LeEco Chairman admits the company is facing cash crunch

China-based LeEco's Chairman Jia Yueting has admitted his technology empire is running out of cash to sustain a headlong rush into businesses from electric cars to smartphones. “We blindly sped ahead," Jia said, adding the company got over-extended in its global strategy. Further, Jia pledged to slash his income to 15 cents and move LeEco towards more moderate growth.