"Hey, does Mr. Chu have any experience to teach later generations?" The reporter is not a good deal, and he always needs to make some use of his performance! "Or, you mentioned the experience just now. Are there any questions and experiences that entrepreneurs are prone to ignore but are very important? I am also curious, are there any thresholds for entrepreneurs?"

Chu Yuanxi: "Oh, I dare not take it as a teacher, but I like this question. I think for people who lack entrepreneurial experience, or every entrepreneur, you need to learn how to transition from a management team to an organized operation of the company, and at the same time, you do not forget your original intention and cannot lose the core of entrepreneurship.

Entrepreneurship must not be done without anything. It is not called entrepreneurship, but rich second generation experience life. Entrepreneurs must at least have some experience in team management. I think it is better to have a project manager or above. A project manager and a product manager are the best."

The reporter thought, isn’t your old man aphrodisiac? “What about you? I remember Mr. Zhao Jie and Mr. Zhao didn’t start a business with you at the beginning.”

Chu Yuanxi: "I am talking about young people. I am an old man with eight years of workplace experience. I can do the project manager's team."

The reporter thought you were so humble! It seems that outsiders can successfully reach the stage of listing, but in the eyes of the insider, you are not just as simple as having workplace experience, because Baren started out with the framework of an internet celebrity company. For journalists in the industry, this is particularly clear, because they have witnessed many times that Internet celebrity companies have tried to sprint for listing in various forms but cannot be achieved.

In fact, the reason why domestic Internet celebrity companies are having many difficulties in listing is mainly because they rely too much on "people".

This kind of dependence is not a dependence on entrepreneurs. As the soul of the company, it is normal for the founder to formulate corporate development plans and design the company's business model. It is also a business paradigm.

Of course, from the perspective of corporate governance, what the regulatory authorities pursue is that enterprises should minimize their dependence on entrepreneurs and urge listed companies to evolve more benign systems so that changes in entrepreneurs do not affect the stability and development of the enterprise. In other words, chaos and governance are indecisive.

But in reality, this is an ideal situation, and human factors are still very large, and in short, they will not be regarded as dangerous by the regulatory authorities.

The people the Internet celebrity companies rely on are not entrepreneurs, but natural persons, and are popular Internet celebrities, or they can be considered theoretically employees of the company. The life and death of a company depends on the hands of employees, which is potential business risks. For example, the risk of being hollowed out or the risk of not being self-disciplined. For normal companies, employees are not self-disciplined, and there is no impact on whether they are fired or prosecuted, the Internet celebrity companies just kneel down...

Just like Stephen Chow's film and television company could not pass the IPO hearing in Xiangjiang back then, the reason is that the key is that the company collapsed directly once there is a problem. And this kind of worry is very necessary. How many big internet celebrities did they self-destruct in 2018? If they only follow financial and other indicators, they will manage their own business into companies, and many of them will be enough to go to the listing threshold.

Therefore, the reporter's concern is actually focusing on why Chu Yuanxi can lead the company to break out of the structure of an Internet celebrity company and move forward very quickly and successfully to the development path of a normal enterprise. This is a discussion of the entire industry. You should know that Baren does not transform by quitting the Internet celebrity, nor does he fight after squeezing the Internet celebrity and has to transform, but instead transforms calmly at the peak of his career and quickly get rid of the label of an Internet celebrity.

Being able to get rid of the label of internet celebrities is already the second phenomenon-level company among all internet celebrity institutions in China, but it’s never finished the process of transferring to the world! It’s very clear from self-media to mobile games, from mobile games to film and television media, and entertainment peripherals, and has recently begun to enter the virtual reality equipment and application stores business.

In other words, Baren also has business lines for mobile Internet companies and high-tech companies, and has also made great progress overseas. Not to mention that this kind of trajectory is not understood outside the circle, industry insiders can't keep up with the pace, making it difficult for funds and securities companies to issue rating reports, and it is easy to write incorrectly.

This is also the reason why many media hope to interview Chu Yuanxi directly instead of Lu Yu.

However, big media must have the style of big media, and interview rules. Chu Yuanxi has answered this question, and the answer is mixed, so he cannot continue to ask. Therefore, he had to ask the next question: "What do you think about the listing of the GEM? I saw that Baren's listing guidance has completed the second phase, and the speed is very fast. It is rumored that you are like fish in the capital market, but you should not have any experience in the open market yet, right?"

The listing tutoring of Baren is actually earlier than submitting the IPO application. It started during Ye Ping's training for the secretary of the board. The time is quite rushing and there are many procedures, which involves Chu Yuanxi's considerable energy. Fortunately, it has basically made it clear that this very important time period recently. If you have to participate in the listing tutoring of Baren when you are busy with a lot of things, Chu Yuanxi can vomit completely.

"Although I have no experience, I have an opinion." He finally said something that made the reporter's eyes lit up, and he felt that the exposure was coming!

He continued: "Baren Group is indeed applying for the GEM, but I think the current GEM is fine in terms of type, but it should be divided into two sectors in terms of function. The first is the GEM with huge risks, allowing urgently needed funds to conduct business, and its business model is remarkable. It is expected to achieve leap growth in the future. However, companies with stable cash flow have not yet formed to conduct iPo. This is equivalent to the venture capital investment rather than financial investment by investors.

In fact, when the Guochao GEM was launched, the public opinion was also full of voices, believing that it would become a garbage board. I was still in college during that time, but I was quite impressed by it. In fact, it is reasonable to become a garbage board. Starting a business should not guarantee success, but as long as the risks and returns correspond, and the risks are controllable in terms of institutional risks, it will have great value to startups. In the end, some stocks will be delisted and the other part of garbage will become Jinke trash."

The reporter thought to myself that I thought you would criticize something, but I never expected that you would criticize the listing of entrepreneurial companies and the secondary market structure from the perspective of the system. Who is the criticizing? Maybe it can't be specifically for a certain person or unit! The criticism is so wide!

His interest suddenly increased: "What are the institutional risks you mean?"

Chu Yuanxi: "For example, this kind of GEM does not allow open market refinancing. It only allows one financing in the open market when it is ipo, and there is still financing demand for financing back to the PE investment model. This is also very good for funds and other institutions. After investing, it has been listed and there is a direct exit channel. This avoids the problem of startups using shareholders as cash machines."

"Your idea is really new..."

Chu Yuanxi: "No, this is back to the essence of the transaction. The underwriting system of iPo is definitely not applicable and needs to be changed. Now, as long as iPo passes the review, there are securities companies underwriting, and companies do not need to face investors in the secondary market. Anyway, there are people who provide guarantees when issuing it. Brokers don't have to worry about selling, new stocks are undefeated.

My idea is to inform investors of huge risks, so that the stock price expectations will become lower and there is a clear risk of bankruptcy. Then, the company not only needs to pass the review, but also needs to sell the stocks to complete the listing. If it is sold to investors or institutional investors, the market will be healthier.

In this way, enterprises rely on the capital market to pass the initial stage and can be considered to be incubated by the secondary market. Then they should better give back to the secondary market and allow stocks to get higher returns."

"Well, then you divide it into two sections, what about the second one?"

Chu Yuanxi: "The second is a company that has clearly resisted risks. Although it is still a startup company, maintaining the structure of the startup company and the composition and incentives of employee stocks, it has passed the start-up period and is able to be responsible to shareholders."

"For example, Baren Group?"

Speaking of this, the two felt a little embarrassed at the same time, because Chu Yuanxi had already worked very hard to get the money in Huaba people's account, but there are still many, which are much higher than the amount of funds raised by local IPO applications. In this case, it is really difficult to justify the money to go public. Moreover, in Chu Yuanxi's IPO applications, the funds raised are used for overseas strategies. Shouldn't they go overseas to go public?

But this kind of thing cannot be said randomly, because not only are there many well-known startups in the country that are willing to list in China, but they also seem hesitant. There are many people who are swaying between our big A-shares and overseas.

Relatively speaking, although Baren Group does not have a very sufficient technological content, its business is real in terms of corporate qualifications, its structure is huge, its impact is considerable, and its products are competitive. It is rare to have a grand vision and ambition, and it is already a rare good company. At least it is much better than a raw material pharmaceutical company that is rare in many years as a major fund manager in my big A-share market. The raw material of that pharmaceutical company is pig small intestine.

Therefore, there is not much resistance after the Ba people submitted the IPO, especially the purpose of raising funds is to explore overseas markets and carry out cultural exports, which is very consistent with the national strategy.

However, Chu Yuanxi did not shy away and said frankly: "Yes. I didn't say that because I had two money in the account. Even if I spent all the money, the Baren Group was not afraid.

I would like to use a concept to illustrate what financial freedom is. Financial freedom does not mean that the interest on bank deposits is greater than daily expenses within the foreseeable range. Financial freedom in my understanding refers to the ability to make money anytime and anywhere even if a person has no money.

This is the confidence to resist risks, it is the same for individuals and enterprises. Now Baren Group can make money anytime and anywhere, and it can also be a well-off future, and it will be more free and free."

The reporter was immediately excited and thought to himself that this was because you mentioned Xiaokang himself! "By Mr. Chu, what does Xiaokang mean recently? Why did the key data suddenly stop being disclosed to the outside world? We all look forward to it."

This is why it is agreed in advance not to ask "I'm convinced" because it may involve the data issue of Xiaokang, and Chu Yuanxi is very secretive about this recently.

But because the appointment was a few days ago, the situation has changed, and Xiaokang data finally couldn't bear the heat, so Chu Yuanxi didn't mind making it public. It would be beneficial to disclose it.

"Well, actually some of the rumors that have appeared in the market are quite reliable, and the calculations are good."

The reporter's mouth immediately couldn't close and even made a meaningless exclamation, asking: "Third, what rumor is the 300 million daily active users?"

"Oh, who knows that there are people who are going to count the sales of Xiaokang Cloud one by one..."

…………

After Chu Yuanxi personally admitted this data, the companies were ready to go even more excited, and there was even panic with their strength. 300 million daily active users were at the level of Kuaishou, and it didn’t seem to be a terrible monster. But how long did Kuaishou achieve 300 million daily active users? How long did it take to use it to go from 30 million to 300 million?

This competition is too exciting, and we must curb the well-off society! Otherwise, what kind of operation plan they have in the future, such as a double plan? Who can stand this?

But in fact, Xiaokang is having a headache for his user group. Chu Yuanxi lifted the data confidentiality before and after the interview. The industry and economic circles were ecstatic when they saw the huge data. Then they were shocked when they saw very extreme user behaviors. They thought that Mr. Chu had concealed data for more than ten days, but why did they change in the world?

The main reason is that the users who enter are very active, but the proportion and composition of this function are simply not used as a convenience store!

It doesn’t matter if you don’t use it as a convenience store, but you don’t need to have such a big map advertisement? There are so many online merchants who don’t go to see it? It’s okay if you don’t play in a strange city, why don’t you enter Kangkang? Are you all talking to your neighbors?

The most important thing is, why are you saving so many health coins? Do you think we will start withdrawal activities in the near future? You are spending!

Chu Yuanxi had no choice but to comfort the business group. Our users are distributed throughout the country, but the well-off society is not distributed throughout the country. After the franchise store is opened, it will be much better. Besides, we have been promoting that the purchasing power of health coins is strong. If others save it, they will save it. Anyway, we will not pay interest.

Similarly, because of this phenomenon, some people suggested that Chu Yuanxi carry out some financial activities on health coins, such as p2p loans. We don’t borrow RMB, but we can borrow health coins. There must be many users who need it, such as crowdfunding and venues. We can let them consume first and enjoy it first. Isn’t this a very good financial innovation? We can also make up for the shortcomings without interest.

Chu Yuanxi said that your brain is so smart, why can’t you see it? I said Xiaokang will never engage in Internet finance? You are also financial innovation, and you are so big! Xiaokang has just walked out of infancy, and even looks like he has gone out of infancy. In fact, it is still the temper of a baby, and he does not have that great ability to resist risks! The first thing to do is to deposit big data, and the second thing to do is to have strong ability to resist risks!

But none of these matters. In Chu Yuanxi's opinion, the most important thing is Kang Kang. A well-off society has always been the pinnacle of this set of business logic. As long as the social network is stable, everything else can be sacrificed.

In the outside world, Kang Kang seems to be very active when it suddenly increases by tens of millions, but compared with the 300 million new increase, the conversion rate is more than 20%. Such a production economy generally needs to be discontinued!

Moreover, the promotion of mobile payment looks good, but it is not ideal. At least compared with the scale of Xiaokang's 300 million new users, the user's mind has not undergone a fundamental change. The code and code scanning gun are not bad, but the user's payment habits cannot be changed overnight.

Don’t forget that since the Spring Festival status has recovered, shared arcades have begun to be promoted on a large scale.

Indeed, Xiaokang has been under financial pressure no matter how much he said this, so it would be a little problem if he really fought with Huang Tuan in the shared arcade. First, Chu Yuanxi doesn’t like loans, and second, there is uncertainty. Moreover, in the original world, he was deeply persecuted by tight cash flow, and sometimes he couldn’t be a human being. This time, he has plenty of conditions and does not want to put himself in a special limit.

But even so, shared arcades have contributed a high proportion of mobile payment orders to Xiaokang. This is why mobile payment data looks good, but it is really unreasonable to throw away this batch of data other than "necessary needs".

WeChat Pay relies on WeChat's huge size and usage habits. Alipay has greater advantages, including Huazhi and Baobei Youth. Chu Yuanxi looked at the data and discussed with the Industrial and Economics. It seems that Xiaokang also needs to launch some similar people-friendly projects to increase the activity of mobile payment to a higher level on the basis of win-win results.

Fortunately, Chu Yuanxi is from the Ancestral Money and understands the Ancestral Money situation very well. He does not ask you to do it immediately! Moreover, this main promotion with health coins as the core was proposed by him, with the attribute of quick success and instant benefits, and the purpose is very clear. The people who come in are first stable within the well-off society. As for where the stability is, the difficulty of future revitalization, etc., let it go first.

Therefore, if you don’t release this data now, you can actually consider not misleading your peers and causing misjudgment. The data is very explosive, especially the conversion rate, but a group of health coin robots are converted. After all, Xiaokang is not a pure online earning application. Online earning is just a powerful tool to attract users, not the fundamentals. Therefore, only this group of online earning robots start to use other functions, go shopping and socialize, and can be considered to be a complete conversion.

If it is just like this, you won’t have to worry about a well-off society from top to bottom. With a delicate structure of well-off society, this problem can be solved by leaving it to time.

However, I never expected that 724's revenge was late but not absent! In other words, the time for a well-off society has become less. This has caused some people in the company to reflect on the behavior of making enemies with 724 face to face. Did we use too much force to cause the temper of the old and famous stores to rise, so they focus on Internet technology and make extraordinary achievements in areas they were not good at?
Chapter completed!