Founder of TikTok owner ByteDance tells employees to stay grounded and focused as company expands in size and value
- ByteDance CEO Zhang Yiming told employees to keep an ‘ordinary mind’ and make decisions without worrying about growth goals as the company moves closer to an IPO
- ByteDance’s valuation has surpassed that of Coca-Cola as it searches for new areas of growth, including gaming and education, while challenges overseas continue
Employees at Chinese tech giant ByteDance, the owner of TikTok, should keep an “ordinary mind” and executives should avoid thinking of the tech firm as a “large company”, founder and CEO Zhang Yiming said in an internal speech on Tuesday, even as the company’s value has reportedly surpassed the market capitalisation of Coca-Cola and rumours swirl about an upcoming initial public offering.
“If we position ourselves as a giant company, [we will spend time] thinking about how big companies should hold annual parties and make grand strategies,” Zhang said during a live-streamed address to employees that marked the ninth anniversary of the online entertainment start-up. ByteDance publicly released excerpts from the speech a day later.
“When we carry expectations, our actions will be distorted and easily complicated,” he said, referring to how titles can get in the way of thinking and making decisions.
In his hour-long speech, Zhang continually referenced the Buddhist concept of “ordinary mind”, telling employees to remain grounded, focus on understanding users and make decisions without being distracted by specific goals for growth.
“This year, I hope that the company’s mindset will slow down to a certain extent,” Zhang said. “On the one hand, we can avoid the burden of short-term thinking and, on the other, maintain a broad vision for the future without fixed expectations.”
