Chapter 2 Chinese-Style Funds 3
3. Advice from seniors: Returnees must be localized
Before Qin Fangyuan went to the interview, Shi Wenqing began to create a public opinion environment within Mingming Media, saying that Wall Street talents had joined Mingming Media.
It's just that such boasting hurts myself. After Shi Wenqing took over the financing intermediary business of Mingming Media, he often ran to this company, coming and going, Shi Wenqing, who prides himself on being lustful but not lewd, and is born with a woman, is naturally familiar with the beauties up and down this company, and he usually speaks without hindrance: "Let me tell you, a returnee will come soon, a handsome guy!"
"How handsome is that? Who do you look like? We haven't seen three legs, but we've seen a lot of two-legged ones. β
"Although not as handsome as the Four Heavenly Kings, he is younger than them!"
"The Four Heavenly Kings are the fathers, who is still rare about them!"
"Have you ever seen Li Guangjie? is more handsome and tasteful than Li Guangjie!"
"Wow, Li Guangjie, how sharp and stylish?
"More than one meter eight!"
Shi Wenqing really whetted the appetite of the beauties of the company. However, he himself was coldly struck by the trend, and his face immediately turned green. "Oh, I see, you are Wu Dalang, he is Wu Erlang, the gap is huge!" Then the girls laughed and their stomachs hurt.
Qin Fang went to remember the media interview. On the first day, Shi Wenqing told Qin Fangyuan that he had made an appointment to meet with the boss of Mingming Media at nine o'clock the next day, on a certain floor of Wangfujing Oriental Plaza. When Shi Wenqing mentioned Oriental Plaza, Qin Fangyuan seemed familiar, and then remembered that on the plane on the day of his return, the address left by the American Wenzhou girl named Yu Yan in Chinese was not Oriental Plaza? Suddenly, he couldn't help but feel a little lost in his heart.
Early in the morning, Qin Fangyuan got up, washed up briefly, and went downstairs to the community for a run, the air was gray and there was a smell of soot. When he was in the United States, he heard that Beijing is the world's famous "blocked city" after Mexico, and after all, it was the first time the boss interviewed, and he was not very familiar with the road conditions, so he got up early and hit the road early.
The road conditions were relatively smooth this day, and when he arrived at the Oriental Plaza, he looked at the time, it was 8:25, and there were still 35 minutes before the scheduled interview time, so he went downstairs to McDonald's and had a casual breakfast. At 8:50 a.m., he took the elevator to the first floor, and then took the elevator to the 18th floor of the Remembering Media office area. At 8:58, he stood in the foreground. Almost at 9 o'clock, I arrived at the office of Zhang Jiahong, chairman and president of Mingming Media Company, on time.
Qin Fangyuan was about to speak, but Li Beibei at the front desk had already stood up, and his voice was sweet: "You must be Mr. Qin Fangyuan, right? β
Qin Fangyuan couldn't help but glance at Li Beibei carefully, Li Beibei smiled, and took Qin Fangyuan to Zhang Jiahong's office with a swaying posture.
Li Beibei knew that Zhang Jiahong was already waiting for him in the office. When she got off work the first night, Mr. Zhang personally reminded her that Qin Fangyuan was going to come for an interview the next morning, and early this morning, Zhang Jiahong drove her Porsche Cayenne over and waited in the office early.
This became Li Beibei's proud talk in the future. I have read countless people anyway, and as soon as he walked in, I knew that it must be Qin Fangyuan. That feeling is completely different from the commonplace domestic white-collar workers. No, no, it's not that he is handsome, but, well, a straight figure (due to not paying attention to sitting posture in school and work since childhood, the lumbar spine of white-collar men is not straight now), the hair is black and neat (now white-collar men are more bald, and the hair that is not bald is also messy, lest the boss can't see that he worked overtime last night), the most important thing is that he has a comfortable temperament, politeness, and a smile in his eyes (now white-collar men are either thieves or conceited, and they are forced to pretend to be confident), it seems that Shi Wenqing, who is giggling all day long, is trueγ
He Jing was very dissatisfied with Li Beibei's smug and intoxicated appearance, and she interrupted Li Beibei and said, "You call it estrus." Li Beibei was not angry, and whispered intoxicatedly: "What I said is the truth." Didn't you also find an opportunity to walk around the door at that time, didn't you also want to meet this handsome guy? Anyway, he remembered me at first sight. β
He Jing glanced at her angrily, and then felt that it was quite boring to compete with this superficial little girl with her talent and identity, smiled self-deprecatingly, and turned to leave. He Jing is a native of Hunan, worked as a model in a modeling company in Shenzhen, and somehow was brought to Beijing by Zhang Jiahong, where she worked as the secretary of the chairman of this cutting-edge media company.
Regarding the arrival of Qin Fangyuan's stars like the moon, He Jing was inexplicably a little resistant. She is not too young, and it is time to hurry up and talk about marriage, and she heard that the company will soon have a new young talent on Wall Street, she is not without curiosity and expectation, but she really doesn't like itβto the point of disgustβthe woman sticks her eyes up when she sees a slightly outstanding man. The more shallow little girls like Li Beibei looked like a nymphomaniac to Qin Fangyuan, the more she disliked Qin Fangyuan. It has nothing to do with him, it's a war between women.
She secretly drew a line between herself and them, since Qin Fangyuan was what they liked, she would definitely not be able to enter her own eyes.
Zhang Jiahong had been looking forward to Qin Fangyuan's arrival for a long time, she saw Qin Fangyuan enter the office, took the initiative to stand up from behind the boss's desk, and then walked out and hugged Qin Fangyuan gently. According to He Jing later, this was the first time she had seen her greet guests with Western-style intimate etiquette since she followed Mr. Zhang, and she was an interviewer who was about to become a subordinate.
When they met for the first time, Zhang Jiahong gave people the feeling of being straightforward, capable, and affinity. After the two sides sat down, Zhang Jiahong showed an easy-going side, and introduced lightly: "This idea is an idea for a dinner, I originally did outdoor advertising, and put up some big signs in the prime location." These signs are not erected by anyone who wants to, so what is called pulling advertising, it is simply waiting to collect money, and several brands are rushing to ask for a brand, all of which are state-owned enterprises. Who knew that Beijing opened the Olympic Games, and all the outdoor advertising was cleaned up, so I chatted with a group of friends, and the result was such an idea, and we will go to NASDAQ in the future. β
When he said this, Zhang Jiahong looked smug. She also told him in person that she fell in love with this young man who was less than 30 years old at first sight, tall, thin, delicate, and "even his eyes were full of wisdom".
Qin Fangyuan asked tentatively: "Mr. Zhang, in fact, I stayed in the United States as soon as I graduated from graduate school, and I am not very familiar with the situation in China, and I have no experience of directly participating in Party A's financing. I am an investment banker, I have always been in the role of Party B's service, and I have no experience, why did you choose me to join?"
Zhang Jiahong likes Qin Fangyuan's straightforwardness, which arouses her boldness. She stared at Qin Fangyuan and said, "You like to go straight, then I'll be honest with you." I'm a rough person, I used to do sports, and then I did advertising. I don't understand about financing, the first investment is based on favors, and now the second investment requires professional talents.
"As for why we want you back, we need US dollars for this wave of financing, and the negotiators are basically overseas VCs and PEs, and I need a suitable person to dock. Ideally, the person should be a returnee, an Ivy League graduate, and have worked as a Wall Street investment banker, even if you've only worked for two days in a small Wall Street company, or a Silicon Valley entrepreneur, even if you've only set up a hot dog stall there. Maybe you don't like to hear this, but I'm telling you the truth. β
Qin Fangyuan listened and boldly looked at the female boss. Qin Fangyuan's initial impression of Zhang Jiahong was very deep: a pair of big earrings, very striking on her thin, fair face, fluffy hair over her ears and shoulders, and she stared at you, her eyes did not blink, as if you could not leave any privacy in her field of vision.
Zhang Jiahong's words suddenly hit Qin Fangyuan's sensitive, arrogant and fragile heart. Two years of studying abroad at Princeton University and three years of hard work in a large Wall Street investment bank, what a glorious qualification! In the eyes of domestic bosses, they are just selling a piece of foreign skin.
Zhang Jiahong could see Qin Fangyuan's mood swings at a glance, and she smiled: "I'm a rough person, these foreign VCs hate me as dirty, they don't have a common language, they have to have someone who can talk." We need to think that we can do it, and we need others to say that we can do it, and that the person who says we can do it should also do it. β
Qin Fang** calmed down his emotions for a while, and he said: "If the company is indeed as you say, I believe that I can help the company create value, and I also believe that I will only add value to the company and not depreciate." β
Zhang Jiahong liked this kind of Wall Street complacency, and she asked, "If I were an investor, what would you rely on to convince me to invest in your company, or what kind of qualities does a start-up rely on to obtain successful financing?"
Oh, the female boss in front of me is good. It comes up with a very professional question. Later, Qin Fangyuan knew that the so-called long-term illness became a doctor, and Zhang Jiahong was also exposed to it in contact with many investors, and he somewhat understood some of the ways in investment and financing.
Qin Fangyuan didn't rush to answer, but told a story: "I once listened to a class in the United States, and I borrowed the New York Angel Club (New Yo
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gels), Rose Tech Ve
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David S. Rose, managing partner of es (Logitech Ventures), answers you with his thoughts on angel investing. It's a lucky business, he says, where you have to kiss a bunch of frogs to hit a big project. This person is very remarkable, he belongs to the entrepreneurial investor, that is to say, he started his own business, and later became an investor, so he belongs to the 'amphibious' investor. For the financing of start-up enterprises, he proposed that there are ten qualities that are very valuable, which can be summarized as ten key words: (1) i
teg
(2) passio
(3) expe
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CE, experience;(4)K
Owledge, knowledge, (5) skill, skill, (6) leade
(7) commitme
(8) Visio
, Vision;(9)
(10) Coachability, listening.
"Of course, for Mindful Media, it has successfully had its first round of financing, which is not angel investment. From some of the material I have, honesty, passion, and commitment are important. The advertising industry is different from IT companies, mainly because the degree of technological innovation is not high, but the innovation of business models is emphasized. Honesty is the most basic requirement to win consumer customers, passion needs to show investors the power of our upward growth, and commitment represents our own confidence in the company's prospects. β
Qin Fangyuan finished speaking in one breath, and then looked at Zhang Jiahong levelly, waiting for Zhang Jiahong's reaction.
Zhang Jiahong was distracted for a moment when Qin Fangyuan answered, especially for the ten key English words, it was very difficult to understand, or simply couldn't understand. However, she understood Qin Fangyuan's honesty, passion and commitment in Chinese, and she showed a look of appreciation, as if she was unwilling to be seen as not understanding. She also added: Yes, add one more: explosiveness!
Qin Fangyuan was stunned when he heard this, he knew that in fact, this word was not used badly.
Zhang Jiahong looked at the young man in front of him full of confidence and passion with admiration. There is a lack of such a fresh and energetic atmosphere in the company now, whether it is a turtle or a turtle, this young man is worth absorbing. In the future, with this person by his side, he will have the confidence to deal with those foreign funds.
Zhang Jiahong stood up and stretched out his hand: "You are very welcome to join! You will pick up the burden when you come, and we will leave the matter of investment and financing to you, I believe you can do it! As for the conditions, I believe that Shi Wenqing has already told you, and his words represent my opinion, and I will honor it on time." β
The interview seemed to be quite successful overall, and it was basically over in an hour. He Jing said that this has been a long time for the boss to interview on a formal occasion. Do you know how she recruited? It's neither formal nor long, and it's very arbitrary. She will meet with interviewers on various occasions, including dinners or in the gym, and basically finalize it, of course, the recruitment is mainly sales. Zhang Jiahong, who was born in sales, is so shrewd, she takes a few glances and chats a few words, and she knows the other party's catties.
Qin Fangyuan was in a very happy mood after coming out of Oriental Plaza. However, he also has some resistance, what does it mean to "even if you have only worked in a small company on Wall Street for two days to do chores"? From childhood to adulthood, Qin Fangyuan has always considered himself excellent, and he is a top man at every stage, but these are not as good as the signboards that are just mixed up on Wall Street for a few days? When he was in an investment bank on Wall Street, although he did the work of an analyst, he flew around with his boss and saw a lot of projects, and he was mainly in Europe and the United States, and he had never eaten pork, and he had seen pigs run.
Out of the Oriental Plaza building, Qin Fangyuan called Shi Wenqing. Shi Wenqing's background voice was noisy, and he shouted on the phone to wait a while, and he came out to pick it up.
It turned out that Shi Wenqing sang with the directors of a company at KTV: "No way, that's what you do." Aren't we intermediaries? We just help customers successfully raise funds and earn commissions, which is the case in China, singing, drinking, and washing. β
Shi Wenqing seems to have known the results of the interview for a long time, and someone must have reported to him. He told Qin Fangyuan that he was still in Dalian these days and couldn't go back, "You go see my boss now, he has always wanted to see you."
Shi Wenqing's boss is Li Hong, who has passed the age of not being confused, went to the United States in 1985, won an MBA from Columbia University, married a Taiwanese wife, and is one of the first Chinese students to go to Silicon Valley for development, with rich life qualifications. He is not only Qin Fangyuan's life idol, but also a young mentor for many international students who have returned to China to start their own businesses.
In fact, as soon as Qin Fangyuan came out of Mingming Media Company, Zhang Jiahong called Li Hong, saying that he was very satisfied, and it was estimated that Qin Fangyuan had some pimples in his thinking, and asked him to help do ideological work.
The meeting was about in the afternoon, and Li Hong's family was in the Daoxianghu villa area of Haidian, some distance from the downtown area of Beijing, and went north on the Badaling Expressway. The taxi driver said along the way that this was a vegetable field in the countryside in the past, and there were some lakes, so the villagers had to toss for a long time to enter the city of Beijing. Isn't it popular to say that when the countrymen eat vegetables, the city people eat meat; when the country people eat meat, the city people eat vegetables; the country people want to go to the city, but the city people want to go to the countryside; the country people think that only when they are rich can they have style, but the city people start to lose weight.
When the car approached the villa area, the driver pointed to a white lake: "Do you know? There is a small island in the middle of Daoxiang Lake, which is said to be the red light district of their rich people. But I heard that the ΓΓ district chief was planted in prison for the development of Daoxiang Lake. β
Li Hong's newly built villa is a large courtyard house, hidden among lush trees. He stood at the door, leading a wolf dog, wearing a placket Tang costume, pure cotton products, his hair was combed back very smooth, his forehead was wide, and he looked hearty. He had been waiting for a long time.
The yard space is very large, there are a lot of pomegranate trees, and there are seven or eight houses. They entered a house in the middle decorated with Chinese wood carvings, mahogany chairs, and they were smooth to the touch. Li Hong laughed when he heard Qin Fangyuan's account about the interview, he patted Qin Fangyuan on the shoulder and said, "Actually, your luck is not bad, it was Zhang Jiahong who ran into it." This female boss has a bold personality, and if it were some other people, she wouldn't have directly put forward conditions to you at all. It's like the difference between Eastern and Western cultures, and it's also the difference between dumplings and pizza. Dumplings and pizza are the favorite foods of Chinese and Westerners, respectively. Chinese are more subtle and mysterious, like to wrap things up, like dumplings, what is the filling, eat to know. Westerners like to be straightforward and transparent, like pizza, where there is meat, cheese and vegetables, all spread out on the surface, at a glance. In China, there are many things that need to be pondered, and practice brings true knowledge, and it is certainly not possible to completely copy the one of Wall Street. With economic globalization, talents must be localized. The most expensive is not necessarily the best, the most suitable is the best. When I returned to China, I was also faced with the confusion of integration, and it was natural to get used to it, and it was natural to show that I was integrated, and I was competitive when I integrated. β
Li Hong changed the subject: "I have heard Shi Wenqing mention you a long time ago. When I was a student at Columbia, I used to go to your Princeton University to visit your Institute of Advanced Mathematics, and Nash was still there, right?"
At the mention of Nash and Princeton, Qin Fangyuan's face was full of pride, and his voice became louder: "He is still in the mathematics department. He is a very strange person, I guess it has something to do with the kind of illness he has, it is rumored that he is completely cured, I don't know the specific situation, it seems to be good and bad. Once, he wrote all kinds of wonderful formulas on the blackboard in a classroom, and the students couldn't understand them, and I happened to meet them, so I asked who the classmates were, and they said it was Nash. One side. β
"What do you think is the greatest strength of Princeton University?"
For example, visiting scholars, as long as they apply, they will be all-inclusive, including food, housing and salary, and there is no academic pressure, such as having to publish papers in what level of journals and so on. Our school is the largest alumni donation, alumni are proud of the school donation, like Hu Yingxiang, an alumnus who graduated from Princeton University in the 60s, is the ** road king, he donated 100 million US dollars to his alma mater in the name of Princeton alumni, which is the largest donation received by the school, which makes me very proud as a Chinese student. β
"I have been to the conjoined building of your Department of Mathematics and Department of Physics, and the hall of your Department of Physics is full of Nobel Prize medals, which is very shocking!" Li Hong did not forget to praise Qin Fangyuan.
Li Hong is good at tea art, and made a pot of aged Pu'er, and the tea soup turned red and black. Qin Fangyuan took a sip, which was initially a smell of traditional Chinese medicine, and then smooth and thick.
Qin Fangyuan took Li Hong's words and praised the other party: "Columbia University is also an old Ivy League with many outstanding alumni. Like your old classmate Shi Wenqing, your junior brother, he returned to China after graduation, and he has such good luck to invest in your disciple and benefit a lot. This time I ran to the United States, and the changes were so great that I didn't even know him anymore. β
This afternoon, the old and the young chatted more speculatively. In fact, Li Hong is not old, just in the years of hard work, Qin Fangyuan believes that rich experience makes people more and more like a wise man. Why do foreign countries call doctoral degrees "Ph.D"? οΌDocto
Translated into Chinese, it is a doctor of philosophy. When you read that the Ph.D. are all immortals, you will naturally rise to the level of discussing the value of life, the meaning of life, or the question of birth and accession, and you are a wise man. Of course, it has to be a real doctorate, not a fake doctorate from the current Pheasant University in the United States, or a "dissertation doctorate" who does not take a day of classes at domestic universities. Thinking of the doctorate, Qin Fangyuan naturally thought of Qiao Mei, who was studying for a doctorate. On the day he arrived in Beijing, Qin Fangyuan called Qiao Mei to report that he was safe, and Qiao Mei didn't say a word on the phone until Qin Fangyuan said that he had arrived safely, and Qiao Mei took care of herself and pinched off the phone. Qin Fangyuan really realized that this return to China really hurt Qiao Mei, and his heart felt like he had been pricked by a needle, and it hurt.
This afternoon, Qin Fangyuan noticed that Li Hong had turned down a few meetings and dinners, leaving the entire afternoon to him.
The two talked about the Remembering Media Project, and Li Hong was not afraid to ask future generations for advice: "What do you think of this project?"
Qin Fangyuan thought for a while and said: "To tell you the truth, in the more than a month that I planned to come back, I made a brief analysis of the domestic outdoor media market, and at the same time, compared with the application materials for the listing of Focus Media, I personally think that this project has a flashpoint. He then analyzed the data based on what he had.
Mindful Media is similar to Focus Media, which is a more subdivided focus, mainly installing 10-inch LCD screens in the bathrooms of star-rated hotels and high-end office buildings. If Jiang Nanchun's Focus Media makes full use of the time when everyone goes to work and waits for the elevator, bearing in mind that the media is to "turn waste into treasure" when people go to the toilet.
Qin Fangyuan said that he was very concerned about Lao Yan, a Series A investor in Mindfulness Media, and when he was studying at Princeton University, he saw him on the list of alumni donations, which was also an important factor in his decision to return to China and join Mindfulness Media.
Li Hong took over and said: "We are very familiar with Lao Yan in the United States, and some media have set him up as the first person to introduce venture capital to China, no matter how he is positioned, it shows that his contribution to this industry is indeed not small." In the capital market, no matter how famous a person is, there is an obvious indicator to determine the value of this person, that is, to see how many funds he is in charge of and how large the scale is, which shows how many LPs trust him and give him money to manage. β
Qin Fangyuan said in a tone full of admiration: "I heard that Lao Yan has two funds on hand, a RMB fund and a US dollar fund, which are not small. β
"There are 2 billion dollars in US dollar funds and 3 billion yuan in RMB funds. Li Hong said it lightly.
Qin Fangyuan gasped, drank a small cup of Pu'er tea, and paused inadvertently for a moment when he put the cup down, adding a point of admiration.
Qin Fangyuan wanted to get to know Zhang Jiahong indirectly, so he asked Li Hong more seriously: "A friend in China did securities industry analysis, and also helped me query some information and do some interviews, and I got to know Mingming Media Company and its boss Zhang Jiahong positively. The boss is still a little different from what I imagined, neither equal to the fierceness of the boss of the Shanxi coal mine, nor the boss of Jiangsu and Zhejiang, he is a special person. β
Li Hong laughed when he heard it. "This Mr. Zhang, when he was engaged in sports, he made a national 100-meter hurdles champion in the junior group, with strong explosiveness and strong personality. In the future, you will understand that Mr. Zhang has some resources that are difficult for many enterprises to achieve, and it is quite energetic to be able to set up outdoor billboards in the prosperous area of the capital. Li Hong said that this is Chinese characteristics, and then he said earnestly, "China's capital market is not exactly market capitalism, you have to follow the local customs, in fact, it is about integration, localization and localization, I believe you will change over time." β
After chatting for three or four hours, Li Hong asked the Shaanxi chef to cook authentic Shaanxi dishes, although he has been in the United States for many years, Li Hong still retains the habit of eating hometown dishes. After returning to China to build this courtyard villa, he specially invited a Shaanxi chef to cook at home, and when VIPs came over, they were also entertained. Compared with all kinds of meals in those high-end places, Li Hong advocates green diet and healthy life, even if eating abalone and sea cucumber outside, it is not as good as a green vegetable and tofu porridge at home, which is comfortable and nutritious.
The two of them were like masters and apprentices, chatting while eating, this scene suddenly made Qin Fangyuan a little embarrassed, maybe it should be Shi Wenqing sitting here today, Qin Fangyuan felt that it seemed to be a bit of a friend to love. However, the thought came to me in a flash.
As the consultant of the second round of financing of Mingming Media, Shi Wenqing is the person in charge of the specific project. Before leaving, Li Hong patted Qin Fangyuan on the shoulder: "You have to cooperate well." β