501 Choices Matter(1/2)
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Although it was only a small merger worth US$8 million, Chen Yizhou was very cautious and did not skip any due diligence procedures.
And the action was very fast. Just two days after the merger and acquisition contract was signed, the law firm and accounting firm invited by Thousand Oaks Group settled in Youyoumi and worked overtime to complete due diligence.
Lin Fan didn't know if he had scared Chen Yizhou that day, causing him to be so aggressive.
Arriving downstairs from the office building where Youyoumi was, Lin Fan made a call to Rao Lei who was still cooperating with the due diligence upstairs.
After a while, Rao Lei came out of the elevator and immediately saw Lin Fan sitting on the sofa in the lobby on the first floor, and walked over with a smile.
"Let's go out for a walk."
Lin Fan stood up, tilted his head and signaled.
"Why are we leaving? We are so busy right now. I don't know if Chen Yizhou took the wrong medicine. All due diligence must be completed within ten days. Now everyone in the company is so busy that I can't leave.
"
Rao Lei complained, "In such a panic, Chen Yizhou is not afraid of missing something and buying a company that is heavily in debt."
When Lin Fan heard this, he couldn't help but laugh. This was all his fault.
Rao Lei said angrily: "Don't look at the joke. I'm very busy now. If you want to play, you can go alone."
"Now that the company is sold, what are you going to do next?"
Lin Fanxian glanced at Rao Lei and asked with a smile.
Rao Lei was silent for a long time, then sighed: "I haven't thought about it yet, let's take a long vacation for ourselves first! Travel around and relax."
"What happens after you relax?"
Lin Fan continued to ask.
"have no idea!"
Rao Lei really didn't know that his current state could be regarded as exhausted both physically and mentally.
I cashed out nearly RMB 10 million in cash and also held a handful of shares in Thousand Oaks Group, which seemed pretty good.
But in fact he was not satisfied. Who doesn’t have a dream of ringing the bell?
But now I can only ring the bell inside the temple.
“Do you still want to start a business again?”
Lin Fan clearly remembers that Rao Lei, who said he would no longer start a business, waited until next year to start a new company and founded a company called eseLearning (China Learning).
What is it for? An online one-to-one education website that specializes in teaching foreigners to learn Chinese.
It's a pity that I picked the wrong treasure again.
Although it later received millions of dollars in Series A investment from ZhenFund, its development has been tepid, and it is far from being listed on the market.
In a certain sense, he was as unlucky as Rao Lei in his previous life.
Lin Fan dares to conclude that if Rao Lei provides K12 online education, it will definitely be better than teaching foreigners to learn Chinese.
The market is too small, too niche.
But if it takes a few decades, when the whole world is speaking Chinese, it may bring some surprises to people, but I’m not sure.
It’s not that Rao Lei is incompetent. Entrepreneurial ability is the foundation, and luck also plays a large role.
"forget about it!"
Rao Lei shook his head, "I feel like I'm not that material. I'll buy a few apartments in the capital and spend the rest of my life collecting rent and living."
Perhaps because he finally released the pressure, Rao Lei, who has always been gentle and gentle, even started to use foul language.
Lin Fan's mouth twitched when he heard it. People who say such things usually get slapped in the face badly.
"Partner of Lin Capital China, do you want to be a partner?"
Lin Fan looked at Rao Lei with a smile, and said seductively like a devil: "Head the tens of billions of funds and be the entrepreneur behind the entrepreneurs."
"Partner of Lin Capital China!"
"In charge of a tens of billions of funds!"
“The entrepreneurs behind the entrepreneurs!”
…
Lin Fan's words passed through Rao Lei's mind like lightning, making him feel a sense of pride and ambition.
To be honest, he would not be happy to end his business so hastily, or to leave the mainstream attention of the Internet!
Although Lin Capital was established not long ago, due to Lin Fan's continuous ammunition support, it is not far behind even when compared with many established foreign venture capital institutions.
The only thing missing is the classic investment examples and foundation.
But is it still interesting to join after everything is built? Is there still a place for him?
"Mr. Lin, are you kidding me? I have never been a venture capital investor!"
Even though he wanted to agree in his heart, due to Rao Lei's character, he felt that it was better to say some things clearly first.
In case Lin Fan just had a fever, he would give him a hand out of friendship.
If you stupidly join in and make no contribution, it will really hurt your feelings and waste your time.
He has never done venture capital, so he is actually very confused as to whether he can do well in it.
"Hey, if you haven't done it before, you haven't done it before!"
Lin Fan waved his hand, with an easy-going look on his face, "Didn't I do it before? Isn't it still prosperous now?
Although there has not been a successful exit case, I have never rejected my talents."
Rao Lei listened with joy. Even though the other party was bragging, he didn't feel it was inappropriate because the other party had the confidence or talent in this area.
He has heard of and understands some of the companies invested by Lin Capital such as Tudou.com, Ganji.com, and Tesla. In his opinion, success is a high-probability event.
What's more, Lam Capital has just entered China, and the other party has only stepped down as CEO of Facebook for a few months. The future is still long and there are endless possibilities.
"Okay! Since Mr. Lin thinks so highly of me, I will join Lin Capital and experience the work and life of a venture capitalist."
Rao Lei paused, put away the smile on his face, and said seriously: "However, don't give me a partner position, give me an analyst position."
Lin Fan was about to speak, but Rao Lei raised his palm to stop him, "No need to persuade me! I have made up my mind!"
As a beginner in the industry, I have no experience and nothing to be proud of. To do things, I must maintain a humble mentality.
When I make some achievements and become familiar with the industry, you can give me a promotion!"
"no!"
Lin Fan found it a bit funny, "When you come into our company, you will be the VP, vice president. Where can I find an analyst position for you?"
Rao Lei was also stunned for a moment, "Here's the vice president? Don't fool me!"
Lin Fan had no choice but to explain where this set of tricks came from. Goldman Sachs and Morgan Stanley were the best among them, and they were used to trick them.
"Didn't you also say that? At present, Lin's Capital is still in its infancy, and the number of employees is not large. When it is standardized in the future, it is not necessary to re-establish ranks."
Lin Fan nodded, "Well, it will be improved in the future, mainly to provide transition for new employees who join the company, but there is no analyst position for you at the moment."
"Okay, then I will also become a "vice president" executive!"
As he spoke, Rao Lei himself laughed, "You are still a lot of financial fools. If you hand me a business card, people will look at it and say, oh, Vice President, sorry, this business will be easy to negotiate."
After I join your company, you have to have your business cards printed for me in a higher quality, the best ones are those with hot stamping."
Lin Fandan smiled, this kind of job-level routine has actually been played to a pulp. Larger companies will basically not fall into this trap and can only deceive loser entrepreneurs.
The main reason why it still exists is that it has changed from deceiving people outside to deceiving one's own people, and it provides some psychological comfort to those young people who are talented but can't get ahead in the company.
Promotions are quick in finance and investment companies. As long as your performance is acceptable, you are promoted every three years. Analyst, investment manager, vice president and other ranks are considered step-by-step.
Therefore, those vice presidents in their thirties, so-called financial talents, have actually become senior salespeople.
Of course, due to the high salaries and benefits in this industry, the quality of life of financial talents is still acceptable. In the eyes of the outside world, the influence of "vice presidents of financial companies" is naturally amplified.
After chatting for a few more words, Rao Lei went upstairs because he still wanted to help with the adjustment.
Lin Fan watched the other party enter the elevator, and did not look away until the elevator door closed.
He recruited Rao Lei not just to take care of him, but also to build up Lin Capital's presence in China as soon as possible.
Venture capital institutions do not have corresponding university majors, and most of the employees they recruit come from investment banks and PE funds.
This industry requires a lot of experience. Generally, they don’t like to recruit fresh graduates. The cost of training is too high. If you like to recruit, you can start working immediately.
In addition, entrepreneurs who have succeeded in starting a business are an important part of the backbone of venture capital institutions.
What is a small entrepreneurial success? It generally refers to the kind of company that failed to go public and was acquired.
This kind of person has not succeeded in starting a business, but still has a desire for money and success, and wants to work harder.
At the same time, even if the company is not successfully listed, the company can be acquired, which also shows that the founder has certain abilities and relevant industry experience.
These are people that venture capital institutions like very much.
To be continued...