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Born in the early years of the Cultural Revolution, Li was raised by his grandmother in Shanghai while his academic parents weathered the storm in the capital. He is proud to have his roots in the city that emerged as a center of glamormodern and western sophistication in the first decades of the 20th century. When Li moved to the United States to attend college in the 1980s, he became, according to his TED talk, a "Berkeley hippie.

(If that was the case, his counterculture days were few; he worked on Ross Perot's 1992 presidential campaign.) After nearly a decade in the United States, he returned to fax list China. In 1999, Li helped launch Chengwei Capital, a venture fund that manages around $2 billion and has invested in many famous companies in China.

The compared Li to Steve Bannon, and over the expensive lunch Li himself expressed admiration for Donald Trump's crusade against "global elites." Like Bannon, Li openly displays striking scholarship. He likes to alternate quotes from John Locke, Abraham Lincoln and Bhikhu Parekh in the debates, in a paradoxical way, to illustrate his anti-liberal thesis. He too has mastered the jargon of American liberalism, using terms like "enlargement," "pluralization," and "diversity" to promote authoritarianism. From Li's perspective, if you stand back a good distance and squint, "autocracy" can be seen as a form of "democracy." As he said in The Economist, believes that democracy should be measured "not by procedures, but by results." In a conversation in Guancha , Li tried to get Francis Fukuyama to subscribe to his idea that the Party's informal information gathering as an alternative to elections "was effective." Fukuyama remained impassive: "It depends on how you measure effectiveness."