What was memorable in that interview was his response to my question on advice he could give to new entrepreneurs. This is what he said:
“If you’re just starting in business, get out of your comfort zone. Being an entrepreneur is really hard work in the beginning. Keep your focus. But more than anything, you must take care to earn the respect of your colleagues and suppliers. You can only do this by having word of honor in any transaction. Success doesn’t come overnight, but by being decent and honest in all your dealings, it will help you in the long run. By word of mouth, people will know you. ’Pag sinabi mong magbabayad ka ng utang, for example, magbayad ka. It is sad that nowadays, this trait, of being trustworthy or having word of honor, has slowly disappeared.(See Look to the Sky, BusinessMirror, May 7, 2008)
I find it really hysterical for him to say something like that and completely do the opposite...e.g. miss payment again on his carrier's insurance premium, after he himself committed to pay Prudential Guarantee by a certain deadline. Tsk, tsk, tsk.
I dunno about you, but I am certainly disillusioned and puzzled by Mr. Yao's behavior.