Charles Chao knew his social media platform had potential. But the parent company of Weibo, often referred to as the Twitter of China, was getting slammed in the stock market. That's when Chao decided to go all in. This week, Bloomberg Technology's David Ramli meets the man who cobbled together much of his personal wealth, and took out a loan for a quarter of a billion dollars, to bet on his business' rise just as others were predicting its decline. The gamble paid off, and Chao today is on track to become one of China's newest billionaires.

Charles Chao knew his social media platform had potential. But the parent company of Weibo, often referred to as the Twitter of China, was getting slammed in the stock market. That's when Chao decided to go all in. This week, Bloomberg Technology's David Ramli meets the man who cobbled together much of his personal wealth, and took out a loan for a quarter of a billion dollars, to bet on his business' rise just as others were predicting its decline. The gamble paid off, and Chao today is on track to become one of China's newest billionaires.

Foundering is an award-winning, serialized podcast from the journalists at Bloomberg Technology. Each season, Foundering brings you inside a different high-stakes drama from the technology industry, where its companies are wielding unprecedented capital and power.

Foundering

How Chao Bet $500 Million on Himself—and Got Even Richer

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/e75dc9b5-5bc0-457b-8e92-ae2b001db5c1/transcript

With Nima Momeni convicted of second degree murder, the media storm around Bob Lee faded. Reporter Shawn Wen tries to make sense of the widespread fascination with Lee’s death. She looks to the period before his death, when San Francisco was gripped by a bitter political fight over street crime, and to the years afterwards, when it emerged from the doom loop and into the AI boom. 

With Nima Momeni convicted of second degree murder, the media storm around Bob Lee faded. Reporter Shawn Wen tries to make sense of the widespread fascination with Lee&rsquo;s death. She looks to the period before his death, when San Francisco was gripped by a bitter political fight over street crime, and to the years afterwards, when it emerged from the doom loop and into the AI boom.&nbsp;

Bob Lee Part 5: Tech vs. San Francisco

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/3ca28120-a0ac-4c20-b542-b442015830cf/transcript

Nima Momeni's trial for murdering Bob Lee began in October 2024. Lee's killing, no longer a stand-in for random street crime, no longer fit neatly into the political zeitgeist. Instead, the tabloids latched onto the story for its salacious mix of drugs, violence and sex. Reporter Shawn Wen brings listeners inside the made-for-TV murder trial, which also served as a referendum on San Francisco. 

Nima Momeni's trial for murdering Bob Lee began in October 2024. Lee's killing, no longer a stand-in for random street crime, no longer fit neatly into the political zeitgeist. Instead, the tabloids latched onto the story for its salacious mix of drugs, violence and sex. Reporter Shawn Wen brings listeners inside the made-for-TV murder trial, which also served as a referendum on San Francisco.&nbsp;

Bob Lee Part 4: The Made-for-TV Murder Trial

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/655e0963-da89-41f8-ae76-b43b01388b86/transcript

Weeks after his death, Bob Lee’s toxicology report was released, indicating that he had alcohol, cocaine, and ketamine in his system. While his killing no longer fit neatly with the San Francisco Doom Loop narrative, a new story emerged that Lee traveled through an underground party scene known as “the Lifestyle.” Lee was twisted into a symbol for a second time, now representing the secret world of the wealthy tech elite. In conversation with Lee’s friends and family, reporter Shawn Wen tells the tale of the man they knew.

Weeks after his death, Bob Lee&rsquo;s toxicology report was released, indicating that he had alcohol, cocaine, and ketamine in his system. While his killing no longer fit neatly with the San Francisco Doom Loop narrative, a new story emerged that Lee traveled through an underground party scene known as &ldquo;the Lifestyle.&rdquo; Lee was twisted into a symbol for a second time, now representing the secret world of the wealthy tech elite. In conversation with Lee&rsquo;s friends and family, reporter Shawn Wen tells the tale of the man they knew.

Bob Lee Part 3: The Brilliant Programmer and a Lot of Wild Living

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/7d5fd4a0-22fa-47fb-a7f1-b43401371c20/transcript

How Chao Bet $500 Million on Himself—and Got Even Richer

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