- Cai Haoyu, through exceptional leadership and innovation, has built miHoYo into a global gaming giant, with the company’s valuation reaching $22 billion in 2024.
- After stepping down as chairman, Cai Haoyu is focusing on cutting-edge technology research, continuing to drive miHoYo’s development in virtual reality and artificial intelligence.
OUR TAKE
Cai Haoyu’s shift in 2024 from daily operations to focusing on advanced technologies reflects his visionary leadership. By investing in AI, brain-computer interfaces, and virtual reality, he’s not just following trends but actively shaping the future. This strategic move reinforces his commitment to pushing boundaries, ensuring miHoYo remains a leader in both gaming and cutting-edge tech innovation.
–Jasmine Zhang, BTW reporter
Cai Haoyu, the co-founder and CEO of miHoYo, is a visionary force in the global gaming industry. Under his leadership, miHoYo has evolved from a small startup into a $22 billion global gaming giant, renowned for blockbuster titles like the Honkai series and Genshin Impact. Cai’s deep understanding of ACG (Anime, Comics, Games) culture, combined with his innovative spirit, has not only transformed miHoYo into a major player in the gaming world but also influenced the broader industry. His journey offers invaluable insights for aspiring entrepreneurs aiming to turn their passions into global success.
Early life and educational background
Developing an interest in technology early on
Cai Haoyu’s success was not accidental; it stemmed from the extraordinary talent and relentless effort he exhibited from a young age. Born into an ordinary family in China, he developed a strong interest in computers and video games early on. In the 1990s, when video games were still not widespread in China, Cai Haoyu, driven by his exploratory spirit, taught himself programming and developed simple games.
Academic foundations
Cai Haoyu attended Shanghai Jiao Tong University, where he majored in Computer Science, which laid the groundwork for his future success. During his time at university, he co-founded miHoYo with Liu Wei and Luo Yuhao, starting their entrepreneurial journey right from their dorm room. These experiences not only deepened his technical expertise but also sharpened his teamwork and leadership skills. Recognising the lack of high-quality domestic ACG games, Cai and his team decided to create games that would incorporate distinct Chinese elements while appealing to a global audience. His participation in programming competitions during university further enhanced his skills, preparing him for the challenges of entrepreneurship.
“We wanted to create a game where players could have their own adventures in a vast, open world, with freedom and choice at the core of the experience.”
Cai Haoyu, discussing the vision behind “Genshin Impact” in an interview with Forbes China
Founding miHoYo: From dorm room to global giant
The birth of a gaming powerhouse
The birth of miHoYo marked a significant turning point in China’s gaming industry. Cai Haoyu and his team initially set out to develop a product that could compete with top global gaming companies. However, miHoYo faced immense challenges and pressures in its early days. Their first game, “FlyMe2theMoon,” garnered some attention but did not achieve commercial success. However, this did not deter Cai Haoyu and his team, who continued to pour their energy into their work, eventually launching “Honkai Impact 3rd” in 2014. The game quickly achieved success in both domestic and international markets, laying a solid foundation for miHoYo’s future growth.
From “Honkai Impact 3rd” to “Genshin Impact”
The success of “Honkai Impact 3rd” marked miHoYo’s breakthrough in China’s gaming industry, establishing it as a key player. This success laid the groundwork for miHoYo’s global ambitions. The 2020 release of “Genshin Impact” propelled miHoYo onto the global stage, with the game becoming a worldwide sensation thanks to its stunning visuals, rich content, and cross-platform support.
Founding miHoYo and defying market trends
Cai Haoyu and his partners founded miHoYo in 2008 with the simple goal of creating games they would be proud of, rather than following market trends. Despite initial lukewarm reception, they remained committed to their original vision. The success of “Honkai Impact 3rd” and “Genshin Impact” not only solidified miHoYo’s prominence but also challenged the notion that Chinese gaming companies couldn’t succeed internationally.
Also read: $20 billion in 10 years: How did MiHoYo become one of China’s biggest gaming companies?
Pop quiz:
Which of the following is one of miHoYo’s signature games?
A) The Legend of Zelda
B) Honkai Impact 3rd
C) League of Legends
D) Human: Fall Flat
The correct answer is at the bottom of the article.
Leadership and vision: Cai Haoyu’s role in miHoYo’s success
Technological innovation and storytelling
Cai Haoyu is not only an outstanding technical expert but also an exceptional leader and strategist. Under his leadership, miHoYo has consistently adhered to principles of technological innovation and a player-centric approach. He pays particular attention to the depth of storytelling and character development in game creation. This dedication to detail has earned miHoYo’s games widespread acclaim globally.
Global market strategy
Cai Haoyu has also demonstrated visionary insight in company strategy. He has keenly observed global gaming market trends and actively pushed miHoYo’s expansion into international markets. Under his leadership, miHoYo has not only achieved success in developed markets like Japan and North America but also rapidly expanded its presence in emerging markets such as Southeast Asia and Europe. He believes that games are more than just a form of entertainment; they are a means of cultural expression. Therefore, he places particular emphasis on the depth of storytelling and character development in game development.
Building a culture of innovation
Cai Haoyu’s leadership is also reflected in his efforts to shape the company’s culture. He emphasises teamwork, encourages continuous innovation among employees, and provides a platform for them to express their creativity freely. This culture has enabled miHoYo to maintain its innovative edge in the competitive gaming industry, consistently releasing games that resonate with players. Cai Haoyu’s leadership style is deeply personal, embedding his dedication to technology and love for ACG culture into the company’s culture.
“Cai has always been driven by a desire to create something new and innovative. His leadership has been crucial in shaping miHoYo’s culture of creativity and excellence.”
Liu Wei, Co-founder and President of miHoYo
Cai Haoyu’s next frontier: Leading tech innovations beyond gaming
Cai Haoyu’s strategic shift in 2024
In 2024, Cai Haoyu made the bold decision to step back from the daily operations of miHoYo, choosing instead to concentrate on pioneering research and development. His focus is now on cutting-edge technologies, the creation of new projects, and bridging the gap between domestic and international R&D resources. This shift marks a significant change in Cai’s role, as he transitions from being deeply involved in the day-to-day running of the company to exploring new horizons in advanced technology.
miHoYo’s venture into high-tech industries
Under Cai Haoyu’s leadership, miHoYo has become an active player in the venture capital world, particularly in high-tech sectors. The company has invested in several cutting-edge projects, including AI, brain-computer interfaces, aerospace, and even artificial suns. Notably, in April 2023, miHoYo invested in Energy Singularity, a fusion energy company that completed a nearly 400 million RMB Pre-A round of financing. The company also participated in a funding round for Universal Gravity, an XR chip development company. These investments reflect Cai’s commitment to exploring and supporting technologies that could shape the future.
The rise of AIGC and virtual worlds
Despite his focus on emerging technologies, Cai Haoyu has never lost sight of his roots in gaming. He has been particularly interested in the intersection of gaming and advanced technologies. For instance, with the rise of ChatGPT and AI-generated content (AIGC), Cai has been exploring how these innovations can enhance gaming experiences. At the 2024 AIGC Shanghai Developer Conference, miHoYo showcased “Xingqiu,” a virtual digital human based on “Genshin Impact,” highlighting the potential of virtual worlds. Cai envisions a future where games deeply integrate with AI and virtual reality, creating immersive and personalised experiences that could redefine the gaming industry.
Also read: Text-to-speech brain implant restores speech for ALS patients
“Tech Otaku Saves the World”: Cai Haoyu’s tech vision
Cai Haoyu isn’t satisfied with miHoYo’s achievements in the gaming industry—his ambitions extend far beyond that. In recent years, under his leadership, miHoYo has actively invested in cutting-edge technologies such as AI, VR, and brain-computer interfaces. He firmly believes that these technologies will become the core driving forces of future society and will profoundly impact the way humans live.
Cai Haoyu sees games not just as a form of entertainment, but as a frontier for technological innovation. By integrating AI and VR into games, miHoYo can provide players with more immersive experiences while also advancing the application of these technologies in broader fields. Cai Haoyu is also driving miHoYo to venture into sectors like education and healthcare, exploring the potential of technology in these areas.
“Tech Otaku Saves the World” is Cai Haoyu’s motto. He believes that tech enthusiasts can not only create amazing game worlds but also change the real world through the power of technology. His tech vision is reflected not only in miHoYo’s gaming products but also in the company’s investments and research in cutting-edge technologies. Cai Haoyu hopes that through these efforts, he can drive technological progress and create a better future for humanity.
The correct answer is B, Honkai Impact 3rd.
