Core Insights - The core issue revolves around the disconnect between the company's leadership and its employees, highlighted by the contrasting experiences of the founder, Yu Minhong, who celebrated New Oriental's 32nd anniversary in Antarctica, while employees faced intense work pressure and declining morale [1][2][3]. Financial Performance - New Oriental's financial results for the fourth quarter of fiscal year 2025 showed a significant decline, with net profit dropping by 73.7% to $7.1 million, and core education business growth slowing from 43.9% to 13.6% [1][18]. - The company's net revenues increased by 9.4% to $1.24 billion, but operating income turned negative, resulting in an operating loss of $8.67 million [19]. Employee Sentiment - Employees expressed frustration over the leadership's lack of awareness regarding their work conditions, with one employee stating that the boss feels increasingly distant [3][20]. - The work environment has become more challenging, with increased performance pressure, reduced bonuses, and stricter attendance policies, leading to a sense of disillusionment among staff [2][3][4]. Cultural Dynamics - New Oriental has a culture that allows for employee feedback and criticism, which has historically been encouraged by Yu Minhong. However, this culture is now being tested as employees feel their voices are less impactful [10][12][20]. - The traditional camaraderie between employees and management is eroding, with employees feeling that their concerns are not being addressed, leading to a growing divide [20][21]. Leadership Actions - Yu Minhong's recent actions, such as his trip to Antarctica and the internal letter celebrating the company's history, have been perceived as tone-deaf in light of the current employee struggles [1][2][3]. - The company has attempted to maintain a public image of openness and humor, but this may not translate into meaningful change for employees facing real challenges [12][14].

Core Viewpoint - New Oriental's founder Yu Minhong's recent letter from Antarctica, themed "Perseverance in Ice and Snow," reflects on the company's journey and future aspirations, but it has sparked criticism for being out of touch with employees' realities [1][2] Group 1: Company Aspirations and Employee Sentiment - Yu Minhong envisions New Oriental as a "sower of hope," with Oriental Selection representing "the conscience of merchants," and New Oriental Culture and Tourism aiming to "help more people carry the world in their hearts" [1] - The letter, filled with idealistic sentiments, did not resonate as expected with employees, leading to mockery and criticism, highlighting a disconnect between management's vision and employees' current struggles [1][2] - Employees are facing significant pressures related to performance and personal finances, contrasting sharply with the founder's idealistic declarations from a luxurious location [2] Group 2: Communication and Management Challenges - The core issue is not the founder's presence in Antarctica during a challenging transformation but rather the need for effective communication between management and employees [2][3] - Employees desire discussions on how the company will address challenges and support their career development, rather than abstract idealistic statements [2] - There is a need for management to understand and respond to employees' real challenges, shifting focus from "I" to "we" to foster a more inclusive dialogue [3]

Core Insights - The article discusses the rise and fall of Li Xiaolai, a prominent figure in the cryptocurrency space, who transformed from a teacher to a "Bitcoin tycoon" and later faced significant backlash due to his controversial statements and actions [1][3][5] Group 1: Li Xiaolai's Journey - Li Xiaolai initially worked as an English teacher at New Oriental, earning around 700,000 RMB annually before venturing into Bitcoin [19][21] - He recognized the potential of Bitcoin early on, investing significant amounts and eventually holding a six-figure quantity of Bitcoin, leading to a net worth exceeding 100 million RMB [29][31] - His rise to fame included publishing books and conducting seminars, with his book "The Road to Financial Freedom" generating over 35 million RMB in revenue [31] Group 2: Market Dynamics - Bitcoin's price surged from less than $0.05 to over $110,000 by September 2025, attracting both early adopters and latecomers [15][56] - The cryptocurrency market is characterized by high volatility, with Bitcoin experiencing a price drop of over 78% in 2018, which affected many investors [33][54] - Institutional investors began entering the Bitcoin market, making it more challenging for retail investors to capitalize on price movements [56] Group 3: Controversies and Reputation - Li Xiaolai faced severe criticism after a leaked recording where he referred to retail investors as "fools" and admitted to profiting from market manipulation [37][38] - Despite winning a lawsuit against the leak, his public image suffered irreparably, leading him to withdraw from the investment scene [42][58] - He later shifted focus to education, discussing topics like English, programming, and artificial intelligence, while reflecting on the lessons learned from his Bitcoin experience [44][60] Group 4: Investment Philosophy - Li Xiaolai emphasizes the importance of understanding one's risk tolerance and capabilities in investing, advising against blind speculation [46][50] - He acknowledges that while Bitcoin can lead to financial freedom, it also poses significant risks, similar to traditional stock markets [48][50] - The article concludes that individuals should focus on their strengths and maintain a stable lifestyle rather than chasing high-risk investments [52][60]

Core Viewpoint - The article discusses the phenomenon of "celebrity paradox" faced by successful entrepreneurs like Lei Jun and Yu Minhong, where their high visibility and success lead to increased scrutiny and criticism, despite their achievements [3][10][14]. Group 1: Lei Jun and Xiaomi - Lei Jun has effectively tied his personal brand to Xiaomi's success, utilizing video content and live streaming to engage users and showcase the company's values [3][7]. - The success of Xiaomi and Lei Jun's personal brand has raised user expectations, leading to amplified criticism when internal issues arise, such as discrepancies between marketing and product delivery [8][10]. - The article highlights that past tolerable mistakes are now viewed as unforgivable due to the high expectations placed on Lei Jun as a prominent leader [10][14]. Group 2: Yu Minhong and New Oriental - Yu Minhong transitioned from a struggling education business to live-streaming e-commerce with Dong Yuhui, showcasing resilience and adaptability [12]. - The dual roles of being a "father figure" and a "business leader" create challenges for Yu Minhong, as he struggles to balance emotional engagement with professional management [13][14]. - Similar to Lei Jun, Yu Minhong's visibility leads to heightened scrutiny, where even minor issues are magnified due to the expectations of his public persona [14][18]. Group 3: Managing the Celebrity Paradox - The article suggests that entrepreneurs should focus on being a credible endorsement for their brand rather than seeking widespread popularity [15]. - It emphasizes the importance of aligning personal branding with the company's core values and audience expectations, avoiding the pitfalls of trying to please everyone [16][20]. - Successful personal brands should aim for deep emotional resonance with a specific audience, rather than seeking the largest common denominator [20].

Core Viewpoint - The article discusses the importance of empathy and understanding in workplace communication, particularly in the context of employee feedback and management responses [1][2][3]. Group 1: Employee Feedback and Management Response - The company encourages employees to express dissatisfaction, viewing it as a tradition that allows for timely corrections and improvements [1]. - There is a noted disparity between the macro perspective of management and the micro experiences of employees, leading to misunderstandings [2]. - The commitment to "timely correction" by management signals a positive approach towards addressing employee concerns [1]. Group 2: Empathy and Communication - Empathy should be a two-way street, requiring management to not only listen but also actively identify and address employee issues [1][3]. - The article emphasizes the need for a structured feedback loop within the organization, transforming complaints into constructive actions [3]. - Healthy organizations should embrace complaints as opportunities for evolution and respond to them systematically, which is a key aspect of modern leadership [3].

Core Viewpoint - The founder of New Oriental, Yu Minhong, emphasizes the importance of employee feedback and plans to support a trip to Antarctica for selected employees, while addressing misconceptions about travel costs [1][2]. Group 1: Employee Engagement and Company Culture - Yu Minhong encourages employees to voice their grievances, stating that any dissatisfaction reflects issues within the company that need to be addressed [1]. - On the 32nd anniversary of New Oriental, Yu draws parallels between the resilience of penguins in Antarctica and the unity of New Oriental employees in facing challenges [2]. Group 2: Future Initiatives - New Oriental plans to establish a dedicated youth exploration center, focusing on natural education for children [2]. - A specialized Antarctic exploration trip for teenagers is expected to launch next winter, indicating a commitment to experiential learning [2]. Group 3: Clarification on Travel Costs - Yu Minhong clarifies that the cost of traveling to Antarctica varies significantly, ranging from 50,000 to 300,000 yuan, with the advanced icebreaker used by him costing between 200,000 to 250,000 yuan for a 12-day trip [1].

每经编辑｜金冥羽 黄博文 俞敏洪南极贺信的舆情风波仍然在发酵。他乘坐的邮轮，在舆论场上撞上了职场人情绪的冰山，散发出阵阵寒意。 然而，从本质上来说，这是一场错位的舆情风波。因为俞敏洪不过是在新东方32周年的时候发了一封内部贺信，他期待的只是员工的共鸣与感动。 据称是内部员工的各种吐槽，其身份尚且存疑。即便为真，这反而也在一定程度上证明，这是一家氛围宽松、员工能畅所欲言的企业。俞敏洪在最新的回 应中也表示，允许员工吐槽公司是新东方的传统。 更重要的是，俞敏洪的财富积累是在市场经济中奋斗的成果。他这张通往南极的船票，也属于个人消费自由的范畴，很难说是一些网友说的"吃大餐吧唧 嘴"的炫富行为，我们可以羡慕并自我激励，但不必嫉妒和恨。 普通职场人或许坐不起票价高达26万元的邮轮，但可能也不曾承受那些光鲜表面背后的巨大压力和磨难。虽然企业家与普通人的财富差距可能有云泥之 别，但本质是社会分工不同，各有各的艰辛，各有各的奋斗，这正是我们与企业家"同船而行"的本质。 既然在同一条船上，我们也需要跨越理解的鸿沟，寻求更多的共识。 新东方的待遇福利，以及俞敏洪与员工的关系，终究只有新东方员工有亲身感受的发言权。所谓冷暖自知，不 ...

Core Viewpoint - The controversy surrounding New Oriental's chairman, Yu Minhong, regarding his trip to Antarctica has sparked discussions about employee sentiment and company culture, highlighting the disparity between leadership experiences and employee workloads [7][14]. Group 1: Trip Details - Yu Minhong clarified that the cost of the Antarctic trip was misrepresented, stating that the price for the advanced icebreaker ship, "Shagu," ranged from 200,000 to 250,000 yuan for a 12-day journey, rather than the 1.48 million yuan reported [1][10]. - The "Shagu" ship offers various itineraries, with the lowest price for a 13-day trip starting at approximately 260,000 yuan per person, while a 29-day trip can reach up to 1.48 million yuan [12][13]. Group 2: Employee Relations - Yu Minhong emphasized the importance of allowing employees to express dissatisfaction, indicating that the company culture at New Oriental is relatively relaxed, where employees can openly criticize leadership [3][14]. - The backlash from employees regarding Yu's trip reflects a broader sentiment, with comments highlighting the contrast between the chairman's leisure activities and employees' work commitments [7][8]. Group 3: Business Strategy - The trip to Antarctica may serve a strategic purpose for New Oriental's emerging cultural tourism business, which has seen an 85% revenue increase in the third quarter of the 2025 fiscal year [14]. - The public reaction to Yu Minhong's trip may be an oversimplification of a complex situation, as the narrative often reduces nuanced circumstances to binary oppositions [14].

Core Points - The core issue revolves around the controversy sparked by the founder of New Oriental, Yu Minhong, sending a letter from Antarctica to employees on the company's 32nd anniversary, which was perceived as disconnected from the employees' realities [1][3][4] Group 1: Company Background and Events - New Oriental celebrated its 32nd anniversary on November 16, with Yu Minhong reflecting on the company's journey and future plans in a letter themed "Perseverance in the Ice and Snow" [1] - The letter, intended to motivate employees, instead led to backlash as many employees felt unable to empathize with the founder's experience while they were working overtime [1][3] - Following the controversy, Yu Minhong responded in a video on November 18, stating that his trip to Antarctica was to discuss the future of natural education for Chinese children, announcing plans to establish a youth exploration center [1][3] Group 2: Employee Sentiment and Public Reaction - The letter's content, which emphasized Yu Minhong's personal experiences in Antarctica, was criticized for lacking acknowledgment of employee pressures, leading to a perception of a disconnect between management and staff [3][4] - Social media reactions highlighted the stark contrast between the founder's luxurious trip and employees working during the anniversary, coining the phrase "boss in Antarctica, employees working" [3][4] - The public interest in Yu Minhong surged, with the WeChat index for his name rising from around 150,000 on November 16 to nearly 20 million by November 18 [1] Group 3: Financial Performance and Business Strategy - New Oriental has been facing challenges in its business transformation, particularly after the departure of key personnel, which has affected the performance of its subsidiary, Oriental Selection [6][7] - Financial reports indicate that for the fiscal year 2025, Oriental Selection's revenue, profit, and gross merchandise volume (GMV) are expected to decline significantly, with net profit projected at only 6.2 million [7] - New Oriental's overall revenue for the fourth quarter of fiscal year 2025 was reported at $1.243 billion, a year-on-year increase of 9.4%, but it also faced an operating loss of $8.674 million, a significant decline compared to the previous year [7] Group 4: Future Directions and Challenges - New Oriental aims to explore the tourism sector as a third growth curve, with plans for a separate IPO for its tourism business, which has yet to show significant results in financial performance [8][9] - The company has established numerous subsidiaries under its tourism brand and invested in various travel-related ventures, indicating a strategic shift towards diversifying its business model [10] - Experts suggest that while the tourism direction is promising, the company must innovate its offerings and build a comprehensive service system to differentiate itself in the competitive market [10]

Core Viewpoint - The chairman of New Oriental, Yu Minhong, addressed the backlash regarding his recent trip to Antarctica and emphasized the company's tradition of allowing employee feedback and criticism [3][4]. Group 1: Employee Engagement and Company Culture - Yu Minhong stated that allowing employees to voice their grievances is a tradition at New Oriental, and he encourages this practice as a means to identify and correct issues within the company [3]. - He mentioned that there are instances of individuals impersonating New Oriental employees online, but he trusts the public's ability to discern authenticity [3]. Group 2: Antarctica Trip Details - The trip to Antarctica involves various ships and cabin options, with prices ranging from 50,000 to 300,000 yuan [4]. - Yu Minhong clarified that he and his colleague traveled on the "Xia Gu" ship, which is a modern icebreaker, and the cost for their trip was between 200,000 to 250,000 yuan, contrary to the reported 1.48 million yuan [4]. - The "Xia Gu" ship is noted for its advanced capabilities and is designed for polar exploration, with a capacity of 245 passengers [11]. Group 3: Company Communication and Public Perception - On November 16, New Oriental celebrated its 32nd anniversary, during which Yu Minhong released an internal letter reflecting on the company's journey and future aspirations [11]. - The internal letter did not resonate as expected with employees, leading to comments about the disconnect between the CEO's vacation and their work commitments [11]. - Following the controversy, Yu Minhong posted videos from his trip, indicating that he was discussing future educational initiatives related to nature for children [13].