About Pinduoduo not valuing shareholder returns

The biggest criticism comes from the fact that every time financial reports are released, management undercuts themselves by saying things like the future will be more difficult, profits will be harder to achieve, competition will be greater, and the external environment will be very challenging, and so on.

Moreover, with hundreds of billions in cash on hand, currently earning interest of hundreds of billions each year, they do not pay dividends or repurchase shares.

But does that mean they do not value shareholder returns? Of course not.

Instead, it is those who constantly hype themselves up and then frantically sell off who are really exploiting the shareholders...

A huge amount of cash may seem considerable, but knowing the ambition of Pinduoduo makes it seem insignificant.

Munger says a person only needs to become rich once.

Huang Zheng will only start a business this one time; as a disciple (friend) of the unique master, he will only do the right things, and these right things will make him the largest retail e-commerce in the world, having already beaten Taobao and JD, and in the future, he will defeat Amazon, Walmart, and Sam's Club.

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