared on Twitter that her most embarrassing moment on stage was losing a shoe. The 21-year-old instead revealed the fact during a half-hour live text chat on Line, an app built for close friends to exchange instant messages. It’s expensive to advertise on Facebook and Twitter, and the volume of information being posted creates uncertainty over what people actually notice. Chat apps including Line, Kik, Snapchat, WeChat and Viber place marketing messages front and center. Most-used apps The apps threaten to siphon advertising dollars from the social media leaders, which are already starting to see chat apps overtake them as the most-used apps on smartphones, according to Forrester Research. Chat apps “demand attention,” said Rebecca Lieb, an analyst at consulting firm Altimeter Group.

There’s a common misconception that Silicon Valley is the accelerator of the world. The real story is that the world keeps getting faster—Silicon Valley is just the first place to figure out how to keep pace. While Silicon Valley certainly has many key networks and resources that make it easier to apply the techniques we’re going to lay out for you, blitzscaling is made up of basic principles that do not depend on geography. We’re going to show you examples from overlooked parts of the United States, such as Detroit (Rocket Mortgage) and Connecticut (Priceline), as well as from international companies, such as WeChat and Spotify. In the process you’ll see how the lessons of blitzscaling can be adapted to help build great companies in nearly any ecosystem, albeit with differing degrees of difficulty. That’s the mission of this book. We want to share the secret weapon that has allowed Silicon Valley to punch so much (more than a hundred times) above its population index so that those lessons can be applied far beyond the sixty-mile stretch between the Golden Gate Bridge and San Jose. It is sorely needed.

At the end of 1996, the five most valuable companies in the world were General Electric, Royal Dutch Shell, the Coca-Cola Company, NTT (Nippon Telegraph and Telephone), and ExxonMobil—traditional industrial and consumer companies that relied on massive economies of scale and decades of branding to drive their value. Just twenty-one years later, in the fourth quarter of 2017, the list looked very different: Apple, Google, Microsoft, Amazon, and Facebook. That’s a remarkable shift. Indeed, while Apple and Microsoft were already prominent companies at the end of 1996, Amazon was still a privately held start-up, Larry Page and Sergey Brin were still a pair of graduate students at Stanford who were two years away from founding Google, and Mark Zuckerberg was still looking forward to his bar mitzvah. So what happened? The Networked Age happened, that’s what. Technology now connects all of us in ways that were unthinkable to our ancestors. Over two billion people now carry smartphones (many of them made by Apple, or using Google’s Android operating system) that keep them constantly connected to the global network of everything. At any time, those people can find almost any information in the world (Google), buy almost any product in the world (Amazon/ Alibaba), or communicate with almost any other human in the world (Facebook/ WhatsApp/ Instagram/ WeChat). In this highly connected world, more companies than ever are able to tap into network effects to generate outsize growth and profits.

Tencent painstakingly built WeChat into the world’s first super-app. It became a “remote control for life” that dominated not just users’ digital worlds but allowed them to pay at restaurants, hail taxis, unlock shared bikes, manage investments, book doctors’ appointments, and have those doctors’ prescriptions delivered to your door.

Smart Finance’s deep-learning algorithms don’t just look to the obvious metrics, like how much money is in your WeChat Wallet. Instead, it derives predictive power from data points that would seem irrelevant to a human loan officer. For instance, it considers the speed at which you typed in your date of birth, how much battery power is left on your phone, and thousands of other parameters. What does an applicant’s phone battery have to do with creditworthiness? This is the kind of question that can’t be answered in terms of simple cause and effect. But that’s not a sign of the limitations of AI. It’s a sign of the limitations of our own minds at recognizing correlations hidden within massive streams of data. By training its algorithms on millions of loans—many that got paid back and some that didn’t—Smart Finance has discovered thousands of weak features that are correlated to creditworthiness, even if those correlations can’t be explained in a simple way humans can understand. Those offbeat metrics constitute what Smart Finance founder Ke Jiao calls “a new standard of beauty” for lending, one to replace the crude metrics of income, zip code, and even credit

The scaling curve applies to every blitzscaler, regardless of industry or geography. The same multiple S-curve graph that describes Facebook or Apple also describes Tencent, which launched with QQ, then added a second curve for WeChat after QQ reached maturity in 2010. Just when you’ve finished blitzscaling one business line, you need to blitzscale the next to maintain your company’s upward trajectory. And as blitzscaling continues to spread, established companies with mature business lines should consider turning to intrapreneurs to blitzscale new business units.

TalkBox made its first mistake a few months into launching. In 2011, most people were still relying on 2G in mainland China. The most popular data package in China was 30 megabytes for about 80 cents. The novice founders, thinking 3G would soon dawn upon the country, decided to opt for voice quality instead of speed. They were wrong; the faster network didn’t roll out fully until 2013, missing their estimate by a year. WeChat chose the reverse and soon started picking up momentum. A TalkBox message for one minute used up more than a tenth of one megabyte every time. With only thirty megabytes in their data packages, many users were reluctant to send voice messages using TalkBox. WeChat, on the other hand, only required a fifteenth of TalkBox’s. Herein lies an important lesson that wizened startup founders the world over swear by. Timing is everything – come up with an idea too late and you miss the wave, yet roll out something too early and people will deem your product useless. The same happened with food-delivery and restaurant group discounts during the desktop era. They never took off.

Messages to call home pile up on my desk, but now that Pearl’s WeChat account has been commandeered, I only email her—she’s lonely, her friends are away for the summer, she’s trying to make progress on her Mozart Sonata in C, forcing herself to read all those notes through her dyslexia.

Users turned on their phones and went straight to WeChat to chat with friends, read their posts, and install apps within WeChat, effectively making it an alternate operating system.

Chinese authorities started systematically removing any mention of the virus online. This began on December 31, when technology services in China censored key words linked to the pandemic. The live-streaming platform YY censored words including “unknown Wuhan pneumonia” and “Wuhan Seafood Market”. WeChat censored phrases related to the pandemic, banned both speculative and factual information related to the outbreak, and removed even “neutral references to Chinese government efforts to handle the outbreak that had been reported on state media”, according to the Citizen Lab’s March 2020 report. The CCP censorship alarmed doctors and Chinese health authorities, who knew the precise opposite approach should be taken in order to save lives. This crucial point clearly shows China’s deliberate, intentional and clear-eyed decision to cover up the virus; to stop their own people and those internationally from finding out about it.

Is there such a thing as too much social media?

Is there such a thing as too much social media? If you think that there is, please contact us on: Facebook, Twitter, Instagram, wechat, WhatsApp, Youtube, QQ, Sina Weibo. And we will get back to you.

Think of the flow of friends through Facebook, the flow of renters through Airbnb, the flow of opinions through Twitter, the flow of e-commerce through Amazon, Tencent, and Alibaba, the flow of crowdfunding through Kickstarter, Indiegogo, and GoFundMe, the flow of ideas and instant messages through WhatsApp and WeChat, the flow of peer-to-peer payments and credit through PayPal and Venmo, the flow

Back in 2011, as the smartphone space came to dominate the tech sector, Tencent launched its mobile messaging app WeChat. According to a Business Insider profile, although it started as a simple, WhatsApp-like service, “it grew explosively as it expanded into a kind of super-app that takes the place of Uber, GrubHub, Venmo, Craigslist, and a whole bunch of other services.”16 This super-app structure began in 2017, when WeChat launched its Mini Program or Mini-app feature, which allows developers to build pre-approved lightweight apps that are embedded within WeChat and function as an extension of it. The mini-apps proved incredibly popular as they allowed customers to use external services with just four clicks and without leaving WeChat or downloading a new app.

WeChat was also created specifically for smartphones. Instead of trying to transform its dominant desktop platform, QQ, into a phone app, Tencent aimed to disrupt its own product with a better one built just for mobile. It was a risky strategy for an established juggernaut, but one that paid off big time.

Tesla has used mini-programs (of wechat) for users to schedule a test drive, find a charging station, and share their experience

Walmart launched its own scan-and-pay app within WeChat mini-programs

A core of Tencent’s corporate culture is rapid-fire acquisitions and investments, a quicker way to realize results than internal innovation, which can take years to develop with an uncertain payoff—with some exceptions, like WeChat.

Tencent had partnered with leading mobile carriers like China Mobile to receive 40 percent of the SMS charges that QQ users racked up when they sent messages to mobile phones. A new service could hurt Tencent’s financial bottom line and at the same time risk its relationships with some of China’s most powerful companies. It was the sort of decision that publicly traded, ten-thousand-person companies typically refer to a committee for further study. But Ma wasn’t a typical corporate executive. That very night, he gave Zhang the go-ahead to pursue the idea. Zhang put together a ten-person team, including seven engineers, to build and launch the new product. In just two months, Zhang’s small team had built a mobile-first social messaging network with a clean, minimalistic design that was the polar opposite of QQ. Ma named the service Weixin, which means “micromessage” in Mandarin. Outside of China, the service became known as WeChat. What came next was staggering. Just sixteen months after Zhang’s fateful late-night message to Ma, WeChat celebrated its one hundred millionth user. Six months after that, it had grown to two hundred million users. Four months after that, it had grown to three hundred million users. Pony Ma’s late-night bet paid off handsomely. Tencent reported 2016 revenues of $ 22 billion, up 48 percent from the previous year, and up nearly 700 percent since 2010, the year before WeChat’s launch. By early 2018, Tencent reached a market capitalization of over $ 500 billion, making it one of the world’s most valuable companies, and WeChat was one of the most widely and intensively used services in the world. Fast Company called WeChat “China’s app for everything,” and the Financial Times reported that more than half of its users spend over ninety minutes a day using the app. To put WeChat in an American context, it’s as if one single service combined the functions of Facebook, WhatsApp, Facebook Messenger, Venmo, Grubhub, Amazon, Uber, Apple Pay, Gmail, and even Slack into a single megaservice. You can use WeChat to do run-of-the-mill things like texting and calling people, participating in social media, and reading articles, but you can also book a taxi, buy movie tickets, make doctors’ appointments, send money to friends, play games, pay your rent, order dinner for the night, plus so much more. All from a single app on your smartphone.

To put WeChat in an American context, it’s as if one single service combined the functions of Facebook, WhatsApp, Facebook Messenger, Venmo, Grubhub, Amazon, Uber, Apple Pay, Gmail, and even Slack into a single megaservice.

Taste-based loyalty is only one example of brands setting standards that are difficult to beat. Amazon taught Americans how one-click shopping works. WeChat showed Chinese consumers how to use a messaging app to pay for just about everything. Airbnb set our expectations for ways to find private accommodations. At times, a brand’s name becomes synonymous with the activity; we Google information, wipe our faces with Kleenex, and TikTok funny videos.

WeChat, then, has become a kind of über-platform, a “platform to rule all platforms,” as several outlets have described it. It supports a wide ecosystem of platforms and services outside of just messaging. WeChat’s success in China has led many industry analysts to predict that this model eventually will take over in the West as well. So far, this hasn’t been the case, but that could all be about to change.

Over the ensuing five years, Tencent painstakingly built WeChat into the world’s first super-app. It became a “remote control for life” that dominated not just users’ digital worlds but allowed them to pay at restaurants, hail taxis, unlock shared bikes, manage investments, book doctors’ appointments, and have those doctors’ prescriptions delivered to your door. This metastasizing functionality would blur the lines dividing our online and offline worlds, both molding and feeding off of China’s alternate internet universe.