Rita Ho

Principles of Self-Belief and Professional History

  • Believing in Oneself: The speaker emphasizes that belief in oneself is a critical foundation for success, even when conditions (like a presentation or technical setup) are blurry or imperfect.
  • Experience in New York: The speaker recounted a story from two weeks prior in New York where they were hired by a CEO who forgot his wallet. This scenario served as a test of the speaker's willingness to help build the firm, which ultimately impressed the speaker.
  • Conscience in Business: During the financial crisis, the speaker notes a moment of choice where one could either pack up and go home or let their conscience lead them to continue working and doing what is right.

Strategic Tactics and the 2016 Meeting with the Chairman

  • The Boardroom Dynamic: In 2016, a meeting took place in a large boardroom with 12 individuals. Jim (a colleague or partner) was presenting from a large, prepared book of 45 items, but the audience appeared uninterested.
  • Tactical Shift: The speaker advised Jim to change his tactic. Instead of sticking to the formal presentation, they discussed Jim’s trip to China with Mayor Daley. This shift successfully engaged the board.
  • Political Context and Global Perception:
    • During the meeting in 2016, the political landscape featured the upcoming election between Hillary Clinton and Donald Trump.
    • The speaker noted that at that time, ‘everybody loves Obama in China.’
    • Chairman Ten (or Tan) asked Jim what would happen if Trump beat Hillary, showing deep concern about future US-China relations.

Partnerships and Expanding International Business

  • Key Institutional Partnerships: Major entities mentioned as partners or participants include:
    • Fortune 500 companies.
    • PepsiCo, Visa, and the Bank of China.
    • Pension funds: Illinois Pension, Teacher Pension, and various private pension funds.
  • Infrastructure Projects: A significant connection was established during the trip to China with the Mayor. This led to a ten-year supply contract for the CTA (Chicago Transit Authority) subways, where components built for the subway were shipped over to the US.
  • CGCC (China General Chamber of Commerce): The speaker describes this as a chamber of commerce for corporations in the USA, with approximately 1,000 members. It serves as a networking hub for corporate leaders.

Evolution of Market Activities (2017–2025)

  • Major Milestones:
    • 2017: Focus on Shenzhen and high-tech development (described as a high-tech hub).
    • 2018: Partnership involving Mastercard.
  • First Mergers and Acquisitions (M&A): The speaker mentions a first M&A deal involving a person named Rebecca, who made hair products.
  • Projections for 2025:
    • Building new factories to hire local people and provide jobs.
    • Development of shopping centers rather than just campuses.
    • Support for engineers to go to China to learn skills and return to build batteries locally.

Technological Innovation: EV Charging and Capital Management

  • Mobile EV Charging: Working with Eddie on a mobile charging solution. Instead of the user going to a static plug, they use an app to request a charging unit to come to them.
    • The cost cited is approximately 20 USD20\,USD per charge.
    • This is presented as being significantly cheaper than the energy costs of charging in a building.
  • Raising Capital: The corporations involved have helped raise a total of 1,500,000,000,0001,500,000,000,000 (one trillion five hundred billion dollars).
  • Capital Swapping: The process involves raising capital as RMB (Renminbi) in China and then swapping it to USD (US Dollars) through the Bank of China. This involves various departments, including treasury, FX (Ethics/Forex), and courtesy departments.
  • Balance Sheet Deployment: Previously, Jim would restrict inventory to no more than 50,000,00050,000,000. However, with the Bank of China as a partner, there is access to an ‘unlimited balance sheet.’ Success depends on one's ability to direct and guide the deployment of those resources.

Personal Resilience and Career Challenges

  • Early Career at JPMorgan: The speaker worked at JPMorgan and other firms. They describe being the only Asian, the only woman, and the only young person with two Master’s degrees on the trading floor at 06:30 AM.
  • Facing Discrimination: The speaker encountered sexism and harassment on the trading floor (e.g., jokes about their last name, Ho). They emphasize that you must go to work despite these challenges and prove you can do the job better than those who tease you.
  • Old Office Conditions: In contrast to current offices, previous workspaces 20 years ago were described as being in poor condition, with reports of roaches and rats.

Questions & Discussion

  • The Ethics of Client Communication (Question from the audience):
    • The speaker stresses the importance of never lying to clients.
    • They argue against the tendency to exaggerate. If you do not know an answer, it is better to admit it and promise to check rather than making it up.
  • Handling Competition and Negativity (Question from Yami):
    • The speaker uses an analogy with the Knicks (New York Knicks) and Brian. When a team or country (like China) is poor, people may not care, but as they begin to perform well and pose a threat, criticism and hate increase.
    • The message is to learn to overcome hate. Success will naturally invite attempts by others to stop you or keep you out. If you stop because of them, you fail.
  • Future Sectors and Intellectual Property (Question from Brian, New York Office):
    • Brian asked about new sectors beyond battery technology (Gotion/Goshen), such as AI, renewable energy, and international expansion.
    • The speaker identifies IP (Intellectual Property) and IT (Information Technology) as the next major frontiers.
    • They mention working with the University of Chicago to explore advanced intellectual property development, which they found to be a ‘mind-blowing’ opportunity discovered six months ago.