Recently, Yu Minhong, Chairman of New Oriental Education & Technology (09901.HK), responded twice on social media to criticism over his all-staff letter posted during his Antarctic trip. He stated, "Even though some call me 'Old Deng,' I still have something to say," and emphasized that "bosses are also working hard."

This year, many elites have faced public backlash, with their reputations taking a hit. The "Old Deng" meme has spread widely, often targeting business leaders. Why has the perception of bosses deteriorated so sharply?

A key reason is the growing awareness of employee rights. Workers now prioritize tangible benefits over motivational rhetoric. Additionally, generational differences have widened the understanding gap. Many older leaders fail to grasp why today's youth dismiss traditional success narratives, while younger generations see "being at the right place at the right time" as the hidden factor behind their bosses' achievements.

While "Old Deng" may be unpopular, extreme backlash should also be avoided. Older generations often overlook the struggles of the young, leading to labels like "Old Deng." Conversely, younger people dismiss the perspectives of older entrepreneurs, which could be seen as a form of "Little Deng." Mutual understanding and listening are essential to bridge this divide.