No. 036 Yanjing

Wei Dongsheng concisely summarized Huo Yongshan's thoughts: "So, you want to open an Internet café? ”

Huo Yongshan nodded and admitted: "Yes, I want to choose a site near the first, second, and third highs and open a new Internet café." However, it takes a lot of money to rent a house and buy a computer, and I don't have the money, so I hope you can lend me some. ”

Wei Dongsheng: "Your dividends in October are more than 8 million, which is not enough to open an Internet café?" ”

Huo Yongshan shook his head: "What dividends are not dividends, it is all your money." The core of the equipment trading business is the supply of goods, with endless equipment, fools can be turned into money, I am not eligible to take 30% dividends. ”

Wei Dongsheng comforted Huo Yongshan: "Don't say that, it's your dividends that are your dividends." As the old saying goes, if you are brothers all day long, don't want to make achievements in business. Therefore, it is the principle of partnership and brotherhood, this is the principle of cooperation, and the principle of continuing brotherhood. If the account is wrong, it is wrong, and I will not care about your vague face, so I called you on the spot. In the same way, let's talk about things, auditing is one thing, dividends are another, you don't have any worries. ”

Huo Yongshan heard his brother's statement of settling accounts, and his knot eased slightly, but he still insisted on not sharing 30% of the dividends.

Wei Dongsheng knew a little about the common sense of capital operation, and he was not willing to simply and rudely divide the money on the spot, so he made a suggestion: "Since you don't want to withdraw money, the remaining dividends will be invested in my new round of entrepreneurship." Your dividends in September and October, after deducting the fragmentary embodiment, the remaining 10.698 million yuan, I will allocate you another 698,000 yuan to set up an Internet café, making up an integer of 10 million yuan. However, there is one thing I must make clear in advance that my new venture will be in the sun, all processes must be law-abiding, and the initial investment must be clean. Your 10 million yuan must be laundered into white money through a certain channel before you can invest in my new round of entrepreneurship. For the sake of safety, the 10 million yuan must be selected as the safest means of money laundering, and 30% of the cost needs to be deducted. That is to say, the dividend of 10 million yuan is converted into the actual investment amount, which is only 7 million yuan. ”

Huo Yongshan did not understand the money laundering process, and on the other hand, he was unwilling to accept dividends beyond his ability, so he simply let Wei Dongsheng dispose of it as he pleased: "I have communicated with other Internet café owners on the Internet, and I heard from them that Internet cafes in big cities have been replacing LCD monitors in the past two months. In the future, my Internet café will keep up with the pace of the times, not a CRT monitor, all of them will use LCD monitors, and be the first LCD Internet café in Wuping County. LCD monitors are more expensive than CRT monitors, but they are also limited, and they don't cost 700,000 yuan at all. ”

Wei Dongsheng: "Let's make up 7 million integers for easy calculation." ”

Huo Yongshan may feel that 700,000 is not as exaggerated as 10 million, so he didn't continue to insist: "Okay, I'll keep the rest of the money for you." ”

Wei Dongsheng absorbed Huo Yongshan's 7 million yuan dividend into a new round of venture capital, and then his brother calculated Huo Yongshan's share in person: "You contribute 7 million, I contribute 21 million yuan, the initial capital is 28 million yuan, and one yuan is converted into one share, that is, you own 7 million shares, accounting for 25%; I own 21 million shares, or 75%. My initial business plan is to operate my online game like the legend of Chen Xingtianqiao's operation, and I will definitely introduce other partners to fill the lack of sales channels and operation channels, and the specific share ratio will definitely change accordingly. However, I can assure you that your shares will be non-dilutable shares. ”

Non-dilutable shares, is a financing term.

Many people have a wonderful misunderstanding because of the literal meaning, thinking that undilutable shares are a weapon for civilian entrepreneurs, and fantasize about being reborn in 1999, investing 5 million yuan in Tencent, asking for 40% of the shares, and signing the non-dilution clause. Then, no matter how many investors come over, whether they are waving $20 million or $100 million, their own shares will always be 40%, and they will sit back and grab hundreds of billions of dollars in Tencent's future market value.

This kind of thinking is a dream.

Daydream.

Don't dilute shares, that's not how it is played.

Even if the resurrected used their legal knowledge, took advantage of the equity loophole to sign the so-called 40% no-dilution clause, and then faced with a $100 million financing, they insisted that they must maintain their 40% stake, ignoring the advice of the board. If this happens, the result will certainly not be investors and management giving in. Instead, the original shareholders and management exhausted your $5 million investment, hollowed out all of Tencent's fixed assets, and then resigned en masse and brought in $100 million in investment to form a new vest company. While the original shareholder runs the vest company, he uses the legal lawsuit to exhaust your capital, and when the reborn is in dire straits, he will reverse buy Tencent at a low price.

The capital market is not a pure white sheep, and even if the law allows the so-called never dilution, the capitalists will never obediently abide by it.

As long as you want to raise money, as long as you want to go public, equity dilution is inevitable.

The so-called non-dilutable usually refers to the non-dilutable interest. For example, in the first round of financing, the valuation of the startup company was 100 million yuan, and an investor signed a 10% non-dilutable clause; During this period, the startup team played badly, and when the second financing was raised, the startup company was only valued at 60 million, and then the so-called non-dilutable clause would take effect. The non-dilution clause only protects the legitimate profits of investors, only protects investors' investments from being maliciously diluted, not protects the greed of a fat man in one bite, and will not protect you from grabbing 100 billion US dollars in output value with 5 million yuan, which is the unspoken rule of the investment community.

Therefore, the four words "do not dilute" are not as wonderful as imagined.

In most cases, though, it sounds great.

For example, Huo Yongshan at this moment.

Hearing the four words that cannot be diluted, although Huo Yongshan didn't understand what was going on, he felt that Wei Dongsheng was really righteous enough.

After appeasing Huo Yongshan to reduce the probability of a fire in the backyard, Wei Dongsheng rushed to the Panyang City Railway Station at the right time. In 2002, there was no high-speed railway, and the journey from Panyang City to Yanjing was far away. Fortunately, this is not the peak season for passenger transportation, Wei Dongsheng arrived at Panyang Railway Station at half past six in the evening, and he can easily buy a soft sleeper for the eight o'clock train in the evening.

After fourteen hours, Wei Dongsheng arrived at Yanjing West Railway Station tiredly. Wei Dong lived in Yanjing for many years in his previous life, but most of his impressions of Yanjing were the scenery and people after 2010, and he suddenly came to Yanjing in 2002, which was different everywhere. For example, Wei Dongsheng and Ji Susu's Line 13 subway, which will often travel in the future, has just been opened for trial operation on September 28, 2002.

I slept with my head covered in the hotel and woke up at nine o'clock in the evening. Wei Dongsheng turned on PoerBook_G4 laptop, and the network verified the connection of intelligent life cyanobacteria, green algae, and orange algae thousands of miles away, and ordered them to shuttle through various networks in Yanjing City to collect basic intelligence information.

The Sixteenth Congress of the Workers' Party was held from 8 to 14 November 2002 to elect a new leader. The contemporary leader of Jing Minqiang's wife's family, Gong Qixing, was successfully elected to the cabinet, although he was not one of the nine powerful elders, he was also one of the twenty-three elders second only to them. The 32 elders of the cabinet are the top political club in China, and every seat should not be underestimated, and the elected cabinet and the unelected cabinet are definitely two concepts and two lives.

Gong Qixing competed head-on for one of the 32 places, and Jing Minqiang and other friends also gathered in Yanjing to act as logistics personnel to solve some unnecessary troubles in a timely manner. Before Gong Qixing entered the cabinet, Jing Minqiang did not dare to relax for a moment; After Gong Qixing entered the cabinet, he had to bow his head and listen to Gong Qixing's teachings, and firmly remember which interests could be fought for and which interests must be given up in the future.

Jing Minqiang's disapproval of the Gong family means that the Gong family is unwilling to invest political and economic resources for him, and if Jing Minqiang dares to disobey Gong Qixing's national strategic layout of a game of chess, it is not a question of whether to be seen or not. Jing Minqiang is a big man in the eyes of others, but in the Gong family's national chess layout, he is just a chess piece that can exchange interests at any time, and he must unconditionally sacrifice himself to serve Gong Qixing. At the end of November, the new five-year layout of the Gong family was adjusted, and Jing Minqiang really had his own free time.

This is also the reason why Wei Dongsheng came to Yanjing at this time.

It's too early, and it's useless.

Wei Dongsheng previously ordered blue-green algae to invade the headquarters of Huaguo Netcom to find clues to Jing Minqiang, and immediately invaded Jing Minqiang's commonly used desktop computers and laptops. Jing Minqiang's computer and mobile phone were monitored by cyanobacteria in time every time they connected to the Internet, so his itinerary was firmly in Wei Dongsheng's hands. The schedule shows that if there are no accidents, Jing Minqiang will go to the headquarters of Huaguo Unicom on Xidan North Street in Xicheng District tomorrow to deal with some trivial matters.

Wei Dongsheng re-investigated the information of Huaguo Unicom's headquarters and found that Huaguo Unicom's headquarters had just moved to No. 133 A Xidan North Street in early October, and many of the information materials were not perfect. Wei Dongsheng complained that there was really little information on the Internet in 2002, so he went to bed early that night and woke up early, rented a car and lurked near the headquarters of Huaguo Bank next door in advance. Cyanobacteria used the base station positioning system to monitor Jing Minqiang's location in real time, and when Jing Minqiang drove to Xidan North Street, and saw Jing Minqiang's familiar face, Wei Dongsheng quickly got out of the car with his laptop and adjusted his pace to hang Jing Minqiang far away.

Estimating that the time was almost enough, Wei Dongsheng suddenly picked up his speed and ran into the building.

Naturally, the security guard would not ignore it, and the card blocked Wei Dongsheng: "Sir, we need to register here." ”

Wei Dongsheng ignored the security guards and shouted at Jing Minqiang's figure, "Third uncle, wait for me." ”

The security guard was stunned.

Wei Dongsheng was dressed and holding a shiny PoerBook_G4 laptop, which was obviously not a blind stream that could be taken down by coercive measures. Moreover, the people who accompanied Jing Minqiang were all company leaders, and Wei Dongsheng's third uncle shouted with confidence, and the security guard couldn't help but hesitate for a short time. It was thanks to the slightest hesitation of the security guard that Wei Dongsheng bypassed his obstruction and rushed into the elevator after Jing Minqiang and others.