We beat Uber in China. That should have been the biggest victory in ride-hailing history. Instead, it was a footnote before the regulatory storm.
Uber spent $2 billion trying to beat us in China. They lost. Markets are won by the company that understands local culture, not the company with the most funding.
The two-year app ban cost us millions of users. Rebuilding that trust and market position is the hardest thing we have ever done.
Autonomous driving is our future. The regulatory relationship is complicated, but the technology is real and the opportunity is massive.
550 million riders. 15 million drivers. That is not a startup. That is a transportation network serving a significant portion of humanity.
We went public in New York. Days later, Beijing removed us from app stores. The lesson: in China, the government is your biggest stakeholder whether you like it or not.