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3 financial lessons from the unlikely success of Old Master Q (Lao Fu Zhi / 老夫子)

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From 1962 to the present, Old Master Q has become deeply embedded in Chinese culture. Whilst its roots are in Hong Kong, Chinese people in countries all over the world will probably at least recognise the character; even if they haven’t read a strip in years. Old Master Q has appeared in animated series, live-action movies, and merchandise ranging from clothes to toys. And yet, not many people realise how improbable the success was: Old Master Q’s creator, Alfonso Wong, faced serious political risks and a continuous 20+ year struggle, before Old Master Q finally secured its place in history. 

Wong’s financial rewards, whilst kept  hidden from the public, is also a source of much fascination: the relevance of Old Master Q to contemporary Chinese culture, as well as its impressive reach in Hong Kong and mainland China, seem greatly outsized compared to Wong’s lifestyle. This leaves some interesting lessons for single digit millionaires:

The most improbable beginnings for a cartoonist

Alfonso Wong was born in Tianjin, in 1925, and this was a tough time to be a child. This era in China would be dominated by the Chinese Civil War, which would break out when Wong was two years old.

 At the time, the conflict between the Kuomintang and the Communist party destroyed infrastructure, saw school closures, and opportunities were limited. Besides the internal problems in China, the global economy was soon to be in tatters: the world had only just recovered from the first World War; but the Great Depression in the late ‘20s would undo much of the recovery. And later on, in 1939, WWII would begin. 

The 1920’s, through to WWII and then the Korean and Vietnam War (both of which involved China indirectly) must have seemed like a long, unending series of calamities to the Chinese at the time. But it was the environment that shaped the experiences of Alfonso Wong. 

Wong was a very private individual for much of his life, and never shared much regarding his politics. In many ways that’s expected, as someone growing up in those decades knows just how dangerous discussing politics can be. 

But as an artist, Wong’s political and social commentary can be seen in his work. Long-time readers of Old Master Q, for instance, will notice that many of the comic strips involve the character’s attempts to improve his social standing. Many of the comedic situations involve desperate attempts to find money, improve social status, or address being belittled by richer and more influential people. This reflected on the sense of limited opportunity, which was the specter haunting China even after the end of its civil war. 

The confusion, and the opportunities, of a cosmopolitan background

Tianjin by the 1920’s and ‘30s was a major port city, and an international trade hub – similar in many ways to Singapore. And like Singapore, its residents witnessed a huge clash and co-mingling of different ideas: 

Tianjin was a treaty port (i.e., it was more open to foreign trade), and saw significant British, French, and Japanese influence. On the upside, this brought modern infrastructure, business, and cultural exchanges, exposing Wong to a wider range of influences. 

Wong himself was raised in a Catholic family, at the time an “outsider” religion in mainland China. He would have been intensely aware of how different this made him from more traditionalist peers; and some of this cultural estrangement can be seen in Old Master Q. In interviews, Wong had on occasion highlighted the outdated clothes and mannerisms of Old Master Q as being deliberate:

Old Master often struggles to adapt to Western ideas and innovation. He gets into altercations with foreigners due to language issues, and struggles to handle technology like television or radio. There are also quite a few comic strips that involve Old Master’s interactions with Western priests.

The subsequent move to Hong Kong, due to the Civil War

Alfonso Wong was a child of the arts from an early age, and pursued fine arts. But the resolution of the Civil War, which was a communist victory, would have spelled the end of his career. 

First, Mao’s Marxist-Leninist ideology identified religion as the “opium of the masses,” a tool used by Imperialist Western powers to indirectly enslave the populace. This meant there was no future in the newly-minted  PRC, for a Catholic like Wong. 

Second, the PRC had the same attitude toward art as their counterparts in the USSR: all art had to serve revolutionary ideals. Paintings, writing, music, etc. were only acceptable if they drove “revolutionary ideals.” The concept of art-for-art’s sake, or art that celebrated different points of view, was regarded as decadent capitalist propaganda. 

As such, by the time the 1950’s rolled around, Wong and his family had moved to Hong Kong – at the time the last bastion for Chinese who wanted to live outside the PRC’s grasp. 

The struggling artist phase

Old Master Q began as a side project for Wong, who found a job working as an illustrator. Like many artists, he had to balance his passion for creating comics with more stable, paying jobs. One of these came from illustrating Bibles, which Wong did early in his career after moving to Hong Kong.  His experience in illustrating religious materials contributed to his development as artist and storyteller, influencing his later work. 

Besides this however, Wong also drew for a number of newspapers and magazines; this inevitably kept him in the loop on politics and cultural changes. This carried over to Old Master Q, where Wong (subtly) embedded political and cultural themes. It was this level of depth – and willingness to reference sensitive topics – that drove Old Master Qi to success.

Readers began to notice their own anxieties and sentiments reflected in the comic – particularly Hong Kong residents. Old Master Q characters often deal with the stresses of city living, including crowded spaces, competition, and the quest for a better life, mirroring the experiences of many Hongkongers during periods of rapid growth.

Old Master Q rapidly went from an obscure comic strip, to practically being an icon of Hong Kong. This wasn’t without opposition though, as during the early years of the comics (1960’s and ‘70s). Wong’s humor often critiqued authority, societal norms, and government policies. This was particularly dangerous in the time of political change and instability in Hong Kong. Some readers would write in to claim the comic was disrespectful or subversive to the state.

Some critics also felt that the comic undermined serious cultural and moral teachings. It was, in their eyes, lacking respect and decorum. In recent years however, it’s been speculated that this may have had more to do with Wong’s Catholic background, which some conservatives didn’t like.

By the 1980’s however, most of the voices had been quelled. Old Master Q had become almost a household name by then, and it began to spawn movies, an animated series, and various kinds of merchandise. This was also when the tide of public opinion turned: Alfonso Wong was no longer some renegade cartoonist – he was an exemplar of the talent that Hong Kong could produce, free of the suffocating grip of China.

In 1994, Wong moved again, this time to the San Francisco Bay area in California

It’s likely that the move was in anticipation of Hong Kong’s reabsorption into China, which was upcoming in 1997. But the situation seemed to spur the success of Old Master Q even further: even with Wong’s move, many Hong Kong residents saw Old Master Q as a product of their unique culture, blending Eastern and Western influences. 

Wong didn’t stop drawing. From afar, the comic’s humor helped people to engage with the new realities of life in Hong Kong. It continued to explore issues like class struggles, urbanization, political dynamics, and now…the sensitive relationship between Hong Kong and China. 

For a time, there were worries that – like other media – Old Master Q could experience censorship or outright banning. Fortunately, it seems China isn’t immune to the charm of Wong’s work either. By then Old Master Q comics had been read by Chinese communities in Southeast Asia, the US, Canada, etc. Quite possibly, the PRC felt that Old Master Q could be seen as a product of overall Chinese culture. 

Ironic, given that Wong seems to have deliberately moved out of their reach twice.  By this point in the ‘90s though, Old Master Q had seen adaptations into live movies and animated series. It had also gone into merchandising, and by the ‘00s, toy companies were often knocking on the door (there’s even a Funko Pop Old Master Q today).

Wong seemed unwilling to prioritise licensing over his work however. He continued to draw until his retirement in 2007. Alfonso Wong passed away on 12th September 2021, his son Wong Chiu-huang took over the comic, and has since added new stories to the series. 

Three financial lessons from Alfonso Wong’s life

  • The risks you need to take go beyond financial ones
  • Focus is good, but it also has a cost
  • Being the odd one out isn’t always a drawback

1. The risks you need to take go beyond financial ones

For Wong to achieve his phenomenal success, his risks weren’t tied to simple finances. Wong had gotten popular, and likely earned enough to raise a family by the late 1970’s. Had he stopped pushing the limits then and there, he would probably have had a comfortable life, and Old Master Q would be an obscure footnote.

Instead, Wong continued to take aggressive risks, which went beyond money. He braved the criticism of his public, and had no issues ridiculing their bad habits. He would lampoon Chinese authority (usually in the form of a policeman), Western snobbishness, country bumpkin behaviour, and pretentious yuppies alike. He stepped on many toes; and had he miscalculated, the circumstances could have been much more dire than losing money.

For single digit millionaires who have seen their earning plateau, this is both a lesson and a warning. It’s a description of how far you need to go, and it’s way beyond five per cent of high-risk assets in your portfolio.

2. Focus is good, but it also has a cost

While Wong was content to license out Old Master Q, he wasn’t as aggressive about it as many other IPs. He seems to have had a very light touch, allowing use of the license without excessive charges – and also without pushy development plans to expand it further.

This is something of a double-edged sword. On the one hand, focusing on his core competency (drawing the comic) ensured his work’s quality. It didn’t dilute his time or his brand. On the other hand, it’s generally acknowledged that – given how wide Old Master Q’s reach is – Wong was probably only making a fraction of what he could have. 

As the family is quite private about their earnings, it’s likely we’ll never know how much more Wong could have been making. But it’s just as likely he was happy doing what he loved, and felt he had enough. 

The same applies to your career or business: at some point, you need to decide if you’re a dedicated artist / craftsman, or more of a negotiator. There are advantages to both.

3. Being the odd one out isn’t always a drawback

Wong’s background made him quite different from his peers; but rather than being a drawback, it’s arguably what made him a success. If you find yourself in an industry, culture, or even a country that’s foreign to you, consider your two options:

You can convince yourself to try and blend in, not rock the boat, and be a mediocre success. Or, you can emphasise your difference by putting forward your different views; even at the cost of being laughed at or criticised. Doing so, however, turns your difference into a strength instead of a liability.

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