November 10, 1994, 10:30 a.m.

Tesco Shenzhen headquarters.

Thousands of employees are working overtime all night to make final preparations for the upcoming Double 11.

Lin Qi, on the other hand, chose to go to the headquarters of Tesco to condole, work overtime with employees, and wait for the arrival of Double 11. Although Tesco is only an application, in terms of technical content, it is far inferior to Linmeng Technology and Xinchuangxin.

However, in the sense of pure business layout, it is no less than Lin Meng technology and new innovation.

After all, the industry of Tesco.com is e-commerce, and e-commerce is a subversion of the traditional retail model, even if it is a 1% substitution of the global retail market, it is also an amazing market. What's more, the future e-commerce industry's share of the retail market is far more than 1%, but rapidly increased to nearly 10%, and 10% is not the end, but is a phased achievement, conservative estimates, e-commerce to replace the traditional retail industry will not be less than 20%. This means that, according to the most conservative estimates, the future potential of the e-commerce industry is not less than $5 trillion. Let's say, optimistically, a 50% substitution means that the e-commerce industry has the potential to reach $15 trillion in annual transaction value. In other words, the global e-commerce industry is a transaction volume, which is optimistically estimated to be only slightly lower than the GDP of the United States and about the same as the total GDP of the European Union.

It can be seen that the e-commerce market will not only be as simple as ordinary business in the future, but it can even be said that the global influence of the top e-commerce platform should be stronger than that of some small and medium-sized countries on the global economy.

In later generations, China is relatively leading in e-commerce, so ...... In terms of the retail market, foreign brands are not at the same level as China.

Because, e-commerce can penetrate and control the traditional business model in later generations, and it is difficult for the traditional business model to control the e-commerce platform in turn.

This shows that the competition between e-commerce and traditional retail is completely asymmetrical.

E-commerce platforms have a large amount of traffic and transaction volume, and if you distribute a part of high-quality traffic to any company, it is possible to quickly support a giant. Not only commodity sales, but also financial services, culture and entertainment, and e-commerce can rely on invincible traffic and funds to intervene.

Even, if the e-commerce platform wants to alleviate poverty, as long as the traffic is directed to the products of a poor area, it is estimated that it will not be long before the poor area has been lifted out of poverty and become rich, and poverty is no longer worthy of the name. The cost is higher than that of the country's targeted poverty alleviation, or investing a large amount of money to flood irrigation to alleviate poverty, and the efficiency is actually high.

In a sense, the e-commerce platform also contains infinite dominance because of the continuous transaction of a large amount of internal traffic and funds. Countless people's attention, attention both dominates. And these people have money in their payment wallets or online banking, so the eyeball effect has a huge impact.

Once the traffic of the e-commerce platform reaches a certain level, if you want to incubate a new product, the sales volume is far faster and more efficient than the sky-high advertisement.

In essence, Lin Qi is willing to spend money on incubating e-commerce platforms at any cost, not even because of how much market value the e-commerce platform can have after it is listed, nor the profit of the e-commerce platform. Instead, I took a fancy to the terrible transaction volume of the e-commerce platform......

"Mr. Lin!"

"Mr. Lin!"

"Mr. Lin is good!"

Along the way, the employees of various departments in the office building were constantly greeting Lin Qi when they saw him entering the headquarters of Tesco.

Lin Qi smiled and kept waving or nodding in response.

Entering the conference room, Lin Qi saw that the conference room of Tesco was covered with hundreds of screens, and there was a large screen covering a wall in the front.

"Mr. Lin, this is the global data update of our Tesco.com, every 5 seconds, the server of the substation around the world will feed the data back to our side. The headquarters server will be aggregated. We have the most timely and accurate data for the sales data of each sub-website, the sales data of various product categories, and even the subdivision of each order. Even, we have a lot of data research on the education, age, gender, nationality, consumption tendency and so on of the user who placed the order. Although, it is not yet possible to calculate what products users will buy next in the future based on the available data. However, basically, the market trends and consumer preferences of most commodities are more accurate than the rules summarized by traditional business surveys and major traditional brands. Zhao Wenjun, the current president of Tesco.com, proudly introduced Lin Qi.

Zhao Wenjun is also a veteran employee trained by the new entrepreneurship department, mainly to promote the products of the group company in the early stage, and has made good achievements in the markets of different countries and regions. Xinfei Electronic Technology Co., Ltd. and Pangu Computer Co., Ltd. have left good results.

The main reason for being transferred to Tesco as CEO is that the Clinton administration attaches unprecedented importance to the Internet economy, and the performance of stocks in the NASDAQ market far exceeds that of Dow Jones and S&P 500 in the United States. At present, the hottest concept in the NASDAQ market is the Internet concept, and because the most successful investment in the Internet industry is the new entrepreneurship department.

AFTER TESCO REJECTED EXTERNAL VENTURE CAPITAL FUNDING, VENTURE CAPITAL TURNED TO ESCO'S COMPETITORS, SUCH AS AMAZON AND EBAY...... And these two websites, theoretically, the new entrepreneurship department is also the first round of venture capitalists. However, due to the fact that the initial equity is less than 20%, and after the continuous introduction of venture capital in the later stage, the equity of the new venture department in Amazon and EBEY has gradually diluted to less than 10%, and it has no right to speak, only a financial investment.

VENTURE CAPITAL IN THE UNITED STATES HAS CONTINUED TO TRANSFUSE AMAZON AND EBAY, AND THESE TWO INTERNET COMPANIES WITH REAL SILICON VALLEY ROOTS HAVE BEGUN TO DIG INTO THE WALL OF ESCO.

Before, dozens of managers and technicians were poached from the headquarters of Tesco.com. After that, Zhao Wenjun was parachuted in to clean up the mess.

People can be poached, but the development of Tesco cannot be stagnant!

In essence, the core competitiveness of an e-commerce website is not the talent of the operation team and the founding team. More critically, it is the inertia of consumers.

After consumers are accustomed to shopping on one platform, other platforms will not have the strength to challenge the leading platforms in terms of traffic and transaction value, even if they are technically better.

All in all, everything else is trivial, first of all, regardless of the cost, to occupy users and traffic, with user habits and inseparable from Tesco.

Card position first, no matter how much money and resources are burned, it doesn't matter. Because, in the future, the scale and transaction volume of Internet users will sooner or later earn back thousands of times the money burned in the early days.

Lin Qi nodded and said, "Data mining is both credible and not superstitious. For example, no matter how much data is mined, it is impossible to predict whether the innovative product will succeed, because there was no such product before. However, some data has to be believed, which saves a lot of cost and research effort for the sales of goods. Whether the data is useful or not, depends on how it is used. If you use it well, it is valuable. If you use it incorrectly, you can lose money. However, in the future, we should continue to invest in data research......"

"What Mr. Lin said is so right!" Zhao Wenjun said with a smile.

"I'm not going to give you specific goals this year, but it's going to grow every year. And, keeping an eye on the growth rate of the market, speed is now more important than profitability. You can't circle all the users, and no matter how successful you are in other details, it's meaningless nonsense! After the user comes, we will know what the user needs, and then, customize the service according to the user's needs. First there are users, then there is everything. Without users, the website platform is a broken piece of metal, and the website team is a worthless waste. And with the scale of users who are ahead of all opponents, then the website is Jinshan Yinshan, and the team is the best talent of this era! The same is true for stocks, if we become the world's No. 1 e-commerce website, the future market value should be much larger than the world's largest market capitalization company. The second best thing to do is to have a market value of more than $10 billion. However, if you can't make a website with a large number of users and a huge transaction amount, it will be worthless in the future! Therefore, my requirements for you are so strict, and you must not be a traditional industry. In the Internet industry and market segments, the first place must be the maximization of interests, and the second and third places are hanging, even if they don't die, they will survive. Those at the bottom of the list are all chronic suicides, and if they don't die, they will die sooner or later. ”

Although Lin Qi is more realistic, this is the true meaning of the Internet industry. The boss of the industry is the pride of the sky, and if the industry does not enter the stream, it will fail and go bankrupt sooner or later.

In the past 20 days, at least $300 million has been spent on advertising and two-way subsidies for merchants and consumers.

In addition, the massive number of users accumulated over the years made the servers of the world's major sub-stations a bit unbearable before the launch of Double 11.

Fortunately, as the world's largest shopping website, Tesco has divided into sub-websites in different languages in markets around the world. In addition, more than $100 million is invested annually in Internet servers and network bandwidth, and a large number of first-class technical personnel are recruited to continuously optimize and improve the website technology.

Therefore, Tesco can be said to be the website that can withstand the largest traffic impact in the world.

In this era, it is estimated that other websites will be inaccessible for a long time under the impact of such traffic, and technicians will need to work overtime to solve the problem of server failure.

On November 11th, Tesco's global shopping feast has just begun, and within one minute, Tesco has received more than 10,000 orders and a global turnover of more than $3 million.

Among them, Pangu 9th generation computers, more than 1,000 users have paid the final payment. The transaction value of Pangu 9th generation computers alone has received 40% of the order turnover of Tesco.com......