For the last decade of his life, Li Xiang felt fortunate. He experienced the golden decade of China's Internet. For the next ten years, he has his own plans and expectations.
Li Xiang
"In this world, there are more people who can find problems than the number of rats, and there are even more people who can identify problems and propose solutions than the number of cats. However, those who can not only identify problems but also propose solutions and act quickly on them are as rare as pandas. Whether you choose to start a business or seek employment, just be a cool panda."
——Excerpt from 80s CEO Li Xiang's quotes
"I want to control my fate and take charge of my life."
Nowadays, when you search for "BMW" online, besides the official BMW website that appears at the top of the results, the first search result is "Che168". And its CEO is Li Xiang.
At the age of 29, Li Xiang, who started his entrepreneurial journey at 18, has become a role model for the post-80s generation. As the CEO of "Autohome" and "Che168", Li Xiang said, "My choice of BMW as my ride is simple; it's the driver's car, and it aligns with my personality of taking control of my life."
Back then, this cherry-red BMW 325i, adorned with the label "Autohome Long-term Test," always became the center of attention on the road. It was common for other cars to chase and surround it. However, male drivers who managed to catch up were often disappointed because they assumed the driver of this red BMW would be a beautiful woman...
At the age of 29, he leads a team of over 500 people. When facing almost all media, his words are brief, like a mature elder, rather than someone still in their late twenties.
"I want to control my fate and take charge of my life." This is a phrase he often mentions during interviews. Over these 29 years, he has continuously proven this statement through his actions.
When Li Xiang first touched a computer, he was still a high school student in Shijiazhuang.
By the end of his first year in high school, all his classmates knew that if they wanted to buy or assemble a computer, they had to find Li Xiang. Li Xiang realized that, first, this was something he was passionate about; second, he could create value for others, ensuring they wouldn't get ripped off and could obtain cost-effective computers; third, the profit was good, as he could receive a commission from selling computers.
"In my first year of high school, my greatest joy wasn't attending class, but helping others build computers, using the money I earned to upgrade my own computer. On one hand, it satisfied my endless fascination with computer hardware, and on the other, it gave me a sense of personal value beyond academic achievement, leading me to where I am today."
"I started using the internet in my final year of high school, and back then, going online was quite expensive, costing around 700 to 800 RMB per month." At that time, personal websites were at their peak. Li Xiang also joined in. Apart from attending school, he devoted all his time to computers.
"At first, I did it for fun, but I have a competitive nature. If others did well, I wanted to do better." Many of his classmates had computers, but Li Xiang studied computers much harder than the rest—during the same period, he read 50 to 100 times more computer books than textbooks.
He put all his favorite computer hardware products online, and many people interacted with him online, gradually increasing his website traffic. Within three to five months, daily visits had exceeded ten thousand. Advertisers soon approached him.
"At that time, if your website was good, people would invest in you without any specific requirements—they just wanted their ads displayed." Back then, Li Xiang's website generated six to seven thousand RMB in advertising revenue monthly, which was unimaginable for a high school student.
Making money, in Li Xiang's eyes, gradually became an easy thing. However, he continued to work tirelessly.
In July 1999, while his classmates were struggling in the college entrance exam, Li Xiang chose to skip the exam because he was busy starting his own website. He found a cause worth devoting himself to.
At that time, Li Xiang was a grassroots individual, even considered a bad student by teachers. When he said he would give up the college entrance exam to pursue entrepreneurship, the teacher didn't even try to persuade him—it was beneficial for the school's admission rate if the "underperforming" Li Xiang left. But Li Xiang didn't care because his junior high school teacher's words stayed with him for life: "You may not excel academically, but you must be a good person."
His father still clearly remembers the reason his 18-year-old son gave for not continuing school: "The Internet is a market with unlimited potential. If I don't seize it now, by the time I finish four years of university, it will already be occupied by others."
Thus, the prototype of PaoPao.com was born.
Entrepreneurial Journey: Full of Twists and Turns
At that time, the Internet was not yet widespread, and many people thought "PaoPao.com" meant "internet cafe." The local Administration for Industry and Commerce told Li Xiang that he needed a certificate from the police department to register.
So every day, this young CEO who skipped the college entrance exam rode his bike to a two-bedroom apartment near Hebei University of Science and Technology to work, working with three other young people for over 15 hours continuously. When hungry, they ate instant noodles. Li Xiang didn't have time to boil water or even bother to prepare the noodles—he spent his working hours eating dry noodle cakes.
By 2003, PaoPao.com was thriving, with profits steadily rising. However, a crisis quietly emerged. This crisis still makes Li Xiang uneasy when he looks back on it.
Half of PaoPao.com's editors were planning to quit. The entire operation of the site depended heavily on the editors, so losing half of them would deal a significant blow to PaoPao.com.
Li Xiang was anxious and immediately began calling each editor personally. Each one told him they had already taken jobs with his competitors, who offered attractive salaries.
The next day, Li Xiang went to the office and met with the few remaining leaders. They decided to hire new staff immediately, even if they were inexperienced, and train them personally. In just one week, PaoPao.com returned to normal operations. The competitors who had spread rumors that both PaoPao.com and Li Xiang were doomed suddenly fell silent.
In 2005, PaoPao.com ranked as the third-largest Chinese IT website, generating nearly 20 million RMB in annual revenue and making 10 million RMB in profit. At that time, however, Li Xiang began considering transitioning to automotive information.
"I realized that even if I worked 50 hours a day, I couldn't surpass the top two, so I had to look for other growth markets," Li Xiang said. "In the IT industry, you only gain the power to speak and set rules once you become the leader." Thus, Li Xiang embarked on a difficult transition. Autohome was born.
In 2006, at the age of 25, Li Xiang received the award for Top Ten Entrepreneurial Newcomers of the Year, becoming the first post-80s recipient of this honor. Five years earlier, Baidu CEO Robin Li had also won this award, as did other renowned IT elites such as William Ding, Charles Zhang, and Jerry Yang, who swept various honors.
When the media came calling, the marketing director of Autohome devised a plan, gathering three other peers who emerged during the golden decade of the Internet to appear together on the cover of the magazine "China Entrepreneur," promoting them as role models for the post-80s generation. The "Four Young Lords of Beijing"—Li Xiang, Mao Kankan (President of Majoy), Dai Zhikang (CEO of Beijing Kangsheng Century Technology Co.), and Gao Ran (CEO of China Entertainment Network)—became overnight celebrities.
The reputation of the post-80s generation improved accordingly, no longer being demonized by the media as "a lost generation." Within half a year, on average, one media outlet reported on Li Xiang every day. IT media, financial media, youth media, lifestyle media, and even fashion media covered him.
Li Xiang himself didn't care about the media hype. He remained diligent in his daily life and bold in his work. The biggest benefit of the hype for Li Xiang was "saving at least 20 million RMB in advertising costs."
In the second half of 2006, setbacks returned. He faced the biggest crisis since starting his business: both the management and general employees opposed Li Xiang's transformation. Everyone believed PaoPao.com had become a stable and mature site; transitioning to Autohome seemed like throwing away millions of yuan annually, like burning money with no trace left behind.
For those who disagreed with his concept, Li Xiang didn't insist on convincing them but silently persisted with his own ideas. He neither tried to retain them nor forced them to stay. Within a few days, hundreds of employees resigned en masse.
Having learned from the first mass resignation, Li Xiang remained calm. He still chose to stick to his dream, moving forward step by step. In 2008, Autohome broke even and entered a high-return phase, continuing until today.
"Thirty and Established"
By 2010, Li Xiang was already 29 years old, nearing the end of his "approaching thirty" journey. He reflected on this issue in his blog at the beginning of the year.
In his blog, Li Xiang wrote: "Being established by thirty has nothing to do with age; most people only reach this stage by this age. More tragically, most people never achieve it and spend their lives anxiously. Being established simply means understanding one's value and activating the drive to fight for it."
Unlike other entrepreneurs whose blogs mostly promote their companies or discuss economic trends, Li Xiang's blog contains more reflections on his life and career. Through his blog, one can glimpse his real life. Approaching thirty, Li Xiang remains genuinely unchanged.
He once uploaded a reunion photo of the "Four Young Lords of Beijing" on his blog and humorously referred to himself as a "quasi-middle-aged man." Meetings among the "Four Young Lords of Beijing" became fewer: Gao Ran was increasingly busy with business and social engagements, "becoming more like a businessman"; Mao Kankan pursued training in addition to playing live-action CS; Dai Zhikang was rarely seen, having become the top player in forum platform software and now venturing into e-commerce platforms.
Only Li Xiang remained true to himself, living a regular daily life.
Before the Lunar New Year, he wrote in his blog: "People should approach things with an ordinary heart, and everything will turn out well." He always lived with an ordinary heart.
"First, one must be responsible for oneself before being responsible for others. How can someone who isn't responsible for themselves be responsible for others? Under the condition of not harming others, one must prioritize oneself—how can someone who hasn't tasted sugar offer sweetness to others? Pursuing benefits reasonably is perfectly normal; under the condition of being good to oneself and responsible for oneself, one can extend kindness to others."
This was also like his year-end summary. We can see how this sharp post-80s entrepreneur is gradually maturing.
For the last decade, Li Xiang felt fortunate. He encountered China's rapidly growing decade and the golden decade of the Internet.
For the next decade, unlike many young people who take things step by step, he has his own plans and expectations.
"Now, the auto website I'm responsible for has become the most visited auto website with an absolute advantage. By the end of 2010, you'll find that our used car section will also become the largest in terms of visits and transactions, although many people don't believe it. Becoming the best in specific important fields is my interest, and it's also the biggest motivation for my work and career."
His dream for the next decade also includes: listing the company on NASDAQ; and like all the older generations who were once young, getting married and having children at the right time.
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