Eric Yuan quits and is a billionaire after 8 years. Now his project scares Google and improves long-distance relationships
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Eric Yuan had imagined Zoom when he was a college student. He didn’t know that it would become one of the most popular video conferencing platforms in the world. That he would become a billionaire, and have a net worth of over $6.2 billion today.
Making this climb was not easy for him: he had to go through a courageous dismissal and a wife a little annoyed by his choices. Which then changed its mind.
In short, he put everything into play: profession and family. How did he get it right? He followed a respected principle. If you keep reading I’ll explain it to you.
Let’s start step-by-step from how he came to be the genius of a company that has been incredibly successful, with millions of users and a market valuation of over 48 billion dollars. In 2019, Yuan was named Businessperson of the Year by Forbes magazine.
HE HAD ALREADY ARRIVED IN CISCO AND THEN …
Yuan was born in 1970 in Xiamen, China.
“I was a very shy and introverted kid. I was passionate about math, programming, and video games,” he explained in an interview.
Yuan moved to the United States in 1997 after obtaining a visa under the EB-1 program for “people with extraordinary abilities or achievements.”
There he studied computer science at Santa Clara University. Upon graduation, he worked as a software engineer at Webex, then purchased Cisco Systems. He then rose to become director of engineering.
In several interviews, he said that in his mind as a young university student he was sketching what would later become a reality.
He was thinking about how to break down the boundaries of the distance between the various countries of the world. Surely this desire of his will has influenced the fact that at 27 he flew thousands of kilometers from his state of birth and far from his traditions.
At the same time as a child, he was very outgoing and was not afraid of doing some crazy experiments. Once they were forced to call the fire department because he caused a fire in a chicken coop.
LITIGATION WITH THE BOSS AND THE CREATION OF ZOOM
WebEx, when it arrived, was a company of a couple of years. They had to create a system for holding online meetings.
“For the first few years I only wrote codes and was extremely busy,” explains the founder of Zoom.
In 2007, WebEx was bought by Cisco for $3.2 billion and Eric was chosen to lead the group of engineers who are part of WebEx.
However, the system presents too many problems: it is not very fluid and does not withstand the flows of too many connections.
This is why Yuan complains to his bosses who don’t want to hear him. So what does he decide to do?
In 2011, Yuan left Cisco. The following year he was already launching the first version of Zoom. It wasn’t very successful initially and had few users.
His wife was very worried. So much so that she didn’t believe in him and thought he had crazy ideas and made risky choices. How to quit a great job at Cisco.
But in 2013 things changed:
“A new version was released that allowed free 40-minute video calls with up to 100 participants. The app became popular and its user base began to grow exponentially. ”
In April 2019, the company went public on Nasdaq with great success: its share price jumped 80% on the first day of trading.
Thanks to the worldwide lockdowns that have taken place and to the many employees who have been forced to work in smart working, Zoom has depopulated and achieved success by overcoming Skype and Google Hangouts for the same services.
Zoom is now worth more than $48 billion and has over 300 million users worldwide. It is one of the most valuable startups in Silicon Valley.
But he hasn’t forgotten his origins. In 2018, he donated $30 million to Santa Clara University in scholarships for Chinese youth who want to attend the California university where he studied.
This incredible journey began almost by accident when Eric Yuan, still a student, drew up the first plans for what would later become Zoom. A project born from the desire to make the world a little closer and which today allows people to communicate regardless of distance.
WHY IS ZOOM BETTER THAN SKYPE?
Zoom is a cloud-based platform, which means it uses remote servers to process information and store the data rather than locally on your computer.
This has several advantages: first of all, you don’t need to install anything, you just need an account to start using the service. Furthermore, being cloud-based allows for more storage space and saves you from having to perform complex updates.
Another advantage over Skype is that Zoom offers end-to-end encryption, whereas with Microsoft’s software this is only available in the premium version.
This means your conversations will be better protected from prying eyes and potential cyber-attacks.
Finally, Zoom is much more intuitive and easier to use than Skype. The interface is immediately clear and you don’t need to be tech-savvy to understand how it works.
IT ALL STARTS WITH A VISION: CREATING A VISION OF YOUR LIFE
When you have a strong and clear vision of your life, it is much easier to make decisions that will help you move closer to your goals.
Without a vision, it’s easy to get caught up in the day-to-day and lose sight of what’s important.
But what exactly is a vision?
“A vision is a vivid picture of what you want your life to be like in the future.”
In Yuan’s case, it was a business project. But in your case, it could be a love affair, a public or private professional career, a hobby, or a vacation.
It is a statement of who you want to be and what you want to achieve. It’s a roadmap that will guide you through the ups and downs of life and help you stay on track when things get tough.
Creating a personal vision is one of the most powerful things you can do for yourself. It will give you a sense of purpose and direction and will help you make better decisions.
HOW TO CREATE A VISION FOR YOUR LIFE
There is no single formula for creating a vision, but there are a few key elements that all successful visions have in common.
1. Start with the end in mind
The first step is to think about what you want your life to be like in the future.
What kind of person do you want to be? What kind of things do you want to achieve, what kind of impact do you want to have on the world?
2. Keep it simple
Your vision should be clear and concise. It should be something you can easily remember and refer to when making decisions. 3. Make it specific To make your vision a reality, you need to be as specific as possible. This means setting tangible goals that can be achieved.
4. Write it
Writing down your vision will help you crystallize your thoughts and make them more concrete. Once it is written, you can refer to it whenever you need it and use it as a guide for making decisions.
5. Share it with others
Telling your vision to others will help keep you accountable and stay on track. It can also be helpful to find a community of people with similar visions to yours.
6. Be flexible
Your vision should be something that inspires and motivates you, but it’s also important to be flexible. Life is unpredictable and things will inevitably change along the way. The important thing is to stay focused on your long-term goals and adapt your tactics as needed.
With these last useful tips that you can share with your colleagues and friends, the story is over… and….
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