What Feng Jianxiong said to Liu Yan was strictly verified to ensure that the evidence link is detailed and sufficient, and every example is flawless.

However, Liu Yan didn't know that in order to enter from this perspective, he was completely scared by other potential "investors who don't understand the industry outside the circle", and Feng Jianxiong did much homework off the court.

In fact, Feng Jianxiong had really put a lot of energy into finding these examples before he could barely collect them.

And to be honest, at this moment, in the high-tech industry investment environment at the end of 2006, if you want to choose another investment consultant on the earth, you will not be able to deter entrepreneurs from Feng Jianxiong's perspective, or it is impossible to think of it.

The reason is no different, because today's investors and entrepreneurs are still relatively simple. There are very few people in the circle who have heard of coal bosses in the circle for losing money.

No one would have thought that in just seven years, such coal bosses will become popular.

After all, it is because of the world before Feng Jianxiong was reborn. Around 2013, an entrepreneur who made a name for himself used a heart-wrenching and heart-wrenching damage to create a unicorn, and also refreshed the perception of all non-professional investors in China about the lower limit of entrepreneurs.

The entrepreneur was named Cheng Wei. As a good dog for Brother Ma, he founded a company called Didi Taxi.

If Zhou Hongyi invented the Internet free economy, then Cheng Wei invented the Internet back-paying economy.

It is not enough to allow users to attract false traffic for free, and they also have to pay more and make money. In the most intense months of the subsidy war that year, if a taxi-hailing person installed two apps on his mobile phone and cooperated with the taxi driver to brush orders, he could definitely achieve "not only does it cost money to take a taxi on a short distance, but he can also make 5 yuan after taking a car."

With such tricks, the scale of "registered users" will obviously increase by dozens or even hundreds of times in an explosive manner - because many pseudo-needs who don't make you a dollar will take advantage of it at this time with the mentality of "working" and then naturally add icing on the cake to the answer to the capital market story.

After Cheng Wei and others appeared, coal bosses bought their hands and feet to buy their lives for entrepreneurs, and they became the mainstream and what Feng Jianxiong bluffed for Liu Yan today.

Because before that, the company lost money, and at least the cost was spent on normal operations.

After the remittance economy emerges, the cost may be 100% for nothing. At this time, if the company entrepreneur tells the coal boss that he has lost, who knows if it is a real operating loss? What if the entrepreneur himself makes the data review standard a bit loophole, then shoots 1 million zombie fans to the company to receive the subsidy, and then loses the company?

If they don't kill such entrepreneurs and don't let them get their lives intimidated, then they can go bankrupt the next day to buy zombie fans and get subsidies from affiliated companies. Then the entire industry will be like this, and coal bosses will never come in and get a share of the pie when the capital is hot.

So, in fact, entrepreneurs in China were later killed because they borrowed mining money and lost money. To put it bluntly, Cheng Wei and others have to take the blame.

When a company's business can win the capital market valuation by not making money but giving money, the degree of collapse of the world's hearts is very terrible.

Feng Jianxiong was a person who returned from the Dark Age fourteen years later. His understanding of the lower limit of human nature was naturally ten thousand times that of Liu Yan.

To put it bluntly, even if the earthlings in 2006 are treacherous in the investment field, they are considered one - in Feng Jianxiong's eyes, they are always "upright boys". They need to be trained by Feng Jianxiong, the old man who is a jealous man.

It would be a ghost to use the insidiousness of more than ten years to intimidate people today.

...

After making preparations and completely killing Liu Yan's thoughts, Feng Jianxiong's big network finally opened:

"If you want a more reasonable investor? This is very difficult. Nowadays, Mr. Liu, you know the big situation in the video industry. It is difficult to find investors, but it is easy to find them and are willing to enter the market."

Liu Yan had completely surrendered, and he just asked for advice: "Mr. Feng, why don't you think about it anymore? Give us brothers a hand. We all know your ability. If you survive, you will not forget to bear your love in the future."

After Feng Jianxiong had enough of his attitude, he reluctantly said: "Then let me tell you the truth. He knows it well and dares to get money at this critical moment. He will not buy things after you lose it. At the same time, how smart are investors who meet these conditions? You also want to open a price of 'The team's valuation is 30 million'. Tsk tsk, no one else can watch it."

Liu Yan hurriedly explained: "How much do you think is appropriate? We are not unacceptable to the lower valuation, but the key is that we are afraid that the amount of financing will be reduced and we cannot raise a large amount of funds - generally, most companies in the A-round A will only sell 20% of their equity, with a valuation of 30 million yuan, which will deduct the remaining 80%, and then they will only raise 7.5 million yuan. If 75% is deducted and foreign investors can hold 25% of their shares, then they will only be 10 million yuan in cash.

This amount of money is really not enough in the video industry. Tudou.com will probably burn more than 100 million next year, and 200 million years afterwards. Youku may have more than 10 million. If 10 million yuan is needed, even if other parts tighten the belt and reduce the cost, it will maintain a 5% to 10% traffic of Tudou.com at most. Otherwise, it will only reduce the user experience and allow users to accept more lag when watching videos."

Liu Yan obviously calculated the detailed account and said that the data was very clear.

"It would be great if people who like 2D and other illegal contents that the General Administration explicitly prohibits are able to have a 10% scale of the general user group like Youku! Besides, as long as some resources are only exclusive to you, even if the network is a little bit worse and stuck, as long as there is no place to watch it elsewhere, the audience can tolerate it!"

Feng Jianxiong thought in his heart, of course, he did not say these words.

According to Feng Jianxiong's estimate, if you want to build a Niconico, or a parallel space-time B station, it would be enough to burn 10 million in the first year. After all, the website was not famous in the first year, and it would be enough to get the hardware capacity required for 2 million users.

Feng Jianxiong would be happy if he could burn more than 10 million, because that means that the number of viewers has exceeded 2 million, and the corresponding sticky registered members is estimated to be able to raise 500,000, which is a good thing. (Youku had tens of millions of viewers at the same time)

The second year, if the growth is fast, 20 million may not be enough, but it is not far from that. Feng Jianxiong probably can take out these investments from his spare money with his ability to make money.

In the future, if he makes his own characteristics, let people in the investment world understand his business model, and then introduces external investors after the valuation soars dozens of times, and sells his own shares to cash out a large amount, it is not unacceptable.

Feng Jianxiong finally hopes to get a public opinion voice through Niconico. As for the specific shareholding ratio on this website, Feng Jianxiong actually doesn't care—

As long as all the public opinion orientations of this website can be decided by Feng Jianxiong. If he wants cents, he can only cents. If he wants five meters, he can only cover the sky with just five meters. So, what does it matter whether he holds 30% or 40% of the stock?

Anyway, Niconico cannot make profits financially and will not pay dividends. The valuation is just a capital story.

...

Feng Jianxiong tactfully analyzed the possibility of "differentiated competition between narrow and heavy sagging" with Liu Yan, but he only made the words explicit and persuaded Liu Yan to do illegal work.

However, at least it made Liu Yan accept the setting that "as long as you don't stand up with Youku and do your own characteristics well, 10 million yuan will definitely be enough to burn in a year."

With this foundation, Feng Jianxiong's self-recommendation came naturally: "Mr. Liu, don't be impatient. Since you are worried that the total financing amount is not in place, I can give you some peace of mind: No matter how much the valuation is reduced, I promise to bring you 10 million in cash. On this basis, let's talk about it further, how?"

Liu Yan has already done a lot of work by Feng Jianxiong, so he agreed: "Okay, at worst, we can just sell more proportions. If it really doesn't work, just take some points to work for others..."

Then there was a short battle between two and five.

First, Liu Yan's psychological price was cut from 30 million to 20 million per knife, and then he cut his blunt knife into pieces to 18 million, 15 million...

This price is equivalent to the "corpse collection organ price" assessed by my sister Feng Yiji during her asset evaluation a while ago.

What Liu Yan talked about today was to discount his original company and also included fixed investments other than those in the original company, so it was actually more preferential.

Feng Jianxiong saw that it was almost done, and Tuqiongjiu took out his last move: "I think this is the case, Mr. Liu. I will help you invest, and that will take time. Why don't you give me a commission? Let's change the way of cooperation, and you can ask me a little more in terms of valuation."

Liu Yan was stunned and couldn't understand Feng Jianxiong Qifeng's sudden statement: "What does it mean?"

Feng Jianxiong did not answer immediately, but lit two cigars to give the other party a reaction period to empty his brain and judge the situation, and then he slowly said:

"I should be confident that I can find an investor who is willing to accept the valuation of your existing team of 15 million and invest 10 million. If you ask me to get a 5% commission and directly convert it into equity, then I can help you advance the investment - that is, I can invest 10 million for you first, and then I will slowly find the next one. Of course, if I can talk about a better valuation based on my ability, the difference will be my, and I will buy it and leave it."

Liu Yan was shocked and immediately asked: "Actually, do you think our team can sell a valuation that is more expensive than 15 million? Are you trying to make a difference as an intermediary?!"

No one wants to be earned by an intermediary.

Give the agency commission, that's what it should be.

But after the agent received the introduction fee, he personally went to buy low and sell high, which would be unauthentic.

If you can't react, just think about the mentality of those speculators when buying and selling houses.

So, even Liu Yan, who had already completely surrendered, became resistant again after thinking about it.

Unfortunately, Feng Jianxiong obviously expected it, and he said with a quick knife: "What do you mean that I want to make a difference as an intermediary? In the eyes of others, your team is worth 15 million. If I want to help you increase the valuation, it depends on your storytelling skills, is it possible?

I can’t do PPT for you again and make up stories? The PPT I made and the stories I made are all the commercial value I created! How can I ask the middlemen to make a difference? Will the middlemen directly create value? PPT is the primary productivity! Telling stories is the primary productivity! If you have the ability, you have the eloquence, you can invest yourself. Why do you come to me for your own?"
Chapter completed!