Top of the big era

IDG and Jinshajiang really seemed to break with Ziweixing. If this sharp antagonism cannot be resolved, it can only be separated.

Doing venture capital is different from investing in stocks in the secondary market.

The reason why it is called venture capital is because the risk is extremely high, far exceeding that of buying stocks. Similarly, because of the high risk and early entry into the market, once successful, you will get a rate of return far exceeding that of stock investment. It is normal for tens of hundreds of times, and thousands of times is not uncommon.

But even so, pieces of venture capital institutions die every year.

It is really difficult to vote successfully.

If you invest in 100 projects and succeed in 10, you are considered an excellent investor.

In order to control risks and increase the success rate of projects, venture capital institutions have a different way of playing from stock investment - to strengthen the control of start-up companies.

After buying stocks, investors can only watch how the company develops. Unless the shareholding exceeds 10%, it has the right to propose a general meeting of shareholders, and can partially intervene in the company's development.

But doing venture capital is different.

Even if investors hold less than 1% of the shares, they can still enjoy special preferential treatment because they enter the market early. Investors help entrepreneurs to better complete business development through multiple measurements of corporate strategy, direction, performance and financial statements.

But the question is, what kind of help is good help?

Often a disservice.

Just like NetEase back then, after the financing was completed, investors helped NetEase poach a professional manager from other places to be the CEO, and sent Boss Ding to be the technical director. As a result, the two had different ideas and fierce conflicts occurred. Coupled with the bubble crisis, NetEase's stock price was almost cleared.

Later, Boss Ding bought a large number of NetEase stocks at a super low price, holding more than 40% of the shares, plus some investors and executives who supported him, the total holdings exceeded 50%, which can be regarded as a firm grasp Corporate power.

There is no need to be too harsh on this kind of thing.

Both founders and investors hope that the company will grow bigger and stronger and become more and more successful. It's just that there are differences in ideas, and some open and dark arrows are indispensable.

For Ziweixing, the situation is now very clear.

It is the relationship between fish and Daozu.

Investors are at their mercy.

First, the 10 billion headquarters park, and then the 10 billion data center... What is this for?

I want to check the account, but I won't let it.

I went to the court to apply for enforcement, but there was no response at all. I went to ask, but said to go back and wait for news.

Ruined!

There is no way.

Unless it is to completely give up its investor rights and let Ziweixing's management team do whatever it wants. But is this still called venture capital? Isn't this the same as buying stocks?

Without the supervision and persuasion of enterprise development, how can investment risks be controlled?

IDG is the oldest venture capital institution in China, and it is the hardest to tolerate such a thing. When investing in Penguin back then, it was also because of uncontrollable control that we withdrew halfway.

So after Ziweixing threw out the second 10 billion plan, IDG learned from the pain and made a decision and made a cut.

Even if Ziweixing really develops in the future, I won't play anymore!

The uncontrollability of the enterprise means destroying the entire set of investment rules established by IDG in the past ten years. It doesn't matter if you earn less money, Ziweixing is just a case. The rules cannot be broken because of this incident.

Then, Nie Caijun, the newly appointed vice president and senior financial director, received a written notice from IDG and Jinshajiang, requesting Ziweixing to repurchase their shares at the price of the A round.

One shot and two parts!

Stop playing!

When Nie Caijun saw this notice, he felt pleasantly surprised, as if he had been promoted.

Unexpectedly, it really did!

These two unstable time bombs are really about to quit!

The introduction of IDG and Jinshajiang was done by the predecessor Wang Haoyang, but he was slapped. If I can solve this internal hidden danger as soon as I take office, the prestige of my new official will be established.

However, the boss seems to be dissatisfied with the repurchase at the original price, and wants to get rid of it.

Nie Caijun groaned for a while, and was not in a hurry to reply. He wanted to report to the boss. With the current financial situation of Ziwei Star, it is not easy to repurchase even at a discount.

Unless IDG and Jinshajiang are allowed to sell their shares to other investment institutions.

But this will destroy Ziweixing's shareholder structure plan.

Not just any investment institution is eligible to be a shareholder of Ziwei Star. This kind of early investors can see Ziwei Star's board meeting materials, financial statements and many other internal documents, which will be confidential.

Let's see what Boss Zhou means.

At this time, Zhou Buqi is leading He Yang, Xu Liangjie, Zhang Yiming, Shi Jinglin and others, and a group of high-achieving students who have returned from overseas are accompanying the investigation team of the big leader to carry out research work.

What is the focus of the research work of the big leaders is not clearly stated.

But Zhou Buqi knew it well.

It must be related to the large amount of support from the state.

That's easy.

In front of the big leaders, we should try our best to show Ziweixing's high sentiments and big picture for the country and the people, its contribution to the simultaneous development of the Internet environment, and its determination to explore the core areas of science and technology.

Another very important display is Xiaonei.

When almost every leader comes to investigate, Ziweixing will arrange to go to the Xiaonei website to show the leaders that Ziweixing attaches great importance to college students and provides all-round online support.

The emperor is not short of hungry soldiers.

Should Xiaonei help college students in this way, should the country also help Ziweixing in the same way?

Just as Guo Pengfei was introducing a series of plans and products of Xiaonei in detail, Nie Caijun quietly came to Zhou Buqi's side, and then talked about investors.

Zhou Buqi raised his eyebrows, "Are you going to quit?"

Nie Caijun said, "Yes, I just received the letter. It's a formal written notice that I want us to buy back the shares."

Zhou Buqi shook his head, "It's impossible to buy back, we have no money."

Nie Caijun tentatively said, "How about I act immediately and contact some reliable investment institutions to take over the shares in their hands?"

"No need!" Zhou Buqi waved his hand, "I have my own opinion."

Nie Caijun hesitated slightly, "Then this matter..."

Zhou Buqi snorted, "It's still the same sentence, come as soon as you say it, and leave as soon as you say it, it's impossible! They must cut their flesh and kill them. Hmm... In this way, you will reveal to them the affairs of the two houses."

"The matter of the two houses...the research institute is settled?"

"Well, Shen Xiangyang has already verbally agreed to join Ziweixing, saying that we will invest several hundred million every year in cutting-edge technology research and development."

Nie Caijun said in surprise, "Good news!"

Zhou Buqi smiled, then squinted his eyes, and lowered his voice, "Tell investors another piece of gossip, just say that I want to buy a private jet. Well, the Gulfstream G550 is very good, and it will cost 50 million U.S. dollars."

Nie Caijun gasped, his face turned green, "Cheating?"

This is not good.

The previous two 10 billion plans are true. The matter of the two houses is also true. It would have a bad reputation for making up lies to scare away investors.

Zhou Buqi raised his eyebrows and said angrily, "What is cheating? I just want to buy a plane!"

Nie Caijun was stunned, "Are you really buying it?"

Zhou Buqi nodded, "There is such a plan... All right, you go and do what I say first."

Nie Caijun looked dull.

kinda silly.

I finally understand the pain of my predecessor Wang Haoyang.

Boss Zhou is not very easy to serve!

After arranging the work here, the big leader seemed to be more interested in him, and said with a smile: "If you are very busy with work, you don't have to stay with me."

Zhou Buqi said with a smile: "It's the matter of our Ziwei Star and the two institutes, and it has been properly arranged."

"The two chambers? The leaders are very curious, can you explain in detail?"

Zhou Buqi said: "Well, it's Ziweixing Engineering Institute and Ziweixing Research Institute."

"Is there any difference?"

"The Academy of Engineering has been established... to do some specific applied science and technology projects, as well as some high-end technology outsourcing. For example, the first project we took over is called distributed page loading."

"Very technical?"

"Yes, as far as the current situation is concerned, only Ziwei Star in the world has really mastered it. In this small aspect, we have achieved the lead in Silicon Valley. At the same time, we don't want to cherish ourselves. We want to lead the domestic Internet peers to develop together and are willing to share this knowledge. Technical achievements. We do this technology, and the total investment..."

With that said, Zhou Buqi glanced at Xu Liangjie.

Xu Liangjie quickly added: "The project fund is 30 million yuan, which is not a small financial pressure for us. However, we have successfully started the first high-end technology outsourcing business in China. At present, 6 domestic counterparts are willing to Using this world-leading technology, we got an order worth 22 million. This not only shared the pressure of our research and development investment, but also shared the excellent technical products with domestic counterparts. The concept of Ziweixing is not to eat alone, but to promote domestic counterparts Only by developing together can we catch up and catch up with Silicon Valley.”

The big leader looked back at his entourage, saw him nodding slightly, and knew that what they said was true, and couldn't help but praise: "With high technology, we must have the courage to share it with domestic counterparts. Only by concentrating our strength can we accomplish great things. But , While sharing technology, we must also do a good job of keeping it secret. The Internet environment is too open, so don’t let our country’s core technology be lost.”

Zhou Buqi smiled and said: "Yes, we have a technical committee that will evaluate every scientific and technological achievement independently developed. If there are some technical projects that are not sure, we will report to the relevant departments. Share with friends, yes The enemy wants to be selfish, this is a matter of position."

The big leader's cloudy eyes were full of admiration, and then he sighed, "It's not easy for our country to make some technological achievements, so we should cherish them all the more."

"Yes, we'll remember."

"What about the research institute?"

"We just recruited Shen Xiangyang, the global vice president of Microsoft and the dean of Microsoft Asia Research Institute, to establish our own Ziweixing Research Institute. Dean Shen is a world-class scientist in the fields of artificial intelligence and big data. It would be a pity to only do technological innovation for Americans. Ziweixing will invest 500 million yuan to establish Ziweixing Research Institute, and invest at least 200 million yuan every year to explore some cutting-edge technologies in the world."

Zhou Buqi talked eloquently, talking about the big picture.

Then, Xu Liangjie took over the conversation and talked about some specific development and applications of artificial intelligence, such as machine translation and intelligent driving. In particular, he spent 5 minutes talking about deep learning using computers and analysis and reasoning using big data. , to study some of the mainstream biological topics in the world, such as cancer, immortality and so on.

The big leaders are getting old.

Hearing about possible medical breakthroughs, he was much more energetic.

Such enterprises must be supported exceptionally!