On May 19, it was reported that Yu Minhong, chairman of New Oriental, was a guest on Air Yabuli's live broadcast.

Yu Minhong said during the live broadcast that the path of starting a business requires putting all of your net worth and life into it. If you encounter any hardships and hardships, unforeseen circumstances, or even humiliating situations, you have to do it in order to develop your business. “It's like when I drank and rescued people at the hospital for 5 hours in order to be able to make the development environment of New Oriental a better place, and in the end I barely survived.”

Yu Minhong feels that young entrepreneurs are different from the entrepreneurs of the previous generation; the entrepreneurs of the previous generation were unable to borrow much external power. Yu Minhong said, “The first generation of our generation took all of our net worth and lives.” Yu Minhong recalled that when he first started New Oriental, his monthly salary was 60 yuan, which was the living expenses of the whole family. In order to be able to attend classes, he spent 30 yuan to buy 10 cassettes and had a lot of trouble with his family.

Yu Minhong mentioned that many startups have gone out of business over the years, and individuals have not been affected at all, because these people (young entrepreneurs) took investors' money. After spending the investors' money, the company went out of business. Yu Minhong said, “At least hundreds of companies I have invested in have gone out of business, but these people are all living well.” (Text | “Financial World” Weekly Liu Zhen)