Menu
Sign In Search Podcasts Charts People & Topics Add Podcast API Blog Pricing

Dan Wang

๐Ÿ‘ค Speaker
823 total appearances

Appearances Over Time

Podcast Appearances

Invest Like the Best with Patrick O'Shaughnessy
Dan Wang - The US vs China In The 21st Century - [Invest Like the Best, EP.444]

And if we take a look at the median engineer, median worker between the US and China, I strongly suspect the Chinese are

Invest Like the Best with Patrick O'Shaughnessy
Dan Wang - The US vs China In The 21st Century - [Invest Like the Best, EP.444]

Just putting in much, much more hours relative to the median in the U.S.

Invest Like the Best with Patrick O'Shaughnessy
Dan Wang - The US vs China In The 21st Century - [Invest Like the Best, EP.444]

In California, we love to make fun of the Google offices, which clears out by 3 p.m.

Invest Like the Best with Patrick O'Shaughnessy
Dan Wang - The US vs China In The 21st Century - [Invest Like the Best, EP.444]

on a Friday.

Invest Like the Best with Patrick O'Shaughnessy
Dan Wang - The US vs China In The 21st Century - [Invest Like the Best, EP.444]

Everyone's at the yoga studios again and not working super hard, in particular because it's Google.

Invest Like the Best with Patrick O'Shaughnessy
Dan Wang - The US vs China In The 21st Century - [Invest Like the Best, EP.444]

And that sort of thing is pretty unimaginable in China, which invented this phrase, 9-9-6, working from 9 a.m.

Invest Like the Best with Patrick O'Shaughnessy
Dan Wang - The US vs China In The 21st Century - [Invest Like the Best, EP.444]

to 9 p.m.

Invest Like the Best with Patrick O'Shaughnessy
Dan Wang - The US vs China In The 21st Century - [Invest Like the Best, EP.444]

six days a week.

Invest Like the Best with Patrick O'Shaughnessy
Dan Wang - The US vs China In The 21st Century - [Invest Like the Best, EP.444]

And I think there's some really, maybe inspiration is really important.

Invest Like the Best with Patrick O'Shaughnessy
Dan Wang - The US vs China In The 21st Century - [Invest Like the Best, EP.444]

Working smart is really important, but I think working hard is also very, very important.

Invest Like the Best with Patrick O'Shaughnessy
Dan Wang - The US vs China In The 21st Century - [Invest Like the Best, EP.444]

According to these statistics, which are out there, it takes an automaker from the US or Japan or Germany roughly six years to conceptualize of a new model and actually get it out on the roads of a new vehicle.

Invest Like the Best with Patrick O'Shaughnessy
Dan Wang - The US vs China In The 21st Century - [Invest Like the Best, EP.444]

And in China, it's something more like 18 months to two years.

Invest Like the Best with Patrick O'Shaughnessy
Dan Wang - The US vs China In The 21st Century - [Invest Like the Best, EP.444]

So at a first approximation, they're probably working at least three times faster than the Americans are doing.

Invest Like the Best with Patrick O'Shaughnessy
Dan Wang - The US vs China In The 21st Century - [Invest Like the Best, EP.444]

There's some founding mythos of companies like Meituan.

Invest Like the Best with Patrick O'Shaughnessy
Dan Wang - The US vs China In The 21st Century - [Invest Like the Best, EP.444]

I visited Meituan with my friend Eugene Wei, who is also a big fan and who has been on this show.

Invest Like the Best with Patrick O'Shaughnessy
Dan Wang - The US vs China In The 21st Century - [Invest Like the Best, EP.444]

We went to visit their offices in Beijing in 2018.

Invest Like the Best with Patrick O'Shaughnessy
Dan Wang - The US vs China In The 21st Century - [Invest Like the Best, EP.444]

And part of what the story that Meituan tells about itself is that it survived 5,000 other competitors who were all Groupon clones that started at around the same time in something like 2015 or so.

Invest Like the Best with Patrick O'Shaughnessy
Dan Wang - The US vs China In The 21st Century - [Invest Like the Best, EP.444]

Meituan was a big company back then, and it's now one of China's biggest tech companies now.

Invest Like the Best with Patrick O'Shaughnessy
Dan Wang - The US vs China In The 21st Century - [Invest Like the Best, EP.444]

And just imagine how ruthless and cutthroat the executive team has to be to survive this battle royale of 5,000 companies.

Invest Like the Best with Patrick O'Shaughnessy
Dan Wang - The US vs China In The 21st Century - [Invest Like the Best, EP.444]

And so I think there are some ways in which maybe inspiration is still better here.