Reborn: Billionaire in College

"What's wrong with the brains of those people at Renren? We talked for a long time last time, but we didn't know what kind of fund product they were going to launch. Now we know, and we have to promote our money market fund as well. Their Zero-Balance Wallet is too aggressive."

Jack Ma has been feeling upset these days.

After pushing it for so long, there is some effect, but that's all.

It’s a bit difficult to climb over the WeChat mountain.

But before he could even send the WeChat message, his house was robbed again.

The Zero-Balance Wallet has really hit the weak spot of Alipay.

Previously, Alipay was most proud of its depth and functionality. However, first red envelopes and then Zero-Balance Wallet have been constantly challenging Alipay's position.

"Yes, Mr. Ma, we are moving very quickly. We estimate that it will be launched in July at the earliest. No one had thought about the power of Internet finance before." Peng Lei had a sad face: "This cannot be blamed on any of us. It's really too tricky. Zero-Bill Pass is not targeting us, but rather targeting banks. It is completely targeting banks' demand deposits. Their advertisements keep emphasizing that the yield rate of Zero-Bill Pass is more than ten times that of bank demand deposits, and that it has liquidity similar to demand deposits. You know that banks in China have a superior status."

Being bound by rules, one's vision is limited.

It was hard for Peng Lei to imagine that Chen Pingjiang was so bold as to dare to undermine the interests of the bank.

"Alas!" Ma Yun sighed: "I think it is necessary for not only Alipay, but also Alibaba itself to conduct a deep reflection."

Everyone in the conference room was stunned.

"When we founded Alibaba in 19, what was Chen Pingjiang doing? He was still in primary school. When he founded Renren in 06, Alibaba was already well-known in China. Take Alipay for example. We were many years ahead of WeChat Pay, but how did we end up like this step by step?"

"I have been looking up information in detail these days and have learned about Chen Pingjiang's life. Sometimes the more I read, the more bizarre it becomes. I can't help but ask myself, how can a person never make mistakes, always see through the fog of the market, maintain strong innovation, and change people's lives in many subtle ways?"

"At first, I thought he might be a child of destiny. Both Alibaba and Tencent made mistakes, but Chen Pingjiang didn't. Later, I realized that this might not be his own achievement. How could a young person never make mistakes? How could he have such a long-term vision? How could he manage so many companies at the same time and perform so well?"

"Renren must have talents that Alibaba and Alipay cannot match, their talent selection and reward mechanism must be better than ours, and their management efficiency must be better."

Just like what Lao Ma said.

He is a proud person and feels very uncomfortable because he is always being beaten by WeChat.

As the male protagonist of the cool novel, he does not want to admit that he is worse than Chen Pingjiang, but the facts are before him. Alibaba cannot gain any benefit from Renren, not to mention other companies under Chen Pingjiang.

Later, Jack Ma still felt that the problem lay within the company.

Chen Pingjiang might have the Five Tiger Generals under his command.

Yes, I am not inferior to Chen Pingjiang, it’s just that the people under me are not good enough.

This is the only explanation that makes sense.

Why does Chen Pingjiang always have so many clever ideas and never fail?

This Zero-Balance Wallet project was a huge blow to Lao Ma, and it made him question his life.

He was ambushed again.

This is the second bloody incident today.

If this happens a few more times, Alipay will be in danger.

…………

"At present, our Zero-Balance Wallet has been online for half a month, and the scale has expanded to 3000 billion."

Chen Pingjiang nodded and said solemnly: "We need to do a good job in advertising for each department and try to build up the scale before other competitors enter the market. The days ahead may not be easy."

No one thought there was anything wrong.

This is already the default consensus.

Just look at the previous red envelopes and social games to find out.

There are countless eyes watching Chen Pingjiang in the country. Whatever his company does, others will follow suit.

And it’s not just limited to the internet.

If when Chen Pingjiang first started making Orange mobile phones, everyone was still worried that the physical product would not be so easy to make and did not rush in.

Wait until Xiaomi comes out, and then Orange S3 becomes popular.

Since 2012, more and more major Internet companies have begun to turn to mobile phones.

Countless domestic manufacturers such as Baidu, Alibaba, Tencent, etc. have started making mobile phones.

All of these manufacturers are making low-priced assembled machines.

The Internet thinking is also used.

That is, the mobile phone itself does not make money, but it makes money through services.

However, these people had no foundation and could not provide too many resources to the mobile phone projects, so they all failed in the end.

The same is true for money market funds, it won’t take long.

Big companies like Baidu and Alibaba will follow suit.

The next wave of craze is Internet micro-loans.

The launch of Zero-Balance Wallet was undoubtedly a success.

With WeChat's powerful channels, huge number of users and epoch-making products, it is hard not to succeed.

Zero-Balance Wallet almost replicated the success curve of Yu'e Bao back then, and even performed better.

Because there are so many WeChat users.

If this is still not as good as Yu'e Bao back then, Chen Pingjiang might as well just kill himself with a piece of tofu.

"After Lao Guo and Wang Dengfeng finish their work today, they will take their colleagues from Tianhong back home. Everyone needs to attend the celebration banquet tonight."

The people of Tianhong can now feel proud.

In just half a month, the fund company's asset management scale quickly surpassed Hua Xia Securities and became the number one in the country.

This speed is incredible.

In just 15 days, China Securities has completed more than ten years of development.

The Chinese were beaten so badly that they had no temper at all.

During this period, both Guo Shuqiang and Wang Dengfeng became celebrities in the financial industry.

This feeling is so good, it adds a strong touch to your resume.

"Thank you very much for your cooperation during this period. I never thought that this day would come. This also shows the power of the Internet finance concept proposed by Mr. Chen." Guo Shuqiang said with emotion.

This period of time seemed like a dream to him.

If we say that the financial market before the launch of Zero-Balance Wallet was the agricultural era.

So now finance has officially entered the industrial age.

It is simply terrifying that a fund has expanded to 300 billion in just half a month.

I would never have dared to think about it in the past.

In just these ten days, Tianhong not only turned losses into profits, but also earned 2-3 million yuan in revenue, and the revenue will increase more and more in the future.

Tianhong is happy, and the shareholders behind Tianhong are also happy.

The feeling of being carried away by the thighs is so fucking great.

I don't know what they have been doing for the past ten years.

Losing money every year.

As a result, after relying on Chen Pingjiang, most of the previous losses have been recovered.

Even stocks rose more sharply.

Previously, China Ordnance Finance and Tianjin Trust had been clamoring to sell their shares, but at that time, no one was willing to take over.

Now he doesn't yell anymore.

I won’t sell it to anyone!
Because it smells so good.

Wang Dengfeng is extremely proud of his original decision.

Fortunately, I changed jobs here.

If he had refused at that time and Zero-Balance Wallet had succeeded, he would probably have regretted it to death.

Chen Pingjiang nodded: "But don't take it lightly. This is only a short-term success. I have enough reason to believe that once Internet giants such as Alibaba join the battlefield, the interest rate war will begin. At that time, the competition may be about interest rates."

Yu'e Bao itself offered an annualized rate of 2014% in 6.7.

Now that Alipay is the follower, Chen Pingjiang has reason to believe that Ma will expand the scale even if it means not making any money himself.

It won’t be difficult to break 7%.

It is even very likely that those major Internet companies will break 8, or even subsidize it to break 9.

They can do this.

As for Chinese companies, it is their inherent gene to thrive and fail, and this cannot be seen anywhere else in the world.

…………Another half a month passed.

In the past half month, Zero-Balance Wallet has been expanding its market madly.

This scene made other companies extremely anxious. How much money would they lose if they entered the market one day later?

When Zero-Balance Wallet reaches a trillion-dollar scale, they can only get some soup if they enter, and there is no hope of getting any meat.

It takes time to find a fund company to cooperate with and to create a fund model.

They could only watch as Zero-Balance Wallet took off and more and more funds flowed into the market.

In just one month, the scale of funds has exceeded 6000 billion.

Countless people are jealous of it.

The internet is flooded with positive reviews.

No one has trouble with money.

Li Liang not only put all the 200,000 yuan he had saved for more than ten years into the Zero-Balance Account, but also borrowed 300,000 yuan from his parents and deposited it as well.

Every day when I open and close my eyes, dozens of dollars will be deposited into my account.

2500 yuan per month.

It perfectly covers food and drink, greatly improving the quality of life while also saving money.

So delicious.

There are many people like Li Liang.

It’s really addictive to look at the extra numbers in my account every day.

Some people don’t have enough capital, maybe only a few dollars a day.

But when I think about the fact that I got it for free, I feel great.

"Ah, life like this is so great. Why would I go to work? The income from my Zero-Balance Wallet alone is enough for me to spend."

"I'm planning to retire."

There is a discussion section for Zero-Balance Wallet on Renren.com.

Every day, people post screenshots to show off their earnings.

The style of painting was relatively normal at first, but it has gradually deviated recently.

such as:

Someone posted a photo showing that he bought 1000 million Zero-Balance Cards.

The single-day profit reached 1640 yuan.

There is so much money, I really can’t spend it all!
Some curious people even found the screenshots from somewhere.

He directly showed off an account with 200 million yuan in funds.

Single-day profit of 32800 yuan!
Just silence the netizens in the forum.

"Shit, is this picture photoshopped? Why don't you put so much money in a bank deposit? The returns should be much higher, right?"

"You don't understand. All you want is convenience. When the returns are similar, unlimited funds are the most attractive."

"Our small company does not have strict financial management. Now I ask customers to deposit the money directly into my own account after receiving it. I get free income from Zhengda Guangming and save money on takeout every day."

"After hearing about this, my 80-year-old grandmother asked me to help her with her financial management."

"..."

Quick in and quick out, no matter how much money you have, you can buy it all at once, lowering the threshold for financial management to the lowest level.

Think about how many people in China don’t have much money, don’t like to make fixed deposits, and have never been exposed to financial products.

In the past, they had no concept of financial management and would not buy stock funds.

But now, these people have a new channel for the funds they hold.

In this case, how can the money not come in quickly?
Oh?
It turns out that there is such a simple and easy way to manage finances in this world.

As long as you deposit money, you can get stable returns?
What's even more amazing is.

Renren employees support their own products and just buy them.

Alibaba employees are also buying it.

This situation is widespread over a large area.

Even if Lao Ma knew, he could do nothing about it.

How dare he say no?
You'll be drowned in saliva.

Li Xi knocked on the door and walked into Chen Pingjiang's office: "Mr. Chen, there has been a bad trend online recently. It seems that our products have caused dissatisfaction among many banks and infringed on their interests."

Chen Pingjiang was not surprised at all: "Haven't we anticipated this a long time ago? What's so strange about this? Can't we just let people scold us for ruining their business? As long as the relevant departments don't come to look for me, I'll be fine."

How could the bank not complain?

Not only did their current savings get sucked away by Zero-Balance Wallet.

The funds are still sold directly through WeChat.

This is another kind of destruction.

You have to know that in the past, funds were sold through banks.

Channel fees can reach 3% at certain times, which is considered a major source of income for banks.

It makes these banks jealous.

Okay, okay, this is how you all play, right?

Fund companies no longer want to play with me. They all go to Internet companies to play with me, trying to get rid of me.

Then I will make my own mobile banking app and sell funds on the app.

For a time, each of them showed their magical powers.

"We will bear any pressure first. We have not violated any rules, so there is nothing to be afraid of. When Alipay and others join the game, more people will come to share the pressure."

Chen Pingjiang has a clear mind.

He is not worried at all if only one or two banks come to cause trouble.

Unless it comes from the upper level, but this situation almost never happens.

Anyway, he had no intention of doing the same as Ma, holding a meeting to criticize banks and finance and forcing the industry to change.

Chen Pingjiang knows clearly what he is capable of. He keeps a low profile when necessary and never shows up when necessary.

Just let Jack Ma take the limelight.

"Mr. Chen, P2P has become increasingly popular recently. Can we give it a try?"

Chen Pingjiang looked at Li Xi suspiciously: "Are you talking about online loans?"

"Ah."

“Forget about online loans.”

Chen Pingjiang didn't want to touch this thing.

Because he himself was a victim back then.

I was suffocated by the high interest rates and was put on the credit blacklist due to inexplicable loan withdrawals.

All in all, it was a very unpleasant memory.

I didn’t expect Li Xi to bring it up now.

Li Xi was a little puzzled: "If we don't do it, Alipay and others will do it."

Chen Pingjiang waved his hand: "Let them do it, we won't do it anyway."

The history of online lending can be traced back to P2P, which is peer-to-peer online lending.

The lender gives the funds to the loan company, which then lends them out.

In 07, China’s first P2P Paipaidai was launched.

It's just a limited network, and the development is average.

Rapid expansion began in 12-13, and some small companies have already begun to collapse.

Then it enters a period of wild growth from 13 to 16.

All companies, big and small, are entering the market! (End of this chapter)