June 15, 1993, early morning. The headquarters of Japan's new start-up Co., Ltd., the office of the Japanese branch of Tesco.com is brightly lit.

Lin Qi and Uejima and other high-level officials also symbolically fought on the front line with employees, and even personally distributed lunch boxes to employees who worked overtime at night.

Although this is only a symbolic approach, it is a wave of emotion from the grassroots employees.

After all, people want to be valued, if a team, hard-working work, has not been valued, but not discouraged, either it is given a high salary, or the team is a saint, not asking for returns but only pursuing contributions.

Of course, as a commercial company, Lin Qi has no position and righteousness at all, and asks others not to ask for anything in return, but only for dedication. Instead, he mentions more returns, not only in terms of salary, but also in the long run, such as the return of growing with the company.

The major subsidiaries and cells of the new entrepreneurship department all have a culture of growth returns. In addition, whether it is the growth of the parent company, it will return to the employees who hold the shares in the form of profit dividends. It is also a subsidiary, which provides returns in the form of listing, and brings huge returns to the team.

As an important subsidiary of the new entrepreneurship department, Tesco will not only be listed as a whole. Moreover, Tesco will also spin off several websites in overseas markets. For example, Japan's Tesco and the United States' Tesco are all preparing to be spun off and listed.

Tesco Group holds the equity of subsidiaries in various places, releases some equity, and stimulates the struggle and competition of the teams of subsidiaries in some important markets.

Tesco.com Japanese website is also clearly proposed to be spun off and listed!

The Japanese website of Tesco.com, which has been in preparation for almost a year, is also ready to be launched at 1 a.m. on June 15, 93, and open for registration. In addition, considering that online payment is not very popular at present, therefore, in addition to online payment, cash on delivery is still supported. However, some coupons cannot be used for cash on delivery.

Most of the coupons can only be used when the Tesco wallet is activated to pay, and the money is deposited on the Tesco wallet.

"All the employees of Tesco Japan Branch, I am very emotional when I see everyone's high enthusiasm for work. Lin Qi said, "The average age of you is no more than 25 years old, which is basically an extremely young team. Although the website of the Japanese branch of Tesco has borrowed from the experience of Chinese websites, it has been developed from scratch to provide consumers in the local market with a more emotional experience and functions. ”

"Not only all of you, but I am touched by your dedication to your work. Other team employees who are not present, including the logistics team, are important. After all, as an online shopping site, we need not only technical staff and customer service staff in the office, but also logistics staff to transport and deliver goods to customers. ”

"The '90s were a new era, and it wasn't just the end of the Cold War. Moreover, it has also ushered in the Internet, the Internet economy will become a new engine for the world, bringing a new experience to consumption, and for the team participating in the Internet company entrepreneurship network, the future of you is also unlimited. Because, we will not only give you salary and position treatment, but more importantly, the equity of Tesco will also be open to the entrepreneurial team. ”

"We initially withdrew 20% of the equity of Tesco Japan Branch, etc., which was specifically used for employee incentives. In the beginning, in order to gain active users, we at Tesco, whether in the Chinese market or in the Japanese market, must have been subsidizing consumers at a loss for a long time, and could not achieve profitability. But...... Have you ever heard of businessmen who specialize in losing money? No, the e-commerce model is actually low-cost and advanced. Compared with the traditional retail model, we need less retail real estate, fewer employees, and fewer wholesale and retail channels, so we will have an advantage in getting the cost of goods and delivering them to consumers. Even if it is a logistics and transportation cost, it seems to be a huge expense in a single transaction, but ...... Since we only need to use the website, we can establish a channel that covers all the Internet in Japan. In terms of the penetration of our channels and the number of people in the area covered, it will definitely surpass any traditional Japanese retail company. Therefore, as long as we can implement, persist, continuously improve, and continue to provide efficient and high-quality services, we will only become stronger day by day. As for the loss of initial expansion, it is actually controllable, we are determined by the business model, we can make a profit at any time, but profit means that the subsidy is reduced, and there is no longer an advantage in terms of price. Then, it gives competitors room for development, and we don't have a price advantage, if we want to get more users, we need to spend more money to buy advertising, but the effect of advertising to attract popularity is not as good as our direct subsidy market consumers with greater efforts......"

"It is precisely for this reason that don't feel that there is no future because of the continuous burning of money on Tesco. In fact, when the loss is turned around, it proves that the expansion has come to an end, but there is a lack of room for growth. ”

As for the return of the equity incentive of the entrepreneurial team on Tesco, it is not realized by dividends in the initial stage. After all, there is no profit dividend without profit. Not making a profit does not mean failure, because its funds are to subsidize consumers to get more traffic when the market traffic is relatively cheap. Consumers are satisfied with the platform, and the platform as a mainstream shopping platform, with its years, ten years or even a lifetime, will bring us immeasurable long-term returns. It is precisely for this reason that we need to have a reason to cultivate consumers to be long-term and active, and not to be able to leave us. When inertia is formed and the market has stabilized and consolidated, it is a period of harvest in the form of profits. As for the initial return to the original shareholders, it is mainly based on listing. At present, the NASDAQ market in the United States is very welcoming to the technology industry. Moreover, the wave of technology continues to sweep, and technology stocks will have a higher market value in the future. In five to ten years, it will be listed at the right time, and as long as the performance of Tesco Japan is good, I believe that it will give shareholders a hundredfold return. ”

In an instant, the audience burst into fierce applause.

"Next, soon the website will be officially operated, and, with a few days later in the 618 mid-year promotion, we have given a large number of concessionary goods, in order to activate consumers' enthusiasm for the registration and consumption of the website, I hope that you will seize the opportunity to become a hit, so that Tesco can establish a leading position in the online shopping market in the Japanese market!

As Lin Qi's voice fell, the market staff was excited!

"618 will win!"

"Dominate the Japanese e-commerce market!"

"Dominate the retail market!"

In fact, this team has carried out a series of Internet concept brainwashing. Many Internet companies can be called cults to the extent of brainwashing, including mainstream companies such as Amazon, which give employees far less than the market's returns, but require the other party to make greater efforts, which requires chicken soup and brainwashing, so that the team believes that the stocks held in their hands are not worth much now, and will be worth a hundred times and a thousand times in the future.

And most of this brainwashing is really just a scam, because if you become a king or lose, you are naturally garbage if you go bankrupt. And after the success of the giant, how to squeeze and despicable in the process, this has been with the success of the enterprise, the stock appreciation of employees hundreds of thousands of times, so that the previous promise is fulfilled, naturally it is not a scam.

As far as the e-commerce market itself is concerned, the market prospect is indeed very large. But...... In the end, only a handful of oligarchs succeeded. The vast majority of entrepreneurial teams and venture capitalists who invest in e-commerce are lost because the projects they invest in are bankrupt.

In this regard, Lin Qi believes in a truth, to enter the market as early as possible, to insist on doing, and finally ...... It is necessary to burn money in place. For example, you have burned money and lost 1 billion, but you are just not profitable. If you don't continue to burn billions, tens of billions, and persist, how do you know that you will fail?

Some project teams can't do it, but more projects are not good for investors, and they can't burn down, resulting in a lossless exit and being ceded by the market to other competitors in the market.