Yanzi Valley of Jingcheng

Chapter 203 Yan Li's Philosophy

"How good your soil is now. When we first started, we only had an old wooden table bought from a second-hand furniture market, a few people, a few old computers, and the company's security and cleaning were all done by ourselves. Jin Quan was like this at that time. .”

In the large conference room of the Qingyang branch of Jinquan Investment Group, the person who is speaking to the employees at this time is Yan Li, the founder, chairman and president of Jinquan Investment Group.

When Yan Li founded Jinquan Investment Group, China had just joined the World Trade Organization and the economy was growing rapidly. Yan Li believed that China's urbanization, industrialization, and Internetization would have great potential, so he established an investment company at that time, with a heavy stake in China. This move is undoubtedly a 100% correct decision for the venture capital industry.

Michael Porter, a professor at Harvard Business School, divides a country's competitiveness into four stages in "National Competitive Advantage":
1. Orientation of production factors: relying on cheap labor and mineral resources to develop the economy;
2. Investment orientation: large-scale production capacity expansion stage dominated by government investment;
3. Innovation orientation: relying on scientific and technological progress to develop the economic stage;

4. Wealth orientation: Through the operation of financial capital, wealth is created, the people are gradually rich, and society gradually emphasizes fairness rather than efficiency.

At that time, the first three phases of China started almost at the same time, the market had a huge room for imagination, and the whole country was in the golden period of investment and seeding.

Yan Li and his team were also novices at the beginning, with no one to teach and no one to take care of them, so they could only try their best to develop their business while studying hard by themselves.

Because they could not get considerable investment in China, Yan Li led his team to go abroad to find funds. They told foreigners one after another beautiful Chinese stories. The Chinese stories that Li told in the past have changed from fantasy to reality, and more and more money from domestic investors is included in Jin Quan's capital composition.

What Yan Li has always emphasized in the company is: "We want to thank this era, when the water is big, the fish can be big."

At this time, Yan Yan was sitting at the head of the meeting room, Xiao Jie was next to him, Ma Yu and all other investment directors, deputy directors, managers and analysts were present, because there was no room for the meeting table, everyone moved the chairs by themselves The conference table was tightly surrounded by two or three circles, and it was difficult for those sitting in the inner circle to go out and use the bathroom at this time.

"When I founded Jinquan, it was the age of your President Xiao." Yan Li said, looking at Xiao Jie, "I called my old classmates at that time, but they were hit by walls everywhere. None of them were optimistic about China's venture capital industry. Without funds, there are really no good projects in the market to invest in. Now it’s different. Now you can see three to five hundred projects every year. You can’t choose from the dazzling. Everyone complains about the involution of the industry. There are enough projects, so everyone can roll up, and I didn’t have anything to roll up when I wanted to roll up.”

When Yan Li said this, everyone present laughed, but most of them just smiled knowingly without making a sound.

Yan Li continued: "I admit that there is only one offline brick-and-mortar restaurant in Shanghai, and the valuation of 1 million is indeed a bit abnormal, and the current valuation of new energy is indeed 1 million." Fantasy, but this is not the reason for us not to grab projects. In fact, Jinquan was not a company that won by the amount of funds and price a long time ago. Our ability lies in the ability to integrate resources. How to make 2 plus 3 not only greater than 4 , equal to 7, equal to 10, equal to [-], or even greater than [-], we have to find a way to release the potential of the enterprise through integration."

Yan Li's voice is sonorous and powerful. He is not only a successful entrepreneur, a successful investor, but also a good teacher.

It was Yan Li who taught Xiao Jie:
"After you come in, you have to work harder, even harder than your subordinates, because you have to make sure that you can still see the direction when they can't see the direction. As an investor, you must never stop, otherwise don't do this Okay, once we slack off, we will lose sensitivity, and losing sensitivity is almost fatal to investors.”

At the beginning, it was Yan Li who made Xiao Jie understand that investment is to make money in the future, not to make money in the present. If it is to make money in the present, then basically everything you buy is expensive.

For example, when Tencent’s main product was QQ, Tencent’s valuation was less than 20 billion US dollars, because Tencent was strangling each other with Microsoft’s MSN at that time, and Tencent couldn’t find a way to monetize through QQ, a chat tool. There are indeed many QQ users , the traffic is huge, but the usage time of these users cannot be converted into company income, that is, no cash flow is generated.

Yan Li told Xiao Jie, "Even though Tencent didn't make money at that time, you can see that other people's business cards will have a QQ number printed on them besides the phone number, which determines that QQ should not be understood as a simple instant messaging tool, but rather It should be built as an information sharing platform, voice, video, music, games, transactions and blogs should all borrow from the QQ platform to form a multi-dimensional information sharing matrix, which is a huge business opportunity.”

After listening to Xiao Jie, he summed up a basic investment philosophy: buying things that represent the past is nothing more than consumption. Only those things that represent the future can be called investments.

During the intermission of the meeting, Yan Li has been answering the phone. Compared with Xiao Jie, he has to deal with incoming calls every day. Under normal circumstances, Yan Li can only hold a meeting in silence or simply turn on the airplane mode .

Many people were standing and chatting in groups, eating the exquisite afternoon tea on their plates, while Xiao Jie came to the end of the corridor, leaning against the wall alone and looking down at his mobile phone.

The content of the video account of Shen Li's circle of friends is displayed on his screen, and Xiao Jie doesn't know when he habitually opened Shen Li's circle of friends to view her video account.

A lot of content in the video account is a bit far from Xiao Jie.

For example, the workers on the construction site have done heavy physical work for a day, and the free lunch they eat is only tofu and vegetables, and there is no meat.

For example, the bed room in Yanzi Valley is a luxury for some young people, and those who are more difficult sleep directly under the overpass or on the side of the road. When Shen Li asked them what time do you get up in the morning, those people gave many kinds of answers, but each one All revealing unspeakable sadness.

"What time do you wake up? It's very punctual. I was woken up by the opening of the breakfast shop at three or four o'clock."

"I'm not sure, but I'm often woken up by stray dogs."

"I woke up in the fucking rain yesterday..."

……

Of course, in Shen Li's official account, Xiao Jie can often see Guan Sha.

Guan Sha followed Shen Li to interview the tenants of Yanzi Valley, Guan Sha’s family and landlords were unable to negotiate the lease agreement, Guan Sha, Ren Tianxing, Shen Li, and the girl Guan Zhenzhen who was almost raped in the bed room discussed how to create What it looks like when renting an apartment for a long time...

These shots are not long, because Shen Li has carefully edited them, and some of them are only ten or even a few seconds long, so Xiao Jie has to watch them two or three times after opening them.

(End of this chapter)