Actually I just want to act

Chapter 686 Board Settings

Regardless of Google's external publicity, Page and Brin still own the controlling stake in the company, but in fact, Page holds about 5.8% of the shares, and Brin holds about 5.6% of the shares. Without equity, there is no way to control the company.Because the equity added up did not reach 12%!As long as the other major shareholders unite, it is enough to overturn any decision of the board of directors.

Even through the algorithm of AB shares, the two founders of Google cannot do other major shareholders.

This kind of Google is the Google that Ying Jiang wants.

The battlefield of capital is like this.

When you exchange financing for the development of the company, you have to accept the risk that the company may be stolen.

"There is another condition that is very important, the right of veto." Fang Jiming said seriously, "When the company under my name raises funds, I will include this condition in the agreement. Some venture capitalists do not accept it, so They backed out, but I'm determined to take the leadership down, there's no room for negotiation."

Fang Jiming is very clear that Kalanick, the Uber founder of Yingjiang's family, was eliminated in this way in his previous life.Kalanick also once held up to 40% of Uber's voting rights and once controlled Uber's board of directors, but Uber continued to encounter scandals before going public. Institutional investors worked together to force Kalanick to make concessions step by step: reorganize the board of directors and limit voting rights , stepped down as CEO, left the board of directors, and finally completely out.

So, don't blindly raise money for the benefit of the moment, you may suffer unexpected setbacks - completely lose your company.

"One veto right? Can someone give you financing!"

Gu Hongye was a little shocked.

Fang Jiming smiled and said: "Of course some people are not happy. But, if the board of directors sets up a veto right, then whoever owns more shares must have the initiative. For example, your voting power is greater than any There are many shareholders, how can you not have a veto! Of course, you can't let go, once you let go, the board of directors will not listen to you. "

This board of directors is actually the biggest loophole of a listed company, but it doesn't work without it.Especially once the founder leaves the board, you have nothing but equity dividends.Let alone a veto, even the right to vote must be compromised.This is why Google will be controlled by other major shareholders, and why the founder of Uber left sadly.

Because it's useless for you to hold voting rights, people together have more voting rights than you.

Therefore, the battlefield of capital sees no blood, but is deadly.

"So, this board of directors has to be a director all the time?"

Gu Hongye came to a realization.

Fang Jiming nodded, and said, "A man should not be powerless for a day. After you leave the board of directors, you won't even be a man. How can you still have power?"

Gu Hongye sighed, and said after a long time: "This game of capital is terrible!"

"So you need to worry about financing. As long as I don't agree with you, you don't have to shave your head and sign the basket. As long as you can make a profit, it really doesn't matter whether you raise money or not. The listed companies I have seen, withdraw I don’t know how many are on the market. I have seen many companies that have not been listed, and there are many companies that have lived for more than a hundred years. Whether they are listed or not depends entirely on the needs of the company’s development. Of course, if you want to make money, that’s another story.”

What Fang Jiming said was reasonable.

The capital market is unpredictable. There are not a few large companies that were prosperous last year and will go bankrupt and delisted the next year.The development of the company depends on the strategy and the profit model, not the only way to use investors' money.

"I understand the truth, but who can resist the temptation to go public?"

Gu Hongye sighed, and said: "My parents are looking for listing, and in their perception, as long as they are listed, the company will not go bankrupt."

"No, I heard you mention this news from the year before last, and it hasn't been listed yet?"

Fang Jiming was overjoyed, "What's the point of going to the market, I can sleep well."

"It's mainly because of Shangmei Group. The composition of shareholders is a bit complicated. Some shareholders have been buying the shares of other shareholders and want to challenge the shares held by my parents." Gu Hongye said with a wry smile, "As you said, there is no setting of AB voting rights."

Fang Jiming said, "Look, is there a conflict? So, your parents are also repurchasing shares?"

"Because there is no such clause in the agreement, it is very difficult."

Gu Hongye sighed, and said, "Fortunately, my parents still have more than 40.00% of the shares together. Otherwise, the company would really change hands."

"So I always say that a company's financing red line is 30%, the second round is 15%, and the third round is 10%. After these three rounds of financing, it is necessary to negotiate with other shareholders to reduce their holdings. Will they be happy?" Fang said. Jiming said seriously, "If you haven't done a good job in the long-term development strategy of the company, how can you work hard in the market?"

"It's mainly a battle of ideas."

Gu Hongye said, "My parents are optimistic about hotels and real estate, while other shareholders think there is still a future for textile and clothing."

Fang Jiming thought for a while and said: "I can't comment on which one is more promising, but in any business, it is better to be familiar with it than to do it. The traditional industry may not make money, but the money may not be much. Textile and clothing are food. Labor force, although our country is still in the demographic dividend period, soon, other developing countries will come to share a share. Therefore, textile and clothing can only continue to go to the middle and high end. As for hotel real estate, it is also Eat demographic dividends.

Don't look at me in surprise, it's true.

How many Chinese people buy houses for themselves?Isn't it for the children to go to school?

In the future, the cost of raising children in China will be high. Even if the second or third child is allowed, some people may not be willing to have children.There are even fewer children, who will sell the real estate to? "

Gu Hongye was taken aback: "Then what should I do?"

"real estate."

Fang Jiming smiled.

"???"

Gu Hongye was dumbfounded, "Didn't you say no?"

"It's okay for the next 20 years, but after that, we have to restructure." Fang Jiming said with a smile, "The demographic dividend always has to reach its peak before it slowly declines! It hasn't even reached its peak yet."

"People are also you, and ghosts are also you." Gu Hongye laughed.

Fang Jiming laughed loudly: "As long as I round well, there is no time for mistakes."

"Come on, just fool around." Gu Hongye shook his head, and said, "I don't want to listen to my parents either, let them judge. I can do my comics well enough for me to work on."

"Don't learn from me."

Fang Jiming smiled wryly and said, "I'm a little scared now, otherwise, the companies under my name would not have supervisory departments. There is no supervision, it's really not good. You can't believe this human nature."

"Well, we still need to be vigilant about internal corruption and corruption." Gu Hongye said in a low voice, "Shangmei Group is like this. There are too many relatives on my parents' side, so it's hard to manage! Some people ask for cards, but you don't." way to deal with it.”

"Cut the mess quickly." Fang Jiming said seriously, "Otherwise something big will happen sooner or later."

"Oh, I can't wipe this face off!"

(End of this chapter)