I have to say that from the summer of '18 to the autumn of '19, the capital market was generally not optimistic about Tencent. More people in the Internet industry are even less optimistic about Xiao Ma.

What game version has been suspended for more than half a year, and the chicken game cannot be realized......

WeChat's traffic growth seems to have peaked......

ByteDance siphons away Tencent's user time and advertising revenue......

Corporate cultureThe management is too Buddhist, has no dreams, and is not wolf enough......

Even Penguin seems to feel a lack of confidence, especially every time Alibaba announces its earnings report, there are Tencent employees who complain about why competitors are so efficient and leading.

As a result, as soon as the financial report came out,

Silence!

The game version number is done...... Social ad revenue skyrockets...... Fintech and cloud services are outstanding......

Instantly shut up those who complain that Tencent has no dreams!

What is called feng shui in turns, I don't know when it started, most people in the market began to be unoptimistic about Ali again?

The idol that once claimed to be invincible in everyone's minds,

The ceiling is much higher than Tencent,

You can directly challenge FAANG......

Where did it go?

Thinking of this, Shen Feng smiled dumbly, how absurd the so-called efficient market hypothesis is. Tencent is still that Tencent, Ali is still that Ali, a giant with a market value of trillions of dollars and a net profit of 100 billion per year......

die

First of all, ask the state whether it agrees or not?

Why do you think this way?

Because in the era of mobile Internet, people's learning of knowledge is highly fragmented, and formal professional discussions and after-dinner chats are often mixed, which makes them more susceptible to the influence of prejudice and more violent mood swings.

To put it bluntly, it's not clear what is true and what is fake!

In the past 19 years, all the criticism of Tencent has finally pointed to the management, what Xiao Ma's management style is too Buddhist and too introverted;

Martin's over-focus on strategic investments rather than organic growth;

Mark didn't make a name for himself in his PCG business group......

Most of the criticism of Ali this year is still directed at the management, especially the newly appointed Xiaoyaozi, and some investors have begun to point their noses and scold: it is a home that is defeated!

Good guys, this is the first full fiscal year for someone to take over as executive chairman!

Of course, there is no wind and no waves, and the reason is nothing more than four points in my opinion: the lack of containment means for the rapid rise of Pinduoduo, which was once again proved by the last quarter's financial report.

In the field of local life services, it is difficult to compete with the powerful Meituan.

Short video platforms such as Kuaishou and Douyin have entered e-commerce transactions, threatening the core territory of Taobao.

Finally, it is Prince Jiang's divine mending knife......

Completely detonate the question of unladylike employment.

Even if Xiaoyaozi has repeatedly emphasized that he will not follow the pace of competitors such as Pinduoduo, he must maintain his own pace.

In order to support Ele.me, he transferred his confidant Sun Quan from Alipay to be in charge of local life services.

It also established a retail business group in the same city with Tmall supermarket as the core.

The operation is as fierce as a tiger, not only does it not produce immediate results, but it makes it difficult for the outside world to understand what you are doing?

Shen Feng stood up and came to the floor-to-ceiling window, and it was fair to say that Xiaoyaozi was Alibaba's most successful executive in recent years, and one of the most prestigious executives.

Otherwise, how can an airborne soldier with a CFO background and no front-line experience replace the position of the old horse?

Jingdong has been eyeing the Tao system for so many years, and its self-confidence is approaching the Tao system, and in the end it was also stopped by Xiaoyaozi?

is neither a founding veteran of Ali, nor a technical background, to get to where he is today, is it not because of his ability to be handsome?

A person who has fought a tough battle, and suddenly loses his mind and goes crazy in the past two years?

Do you believe it?

In his own eyes, his financial background is not a disadvantage, but his most powerful killer feature.

Ali is already a trillion-dollar giant, and he is involved in moving his whole body, and without a calm investment vision, he is simply busy.

The reason why Lao Ma and other shareholders chose Daniel Zhang must also be fancy this, as the original founder of Ma Yun, there is too much destiny and luck on him, and success cannot be replicated at all.

It's harder to keep your business!

If you want to analyze it yourself, Lao Zhang's idea is very simple: to establish a complete local e-commerce system in the same city, including takeaway, in-store, intra-city retail, fresh e-commerce, intra-city express, and home service.

Alibaba's new infrastructure such as cloud computing, AI, Cainiao, and Hummingbird will support the above systems.

The cash cow of Tao e-commerce will provide financial resources for the above system.

Everything was predetermined, and he has been the chairman of Yintai Commercial since 15 years. In 17 years, Yintai became the first large-scale offline supermarket to be fully consolidated by Alibaba.

At the same time, the concept of new retail was proposed, and money was desperately spent to invest or acquire offline resources......

Hema Fresh, Taoxianda, Koubei.com, Eleme, Hummingbird, Cainiao......

I understand that it's all about making a fuss about the local area in the same city.

Not in his position and not seeking his own government, in the eyes of the outside world, seems to be a symbol of Ali's loss of flexibility or Xiaoyaozi's lack of judgment.

And really sitting in this position, Shen Feng can best understand the hardships, the real world is changing rapidly, and it is the norm for plans to fail to catch up with changes.

It's like driving a heavy truck on a highway for 200 kilometers......

The feeling of holding the steering wheel tightly!

Everyone knows that the mobile traffic dividend has been exhausted, and the offline has become a traffic depression, where is the offline entrance?

But when you really end up, you know that your offline business is far more difficult than online.

Location is king, large personnel management, responsible for social relations, low replicability, fierce competition......

Even the giants are played to death.

Plus a careless one, actually popped out to Pinduoduo?

There is also the unconscious Meituan Lao Wang, who is eyeing him,

Another old Wang of SF Express is ambitious,

Maybe you'll count yourself in?

Shen Feng couldn't help laughing, Xiaoyaozi's life is not very easy!

Compared to the enemy hiding in the shadows, what is the old enemy Jingdong Tencent......

Proper good man!

Shen Feng secretly rejoiced that the drudgery must be done by someone who can endure hardships, and he has a specialization in the art industry, so he can't accept it.

This is also the reason why I like Hong Gang, thousands of troops are easy to get, and it is difficult to find, if there is no people's hard work, no matter how awesome the golden finger is, can it jump out and push it?

Let a group of otaku who only know how to write code negotiate with the three religions and nine streams?

Hehehe!

Brother Qiang Dong once shouted: 10,000 Jingdong stores and 1 million Jingdong brand convenience stores will be established within five years.

The result?

I don't even know where I went?

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