My Fintech Empire

Sharing economy, building a sharing economy platform, this platform is playing a game of "borrowing chickens and laying eggs", or borrowing other people's chickens to lay eggs.

For example, Jiuzhouxing, which is positioned in the field of online car-hailing, is a taxi company that does not own a car. Ukefang, which is positioned in the field of homestays, and Chuangkefang, which is positioned in the field of co-working, are both housing rental companies that do not own a house. .

Xu Jingren thought for a moment, and couldn't help saying: "The sharing economy was proposed more than 30 years ago, but it hasn't been developed yet. Can it be played now?"

Hearing this, Fang Hong asked back: "Was there the Internet more than 30 years ago?"

Fang Hong further added: "The sharing economy has already had enough driving force at the moment. The first one is that consumers feel that they have greater initiative and transparency. Now people often encounter four problems, namely volatility, uncertainty Certainty, complexity and ambiguity, the sharing economy enables consumers to exert self-control in the consumption process to a certain extent."

"Secondly, there is a crisis of trust in the world today, and it will become more and more serious. People from different age groups, especially young consumers, have less and less trust in current businesses and other large-scale organizations. For this reason, When they find that the seller resonates with them, they are relatively more credible, which makes this type of purchase more attractive.”

"Consumers and suppliers are relatively more benefited in the exchange process, consumers meet their needs through reasonable prices that meet their expectations, suppliers get extra income from idle items, there are enough attractions and driving forces on both sides .”

After a while, Fang Hong said again: "The characteristics of the sharing economy can be summed up in one sentence. With the help of the Internet as an information platform, the essence is the temporary transfer of the right to use idle resources, and its manifestations are repeated transactions and efficient use of goods. .”

Wang Ping looked at Fang Hong and said: "So, this kind of product service based on sharing and leasing is actually the transfer of the right to use specific items under the control of the same owner among different demanders. From this point of view, from Essentially, can I understand financial companies as an economic form based on the concept of sharing economy?"

Fang Hong nodded and smiled: "It can also be said that the banking industry is a kind of sharing economy. From the moment you deposit money in the bank, before you withdraw the money, the right to use and ownership of the money is It is separated, the bank takes your money to lend, and the demander borrows the money, and the interest paid by the bank is the reward for you.”

The essence of finance is to borrow money, which is the economic form of the sharing economy.

At this time, Sun Xin said: "Isn't this sharing economy just a rental economy? No matter how I look at it, I think it's just a different term."

Hearing this, Fang Hong shook his head and said, "No, the sharing economy and the rental economy are not the same thing."

Fang Hong paused to think about it for a moment, and then continued: "From the perspective of business model, the leasing economy is a B2C model, in which merchants directly provide services or transfer the right to use items to users. Business-like behavior, not to mention sharing; and the sharing economy must be a C2C model, and the spirit of sharing is only in line with the user-to-user.”

"From the perspective of the platform, the leasing economy cannot be a platform, because they all provide leasing business directly to consumers by a single merchant. The merchant itself is the owner of the item. There is no process and behavior of matching transactions. The merchant directly uses tools The traffic portal of the APP category rents out the right to use items and earns interest on rent or deposits; while the sharing economy is a platform that connects the two ends and provides matching and transaction services for both parties.”

Just when Fang Hong was talking about this, Xu Jingren added: "Understood, just as Uber connects private car owners and passengers, Airbnb connects individual landlords and travelers who need accommodation, and the platform is to make money. Service fees, intermediary fees, and advertising fee income from traffic.”

"You're right." Fang Hong glanced at Xu Jingren and nodded with a smile, and then added: "From the perspective of asset structure, the leasing economy is an asset-heavy model. The costs brought about by initial investment, mid-term operation, and later maintenance Both are very high, the profit is not large, and to maintain growth, we must continue to maintain the expansion of the scale of delivery, and the reduction in marginal costs is very limited."

"The sharing economy plays a role in matching transactions and does not own the ownership of goods and services, so it is an asset-light model. You see, whether it is Uber or Airbnb, because they do not own cars, houses, etc., Of course, there is no need to bear the post-maintenance costs, which are all borne by private car owners and landlords themselves. If we don’t consider the money-burning wars caused by competition, and only talk about the nature of this business, this model will be profitable with almost zero marginal cost.”

Sitting on the sofa with his hands on the back of his head, Wang Ping said: "As far as the model is concerned, it is indeed a huge profit. The banking industry is the answer. This industry will not have the money-burning war of the Internet industry, so let's see how much money the banks make now."

With Fang Hong's continuous deconstruction, Sun Xin and Xu Jingren's understanding of the economic model of the sharing economy is also rapidly deepening. To let them do this business, of course, they need to have sufficient understanding of it.

Fang Hong also said: "From the perspective of market trends, the rental economy has no network effect, and it is difficult to form a monopoly advantage. The market trend is divided into one side and multiple platforms coexist; and the sharing economy is in a leading position due to the existence of network effects. The platform’s scale returns will increase significantly, and eventually it will use its rich capital advantages to liquidate competitors, that is, to kill competitors through methods such as burning money and subsidies. Capital will play a leading role in it, and it is easy to form a winner-take-all situation. .”

After deconstructing the economic model of the sharing economy, Wang Ping and the others now understand its connotation, and have a basic understanding of how to do these three projects.

Fang Hong looked at the three of them and said: "After these three projects go online, they will each be independent and set up a subsidiary company, which will be controlled by the parent company Quantum Beat, and I will leave it to you to do it. Today you will withdraw from Weibo. Come take full charge of these three projects, each of you pick one, work on it quickly, and launch the platform in December at the latest."

Hearing this, Wang Ping and the others looked at each other in dismay. After looking at each other, Sun Xin immediately said, "Leave the business of Youkefang to me."

Yuan Jie said: "Then I will go to Kyushu."

The remaining maker, Wang Ping, was in charge, and the three of them quickly took over one of the businesses. Xu Jingren said at this time: "Boss, according to what you just said, it may be inevitable to face a money-burning war with competitors in the same industry in the future. Weibo is still burning money, and the WeChat project is about to go online, and there are three new gold-swallowing beast projects, and the several hundred million in the parent company's account can't stand it at all."

The current shareholding structure of the parent company Quantum Dance, Qunxing Capital already holds 76.84% of the shares of Quantum Dance, and Xu Jingren and his several founders now each hold 2.25% of the shares.

In short, if it refinances, it will really be 100% controlled by Qunxing Capital.

Hearing this, Fang Hong smiled and said: "The problems that can be solved by money are easy to solve. When the time comes, you can contact the shareholders of Weibo subsidiaries such as Zhongtai Capital and Pengrui Capital, and just borrow from them. I will also Let Qunxing Capital guarantee it, and they must all be queuing up to lend money to QuantumDance.”

Of course Qunxing Capital has a lot of money to lend to Quantum Beat, but Fang Hong is in finance, and one of the principles he pursues is to use other people's money for his own affairs, so try to use other people's money first and use his own. Money is a secondary option.

Quantum Jump relies on its own assets to borrow the huge funds needed for development, and there is no sufficient collateral. The bonds issued by the company will be rated as junk bonds by the financial market.

But Qunxing Capital's guarantee is completely different. It is directly reversed, and the risk exposure is instantly reduced. It has become a sweet pastry comparable to AAA debt, and financial institutions are naturally scrambling for it.

Now who doesn't know that Qunxing Capital is rich and is a "stupid man with a lot of money" owner? Regardless of whether you are stupid or not, there is a lot of money anyway, and there is a note acceptance guarantee from Qunxing Capital. It is not an exaggeration to say that this kind of business that is almost stable and does not lose money has nothing to do with it.

As soon as Xu Jingren heard what Fang Hong said, he no longer had financial worries. It was a good shade to lean against a big tree, and the only thing left to do was to develop the business.

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