Zoom Chairman A New Billionaire Because of the Corona Crisis
Few people have become wealthy due to the Corona virus crisis, such as Eric Yuan, as founder and CEO of Zoom, the app that has become synonymous with videoconferencing for the general public committed to social divergence, to get Yuan what can be described as a wealth of wealth Confusion.
Last week, his personal stake in the company he founded nine years ago rose to more than $ 10 billion for the first time, pushing him into the ranks of the big billionaires in Silicon Valley.s.
With up to 300 million meeting participants every day at the height of April, the crisis has made Yuan in focus, culminating in his rise as an exceptional leader of Chinese origin for a startup in the “Silicon Valley”.
Rather, it has made his company vulnerable to scrutiny and has sparked a public outcry over security and privacy gaps.
Despite the large number of engineers of Chinese origin who maintain the smooth running of Silicon Valley, few have become heads of prominent local technology companies.
Yuan was born in Shandong Province in eastern China and trained in mathematics and computer science, before moving to the United States in the nineties of the twentieth century, to become an engineer with the company “Web X”, which provides online conference services.
After being acquired by Cisco, the profession within the networking equipment giant has become very attractive. But when Cisco refused to support an idea he had proposed to build a simple application designed for the new world of smartphones, he resigned in order to build it himself.
The rise of Yuan as the most prominent new Chinese American businessman in the “Silicon Valley” came at a time of heightened tension between the United States and China, as technology markets were a major source of conflict. Even more disturbing is that about a third of Zoom’s workforce is in China – a kind of regulation that was previously normal for an ambitious global company, but now it can seem a hindrance, after the pandemic made Zoom Zoom a household name, followed by What Yuan described as “rumors and misinformation” – questions about his personal loyalties, and doubts about whether his Chinese origin made “zoom” a front spy base under state care.
Last month, he issued a statement declaring his American identity – he became a citizen in 2007 – and affirmed that “Zoom” is rooted in the United States.
Yuan says he eats up the business books, looking for advice on how to better run his company. But he clearly feels uncomfortable with the stinging geopolitical currents he is stuck in.
Zoom-bombing – that is, hacking and disrupting private meetings – is the latest addition to a glossary of misconduct online, a series of software glitches that have also added to the problems.
Even after the difficult lessons he has gone through this year, Yuan is still struggling at times to bridge the gap between the business software worlds, where “Zoom” roots and the broader consumer market that has been involved has sprung up. This week, he made a slight fuss by saying that he did not intend to introduce terminal-encryption technology – the gold standard in security – for Zoom users, because that would prevent him from cooperating with law enforcement systems.
Zoom Chairman A New Billionaire Because of the Corona Crisis - /10
Few people have become wealthy due to the Corona virus crisis, such as Eric Yuan, as founder and CEO of Zoom,