In an era dominated by aggressive tech founders who chase billion-dollar valuations and maximal profits while curating loud public profiles, Liang Wenfeng stands out for his insistence on staying in the background.With only a couple of photographs of him circulating online, the founder of Chinese artificial intelligence start-up DeepSeek and quantitative hedge fund High-Flyer Quant has long been a reclusive figure.But last week, a leaked transcript of a closed-door meeting with potential investors in May offered an unprecedented look into Liang’s strategy: one rooted in a philosophy of corporate restraint, low-margin pricing and open-source models.On mainland Chinese social media, transcripts of the nearly four-hour discussion went viral, resonating deeply in a culture that traditionally values humility, discipline and long-term ambition over fast commercial cashouts.While DeepSeek did not officially confirm the authenticity of the document, the leaked remarks gave the industry its clearest glimpse yet into the mind driving one of China’s most intriguing AI contenders.Calculated, long-term sacrificeThroughout the meeting, Liang repeatedly emphasised the concept of “restraint” as a core company vision, a principle reflected in DeepSeek’s open-source model and affordable pricing.