YouSaid · the spoken record

Shouzi Chew

lines on the record: 29
first: 2022-03-03
most recent: 2022-03-03
sittings or episodes: 1
sources: podcast

Every line below is reproduced as it was said and linked to the record it came from. Nothing here is summarised or generated. Directory · Search · Corrections

“Most focused on trust building. We are a young company, and I think trust is something that we have to earn through actions. For example, through our continued investment in safety. So that is a big focus for me, that we are focused on not only growing our business, but earning trust with the right stakeholders around the world along the way”
2022-03-03 · The David Rubenstein Show · Shouzi Chew · IDENTIFIED FROM THE TRANSCRIPT · source
“I don't think I have the ability to be that. I hardly understand the mathematics behind some of the more complex theories, but I find it very interesting.”
2022-03-03 · The David Rubenstein Show · Shouzi Chew · IDENTIFIED FROM THE TRANSCRIPT · source
“I do. I do. I do. I'm an amateur theoretical physicist, as in I'm reading books on theoretical physics and trying to understand it. So that's something that I love.”
2022-03-03 · The David Rubenstein Show · Shouzi Chew · IDENTIFIED FROM THE TRANSCRIPT · source
“There are a number of them. I am an amateur golfer, solf has 10 billion views or more on TikTok. It's very, very entertaining.”
2022-03-03 · The David Rubenstein Show · Shouzi Chew · IDENTIFIED FROM THE TRANSCRIPT · source
“It has been a challenging time, I think, for many businesses around the world, including ours. We are a growing company. It is difficult for new employees who are joining us to not have the opportunity to mingle and interact with other people offline in the offices. So it is something that thankfully we are at the stage of the pandemic where we can start thinking about return to office. It's something that we want to provide, especially the newcomers in our company, the right opportunities to integrate and to blend in and to make sure that they have the right opportunities to interact with as many people as they want.”
2022-03-03 · The David Rubenstein Show · Shouzi Chew · IDENTIFIED FROM THE TRANSCRIPT · source
“There are a couple of things that keep me awake at night. I think that's the question. The opportunity that we have, I believe that we have something that's very unique. We pioneered this sort of short video format. And we have a very unique community today that has all these kind of raw authentic content that people love. And I think the opportunity that we have to take this to more people around the world, to inspire them and for them to bring more joy to more people, this is a great and unique opportunity. It keeps me very, very excited. At the same time, there are challenges that we have to work through. For example, making sure that we are investing enough, more and more into safety to stay ahead of our growth, because it is something that's very important to us. So challenges and opportunities, both Excite me equally.”
2022-03-03 · The David Rubenstein Show · Shouzi Chew · IDENTIFIED FROM THE TRANSCRIPT · source
“It wasn't a headhunter. I've stayed very close to the folks and bike dance because of my early relationship with them. So they reached out. There's a little known fact about me, which is I used to be a creator. I actually had 185,000 followers on my account. And so I had to go through that process of learning how to connect with my followers and using the product. And it was an amazing way. I found the product so amazing in terms of being able to communicate the messages I wanted to my followers. So I love the product. I've known the team for a long time. I think that the mission is something that I really truly believe in. So when the opportunity opened up, it was very organic for me to travel.”
2022-03-03 · The David Rubenstein Show · Shouzi Chew · IDENTIFIED FROM THE TRANSCRIPT · source
“I had a great time there. The most important moment was I met my wife in business school. So to me, this is a great two years.”
2022-03-03 · The David Rubenstein Show · Shouzi Chew · IDENTIFIED FROM THE TRANSCRIPT · source
“The thing about growing up in a small island like Singapore, David, is you get Wonder Lust at a very young age. It's a tropical paradise. It's a tiny island. I love it, but it's very small. So after high school and after national service, we have national service there. I went to the UK for college and then subsequently to here in the US for business school where I met my wife.”
2022-03-03 · The David Rubenstein Show · Shouzi Chew · IDENTIFIED FROM THE TRANSCRIPT · source
“That's a very good question. I need to go back and think about it. I think most of what we do is followed and many people sort of thankfully have a lot of interest in our business today. So I'm not sure whether there will be any big surprises.”
2022-03-03 · The David Rubenstein Show · Shouzi Chew · IDENTIFIED FROM THE TRANSCRIPT · source
“Our current focus, given the growth of our company, is to really focus on the business. There is still so much we can do, especially for”
2022-03-03 · The David Rubenstein Show · Shouzi Chew · IDENTIFIED FROM THE TRANSCRIPT · source
“I think in this day and age, we have to be very collaborative and be very transparent and have an active dialogue with regulators and governments around the world to help them understand our business and to answer any questions that they may have.”
2022-03-03 · The David Rubenstein Show · Shouzi Chew · IDENTIFIED FROM THE TRANSCRIPT · source
“This is a very competitive space. In our industry, there are players with bigger muscles. They have more resources. They have been around for a longer period of time. And I think it keeps us on our toes. We have our strengths. We are pioneers in this. We believe that we are innovative and we will continue to innovate. And we have a very unique community that we talked about that we believe is very special and not easily replicable. We have our advantages, we are confident, but at the same time, competition is very intense.”
2022-03-03 · The David Rubenstein Show · Shouzi Chew · IDENTIFIED FROM THE TRANSCRIPT · source
“Our recommendation engine, the best way to think about it, is that it's just pure mathematics. It digests the behavior that our users have on our platform, including likes, what videos do you like, the comments, how long you stay on a particular video, so on and so forth. So signals like behavioral signals like that, and it recommends content that you could potentially be most entertained by. So that's really how that's really how the data is being used on our platform.”
2022-03-03 · The David Rubenstein Show · Shouzi Chew · IDENTIFIED FROM THE TRANSCRIPT · source
“We disagree with that. The ways TikTok is set up today, first of all, TikTok is not available for download in China. It operates outside of China The data for TikTok users is stored in Virginia and in Singapore with the backup in Singapore. And we believe that we have a very rigorous and robust system to protect the data security of our users.”
2022-03-03 · The David Rubenstein Show · Shouzi Chew · IDENTIFIED FROM THE TRANSCRIPT · source
“Again, we are taking the approach now to be very transparent, to be very engaged, very collaborative, and to answer any questions that they may have.”
2022-03-03 · The David Rubenstein Show · Shouzi Chew · IDENTIFIED FROM THE TRANSCRIPT · source
“We believe that our approach to all the governments and regulators around the world is to be collaborative and to be very transparent, to be available, to explain what we do and who we are and answer any questions that they have. That's the approach we have taken and that approach has been an approach that has been very beneficial for us over the course of the last few years.”
2022-03-03 · The David Rubenstein Show · Shouzi Chew · IDENTIFIED FROM THE TRANSCRIPT · source
“The original apps that were developed by ByteDance had a very similar concept, which was to recommend content to users based on machine learning algorithms that tries to understand the user's behavior. The first iteration of it that was successful was a news app. So it took news content and it recommended news to users based on their own behavior on the app. Now, sometime between 2012 and 2016, that evolved in the short video. And that evolved into TikTok.”
2022-03-03 · The David Rubenstein Show · Shouzi Chew · IDENTIFIED FROM THE TRANSCRIPT · source
“I was very fortunate about 10 years ago to have had the chance to participate in the company as an investor. Back then was founded in 2012 by Iming. And the original, like any good startup story, the original product has evolved over time and there were many hits and misses in the evolution of the company. One thing that has remained very consistent for Byte Dance is the mission. The mission for ByteDance today is to inspire creativity and to enrich life. And what I've noticed over the course of the decade that I've known the company is that they have been very consistent in wanting to deliver this mission to as many people as possible. And driven by this mission, what struck me in the early days of Bike Dance was the desire to be mobile, the focus on machine learning recommendation.”
2022-03-03 · The David Rubenstein Show · Shouzi Chew · IDENTIFIED FROM THE TRANSCRIPT · source
“We think it's challenging to build a global company in general, but the best ones we have seen so far are ones that take very consistent global learnings and adapt them to the local countries that they are operating in. So you need to be global and local at the same time. And it's something that we're investing in. For example, here in the US, we have a very sizable team here in New York and Austin in LA at this point. Becoming more local is something we will continue to invest in.”
2022-03-03 · The David Rubenstein Show · Shouzi Chew · IDENTIFIED FROM THE TRANSCRIPT · source
“I think for us, David, we are more focused on ourselves. I think over the long run, the biggest competitor that we have, as cliche as it's going to sound, is going to be ourselves. We have a mission, which is to inspire creativity and to bring joy. And we believe that our most important focus is to focus on delivering that mission.”
2022-03-03 · The David Rubenstein Show · Shouzi Chew · IDENTIFIED FROM THE TRANSCRIPT · source
“We are a very young company at this point, and they are still very big competitors in the market. Some of them have been around for a long time with a lot of resources. So the way we look at it, there's still a long way for us to go in terms of achieving the mission that we want to achieve. We think that there are a number of things that make us unique in the market. The first is that we are pioneers in what we do. We have innovated this form of short video combined with a 4U feed and we are confident that in the coming years we will continue to innovate on that front and bring the best and the most interesting value proposition to our users.”
2022-03-03 · The David Rubenstein Show · Shouzi Chew · IDENTIFIED FROM THE TRANSCRIPT · source
“The way our platform works, and my advice to anyone who wants to be famous on our platform is to just be themselves. What we have found is that this community wants real content. They want the real raw content. They want to see people being themselves. Many people tell me it's a breath of fresh air. It's the sunny corner of the internet. So my advice to anyone who wants to be famous is really to be themselves.”
2022-03-03 · The David Rubenstein Show · Shouzi Chew · IDENTIFIED FROM THE TRANSCRIPT · source
“We make money primarily through advertising and also providing services like live streaming and e-commerce to our users. And we do have a service fee that we charge to provide those services.”
2022-03-03 · The David Rubenstein Show · Shouzi Chew · IDENTIFIED FROM THE TRANSCRIPT · source
“Are several mechanisms to do it? The first is if you have enough followers, certain brands will get in touch with you either through us or otherwise for you to represent their brand. So you become the brand ambassador. So that's one way some of our creators get paid. Beyond that, we have provided them with tools to monetize, you know, to get in touch with their followers and to monetize that as well. For example, We have a live streaming service so as a creator you can launch a live streaming session and that is an exclusive session where you can interact with your followers and your followers can give you virtual gifts and that's one way you can monetize the other example is e-commerce we provide our creators with the tools to be able to sell merchandise on the platform as well this is still a new part of our business but it's something that people are very very excited about”
2022-03-03 · The David Rubenstein Show · Shouzi Chew · IDENTIFIED FROM THE TRANSCRIPT · source
“Been looking at my own TikTok recently, and I saw this video on TK's surf and turf. It is a restaurant in Denver. I think it's the first black-owned family-operated seafood restaurant in Denver. What I've heard is during the pandemic, business was poor for a lot of restaurants, including them. But what one creator did was to create videos on what great the restaurant was. It became an overnight sensation. It went viral, and now business is booming for that company. And there are thousands upon thousands of examples like that across the US and across the world. This is something that we are immensely proud of, that we have a platform. The small businesses can make use of to grow their business.”
2022-03-03 · The David Rubenstein Show · Shouzi Chew · IDENTIFIED FROM THE TRANSCRIPT · source
“Most of our users come on TikTok to share how they feel and to inspire the world. But there are people who come on TikTok and this is something we're extremely proud of. We have enabled them, we have given them the platform and the tools to actually make a proper living. And most of these are small businesses or individuals. I can give you an example.”
2022-03-03 · The David Rubenstein Show · Shouzi Chew · IDENTIFIED FROM THE TRANSCRIPT · source
“This is a great question. One of the most important things that I have been focusing on since I took on the role nearly a year ago is on the safety of our platform. It's something we take absolutely seriously and we have elevated this as a top priority for myself and for the company. We put a significant amount of investment into it and we believe that we need to continue to invest in trust and safety to stay ahead of our growth because of the growth of the platform. So for example, making sure that our community guidelines which are published transparently online are well understood by our users, making sure that we have the tools and the capabilities to ensure a safe environment, a safe and inclusive environment on our platform so that our users feel like it's a trusted environment to publish and to inspire the creativity they want to.”
2022-03-03 · The David Rubenstein Show · Shouzi Chew · IDENTIFIED FROM THE TRANSCRIPT · source
“I think you may be surprised. For example, there was something called book talk on TikTok. It is a hashtag and it really is a trend where people share short videos on their favorite books. And you'll be surprised how many views they have. We have 40 billion views on book talk alone. There are many other categories. There is clean talk, which is about people cleaning, 30 billion views. I personally am a very amateur golfer. Hashtag golf has more than 10 billion views on TikTok as well. So I believe there is something for everyone. The way we want to present this is we have a machine learning recommendation engine which personalizes your experience when you use TikTok. And we believe there's something for you as well.”
2022-03-03 · The David Rubenstein Show · Shouzi Chew · IDENTIFIED FROM THE TRANSCRIPT · source