Is LeEco really in trouble?

Billionaire CEO Yueting Jia told employees in a letter last week that the company's rapid growth was leading to stagnation and management problems at LeEco, and announced that he would invest $10 million into the company and cut his salary to 15 cents in order to keep LeEco steady as it expands into the United States and develops a self-driving car. But North American operations lead Brian Hui told the audience at TechCrunch China today that things aren't as dire as the letter made them seem. "If you read the letter, it's not about whether it's sustainable or not sustainable," Hui said of LeEco's growth. It's how you can spend your money wisely… You go through a very aggressive user base growth period before you enter a financially sustainable period. I think this is pretty normal, applying to any kind of startup." Although the letter led to rumors that LeEco would abandon the development of a self-driving vehicle, Hui said that work on the car was a "highest priority" and would ...