Reborn Entrepreneurial Giant

The only way for e-commerce platforms to deal with low prices is low prices. In fact, Qu Li had already given Dadongzi the way to deal with it, but he didn’t pay attention to it. Now that he has been defeated by Taobao, he can finally “listen” seriously.

"The essence of the Jufactory model is to get rid of middlemen to earn the difference, direct sales from manufacturers, and official certification of Juhuasuan..." Qu Li explained, hoping that Dadongzi would listen to it

"Juhuasuan is originally a group purchase. This is still valuable. It can be enriched in forms, such as limited-time flash sales, daily specials, etc. What I want more is that you can create more hot items: it can be your team's "special offer" ; It can also be operated by the seller actively; or the buyer's own choice..."

"The more hits, the stronger the reproducibility, and the more sellers who choose us, it's like gambling. There are always people who are willing to fight for a chance of one percent, one in ten thousand, but we must ensure that Its impartiality..."

Qu Li once again talked about the idea of ​​​​explosive models, severely cracking down on the behavior of brushing orders and praise and cashback, and giving more free traffic support to products that sell well and have high reviews, and cannot delegate power to the operation team, but to the recommendation algorithm.

The e-commerce operation team has a lot of rights to the platform, just like the editor of a certain website can recommend to the author, and every recommendation can bring benefits, but unfortunately, there are almost none. Qu Li did not believe in the "integrity" of the Jumei team. Dadongzi said that if a company cannot find corrupt personnel, it means that the company has a big problem and is about to die.

The main reason why corruption is difficult to eradicate is that the cost of breaking the law is too low, or the system is flawed, making it difficult to find problems in a short period of time, so some people will become more and more courageous and regard the rules as nothing.

No matter how good the algorithm is, it needs people to implement it, so many problems can only be alleviated, but there is no way to cure them. It still depends on the internal governance system of Jumei.

After chatting with Dadongzi, Qu Li, Lu Qi, and Xu Xiaoqin discussed these issues: institutionalization, process, and power checks and balances: "Jumei now has enough talent reserves, and we have a group of very good..."

Da Dongzi, Xu Lei, Huang Zheng, Lin Bing, Wang Jian, Xu Xiaoqin (Personnel), Zhou Ting (Logistics), Bian Liang (Finance), etc., as well as rising "newcomers" such as Jing Xuwen.

Qu Li is willing to establish a partnership system similar to Ali, which will increase the rights of Jumei's management team and reduce investor interference, so that everyone can better balance the short-term interests, long-term interests and social value of the company.

These things are not urgent, including e-commerce operations, which are not Qu Li's main concern. At this stage, Internet finance and mobile payment are the absolute focus of the company.

Three months ahead, Jupay's Yu'ebao is still overtaken by Ali Cashbao. Of course, Jupay's user scale and frequency of use are not as good as Alipay's, but is there no problem with the Yu'ebao team?

"Where did we lose? Propaganda, user experience, rate of return?" Qu Li came to Jumei Financial Service Department, and is still working in Yangcheng, and did not go to Pengcheng, where he was registered.

Ari and Jumei have tried a lot of financial innovations in the past few years, such as virtual credit cards, but unfortunately they were all canceled by the relevant departments. The specific reasons and reasons are unknown, probably for the sake of financial stability.

It’s not that Ari couldn’t think of the Yu’ebao model. They were initiated from the bottom up by outsiders, so the speed of advancement was a bit slower. Jumei’s promotion was from top to bottom, perhaps with insufficient subjective initiative.

Qu Li chatted with the Jumei Financial Services team one by one to understand their ideas. In addition, he also communicated with people who have worked with Xiangjiang Fortune and Vision Fund to see who has ideas.

Soon a candidate jumped out. Du Jiuming, who was in charge of the Changjiang storage project at the beginning, was the one who found a balance among Feisuo Semiconductor, Wuhan Xinxin, Vision Fund, Qimonda, and SMIC. Relatively independent, owns a wafer factory, and is a Changjiang storage company that focuses on flash memory.

Originally, Du Jiuming also wanted to promote the establishment of a memory company, but the technology is more sensitive. The well-informed people know that the relevant departments are going to launch a large fund, and the prospects and money are intertwined. His background is not deep, but "outstanding" people become A thorn in some people's eyes, was excluded.

Du Jiuming took Zhu Yiming, the CEO of GigaDevice, a subsidiary of Spansion Semiconductor, to find Qu Li, planning to break away from Vision Fund and Changjiang Storage System and set up a separate company.

"Infineon has sold Qimonda's patents on DRAM memory to us in a package. There is no problem with the technology and patents. The main lack of funds and policy support..."

"But I can't support you anymore." Qu Li said very bluntly: "Honor has a lot of interests overseas, and the US doesn't want me to invest in sensitive industries, especially semiconductors."

Qu Li indirectly controls Spansion Semiconductor and is a major shareholder of Infineon. Under his will, Changjiang Storage was established and acquired the domestic team and assets of Qimonda, a semiconductor company ranked among the top 10 in the world at the time. Later, it was said that SMIC was reorganized...

Although Qu Li has not been involved in semiconductors, this industry is full of his legendary stories. In addition, the financial industry, many people speculate that if it is not for the special domestic environment, Qu Li may set up a consortium similar to Japan and South Korea.

It's a pity that a few years ago, there were "experts and scholars" in China who suggested learning from Japan and South Korea and cultivating a consortium similar to Samsung, but now this voice is getting smaller and smaller.

"Tianming, can you give us some advice?" Du Jiuming briefly introduced some situations. There are quite a few people who are eyeing the big fund. If you really want to be entangled by some people, it is likely to delay more time.

"You can establish a memory company in advance, but you have to make a choice. It's best to find a backer for yourself." Qu Li

"Backing?" Zhu Yiming and Qu Li had little contact, did they?

"A local government that has courage, dares to take risks, and can give you opportunities."

"Oh I got it

If you want to do big things in the country, except for rebellion, you have to avoid it. It is almost impossible to bypass the relevant departments. It is necessary to be close to the court and the organization, but you must stay away from politics when Wanda Pharaoh said it.

Qu Li warned and introduced Zhu Yiming to Huizhou Hefei, while Du Jiuming exchanged with him some views on Jumei Financial Services: a fully licensed financial service platform must have its own bank and credit reporting system.

This opening, Qu Li knew it was there. Because of the rapid development of products such as Yu'ebao, the four major banks have begun to limit the amount of third-party payment. defense ability.

As for credit reporting, it is even more important. Jumei has a multi-dimensional data foundation and can establish a more reliable credit rating score than Ant Credit. Huabei Borrowing is based on personal credit.

Sure enough, people are different, Qu Li finally chose Du Jiuming. (end of this chapter)