WeChat: China’s Operating System

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[00:02:40] - [First question] - Overview of the super-app model

[00:04:43] - How apps and software from the Western world differ from WeChat

[00:06:19] - WeChat’s history in China and why it dominates differently than any US apps

[00:08:27] - Seeing WeChat as an OS within and app

[00:09:19] - How service unification in WeChat affects privacy, identity, and marketing

[00:13:16] - High-level analysis of their business model and reach

[00:16:53] - What Westerners would find surprising about using WeChat

[00:18:04] - History and functionality of WeChat Pay

[00:23:14] - The importance of their integrated Mini Programs

[00:25:56] - Factors impacting their margin structure

[00:28:51] - Holistic design philosophies for maintaining user engagement and trust

[00:30:44] - WeChat’s saturation point and how future growth might look

[00:32:02] - How they leveraged mobile-only coding, self-disruption, and internal competition

[00:37:21] - Initial app build simplicity for steady growth

[00:38:36] - How her understanding of WeChat influences her investment decisions

[00:41:47] - Western companies that have super-app potential

[00:43:52] - Exporting the philosophy of treating your app users like friends to Western developers

[00:44:25] - The relationship between WeChat and the suppliers on their multi-app platform

[00:47:14] - Uncertainty caused by software regulations in China

[00:47:53] - Attributes of her typical investments

[00:49:42] - Lessons for operators and investors when studying WeChat’s story