In the field of life services, it is a science to make customers pay for satisfaction, and users need to provide different experiences at different stages after entering the pit.

New users have to give enough discounts and burn money to subsidize, which everyone knows and basically does. So what about the users who have passed the novice period? How can users be kept in the business cycle instead of staying in the list of users in the database? This problem has knocked down the vast majority of people, and only mobile Internet players who are not troubled by this problem are qualified to reach the top.

The answer given by some people is to monopolize this track, use big data to build an invisible but unfathomable moat, and then turn all the branches on both sides of the track into swamps, so that latecomers can't get in with money, and there is no data to support when they come in. Users who are getting through the novice period in this way will find that they have nowhere to go.

The answer given by some people is that Lao Tzu continues to subsidize users, never leaves the novice period, and then digs deep into the market value, and can make money in the state of subsidizing users, while latecomers do not have the ability to dig deeply.

The answer given by someone is to use MLM to expand, and use the dividends of new users to cash out the satisfaction of old users, this model will collapse one day sooner or later, just like a perpetual motion machine cannot exist, so that Chu Yuanxi does not even have the will to study it.

The answer that Chu Yuanxi intends to tell the market is that the different stages of a user can be satisfied in different ways.

He divided the users into three stages, the first stage is satisfied through subsidies, the third stage is met through socialization, and the second stage is before entering the social network, after losing the subsidy, the users at this stage have accumulated a certain amount of data in the first stage, and have also experienced a certain degree of currency cycle, which is the time period to be satisfied with online content and currency play.

Data, relying on content, generates economic value, this is the answer given by Chu Yuanxi, social is the sharp blade of this answer, and blockchain is the shield held by this answer. This requires that the content can fit the data, the value of the data can be mined, and the content can be linked to the currency, which in turn points to social networking and becomes a hub for opening up the whole set of gameplay.

This answer, even after Chu Yuanxi's castration, still almost buried Elizabeth, for her is a new concept of a ship, and it is an incomprehensible concept. It's like a high school student entering college, studying physics and suddenly coming into contact with the Corionic force, studying mathematics and suddenly coming into contact with the Fourier transform, having no concept at all, and looking at formulas to do it, I don't know what the use is.

The infuriating thing is that Chu Yuanxi resolutely does not give examples, and all the concepts she comes up with are for her to experience for herself. In Chu Yuanxi's words, of course, examples can be exemplified, but it is not yet time, and after the well-off unfolds, he will naturally see the examples.

If Elizabeth has read Mr. Jin Yong's famous book "The Condor Heroes", she will know that when Guo Jing sent Yang Guo to Zhongnan Mountain for further study, Zhao Zhijing adopted the teaching method - the specific moves are not taught, only the song tricks are taught.

This answer is also something that many people want to know, such as SoftBank, which is very curious.

On May 5, the first day after the holiday, Xue Zhengwei, the manager of SoftBank Greater China, came to Xiaokang under the recommendation of Yuan Yu.

The two sides sat down in the tea room, and Xue Zhengwei got straight to the point: "I heard Yuan said that Mr. Chu seems to have some doubts about Softbank's investment, is this true? Can I know the reason? The help that Softbank's investment can bring to the enterprise is well known." ”

Chu Yuanxi frowned slightly, but thinking that Zheng De was still in a state of small arms and legs at this moment, it was impossible to offend a behemoth like Softbank for no reason, so it was natural for Yuan Yuan to reveal his attitude to others, but he was not sophisticated enough.

He nodded quickly: "Before that, can Mr. Xue say why he is interested in Xiaokang?"

"Hahaha, that's a coincidence. Xue Zhengwei said boldly: "I chatted with Li Jingfei, he said that Mr. Chu is not only young and promising, but also has a set of secret theories, which can make the user ecological construction under the new retail situation not only rely on discount promotions through the creation of demand and monetary circulation?"

I'm mainly interested in your mindset, because you have a particularly right one, you said that the Internet mindset is about retention, and discounting is the opposite of retention, so I'm very curious about what your solution is. ”

Chu Yuan Xixin said that he deserved to be a person from Softbank, this is so clever that he doesn't know where to go than Li Jingfei. Li Jingfei's skill is to question, question and question, but he never knew that active thinking could produce intellectual results.

And this Xue Zhengwei and President Xue, just listened to Li Jingfei relay the 25% degree revealed in the roadshow, and found the key point along several questions.

After listening, he waited for a while before calmly nodding his head with a deep amplitude, "That's why I don't want to accept SoftBank's investment." SoftBank invested in Grabi and participated in every round of Grabi's investment. If I'm not mistaken, last month, in March, SoftBank invested 1.46 billion in Grabi's H round, and last month, in April, Mr. Sun said that he would provide unlimited support for Grabi's growth, right? Didi and Uber did not receive this level of support. ”

This time it was Xue Zhengwei's turn to frown, he knew what Chu Yuanxi was going to say next.

"Since you mentioned Li Jingfei, you should know that Li Jingfei is pulling Grabi into the Celestial Empire, and the model he intends to adopt, I will talk about it, to draw nourishment from the well-off, right?"

"It seems that everyone's information is open and transparent. Xue Zhengwei laughed awkwardly.

"It's good to be transparent. Chu Yuanxi was tepid, "If you are transparent, everyone will not have any misjudgments, I hope that each will do its own thing, and maybe they can help each other when the time comes, and there will be complementarity rather than confrontation in business." But if I accept SoftBank's investment, SoftBank ...... Well, let's put it this way, I hope that all the people who have invested in me will help me in the first three rounds not only financially, but only financially invested, and not exert any influence on my company, including the corporate culture. Is it possible for SoftBank to accept it?"

"Your request itself is very excessive, an investment with completely unequal rights and obligations is not a good investment, if you say financial investment, then pure financial investment is not impossible. ”

Xue Zhengwei raised his hands and made fierce gestures, like a conductor. And Chu Yuanxi is as steady as an old dog, like a patient audience. Waiting for him to put his hand down, Chu Yuanxi spoke: "Your words are reasonable, but since there are people who are willing to provide help other than finance, of course I will give them the share first." ”

"This group of licking dogs!" Xue Zhengwei cursed in his heart, but the smile on his face remained unchanged, and the lotus flower was still in his mouth: "Mr. Chu, having said that, but, it's not me bragging, Mr. Chu, these investment institutions that are willing to enter in the financial investment mode and provide additional support can compare with us? How can Fireflies compete with Haoyue? The resources they can provide are not the same as the resources we can provide." Who would accept such conditions with such a powerful investment institution as ours?"

Chu Yuan Xixin said that you are still dragged? He smiled slightly: "Then do you know that there is an investment institution called Digital Sky Technology Group, referred to as DST? Not only did he take the initiative to put forward this condition, but he also gave the voting rights to the founders with both hands. ”

"This--deserve-damn-lick-dog!" Xue Zhengwei scolded crazy in his heart, DST is simply the public enemy of the investment circle, which has damaged the entire investment and financing atmosphere, but no one can do anything about this fund from Mao Xiong's family.

Yuri, a genius investor, is the leader of this fund, and the local tyrant Usmanov is its financier, and the style is completely different from that of Wall Street investors. When Mark Zuckerberg accepted DST's investment, the whole Silicon Valley was dissing, saying that you actually accepted an investment from a Russian Yankee? But they didn't know that Xiaozha also refused, and the management said to Yuri: You are also worthy of investing in Facebook?

As a result, Yuri personally flew to Silicon Valley and knelt and licked, saying I don't want preferred shares, I don't want board seats, give you a valuation of 10 billion, and the voting rights are completely handed over to you. Xiaozha had never encountered such a good thing, so he changed his name to Dad on the spot.

Relying on this dog-licking investment, DST is more prosperous than SoftBank in the global investment field. Since opening the gap of Xiaozha, Yuri has quickly become a good friend of top entrepreneurs in Silicon Valley, investing in LinkedIn, Twitter, Airbnb, Soundbreaker, Snapchat and the originator of group buying websites in the United States, and also investing in Goudong and Didi in the Celestial Empire, and after a few years, he made tens of billions of dollars, which can make some people on Wall Street jealous to the point of separation.

But in the eyes of entrepreneurs, this is called having a B number in the heart. Yuri's famous quote is, "Do you need me to teach them how to socialize and how to do business?" What is the use of voting rights?

Then, a big event happened in Silicon Valley that confirmed Yuri's right with the bloody facts, that is, Kalanick, the founder of Uber, was expelled from the company he founded. Yuri didn't vote for Uber, otherwise Kalanick would have gotten the voting rights to DST, and this tragic scene would not have happened, especially since Uber had already secured the policy and the right of way for shared cars.

So at this time, Chu Yuanxi pulled out the banner of DST, and suddenly Xue Zhengwei had nothing to say!

In fact, it's not that there is nothing to say, because although DST is a licking dog, it is especially a "late investment"! People don't invest in the first three rounds at all, not even Uber, let alone you are well-off?

But it's not interesting to break this calf, drop the price!

In fact, neither side has made it clear, but when it comes to this part, it is equivalent to making it clear that Chu Yuanxi cannot accept SoftBank's "resource integration", and Xue Zhengwei's attention is resource integration, even if this round of integration cannot be made, what about the next round? As long as SoftBank opens the share gap, no one can resist it, especially the companies in the previous rounds of financing.

Series D and financing beyond Series D can actually be regarded as pre-IPO financing, which does not belong to the early stage, and the risk has been greatly reduced. If it does not decrease, it means that the invested company is not suitable for continuing financing at all, because the D round should already use the price-earnings ratio to measure the company.

Of course, there are also alphabet financing like Didi, and the so-called alphabet financing is that the 26 English letters are almost full, and they are not enough. But that's not to say that Didi is bad, it's just that Didi is not in a hurry to go public. This kind of enterprise is hungry for money, but there is no problem with financing, investors are willing to accompany them all the way, and the valuation is rising anyway, it doesn't matter.

The same is true of the well-off in the original world.

However, in the first few rounds of financing, because investment institutions have to bear a lot of risks, of course, the conditions must be met as much as possible, which is the proper meaning of the topic. There are DSTs who do not take power seriously, but there are few, and it is the norm for investment institutions to compete for power in order to protect their own interests. Of course, it is also the proper meaning of the question for investment institutions to use their own resources to help enterprises in other aspects.

It's just that Chu Yuanxi asked all the investment institutions that planned to invest in him a question: Is Xiaokang regarded as an "enterprise" or as a "resource"?

Further, his request was that I wanted your help, but I didn't want you to leave me alone. It's basically equivalent to the requirements of the female boxer, if you love me, you must trust me, tolerate everything about me, and give me money to spend, so that I will give you the opportunity to love me in the future.

Goddesses of the general level will be beaten if they make such a request.

But now Chu Yuanxi has already dressed up as a well-off, a super-high-value iceberg female president-level frozen age goddess, licking dogs. At this time, although you are powerful, it is unfortunate that you are not good at licking, and some are very good at licking dogs!

This makes the straight man who plans to assign his own son after pursuing the goddess feel nowhere to eat.

Chu Yuanxi guessed in his heart that Xue Zhengwei was playing this abacus seven or eight times out of ten.

Why is it difficult to take SoftBank's money? Because it is very cool to take SoftBank's money, it is very generous in terms of valuation, and it can provide a lot of resources, but SoftBank will unceremoniously penetrate the well-off. For example, Grabi, Grabi's current president was assigned by SoftBank, and this kind of infiltration is comprehensive, causing the erosion of corporate culture, which is precisely what Chu Yuanxi cannot accept.

Thanks to the strength of SoftBank, there are many people who have studied him, and SoftBank's corporate culture is extremely distinctive in the eyes of the world. Sun Dasheng is the biggest monopolistic person of this era, always believing that monopolizing the market can be winner-takes-all, and has also influenced all of SoftBank's portfolio companies, whether Uber, Didi, or Grabi, are very obsessed with monopoly.

And Chu Yuanxi doesn't say anything about being well-off, at least he must win with a business model. But after accepting SoftBank's investment, the most likely thing is to become more aggressive, talk about capital operation, and merge and acquire everywhere. At that time, even if Chu Yuanxi doesn't want to do this, his control over the company will definitely continue to decline, and the temperament of the entire company will change, and there will be countless people who will persuade him with all kinds of benefits. No one wants to be on the opposite side of all employees and investors, and neither can the founders.

There are too many examples of this in SoftBank's long investment history, and it is needless to think that this is the result.

At that time, Xiaokang may move towards another form of success, or it may become a big monster in the business map of the Celestial Empire. However, Chu Yuan Xixin said that what the old man wants is not only "success", but if he wants to succeed, the Naba people group has already succeeded! What I want is to be well-off, not to make it an extension of SoftBank.

Another question on the bright side is simpler, Xiaokang has accepted SoftBank's investment, will SoftBank take Xiaokang's business plan and then pour it into Grabi?

You must know that Grabi is a company in which SoftBank has invested billions of dollars, and it is not a problem to be more than his own son, no matter how much he eats for the well-off, he only plans to raise a total of 100 million yuan in the A round.

Therefore, seeing that Xue Zhengwei didn't speak for a long time, Chu Yuanxi knew that he shouldn't be able to say anything, so he planned to send off the guests.

There must be etiquette to send off guests, and there are scenes, Chu Yuanxi's scene words are: "More hot money will lead to market deformation, which is not what I want to see, so I understand your kindness." ”

Xue Zhengwei scratched his face and said embarrassedly: "Although I don't want to say this, if you don't take our SoftBank money, it means that a lot of resources will be tilted elsewhere, and you will definitely regret it when the time comes......"

Chu Yuanxi nodded, and said in his heart that I had prepared a gift package for Sun Dasheng, and when the time came, I would like to put Elizabeth in Nanyang, and I will see which of us regret it. But this matter has nothing to do with the Greater China region, even if someone regrets it, it will not be Xue Zhengwei Xue Zong, this person himself is still relatively personable, and it seems that his ability is not weak, if he merges with Li Jingfei, he will definitely be a strong enemy.

Waiting for Xue Zhengwei to leave, Elizabeth quietly came to the tea room. As soon as Yuan Yu said what had just happened, Elizabeth's expression suddenly looked very strange.

"What's wrong, why is this expression?" Chu Yuanxi was quite strange.

I only heard Elizabeth say: "SoftBank's grandson is in Silicon Valley, but he is a very complicated person who is difficult to characterize!"

"Not to mention in Silicon Valley, it also has a mixed reputation in island countries. "Yuan said, "The concept of island people is super hardcore, and they must set up their own companies, operate their own business, and develop their own in order to be highly evaluated." Therefore, many people in the island countries say that Sun Dasheng made a fortune through investment and mergers and acquisitions, and he is considered a rich man, but it is far from the 'Four Sages'. ”

"Listen to their times and you won't be progressive. Chu Yuanxi just wants to give the people of the island a "hehe", Sun Dasheng said that he is a travel empire to establish a global territory, but in fact he is investing in the "business of the whole people", and he wants to compete with the financial empire controlled by the Jewish consortium.

"So, detective, what do you think about this investment intention?"

"My thoughts? My thoughts are that I want to go to Southeast Asia to fight Grabi now, this opponent is worth fighting! There is still more than half a year to go until the end of the year, and I can't wait!"

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I'm here to push the book again, "The Devil Who Works Hard to Survive". The beginning of this book is a little poisonous, because the author writes about history and military. However, he wrote a historical military with the theme of spy warfare in the 60s (it can be seen how iron this person is) was killed, so he ran to mix in the city, and the beginning was still a fantasy beginning, and it was tolerable to enter the state slowly, and it was more fun to follow.