The essence of Pinduoduo is Costco plus Disney. Value plus fun.

There are 600 million people in China who have never used e-commerce. That is our opportunity.

I do not think about competitors. I think about what users need that they are not getting.

Consumer surplus is the only real moat. If you give people more value than they expect, they will always come back.

I want to step back and focus on things that matter to me personally. Being a CEO forever is not one of them.