♪ DAVID: SO MOST PEOPLE WOULD SAY, IF YOU'RE A MANAGING DIRECTOR AT GOLDMAN, LIFE CAN'T BE MUCH BETTER THAN THAT.

WHY DID YOU CHOOSE TO LEAVE?

JEAN: MY EX-BOSS THERE SAID, "I CAN'T BELIEVE YOU'RE JOINING A TAXI COMPANY."

DAVID: SO FAR, WHAT WOULD YOU SAY YOU'RE MOST PROUD OF HAVING ACHIEVED AS THE PRESIDENT OF DiDi?

JEAN: FOR THE COMPANY, I THINK I'M MOST PROUD THAT WE ARE PROVIDING 10 BILLION TRIPS A YEAR AND SERVING ALL DIFFERENT TYPES OF NEED.

DAVID: ARE YOU THINKING OF GOING PUBLIC?

JEAN: WE DO HAVE A SPECIFIC IPO TIMETABLE.

LET'S PUT IT THAT WAY.

WOMAN: WOULD YOU FIX YOUR TIE, PLEASE?

DAVID: WELL, PEOPLE WOULDN'T RECOGNIZE ME IF MY TIE WAS FIXED, BUT OK. JUST LEAVE IT THIS WAY.

ALL RIGHT.

♪ DAVID: I DON'T CONSIDER MYSELF A JOURNALIST.

AND NOBODY ELSE WOULD CONSIDER MYSELF A JOURNALIST.

I BEGAN TO TAKE ON THE LIFE OF BEING AN INTERVIEWER EVEN THOUGH I HAVE A DAY JOB OF RUNNING A PRIVATE EQUITY FIRM.

HOW DO YOU DEFINE LEADERSHIP?

WHAT IS IT THAT MAKES SOMEBODY TICK?

DAVID: ONE OF MY FRIENDS INVESTED IN UBER A NUMBER OF YEARS AGO.

IT WAS AT A $3-BILLION MARKET VALUE.

I SAID, "WELL, HE'S GONNA LOSE ALL HIS MONEY.

NO RIDE HAILING COMPANY CAN BE WORTH $3 BILLION."

IN FACT, OBVIOUSLY, UBER TURNED OUT TO BE WORTH STAGGERINGLY LARGER SUMS OF MONEY NOW AS A PUBLICLY TRADED COMPANY.

I HAD THE SAME REACTION WHEN I HEARD ABOUT A COMPANY CALLED DiDi.

DiDi WAS A SMALL UBER-LIKE COMPANY IN CHINA.

AND I DIDN'T THINK IT COULD CATCH ON THERE, BUT I WAS WRONG AGAIN.

DiDi TODAY IS THE LARGEST SINGLE RIDE HAILING COMPANY IN THE WORLD.

THE PERSON RUNNING THAT COMPANY IS A YOUNG WOMAN FROM CHINA NAMED JEAN LIU.

SHE ROSE UP BECAUSE OF HER INTELLECT, HER HARD WORK, AND NOW SHE'S THE PRESIDENT OF DiDi.

IT'S AN INCREDIBLE SUCCESS STORY.

SHE IS ONE OF THE BEST-KNOWN WOMEN BUSINESS LEADERS IN CHINA, AN EXTREMELY INTELLIGENT, ARTICULATE PERSON WHO IS CLEARLY GOING TO MAKE THIS COMPANY EVEN MORE SUCCESSFUL AS SHE CONTINUES TO LEAD IT.

WE'RE HERE WITH JEAN LIU, WHO IS THE PRESIDENT OF DiDi, WHICH IS THE LARGEST MOBILE TRANSPORTATION COMPANY IN CHINA AND ONE OF THE LARGEST IN THE WORLD.

SO WHEN DiDi WAS STARTED IN 2012, IT WASN'T THE FIRST, OR IT WASN'T THE ONLY COMPANY THAT WAS DOING THIS.

IS THAT RIGHT?

JEAN: YES.

THERE WERE 30 PLAYERS.

DAVID: 30.

JEAN: 30 DOING EXACTLY THE SAME THING.

DAVID: DID YOU HAVE ANYTHING THAT WAS BETTER THAN THE OTHER 29, OR WHAT WERE THE ADVANTAGES OF THE OTHER COMPANIES?

JEAN: YEAH.

WE WORKED REALLY HARD.

WE WORKED REALLY HARD.

FOR EXAMPLE, YOU KNOW, THERE WERE A LOT OF VERY STRONG COMPETITORS, RIGHT?

AND WHEN, YOU KNOW, THERE WERE BIG COMPETITION AHEAD, YOU KNOW, WE SAT DOWN TOGETHER AND THINK ABOUT WHAT'S OUR STRATEGY?

HOW CAN WE PROVIDE BETTER VALUE?

SO WE LAUNCHED, YOU KNOW, 4 BUSINESS LINES IN 3 MONTHS.

THAT'S AT YEAR 2015.

SO THERE WERE A LOT OF MOMENTS THAT WE REALLY WORKED VERY HARD AND TRIED TO CATCH UP.

DAVID: SO THERE'S ANOTHER COMPANY IN THE UNITED STATES CALLED UBER... JEAN: YES.

DAVID: WHICH YOU'RE PROBABLY FAMILIAR WITH.

JEAN: YES.

DAVID: SO WHEN UBER STARTED, IT GREW VERY QUICKLY IN THE UNITED STATES AND IN OTHER PARTS OF THE WORLD.

AND IT ALSO HAD A DIVISION IN CHINA.

SO IN MANY PLACES, UBER SAID, "WELL, WE WILL ROLL OVER OUR COMPETITION."

BUT IN ONE COUNTRY, THEY WEREN'T ABLE TO DO THAT, AND THAT'S CHINA.

IN CHINA, YOU OPENLY CAME TO A DEAL WHERE, IN EFFECT, YOU MERGED, BUT YOU BECAME THE PARENT COMPANY, IN EFFECT.

UBER IS AN INVESTOR IN YOUR COMPANY NOW.

IS THAT RIGHT?

JEAN: YES.

DAVID: ARE YOU AN INVESTOR NOW IN UBER AS WELL?

JEAN: YES, SMALL.

DAVID: SMALL INVESTOR IN THEIR COMPANY.

BUT YOUR COMPANY NOW HAS GROWN TO THE POINT WHERE, HOW MANY RIDERS DO YOU HAVE A DAY ON YOUR MAIN TAXI HAILING BUSINESS?

JEAN: RIGHT.

WE HAVE HUNDREDS OF MILLIONS OF USERS, RIGHT?

EVERY MONTH, YEAH, HUNDREDS OF MILLIONS OF USERS.

DAVID: BUT YOU HAVE MORE USERS EVERY MONTH THAN UBER HAS.

JEAN: YES, YES, DEFINITELY.

YEAH.

DAVID: AND TODAY, WHAT ARE YOUR OTHER BUSINESSES?

JEAN: WHEN WE TALKED ABOUT UBER, FIRST OF ALL, I HAVE TO SAY WE ARE VERY THANKFUL FOR THE COMPETITION.

IT MAKE US BETTER AND STRONGER.

AND WHEN UBER FIRST CAME TO CHINA, YOU KNOW, THERE WAR CHEST WAS BIGGER THAN OUR MARKET CAP, RIGHT?

SO BECAUSE OF COMPETITION, THEY HELP US TO PUSH OURSELVES TO LAUNCH DIFFERENT PRODUCT LINES.

SO STARTING FROM TAXI, WE LAUNCHED PRIVATE CARS IN DIFFERENT END--PRICE END-- BLACK, PREMIER, YOU KNOW, AND EXPRESS LINE.

AND THEN LATER WE HAVE HITCH, WHICH IS A SOCIAL CARPOOLING PRODUCT.

AND NOW WE'RE IN BIKES AND ELECTRIC BIKES.

SO RIGHT.

WE PROBABLY OFFER MORE THAN 10 SERVICES TO OUR USERS.

DAVID: OK, NOW, YOUR MAIN BUSINESS IS THE TAXI HAILING BUSINESS OR THE CAR SHARING BUSINESS, I GUESS IT IS.

WHAT ARE THE OTHER 4 OR 5 MAJOR ONES THAT YOU HAVE NOW?

JEAN: SURE.

WELL, OUR MAIN BUSINESS-- ACTUALLY, AMOUNT OF 14,000 PEOPLE, HALF OF THEM ARE ENGINEERS-- ENGINEERS AND DATA SCIENTISTS.

BECAUSE WE NEED TO MAKE SURE WE MATCH SUPPLY AND DEMAND USING PREDICTIVE ALGORITHM.

BUT IT'S MORE THAN JUST ALGORITHM AND CLOUDS.

SO WE HAVE THIS AUTO SOLUTION PLATFORM, AUTO SOLUTION GROUP, THAT HELP TO SUPPORT THE SUPPLY BASE, WHICH HELPS DRIVERS--FOR FINANCING, INSURANCE, AND ALSO WE RUN THE LARGEST E.V.

FLEET.

BECAUSE DRIVERS LIKE TO DRIVE E.V.

IT SAVES THE GASOLINE COST, RIGHT?

AND ALSO WE RUN THE LARGEST-- WHAT DO YOU CALL IT-- CHARGING NETWORK.

AND IT'S GROWING VERY FAST.

DAVID: SO MOST CHINESE COMPANIES THAT ARE TECHNOLOGY LEADERS, LIKE ALIBABA, TENCENT, BAIDU, HAVE DOMINANT POSITIONS IN CHINA, BUT SO FAR, THEY HAVEN'T TAKEN DOMINANT POSITIONS OUTSIDE OF CHINA.

NOW, YOU ARE TAKING POSITIONS OUTSIDE OF CHINA AND BUILDING YOUR BUSINESS OUTSIDE.

HAVE YOU BEEN VERY SUCCESSFUL OUTSIDE OF CHINA SO FAR?

JEAN: I WOULDN'T CALL--YOU KNOW, WE ARE VERY SUCCESSFUL.

I THINK IT'S VERY ENCOURAGING.

WE SEE VERY ENCOURAGING RESULT.

WE'RE IN BRAZIL, MEXICO, COLOMBIA.

WE ARE IN THE LATIN MARKETS.

AND WE ARE JUST ENTERING INTO AUSTRALIA MARKET AND JAPAN MARKET.

DAVID: HOW DO YOU HAVE TO CHANGE EVERYTHING FOR THE DIFFERENT MARKETS?

THE DIFFERENT QUALITIES YOU HAVE TO BRING TO THE TABLE.

HOW DO YOU MAKE YOUR SERVICE BETTER FOR EACH OF THESE INDIVIDUAL COUNTRIES?

JEAN: I THINK WE PROVIDE OUR SERVICE TO THE LOCAL PEOPLE BY COMBINING TWO THINGS.

ONE IS OUR GLOBAL TECHNOLOGY ARCHITECTURE AND THEN LOCAL INNOVATION, RIGHT?

SO WE TAILOR-MAKE PRODUCTS FOR DIFFERENT MARKET.

PRODUCT IN BRAZIL AND PRODUCT IN JAPAN, VERY DIFFERENT UNLIKE OTHER COMPANIES, THEY MAY DO COPY-PASTE.

WE HAVE ONE PRODUCT IN THE STATES AND, YOU KNOW, COOKIE CUTTING FOR ALL THE MARKETS.

SO IT'S A VERY DIFFERENT APPROACH.

DAVID: SO YOU MENTIONED SOME COUNTRIES THAT YOU'RE IN.

YOU DIDN'T MENTION YOU'RE IN THE UNITED STATES.

ARE YOU PROHIBITED FROM GOING INTO THE UNITED STATES, OR...?

JEAN: IT'S A VERY CROWDED MARKET.

DAVID: OK, SO NOT LIKELY TO HAPPEN ANYTIME SOON?

JEAN: YEAH.

WE HOPE, YOU KNOW-- I THINK OUR PHILOSOPHY IS AS LONG AS WE CAN DO SOMETHING DIFFERENTLY.

IF WE CAN BRING SOME USER VALUE, THEN WE WILL CONSIDER.

IF IT'S JUST, YOU KNOW, SAME PRODUCT, ONLY COMPETE ON PRICING, WE DON'T SEE THE POINT.

DAVID: NOW, THE UNITED STATES AND CHINA HAVE A TRADE DISPUTE THAT HAS BEEN GOING ON FOR A WHILE.

DOES THAT AFFECT YOUR BUSINESS IN ONE WAY OR ANOTHER?

JEAN: TO BE HONEST, THAT DOESN'T REALLY IMPACT OUR BUSINESS BECAUSE WE ARE, YOU KNOW-- WE ARE SUPPORTED BY OUR LOCAL PASSENGERS AND DRIVERS.

HOWEVER, YOU KNOW, I WOULD THINK, YOU KNOW, WE HAVE-- BENEFITED FROM TRADING AND SHARING OVER YEARS, RIGHT?

AND, YOU KNOW, IT'S UNFORTUNATE TO SEE THIS.

OF COURSE, WE HOPE IT CAN GET RESOLVED.

DAVID: SO IF I'M AN AMERICAN TOURIST AND I WANT TO USE YOUR SERVICE-- I'M IN CHINA-- IS IT EASY TO DO?

DO I HAVE TO SPEAK CHINESE TO BE ABLE TO DO IT?

JEAN: YOU DON'T AT ALL.

WE HAVE A GREAT ENGLISH VERSION.

DAVID: REALLY?

JEAN: YES.

WE HAVE A GREAT ENGLISH VERSION.

AND, ACTUALLY, A LOT OF OUR EMPLOYEES' COLLEAGUES ARE FROM OVERSEAS, FROM DIFFERENT COUNTRIES.

ESPECIALLY NOW, WE HAVE A GLOBAL BUSINESS.

DAVID: UBER IS NOW PUBLICLY TRADED.

AND IT'S LOSING A FAIR AMOUNT OF MONEY EVERY YEAR-- A BILLION DOLLARS-PLUS A YEAR OR SOMETHING LIKE THAT OR MORE.

ARE YOU THINKING OF GOING PUBLIC, AND ARE YOU LOSING MONEY OR ARE YOU MAKING MONEY?

JEAN: WELL, WE DO HAVE A SPECIFIC IPO TIMETABLE.

LET'S PUT IT THAT WAY.

AND BACK TO THE UBER POINT, I'M SURE IT'S TEMPORARY AND THEY WILL GO THROUGH IT.

DARA IS VERY DILIGENT CEO AND VERY EXPERIENCED.

FOR US, WE THINK PROFITABILITY IS NATURAL RESULT OF THE VALUE YOU REALLY CREATE.

AND THERE ARE TWO THINGS IN CHINA VERY DIFFERENT FROM THE OTHER MARKET.

FIRST THE RIDESHARE IS CHEAPER THAN CAR OWNERSHIP.

SO THAT'S THE HUGE VALUE CREATION WE PROVIDE TO OUR USERS.

AND, SECONDLY, IN CHINA, WE ARE GOING THROUGH A TRANSITION THAT PEOPLE--YOU KNOW, PEOPLE URGE FOR BETTER LIFE QUALITY, BETTER LIVES, AND PEOPLE WANT TO SPEND MORE MONEY, SO... DAVID: THE AVERAGE AGE OF YOUR RIDESHARE CUSTOMERS IS WHAT, IS IT BELOW 30 OR...?

JEAN: YEAH.

20 TO 30.

20 TO 30.

ACTUALLY, A LOT OF THEM ARE STUDENTS FROM COLLEGE OR JUST, YOU KNOW, McKINSEY THIRD-YEAR ANALYST.

DAVID: SO PEOPLE WHO ARE 50, 60, OR 70, THEY'RE NOT YOUR TARGET AUDIENCES MUCH?

JEAN: NO.

THEY ARE, ACTUALLY.

WE DEFINITELY WANT TO, YOU KNOW, MAKE OUR TECHNOLOGY MORE ACCESSIBLE TO EVERYONE.

YEAH.

DAVID: WELL, BACK TO THE QUESTION OF YOUR PROFITABILITY.

YOU ARE PROFITABLE.

JEAN: ON OUR CORE BUSINESS, WE ARE.

DAVID: YOUR CORE BUSINESS.

JEAN: YES, WE ARE.

DAVID: NOW, ONE OF THE BUSINESSES THAT IS NOT YOUR CORE--AND I THINK YOU SPUN IT OFF-- WAS YOUR AUTOMATIC DRIVING-- DRIVERLESS-- JEAN: AUTONOMOUS.

DAVID: OR AUTONOMOUS.

SO WHY DID YOU SPIN IT OFF?

AND WHEN DO YOU THINK AUTONOMOUS DRIVING WILL ACTUALLY BE VERY COMMON?

JEAN: YEAH, ACTUALLY, YOU KNOW, I THINK IT WILL TAKE HUGE COMMITMENT FOR AUTONOMOUS TECHNOLOGY TO MATURE TECHNOLOGY-WISE AND ALSO COMMERCIAL-WISE, RIGHT?

SO ANY COMPANY WHO WANTS TO SUCCEED IN THAT FIELD, THEY NEED TO BE PREPARED TO SPEND MONEY AND HUMAN RESOURCES INTO IT.

SO WE VIEW, YOU KNOW, WE WANT TO ATTRACT THE TOP TALENT AND MAKE IT INDEPENDENT, SO PEOPLE FEEL, "WE WANT TO JOIN.

THIS IS A YOUNG COMPANY."

AND AT THE SAME TIME, WE ALSO--WE'RE AT ADVANTAGE--BECAUSE WE RUN THE LARGEST NETWORK, RIGHT?

FOR A GEOFENCING AUTONOMOUS CAR TO RUN IS EASY, RIGHT?

IN CALIFORNIA, IT COULD BE MUCH EASIER THAN IN BEIJING.

SO WE HAVE THIS HUGE AMOUNT OF DATA.

SO THAT MAKES US FEEL, YOU KNOW, WE ARE ADVANTAGED IN A WAY.

DAVID: HOW MANY YEARS AWAY BEFORE YOU ARE ACTUALLY REALLY ABLE TO DO THAT?

JEAN: I THINK IT WILL BE A LONG TIME.

DAVID: A LONG TIME MEANS FIVE YEARS?

JEAN: FIVE TO TEN YEARS, I THINK.

DAVID: SO YOU SPUN THAT OFF BECAUSE IT'S NOT GONNA BE THAT PROFITABLE IN THE NEAR FUTURE.

JEAN: YEAH.

I THINK IT'S, WE ARE STILL IN THE INVESTMENT PERIOD.

DAVID: GOING THROUGH YOUR BACKGROUND, YOUR FATHER IS WELL-KNOWN IN THE BUSINESS WORLD IN CHINA.

HE WAS THE FOUNDER OF LENOVO.

JEAN: YES.

DAVID: AND DID HE SAY TO YOU, YOU NEED TO GO INTO SOME KIND OF COMPUTER-RELATED THING WHEN YOU GROW UP?

JEAN: NOT REALLY.

DAVID: HE DIDN'T.

JEAN: NO, NOT REALLY.

DAVID: HE DIDN'T PUT ANY PRESSURE ON YOU TO GET INTO THE BUSINESS WORLD?

JEAN: NOT AT ALL.

NOT AT ALL.

DAVID: SO YOU WENT TO PEKING UNIVERSITY.

JEAN: YES.

DAVID: AND YOU MAJORED IN COMPUTER SCIENCE.

JEAN: YES.

YES.

DAVID: OK.

SO AFTER YOU GRADUATED AND--LET ME ASK YOU-- IN PEKING UNIVERSITY, IS IT LIKE THE UNITED STATES WHERE THERE ARE MORE MEN THAN WOMEN IN COMPUTER SCIENCE?

JEAN: IN OUR CLASS, THERE WERE 36 STUDENTS.

30 OF THEM WERE MEN.

DAVID: OK. JEAN: SO... DAVID: YOU GRADUATED.

PRESUMABLY, YOU DID WELL.

BUT THEN YOU DECIDED TO LEAVE CHINA TO GO TO A SCHOOL IN THE UNITED STATES--HARVARD.

JEAN: YES.

DAVID: WAS THAT HARD TO GET INTO?

JEAN: IT WAS HARD TO GET INTO.

YEAH.

DAVID: SO YOU WENT TO HARVARD.

AND YOU GOT A MASTER'S IN COMPUTER SCIENCE.

AND DID YOU FIND HARVARD EASIER OR HARDER THAN YOU THOUGHT IT WOULD BE?

JEAN: WELL, I WOULDN'T SAY THAT HARDER OR EASIER.

I THINK IT'S MORE INTERESTING.

AND, YOU KNOW, MY KEY PURPOSE TO GO ABROAD IS TO SEE THE WORLD AND TO MEET DIFFERENT PEOPLE, AND IT WAS TOTALLY REWARDING.

DAVID: OK. NOW, YOUR ENGLISH IS BY MY VIEW, PERFECT.

JEAN: THANK YOU.

NOT REALLY.

DAVID: WELL, IT'S PRETTY GOOD.

WHERE DID YOU GET THIS ENGLISH, AT HARVARD, OR DID YOU GET IT IN CHINA?

JEAN: I THINK I PROBABLY GET IT IN CHINA.

YOU KNOW, IN CHINA, YOU KNOW, WE STARTED TO LEARN ENGLISH STARTING FROM ELEMENTARY SCHOOL.

SO, IF YOU HAVE SOME GOOD ENGLISH TEACHER AT SCHOOL, YOU ACTUALLY GET PRETTY OK, BUT I WOULDN'T CALL MY ENGLISH PERFECT.

DAVID: I THINK IT'S PRETTY GOOD.

IT'S PROBABLY BETTER THAN MINE.

SO WHEN YOU GRADUATED FROM HARVARD, DID YOU DECIDE TO GO TO A GREAT CHINESE FIRM LIKE GOLDMAN SACHS?

JEAN: YES.

ACTUALLY, IT WAS ALMOST ACCIDENTAL TO JOIN GOLDMAN.

I DID SUMMER INTERNING, GOLDMAN, AS IN RESEARCH DIVISION AS AN I.T.

ENGINEER.

DAVID: IN NEW YORK?

JEAN: IN HONG KONG.

DAVID: IN HONG KONG.

OK. JEAN: IN HONG KONG.

AND I THOUGHT IT WAS FASCINATING WHAT PEOPLE ARE DOING.

SO I DECIDED I WANT TO APPLY FOR A FULL-TIME JOB.

THAT'S WHY I ENDED UP IN INVESTMENT BANKING DIVISION IN HONG KONG AS WELL.

DAVID: ALL RIGHT.

SO YOU WENT THERE AFTER YOU GRADUATED.

YOU WENT TO HONG KONG, AND YOU STAYED THERE 12 YEARS?

JEAN: YES.

DAVID: AND YOU BECAME A MANAGING DIRECTOR.

JEAN: YES.

DAVID: SO MOST PEOPLE WOULD SAY IF YOU'RE A MANAGING DIRECTOR AT GOLDMAN, LIFE CAN'T BE MUCH BETTER THAN THAT.

AND SO YOU'RE ON YOUR WAY UP TO THE VERY TOP.

WHY DID YOU CHOOSE TO LEAVE?

JEAN: YES, A LOT OF PEOPLE ASK ME THAT QUESTION, ESPECIALLY WHEN I RESIGNED FROM GOLDMAN.

MY EX-BOSS THERE SAID, "I CAN'T BELIEVE YOU'RE JOINING A TAXI COMPANY," BECAUSE, YOU KNOW, WHEN I FIRST MOVED BACK TO BEIJING, YOU KNOW, I ALWAYS FIND MYSELF STRUGGLING IN THE MIDDLE OF THE STREET WITH MY THREE YOUNG CHILDREN.

I DIDN'T HAVE A LICENSE PLATE.

TO DRIVE IN BEIJING, YOU NEED TO HAVE YOUR LICENSE PLATE, AND IT'S HARD TO GET.

IT'S A LOTTERY SYSTEM.

AND IT'S REALLY HARD TO HAIL A TAXI, AND THEN I MET DiDi AT THAT TIME, WHICH WAS A VERY YOUNG COMPANY.

DAVID: THAT COMPANY WAS STARTED IN 2012?

JEAN: YES, 2012.

I MET CHENG WEI, THE FOUNDER, IN YEAR 2013, WHEN DiDi WAS ONE YEAR OLD.

AND I WANTED TO MAKE AN INVESTMENT, YOU KNOW, AT THE BEGINNING.

I TRIED THREE TIMES.

I FAILED THREE TIMES.

DAVID: INVESTMENT ON BEHALF OF GOLDMAN OR YOURSELF?

JEAN: ON BEHALF OF GOLDMAN.

I WAS A VERY GOOD GOLDMAN SOLDIER.

DAVID: AND EACH TIME, HE SAID, "WE DON'T NEED YOUR MONEY," OR WHAT?

JEAN: YEAH, BECAUSE THERE ARE LINES OF INVESTORS WAITING OUTSIDE, AND THEY ARE FASTER.

YOU KNOW, THE DUE DILIGENCE PROCESS FROM GOLDMAN IS ACTUALLY QUITE STRICT.

SO I FAILED.

I ALWAYS WANTED TO BUILD SOMETHING.

AND THIS THING SEEMS TO ME HUGE IMPACT, RIGHT?

SO I THINK, WHY DON'T I JUST JOIN HIM?

DAVID: HOW BIG WAS THE COMPANY IN 2014, WHEN YOU JOINED?

JEAN: LET ME SEE.

IT WAS VALUED AT AROUND 500 MILLION U.S.D.

AND 700 PEOPLE, AND THE ONLY PRODUCT WE HAD WAS THE TAXI HAILING APP.

SO, YOU KNOW, WHEN I JOINED, YOU KNOW, A LOT OF MY FRIENDS OR MY FAMILY ADVISE ME NOT BECAUSE YOU KNOW IN CHINA, IS VERY COMPETITIVE, RIGHT?

AND PEOPLE THINK, SO MUCH UNCERTAINTY.

DAVID: SO WHAT DO YOU SAY TO THE PEOPLE THAT ADVISED YOU NOT TO JOIN NOW?

DO YOU EVER SEE THEM AND SAY, "IF I'D LISTENED TO YOU, I'D STILL BE AT GOLDMAN"?

YOU NEVER SAY THAT?

JEAN: WELL, ACTUALLY, YOU KNOW, I HESITATED, RIGHT?

I HESITATED, TOO.

YOU KNOW, WHEN I SAT DOWN WITH CHENG WEI, SAY, "IF YOU DON'T LET ME INVEST IN YOU, LET ME JOIN YOU."

HE DIDN'T BACK OFF, WHICH IS SURPRISE TO ME.

AND THEN, YOU KNOW, I GOT HESITATED WHEN PEOPLE ADVISED ME NOT TO.

SO WE WENT TO TIBET TOGETHER WITH A GROUP OF SEVEN PEOPLE.

IT WAS A SOUL-SEARCHING TRIP.

AND AFTER THAT, I MADE UP MY MIND.

DAVID: OK. AND WHAT POSITION DO YOU JOIN AT?

JEAN: CHIEF OPERATING OFFICER.

DAVID: SO YOU CAME FROM GOLDMAN SACHS, BUT AT GOLDMAN, YOU WERE NOT MANAGING HUNDREDS AND HUNDREDS OF PEOPLE.

SO HOW COULD YOU BE THE CHIEF OPERATING OFFICER?

JEAN: YEAH.

ALTHOUGH I DIDN'T MANAGE HUNDREDS AND HUNDREDS OF PEOPLE, BUT I DID SEE A LOT OF BUSINESS.

I DID TALK TO A LOT OF, YOU KNOW, ENTREPRENEURS.

AND ALSO, I THINK, IT'S JUST IN MY GENES, YOU KNOW.

I WANT TO BUILD AN ORGANIZATION THAT SUITS, YOU KNOW, THIS GENERATION.

DAVID: AND WHO WERE THE BIG INVESTORS IN DiDi IN THE EARLY DAYS?

JEAN: ACTUALLY, THERE ARE A NUMBER OF THEM.

THE STRATEGIC ONES, WE HAVE TENCENT, ALIBABA.

WE ALSO HAVE TIM COOK, APPLE.

YOU KNOW, WE ALSO HAVE A LOT OF VERY WELL-KNOWN FINANCIAL INVESTORS NOW.

DAVID: AND MOST OF THE INVESTORS, WERE THEY LARGE INSTITUTIONAL INVESTORS FROM THE UNITED STATES OR FROM CHINA OR FROM ALL OVER THE WORLD?

JEAN: IT'S A MIX.

DAVID: OK. JEAN: IT'S PRETTY DIVERSE.

DAVID: SO WHEN YOU JOINED THE COMPANY, IT HAD A MARKET VALUATION OF 500 MILLION OR LESS.

IS THAT RIGHT?

JEAN: YES, MORE OR LESS.

YEAH.

DAVID: SO LET'S SUPPOSE I SAY, "I LIKE WHAT YOU SAID.

I'D LIKE TO INVEST AT A $500-MILLION VALUATION."

COULD I DO THAT TODAY?

JEAN: NOT REALLY.

DAVID: NO?

JEAN: NO...

EVEN YOU'RE SO NICE AND FRIENDLY.

DAVID: SO HOW DO YOU GET TO WORK EVERY DAY?

DO YOU TAKE ONE OF YOUR SERVICES?

JEAN: YES, YES.

MOST OF THE TIME.

DAVID: AND IF YOU ARE TAKING ONE OF YOUR CARS AND YOU DON'T LIKE THE SERVICE, WHAT DO YOU SAY?

DOES EVERYBODY KNOW WHO YOU ARE?

JEAN: NO.

THE OTHER DAY, YOU KNOW, WE HAD THIS ASSIGNMENT THAT WE HAVE TO DRIVE AS WELL.

WE HAVE TO, YOU KNOW, TEST THE DRIVER EXPERIENCE.

AND THE OTHER DAY, YOU KNOW, I DID IT WITH MY COLLEAGUE.

AND WE PICK UP THIS YOUNG GUY, AND MY COLLEAGUE INTRODUCED TO HIM, "THIS IS OUR PRESIDENT.

AND WE WANT TO SURVEY YOU SOME QUESTIONS."

HE DIDN'T SEEM IMPRESSED AT ALL.

HE SAID, WHATEVER.

HE SAID, "WHY DON'T YOU GIVE ME SOME COUPON IF YOU WANT TO SURVEY ME?"

SO, YOU KNOW, I GUESS I'M NOT A, YOU KNOW, CELEBRITY, OR IF YOU WILL.

DAVID: NOW, YOU ARE NOW WIDELY VIEWED AS ONE OF THE MOST POWERFUL WOMEN IN BUSINESS IN CHINA, WOMEN IN BUSINESS AROUND THE WORLD, AND NOT JUST A PROMINENT WOMAN.

YOU'RE A PROMINENT EXECUTIVE.

YOU'RE RUNNING ONE OF THE BIGGEST COMPANIES IN CHINA AND ONE OF THE BIGGER COMPANIES IN THE WORLD IN TERMS OF MARKET VALUE.

SO HOW DO YOU KEEP THAT FROM GOING TO YOUR HEAD?

JEAN: WELL, GOOD QUESTION.

ACTUALLY, YOU KNOW, I THINK I REALLY HAVE A VERY TOUGH JOB, RIGHT?

IT'S A VERY CHALLENGING JOB.

YOU KNOW, WHEN I FIRST JOINED THIS COMPANY, I THOUGHT IT'S A TECHNOLOGY COMPANY, AND NOW I KNOW IT'S ABOUT PEOPLE.

IT'S ABOUT SAFETY.

YOU KNOW, LAST YEAR, THERE WERE TWO TERRIBLE INCIDENTS HAPPEN ON OUR PLATFORM.

TWO YOUNG GIRLS GOT KILLED.

IT WAS DEVASTATING, RIGHT?

AND FOR ALL OF THE SENIOR EXECUTIVE-- I.E.

THE 25 YEAR OLDS, RIGHT-- YOU KNOW, WE SAT TOGETHER AND THINK TO OURSELVES, WHAT'S THE NEXT STEP, RIGHT?

THIS IS MUCH MORE CHALLENGING THAN WHEN UBER CAME IN OR WHEN, YOU KNOW, OTHER COMPETITION COME IN.

DAVID: WAS THE DEATH BECAUSE--THE DRIVER DID SOMETHING WRONG?

JEAN: YES.

THE DRIVER.

YEAH.

THE DRIVER WAS A CRIMINAL.

DAVID: SO HOW DO YOU SCREEN THOSE KIND OF PEOPLE IN THE FUTURE?

JEAN: RIGHT, AFTER.

SO AFTER THAT, NOW WE LAUNCH MORE THAN 40 PRODUCT FEATURES ABOUT SAFETY-- FACIAL RECOGNITION, RIGHT?

ROUTE SHARING, SO ITINERARY SHARING, SO THERE ARE 40 OF THEM.

BUT THE CHALLENGE PART IS NOT ABOUT HOW COMMITTED WE CAN BE FOR SAFETY.

IT'S, THERE ARE A LOT OF DILEMMAS THAT I CAN'T ASK OUR DATA SCIENTISTS FOR AN ANSWER TO.

IT'S A SOCIAL PROBLEM.

FOR EXAMPLE, YOU KNOW, ONE DILEMMA WE FACE IS, DO WE ALLOW DRIVERS TO REJECT DRUNK PASSENGERS?

BECAUSE THERE ARE A LOT OF INTERNAL CONFLICT FROM DRUNK PASSENGERS, TEND TO ASSAULT DRIVERS, RIGHT?

SO DRIVERS COMPLAIN TO US-- HUNDREDS OF THEM COMPLAIN TO US DAILY--SAYING, "CAN WE REJECT THIS DRUNK PASSENGER?"

DO WE ALLOW IT OR NOT?

DAVID: SO WHAT DO YOU DO?

JEAN: WE PUT UP A NATIONWIDE CONSULTATION FORUM.

AND WE ASK PEOPLE'S FEEDBACK.

80% OF THEM THINKS WE SHOULD.

IT'S SURPRISE TO US BECAUSE OUR REGIONAL CONCERN WAS IF WE LET THAT HAPPEN, THEN WHAT IF SOMETHING BAD HAPPENED TO THE DRUNK PASSENGER, RIGHT?

SO WHAT WE NEED TO NOT ENCOURAGE IS DRUNK PASSENGER TO RIDE BY THEMSELF.

THEY NEED TO BE ACCOMPANIED BY A SOBER FRIEND.

DAVID: HOW DO YOU MAKE SURE YOUR DRIVERS ARE NOT DRUNK?

JEAN: OH, THAT'S VERY EASY.

THAT'S VERY EASY.

DAVID: WHAT DO YOU HAVE, A BREATHALYZER?

OR WHAT DO YOU DO?

HOW DO YOU MAKE SURE--CERTAIN?

JEAN: WE HAVE THIS SDK ON OTHER DRIVERS' CELL PHONES.

SO IF THEY DRIVE DANGEROUSLY-- SPEED DRIVING, YOU KNOW, HARD BRAKE, HARD TURN, WE TEST IT IMMEDIATELY, RIGHT?

AND BEFORE HE GETS, YOU KNOW-- HE PICK UP ORDER, WE WOULD DO FACIAL RECOGNITION AND THEIR PHONE CALLS IF WE SEE ANYTHING, YOU KNOW, RANDOM.

DAVID: SO IN THE UNITED STATES, THERE'S A LOT OF DISCUSSION ABOUT WHETHER WOMEN ARE ALLOWED TO GET SENIOR POSITIONS IN COMPANIES, AND VERY FEW "FORTUNE" 500 COMPANIES ACTUALLY HAVE CEOs AS WOMEN.

IS IT EASIER IN CHINA FOR A WOMAN TO BE A CEO OF A COMPANY OR HARDER?

JEAN: WELL, I THINK YOU CAN ALWAYS BE A CEO OR PRESIDENT, BUT MOST OF THE TIME YOU'RE NOT LIKEABLE, RIGHT, BECAUSE I THINK THERE'S STILL A GLASS CEILING IN EVERYWHERE, BUT I THINK IN CHINA, IT'S ALREADY A VERY ENCOURAGING WORK ENVIRONMENT.

FOR EXAMPLE, IN DiDi, WE HAVE DiDi WOMEN'S NETWORK.

WE LAUNCHED IT FOUR YEARS AGO.

YOU KNOW, THE KEY POINT IS TO ENCOURAGE WOMEN TO PLAN THEIR CAREER FOR NEXT 30 YEARS.

LIKE, DAVID, YOU KNOW, WHEN YOU WERE YOUNG, YOU MUST HAVE PLANNED YOUR CAREER FOR THE NEXT 30 YEARS.

BUT IT'S A CHALLENGE FOR YOUNG GIRLS, SAY, "WHAT I WANT TO DO FOR MY NEXT 30 YEARS," BECAUSE THEY ALWAYS FEEL THEIR LIFE WILL PAUSE WHEN THEY HAVE KIDS, WHEN THEY GET MARRIED, YOU KNOW, SO WE WANT TO MAKE SURE, YOU KNOW, OUR WOMEN EMPLOYEES FEEL THEY'RE EMPOWERED.

AND, YOU KNOW, THAT'S WHY WE ENCOURAGE A LOT OF, YOU KNOW, WORKING FROM HOME, RIGHT?

WE ENCOURAGE A LOT OF CULTURE, LIKE THAT YOUNG MOM CAN WORK FROM HOME ONE DAY A WEEK.

SO JUST SOME THINGS.

DAVID: WELL, YOU HAVE THREE YOUNG KIDS.

DO YOU WORK FROM HOME ONE DAY A WEEK?

[JEAN LAUGHS] DAVID: YOU CAN'T DO THAT.

JEAN: I CAN'T DO THAT.

I CAN'T DO THAT.

BUT MY KIDS ARE RELATIVELY BIG.

THEY'RE 10 AND 9.

SO... DAVID: AND ARE THEY IMPRESSED WITH YOUR JOB?

DO THEY KNOW HOW POWERFUL YOU ARE IN THE BUSINESS WORLD, OR THEY DON'T REALLY KNOW?

JEAN: THEY KNOW, THEY KNOW.

BUT, YOU KNOW, THEY DON'T THINK ME AS POWERFUL.

THEY THINK MOM ALWAYS HAVE A LOT OF PROBLEMS BECAUSE I DO GO BACK HOME AND DISCUSS WITH THEM, YOU KNOW, MY WORK ISSUES.

AND, YOU KNOW, IN MY VIEW, YOU KNOW, THE YOUNGER GENERATION-- GENERATION Z--RIGHT, THEY HAVE MORE ACCESS TO INFORMATION THAN WE DO.

SO I THINK THEY HAVE VERY INDEPENDENT VIEWS.

YEAH.

SO WE TALK A LOT.

DAVID: SO FOR MANY WOMEN IN CHINA AND ELSEWHERE-- BUT CERTAINLY IN CHINA-- YOU'RE A ROLE MODEL.

SO HOW DO YOU FULFILL THAT ROLE?

DO YOU SPEAK TO A LOT OF WOMEN'S GROUPS?

DO YOU TELL WOMEN THAT THEY SHOULD DO "X," "Y," AND "Z" TO ADVANCE?

HOW DO YOU TAKE ON THAT RESPONSIBILITY?

JEAN: WELL, FIRST OF ALL, I THINK WE'RE ALL LEARNING AND GROWING.

I WOULDN'T CONSIDER MYSELF AS A ROLE MODEL, BUT I WOULD CONSIDER MYSELF AS SOMEONE WHO LOVES TO SHARE MY OWN LIFE EXPERIENCE BECAUSE, YOU KNOW, I HAVE ALSO EXPERIENCED UPS AND DOWNS PERSONALLY, RIGHT, AND PROFESSIONALLY.

SO I THINK THE BEST WAY IS TO SHARE YOUR LIFE STORY WITHOUT REALLY TELLING PEOPLE WHAT TO DO, RIGHT, BECAUSE PEOPLE WILL GET INSPIRED ANYWAYS.

DAVID: NOW, YOUR FATHER IS A VERY PROMINENT PERSON IN THE CHINESE BUSINESS WORLD AND THE GLOBAL BUSINESS WORLD.

LENOVO IS A COMPANY THAT HE BASICALLY BUILT.

DOES HE GIVE YOU ADVICE ON WHAT TO DO OR HE DOESN'T AT THIS POINT?

JEAN: YOU KNOW, ONE PIECE OF ADVICE I GOT, AND BENEFIT ME FOR MY WHOLE LIFE WAS, HE ALWAYS SAID LIFE IS SUPPOSED TO BE HARD, RIGHT?

YOU KNOW, WHEN WE HAD OUR HICCUP WHEN WE HAD THE INCIDENTS, A LOT OF TIMES, YOU KNOW, IT'S FRUSTRATING, RIGHT, IF YOU'RE HELPLESS AND HOPELESS, LIKE WHAT HAPPENED LAST YEAR.

AND, YOU KNOW, I ALWAYS REMEMBER MY FATHER TOLD ME LIFE IS SUPPOSED TO BE HARD, RIGHT?

SO I THINK THAT MAKE ME MORE RESILIENT, YOU KNOW, STRONGER.

DAVID: SO, SO FAR, WHAT WOULD YOU SAY YOU'RE MOST PROUD OF HAVING ACHIEVED AS THE PRESIDENT OF DiDi?

JEAN: WELL, FOR THE COMPANY, I THINK I'M MOST PROUD THAT WE ARE PROVIDING 10 BILLION TRIPS A YEAR AND SERVING ALL DIFFERENT TYPES OF NEED.

AND WE ARE CREATING INCOME FOR MORE THAN TENS OF MILLIONS OF DRIVERS.

PERSONALLY, WHAT MAKES ME FEEL, YOU KNOW, PROUD IS WE HAVE BUILT, YOU KNOW, A TEAM WITH RESILIENCE AND COMMITMENT, AND PEOPLE FEEL THIS IS THE RIGHT THING TO DO.

DAVID: RIGHT.

JEAN: YEAH.

DAVID: SO IF FIVE YEARS FROM TODAY AND 10 YEARS FROM TODAY, YOU'RE STILL THE PRESIDENT OF THE COMPANY, HOW WILL THIS COMPANY BE DIFFERENT?

WHAT ARE YOU GOING TO BE DOING IN FIVE OR TEN YEARS THAT YOU'RE NOT DOING TODAY?

JEAN: SURE.

GREAT QUESTION.

YOU KNOW, I THINK THE KEY CHALLENGE FACING THE WORLD IS THERE'S MORE AND MORE LIMITED RESOURCE.

HOWEVER, PEOPLE ALWAYS WANT BETTER LIFE, RIGHT?

SO HOW CAN WE, YOU KNOW, CUT DOWN WASTE, RIGHT, POLLUTION, RIGHT?

AND I THINK AS A RIDESHARE COMPANY, YOU KNOW, WE HAVE A BIG CHANCE, YOU KNOW.

AS I SAID, YOU KNOW, WE ARE ALREADY THE LARGEST E.V.

FLEET.

I THINK WITH THE PROMOTION OF RIDESHARE, YOU KNOW, WE CAN PROMOTE MORE AND MORE E.V.

CARS AND TO CUT C2O EMISSION.

AND I REALLY HOPE, YOU KNOW, IF TEN YEARS DOWN THE ROAD, WHEN I'M STILL RUNNING THE COMPANY TOGETHER WITH MY COLLEAGUES, YOU KNOW, WE WILL HELP TO SOLVE THE POLLUTION ISSUE.

DAVID: SO DO YOU HAVE ANY INTEREST IN LEAVING THE COMPANY AT SOME POINT AND GOING INTO GOVERNMENT OR PUBLIC POLICY OR TEACHING OR DOING SOMETHING IN THE PHILANTHROPY WORLD?

OR IS YOUR GOAL TO STAY FOR THE NEXT X NUMBER OF YEARS?

JEAN: TO BE HONEST, WE ARE LASER FOCUSED ON TODAY.

SO I HAVEN'T HAD THE LUXURY TO THINK ABOUT WHAT HAPPENS NEXT.

I ONLY JOKE WITH MY KIDS AFTER MOMMY RETIRES, LET'S OPEN A CAKE SHOP AND MY BIGGEST DAUGHTER CAN PLAY PIANO AND MY YOUNGEST CAN BE THE CHEF.

SO THAT'S THE ONLY "PLAN," IF YOU WILL, WE HAVE MADE.

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