PhD Student Makes US$144,000 Selling Snacks and Used Books
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A PhD student has been criticized online for earning more than 1 million yuan (US$144,000) by selling snacks, used books, and other items during his four-year undergraduate degree study. This has sparked a public debate about whether students should run businesses.
The man, who is surnamed Wang, shared his story on social media platform Xiaohongshu earlier this month, revealing that he had made a significant amount of money while studying at Sichuan University in Chengdu, Sichuan province.
He also shared a property ownership document and other evidence of his wealth online, which caught the attention.
According to Wang, his income came from selling snacks, agricultural products, and second-hand books to students on his campus.
Additionally, he provided private tutoring services to fellow students. By the time he was in his third year at university, Wang had already started his first company.
After completing his undergraduate degree, he enrolled in another university in Chengdu to pursue his master’s and PhD degrees. The report states that he is now the owner of several companies that he has set up.
However, after being subject to criticism regarding his profits, Wang clarified on March 6 that he had made the money with several business partners. He also emphasized that setting up a business is risky and that he had to cancel the registration of some companies that did not perform well.
Wang acknowledged that starting a business is not for everyone and depends on an individual's personality and ability to bear risks. Nevertheless, he suggested that everyone, especially university students, should have a creative mindset.
According to him, the rewards from running his companies were cultivating entrepreneurship and a hard-working spirit. For example, in his second-hand book business, Wang had to collect books from waste bins before sorting them out, which was a time-consuming and laborious process.
Wang's motivation for starting a business while studying was his personal interest in entrepreneurship. He stated that life is short, and if he did not pursue his interests, he would regret it. His story has attracted tens of thousands of comments on Douyin, with some praising his entrepreneurial skills, while others speculated that he must have had a good relationship with the school's leaders.
Xiong Bingqi, director of the Beijing-based 21st Century Education Research Institute, wrote in the Beijing News warning that most university students should not follow Wang's path blindly.
He emphasized that each student should make their plan for university life and that blindly following in Wang's footsteps could lead to failure in both studies and business. Xiong advised students to explore their interests and goals during university life to achieve their objectives.
In conclusion, the story of the PhD student from southwestern China has sparked a public debate about whether students should run businesses. While Wang's entrepreneurial spirit and success are admirable, it is essential to remember that setting up a business is not for everyone, and it can be risky. Each student should assess their personality, ability to bear risks, and academic goals before deciding to start a business while studying.
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