Empires - An Asian Business Podcast

How did Tencent turn a failed messaging experiment into WeChat - an app that would reshape everyday life in China? In Act 3 of the Tencent story, the conversation follows Allen Zhang, the legendary programmer who built Foxmail largely by himself before joining Tencent and eventually leading the creation of WeChat. But WeChat was not an immediate success. Its first version failed, Tencent faced competition from TalkBox and Xiaomi’s MiTalk, and the team had to rethink what mobile communication should look like in China. Episode breakdown: 00:00:00 Intro 00:01:22 Act 3: Tencent’s Next Evolution 00:02:04 Meet Allen Zhang, the Man Behind WeChat 00:03:03 How Foxmail Made Allen Zhang a Programming Legend 00:05:00 Why Tencent Acquired Allen Zhang 00:07:19 Allen Zhang’s First Major Failure at Tencent 00:10:36 The Beginnings of WeChat 00:11:27 How Kik Inspired Tencent’s Mobile Messenger 00:12:49 Why WeChat 1.0 Failed 00:13:41 TalkBox and the Voice-Message Breakthrough 00:15:31 WeChat’s Race Against TalkBox and MiTalk 00:17:44 The 2G Bet That Helped WeChat Win 00:22:56 How People Nearby Transformed WeChat’s Growth 00:25:31 WeChat Reaches 100 Million Users in 433 Days 00:26:00 How Moments Turned WeChat Into Social Media 00:30:28 How WeChat Helped Tencent Win the Weibo War 00:32:45 Tencent Builds WeChat Pay 00:34:59 The Digital Red Packet Masterstroke 00:37:45 How Red Packets Made Mobile Payments Go Viral 00:42:33 Why Alibaba Called It a “Pearl Harbor” Moment 00:44:10 Tencent’s Internet Plus and Mini Programs Strategy 00:49:25 Why 70% of Mini Program Developers Walked Away 00:52:04 The QR Code Solution That Changed Everything 00:56:25 The Enormous Economy Inside Mini Programs 00:58:37 WeChat, Privacy, and Surveillance 01:00:58 Claims About Overseas WeChat User Data 01:04:31 Why Super Apps Flourished in China 01:08:23 Could Super Apps Work Outside China? Made in Asia is a video podcast about the rise of major Asian companies. From food giants and technology platforms to legacy brands and emerging business empires, each episode unpacks how these companies were built, why they succeeded, and what they reveal about Asia’s place in the global economy. Subscribe to continue the Tencent story in Act 4 and for future episodes exploring companies such as Grab, Titan, and more. About the speakers: Guang Jin Yeo is the founder of 1UpMedia, a media company focused on building thoughtful, engaging content for modern audiences. His background in storytelling, content, and audience-building brings a sharp lens to how brands connect with people and remain culturally relevant. LinkedIn — / guang-jin Chuan Hoe Teo works in strategy at Google APAC and previously worked as a consultant at Bain & Company. His experience across strategy, business growth, and large-scale market thinking adds a grounded perspective to how major companies expand and compete. LinkedIn — / chuan-hoe-teo-65a622100

How did a proposal that got ignored for a month save a company that was nearly out of cash, and how did that same company go on to make enemies out of almost every major name in Chinese tech? Welcome to Made in Asia, a long-form video podcast exploring the companies, founders, and business empires that helped shape modern Asia. In Act 2 of the Tencent story, the chat app survives its first crisis, only to discover that surviving was the easy part.Episode breakdown:00:00:00 Intro 00:00:31 Act Two: Tencent Becomes Legendary 00:01:12 Tencent Tries to Restrict New QQ Accounts 00:03:54 The Strategy That Cost Tencent Market Share 00:06:24 The Korean Website That Changed Tencent 00:10:12 How SayClub Inspired QQ Show 00:13:01 Tencent Launches QQ Show 00:15:34 The Red Diamond Subscription 00:19:03 How QQ Show Changed Tencent’s Culture 00:21:59 Martin Lau and Tencent’s IPO 00:26:59 The Tencent IPO Creates Five Billionaires 00:27:30 How China’s Local Founders Beat the Copycats 00:30:27 Tencent Goes to War With Microsoft 00:32:48 Meet Jeff Xiong, Microsoft’s Secret Weapon 00:35:11 How QQ Fought Back Against MSN 00:40:55 Why Microsoft Lost the Messenger War 00:43:04 Jeff Xiong Joins Tencent 00:44:23 Turning Tencent Into a Scalable Company 00:45:53 The Microsoft Executive Who Joined Tencent 00:46:46 Microtransactions Versus Advertising 00:54:14 When Tencent Threatened China’s Telecom Giants 00:56:10 The Government Crackdown Begins 01:01:29 Tencent’s Revenue Split Falls From 85% to 50% 01:02:44 Super QQ Saves the Business 01:04:06 Tencent’s Telecom Ambitions Are Shut Down 01:12:04 The Lesson That Changed Pony Ma 01:14:19 Pony Ma’s “Online Life” Strategy and the Birth of QZone 01:16:28 QZone’s Early Growth Nearly Breaks the Platform 01:19:39 The Breakthrough That Transformed QZone 01:21:40 How Tencent Monetized QZone 01:24:40 Why QZone Struggled Beyond China’s Biggest Cities 01:28:41 How China’s Hukou System Shaped the Internet 01:34:44 Tencent Discovers the 51.com Threat 01:39:30 The Unlikely Founder Behind 51.com 01:41:35 How 51.com Took Over China’s Internet Cafés 01:43:38 51.com Becomes Tencent’s Number-One Enemy 01:45:54 Tencent Takes the Fight Offline 01:48:05 QZone Wins Traffic—but Loses Engagement 01:49:25 The Strange Story of Rainbow QQ 01:56:08 Tencent Takes 51.com to Court 01:58:10 Tencent Attacks Taobao and Baidu 01:59:09 Why Pony Ma Became “Public Enemy Number One” 01:59:42 A Tencent Cofounder Leaves and Martin Lau Steps In 02:03:54 Act 3 PreviewMade in Asia is a video podcast about the rise of major Asian companies. From technology platforms and food giants to consumer brands and industrial empires, each episode examines how these businesses were built, why they succeeded, and what their stories reveal about Asia's place in the global economy.Subscribe to continue the Tencent story in Act 3 and to watch future episodes about companies such as Grab, Titan, and more.About the speakers: Guang Jin Yeo is the founder of 1UpMedia, a media company focused on building thoughtful, engaging content for modern audiences. His background in storytelling, content, and audience-building brings a sharp lens to how brands connect with people and remain culturally relevant.LinkedIn: / guang-jin Chuan Hoe Teo previously worked in strategy at Google APAC and as a consultant at Bain & Company. His experience across strategy, business growth, and large-scale market thinking adds a grounded perspective to how major companies expand and compete.LinkedIn: / chuan-hoe-teo-65a622100

How did a failed pager business, a group of young programmers, and a rapidly growing chat app become the foundation of one of Asia’s most powerful technology companies? Welcome to Made in Asia, a long-form video podcast exploring the companies, founders, and business empires that helped shape modern Asia. In Act 1 of the Tencent story, we return to the beginning—long before WeChat, blockbuster video games, and billion-dollar investments. Episode breakdown: 00:00:00 Intro 00:01:41 Pony Ma Is Born During China’s Cultural Revolution 00:06:05 Pony Ma’s Childhood Obsession With Space 00:09:07 How China’s Opening Led to Tiananmen Square 00:13:13 The Tiananmen Square Turning Point 00:19:07 Pony Ma Enters Shenzhen University 00:21:49 Learning Programming and Interface Design 00:24:52 China’s Pager Boom 00:28:40 Pony Ma Discovers FidoNet 00:30:32 Meeting China’s Future Technology Leaders 00:33:28 Tony Zhang Joins the Story 00:39:21 Tencent Is Founded 00:41:51 Tencent’s Pager Business Fails 00:44:08 How ICQ Changed Everything 00:45:21 Tencent Builds OICQ 00:48:22 Pony Ma Bets Everything on OICQ 00:51:21 Why OICQ Took Off 00:56:26 Tencent Celebrates Its First 500 Users 01:01:03 Inside Tencent’s Intense Early Work Culture 01:02:28 How Tencent Got Its Penguin Mascot 01:09:06 One Million Users—and Almost No Cash 01:09:47 Pony Ma Tries to Sell Tencent 01:11:39 Jason Zeng and Tencent’s Hunt for Funding 01:13:26 Tencent Discovers Venture Capital 01:14:41 Pony Ma’s Surprisingly Honest Investor Pitch 01:16:29 Tencent Raises Its First Outside Funding 01:17:43 The Dot-Com Crash Arrives 01:18:35 Why AOL Bought ICQ 01:24:12 The Lawsuit That Turned OICQ Into QQ 01:26:07 Tencent’s Failed Attempts to Make Money 01:27:27 Why QQ Club Failed 01:29:48 Tencent Tries to Sell the Company Again 01:31:29 David Wallerstein Discovers Tencent 01:34:18 The Naspers Negotiation Begins 01:35:09 Tencent Discovers Value-Added Services 01:37:41 How Tencent Made Money From SMS 01:40:57 Tencent Finally Breaks Even 01:41:40 The Naspers Deal 01:43:13 The Investment That Returned 5,000 Times 01:43:39 How Tencent Rebuilt the Company 01:44:48 Act 2 Preview Made in Asia is a video podcast about the rise of major Asian companies. From technology platforms and food giants to consumer brands and industrial empires, each episode examines how these businesses were built, why they succeeded, and what their stories reveal about Asia’s place in the global economy. Subscribe to continue the Tencent story in Act 2 and to watch future episodes about companies such as Grab, Titan, and more. About the speakers: Guang Jin Yeo is the founder of 1UpMedia, a media company focused on building thoughtful, engaging content for modern audiences. His background in storytelling, content, and audience-building brings a sharp lens to how brands connect with people and remain culturally relevant. LinkedIn: / guang-jin Chuan Hoe Teo previously worked in strategy at Google APAC and as a consultant at Bain & Company. His experience across strategy, business growth, and large-scale market thinking adds a grounded perspective to how major companies expand and compete. LinkedIn: / chuan-hoe-teo-65a622100

How did Jollibee grow from a local food business into one of Asia’s most recognisable brands? Welcome to the first episode of Made in Asia, a long-form video podcast exploring the rise of the companies, brands, and business empires that helped shape modern Asia. In this debut episode, the conversation focuses on Jollibee: its origins, its expansion, the business decisions that fueled its growth, and the reasons it became such a powerful name not just in the Philippines, but across the world. Rather than looking at Jollibee only as a fast food chain, we explore it as a case study in branding, scale, culture, consumer loyalty, and Asian business success. Episode breakdown: 00:00 Intro 02:20 Tony Tancaktiong’s Early Life And Why He Was Different 05:11 How Big Jollibee Really Is Today 07:41 Tasting Jollibee: Chickenjoy, Spaghetti, And The Brand’s Signature Menu 09:27 Tony’s Family Background: From China To The Philippines 12:09 Growing Up In Davao And Learning The Family Food Business 14:12 The Smart Student Who Got Into Santo Tomas 15:31 The Field Trip That Changed Tony’s Life 16:26 Inside The Magnolia Ice Cream Factory That Inspired Jollibee 17:52 Borrowing His Parents’ Entire Savings To Start The Business 20:23 Tony’s First Stores And The Magnolia Ice Cream Bet 20:43 The Franchise Problem: How Do You Stand Out Selling Someone Else’s Brand? 21:32 The “American-Sized Service” Strategy That Helped Him Win Customers 27:48 From Two Stores To Six: The Early Expansion Begins 29:54 The Customer Feedback That Changed Everything 30:52 Why Tony Started Selling Burgers Instead Of Just Ice Cream 31:46 The Creation Of The Yumburger 55:09 Why Jollibee Needed One More Product To “Seal The Deal” 55:25 The Origins Of Chickenjoy 58:16 Yumburger, Spaghetti, Chickenjoy: The Formula That Scaled 01:18:30 Jollibee Vs McDonald’s: The Existential Fight 01:42:06 The Jollibee IPO And The Insane Investor Return 01:53:09 After The IPO: Expansion, Capital, And The Next Big Moves 01:54:15 Why Vietnam Became Jollibee’s First Major International Success 02:12:13 Turning To Acquisitions: The Start Of Jollibee’s Multi-Brand Era 02:12:18 The Story Of Greenwich 02:39:40 Chowking: The Brand That Emerged From Revenge 02:58:28 The Team That Turned Around 160 Stores 02:59:20 The Text Messaging System That Helped Fix Operations Fast 03:08:14 Mang Inasal: One Of Jollibee’s Most Important Acquisitions 03:09:12 Edgar Sia And The Rise Of Mang Inasal 03:23:35 The Insight That Made Mang Inasal Work 03:48:21 Jollibee’s Overseas Acquisitions Strategy Explained 03:49:00 Coffee Bean, Tim Ho Wan, Smashburger, And Premium Positioning 04:01:51 Outro About Made in Asia Made in Asia is a video podcast about the rise of major Asian companies. From food giants to tech platforms to legacy brands, each episode unpacks how these businesses were built, why they worked, and what they reveal about Asia’s place in the global economy. Subscribe for future episodes on companies such as Tencent, Grab, Titan, and more. About the speakers Guang Jin Yeo is the founder of 1UpMedia, a media company focused on building thoughtful, engaging content for modern audiences. His background in storytelling, content, and audience-building brings a sharp lens to how brands connect with people and stay culturally relevant. LinkedIn Chuan Hoe Teo works in strategy at Google APAC and previously worked as a consultant at Bain & Company. His experience across strategy, business growth, and large-scale market thinking adds a grounded perspective to how major companies expand and compete. LinkedIn

Apple changed how we use technology. Grameen changed how the poor use money. From one man’s frustration in famine-stricken Bangladesh to a global revolution in microcredit, Muhammad Yunus turned a $27 experiment into one of the world’s most powerful engines of poverty reduction. He wasn’t supposed to succeed. Banks refused him. Bureaucrats mocked him. Critics swore the poor could never repay loans. But Yunus proved everyone wrong. From the paddy fields of Jobra to the slums of Chicago, Grameen spread an idea that dignity, not charity, was the path out of poverty. Along the way, it became more than a bank. It became a movement. This is the story of Grameen Bank. Of how compassion and credit reshaped lives, industries, and the very meaning of wealth. Episode 1: The First DepositIn famine-stricken Bangladesh, a young economist lends $27 to 42 villagers. What happens next sets in motion a financial revolution. Episode 2: Promise to the Poor Banks dismiss his idea as madness. So Yunus signs his name as collateral and invents a radical new kind of banking. Episode 3: Business is WarTo prove microcredit works beyond one village, Grameen expands into Tangail - a district plagued by violence, rumors, and armed revolutionaries. Episode 4: Growth before the Storm Grameen becomes an independent bank. But just as it grows into a national force, one of the deadliest cyclones in history threatens to wipe it all away. Episode 5: Beyond Banking From fish ponds to textiles, from cell phones to America’s welfare system, Yunus takes the Grameen model global, imagining a future where poverty belongs only in museums. - Want to showcase your brand to listeners with a combined net worth of over $1 billion and a network of 100,000+ employees and industry contacts? Drop us an email: [email protected] - We're looking to grow our team! Support our productions by ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠buying us a coffee⁠⁠⁠⁠⁠⁠.⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ - Want to meet the team? ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Follow me here⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠!⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ - If you love the style of Empires, and want similar content, check out: 📝💕 "⁠⁠⁠⁠⁠⁠⁠⁠Post, Love⁠⁠⁠⁠⁠⁠⁠⁠", Essays on Love, Life and Everything in Between. (On ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Spotify⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠/ ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Apple⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠) 🔪🩸 "⁠⁠⁠⁠⁠⁠⁠⁠Heinous⁠⁠⁠⁠⁠⁠⁠⁠", A Revive Look at the Most Heinous Crimes in Asia. (On ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Spotify⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠/⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Apple⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠)