Chapter 188 Zhang Yiming, you've taken a wrong path! (Seeking monthly votes)
At ten o'clock, Cheng Weixing came on stage, gave a brief opening speech, and then handed the microphone to Secretary Wei, who was in charge of the commercial sector in Hangzhou.
Then, a middle-aged man in an executive jacket walked to the center of the podium and began to speak at length on the theme of this exchange meeting.
Chen Yansen felt sleepy after listening to it. After all, it was all empty words and clichés with no substantial content.
The subsequent promotion of economic and trade cooperation projects and luncheon exchanges are the core processes of the development forum.
“…I am honored to invite Mr. Chen Yansen, the founder of Sunlink Capital. As a leader of post-90s young entrepreneurs, I am looking forward to his experience sharing. I hope Mr. Chen can provide new cooperation opportunities for entrepreneurs at home and abroad…”
Secretary Wei spoke eloquently and at the end he did not forget to single out Chen Yansen and emphasize him separately, regarding him as a major selling point of this Youth Entrepreneurs Development Forum.
Chen Yansen smiled politely towards the media cameras, thinking in his heart: If I hadn't come, you would probably use Jumei Youpin's Cheng Ou as a gimmick.
I heard that the conference had originally invited Wang Xin from Meituan, but he didn't want to attend. He was afraid of offending the city of Hangzhou, so he said that he was born in 1979 and did not count as a post-80s generation.
After talking about Chen Yansen, Secretary Wei turned the topic to Lin Qi, the chairman of Youzu Interactive.
Chen Yansen followed the gaze of the crowd and realized that in addition to Cheng Ou, there was another gaming businessman with a higher net worth.
According to Secretary Wei, Youzu Interactive's current valuation is 3 billion. Even if it is a bit exaggerated, it is probably not too much of an exaggeration.
After all, these people in the audience are all shrewd people, and bragging will only backfire.
The third person named was Cheng Ou. This guy waved at the camera and was very good at seizing every opportunity to promote himself and his products.
He felt that Chen Yansen’s words “I represent myself” were very consistent with his personality and the tone of Jumei Youpin.
Unfortunately, Chen Yansen is too famous, and he doesn't dare to directly imitate the other person's character, otherwise he would be suspected of imitating others.
Zhang Yiming, who was in the corner, had a look of envy in his eyes.
As young people, they have failed in their own business many times, while people like Chen Yansen, Lin Qi and Cheng Ou have already become famous in the circle and earned billions of dollars.
When will I be able to earn 100 million? Half an hour later, Secretary Wei walked down the stage to applause.
Afterwards, people came on stage one after another to share their entrepreneurial projects. The more high-end ones were concentrated in investment banks, securities companies, electronics or Internet industries, while the more down-to-earth ones opened dumpling factories, ecological breeding farms and the like in their hometowns.
Sequoia, Hillhouse Capital and Siwei Capital also sent investment managers, but they were of lower level and it was obvious that they did not attach much importance to this exchange meeting and were just trying to give face to the organizer.
While Chen Yansen was talking to Lao Gao, Cheng Weixing from Pancheng Technology came over and said:
"Mr. Chen, after Mr. Cheng from Jumei and Mr. Lin from Youzu Interactive finish sharing, can you share your entrepreneurial experience with us? Just chat for ten minutes."
"No problem." Chen Yansen nodded slightly.
Now that they are here, they naturally have to promote their products and at the same time earn some face for Tang Qingshan.
"Hello everyone, I am Cheng Ou from Jumei. I am very happy that the Hangzhou Young Entrepreneurs Association invited me to participate in this development forum. As a vertical beauty website, Jumei has captured the hearts of users with exclusive services such as 100% authentic products, 100% real photos, and 30-day unconditional returns..."
It has to be said that Cheng Ou has great eloquence. He took this opportunity to talk about Jumei Youpin's business model.
"What do you think of Jumei, Lao Gao?"
Chen Yansen looked at Gao Weilin and asked with a smile.
"There is potential, but I think vertical e-commerce websites like beauty, maternal and child products, and shoes are all fake demands. Except for some niche categories, there is still a certain space for survival. For beauty, once Taobao, Yidong or you, the boss, target it, Jumei will have no way out."
Gao Weilin responded in a low voice, his tone firm.
During his time in the mainland, he conducted in-depth research on the e-commerce and mobile phone industries.
Vertical e-commerce seems to have chosen the weakest link of industry giants, avoiding their edge and competing with them.
But how could Ma Liyun and Liu Qiangdong tolerate anyone competing with them for the market?
Once Ali and Yidong go public, e-commerce websites like Jumei will enter a countdown to death.
In fact, Jumei’s market value began to plummet and continue to decline after reaching a peak of nearly 6 billion US dollars in 2014.
The same facial mask product is sold by Jumei at 99 yuan per box, supplied by third-party channel dealers, while Taobao and Yidong directly contact the brand, with a promotional price of only 59 yuan or even 49 yuan per box.
In addition, Jumei's control over suppliers is weak, and some people forge documents such as brand authorization letters and customs declarations, and sell genuine and fake products together, or simply sell all fake products, causing Jumei's image in the minds of users to plummet.
Before Chen Yansen was reborn, Jumei had already been bankrupt for five or six years.
“For beauty products, it is difficult to eliminate counterfeit products unless you work closely with the brand.”
Chen Yansen nodded, agreeing with Gao Weilin's words, and told Song Yuncheng at the same time.
Why, when so many S and A-level third-party merchants approached Pinbei, Chen Yansen asked the investment, legal and marketing departments to jointly review their qualifications, and directly rejected them if there was any problem.
If Pinbei fails to deal with the problem of counterfeit goods at the beginning, it will be difficult to reverse the situation once the scale becomes larger.
You can sell low-priced goods, but fake goods are different and can easily cause the platform to go bankrupt.
Song Yuncheng, who was standing by, seemed to understand after hearing this.
More than ten minutes later, Cheng Ou returned to his seat with a feeling of unfulfilled desire. The next person to take the stage was Lin Qi from Youzu Interactive.
Chen Yansen knew little about the gaming industry and only invested RMB 2 million in Mihoyo in exchange for a 15% stake.
After Lin Qi came down, Cheng Weixing hurriedly walked up to Chen Yansen and reminded him that he could go on stage.
Chen Yansen straightened the wrinkles on his clothes and then went up to the podium.
There were some whispered discussions at first, but they disappeared instantly after Chen Yansen went up.
"I am the founder of Orange Technology and Pinbei Mall. All of you here are my industry predecessors. When it comes to entrepreneurship, I have been in the industry for less than two years and have only some superficial knowledge..."
Chen Yansen said modestly.
But the look on his face was obvious, and he was clearly saying: I have achieved what I have now in two years, what about you? "I personally believe that before starting a business, you must first choose a good path. Either the road is narrow with few people, or the road is wide with many people."
Chen Yansen smiled faintly and said casually.
These people below, firstly, did not give him any money, and secondly, they were not his sons. How could Chen Yansen possibly talk about any truly useful information?
He spoke eloquently for several minutes, but all he said was empty words. At first glance, they sounded like profound insights, but on second thought, they were nothing.
Zhang Yiming in the crowd felt that what Chen Yansen said made a lot of sense. While listening, he was thinking about how to use his advantages to find the track that suits him best.
"Mr. Zhang, I'm organizing a small exchange meeting tonight. Chen Yansen, Lin Qi, and Cheng Ou will all attend. Are you free?"
At this time, Cheng Weixing took advantage of his position to slip to Zhang Yiming's seat and asked in a low voice.
He saw that Chen Yansen was interested in Zhang Yiming, so he planned to organize a small circle gathering under the guise of Chen Yansen and bring together several influential people in the industry.
Zhang Yiming didn't think too much about it. He just saw Cheng Weixing looking for Chen Yansen several times, and subconsciously thought that the other party was inviting Chen Yansen. He never expected that he was the first person invited by Cheng Weixing.
"Of course I'm free. What time do you want to meet?" Zhang Yiming agreed readily.
"It hasn't been decided yet. I'll inform Mr. Zhang later." After seeing that he had settled on Zhang Yiming, Cheng Weixing felt relieved and replied with a smile.
After Chen Yansen stepped down, he used Zhang Yiming's name to persuade Chen Yansen to attend the exchange meeting in the evening.
Chen Yansen agreed without hesitation.
In his opinion, Zhang Yiming is at a critical juncture in his life at this time. Whether he invests or partners with him, he will make considerable profits.
When the two were talking just now, the other party looked at him with admiration, so it seemed that if he proposed to invest, it would be difficult for the other party to refuse.
In this way, Cheng Weixing relied on the strategy of fooling both sides and managed to organize this party.
The morning forum ended and the luncheon session began.
As soon as Chen Yansen and others sat down, someone came over to greet them with a business card and a flattering smile on his face.
Among these people, there are bosses of dumpling processing, electronic toys and breeding industries, as well as investment bank and securities managers. The former are left to Song Yuncheng to deal with, while the latter are pushed to Gao Weilin.
Chen Yansen pulled Zhang Yiming aside to chat.
“Are you interested in joining Pinbei or Orange Technology? Whether it’s product recommendation or the algorithm department of Aurora OS, we need algorithm engineers like you with rich project experience.”
Chen Yansen took the initiative to extend the invitation.
During his time at Kuxun.com, Zhang Yiming accumulated a large amount of recommendation engine technology. Later, he joined Wang Xin's Fanfou.com, focusing on search, message distribution, and hot word mining businesses.
After more than four years of training, Zhang Yiming has achieved remarkable accomplishments in execution, team management and algorithms.
This is also the reason why Wang Xin wanted to bring him in as soon as he founded Meituan.
Zhang Yiming pushed up his glasses, unable to hide the smile on his face, but he finally refused, "Thank you, Mr. Chen, for your appreciation, but I left Jiujiufang because I wanted to make my own product."
"There is no conflict between the two. I can give you funds and authority to allow you to develop products independently." Chen Yansen waved his hand, indicating that it didn't matter.
"Mr. Chen, I haven't figured out what product to make yet." Zhang Yiming smiled bitterly, feeling a little touched. Chen Yansen gave him enough respect and trust.
He thought about it and asked in confusion: "Does Mr. Chen think so highly of me?"
In the minds of science and engineering men, everything has a reason, and there is no reason for Chen Yansen to value him so much.
"I plan to develop a recommendation engine that can be used for different people and apply it to Pinbei Mall to improve the efficiency of product explosion rate. Therefore, I am more interested in outstanding talents in the field of algorithms in China. Last year, I asked a headhunter to contact you, but Mr. Zhang did not agree to change jobs."
Chen Yansen lied with open eyes.
Zhang Yiming laughed dryly, feeling a little embarrassed. He didn't expect that Chen Yansen had been paying attention to him so early.
A headhunter did contact him last year, but he had no intention of changing jobs at the time and just wanted to start his own business. He had no idea whether any of those who were rejected were hired by Chen Yansen.
"Mr. Chen's product solution is great. I have tried similar things on Kuxun and Fanfou. In fact, we can extract product attributes, descriptions and other information, calculate the similarity between products based on these feature vectors, and make the recommendation system work."
Zhang Yiming did not hide his thoughts in front of Chen Yansen and talked freely.
He originally thought that Chen Yansen was a liberal arts student and his abilities were more inclined towards management.
Unexpectedly, during the conversation, the other party had an amazing comprehension ability and could tell the general plan of code implementation right away, which surprised him greatly.
"So, what product does Mr. Zhang want to make?" Chen Yansen recalled the time point. The other party's goal at this time should be on the distribution of news content.
"The initial idea is to develop a mobile browser that integrates intelligent search and personalized display. After all, with the development of smart phones in the past two years, the advantages of mobile terminals have been gradually magnified..."
Zhang Yiming replied with a smile, his tone sincere.
etc!
Shouldn’t you be developing Toutiao?
Chen Yansen really wanted to interrupt him.
He thought Zhang Yiming was fooling him, but he saw that the other party's eyes were sincere, and his breathing and heartbeat frequency were extremely normal.
This means that 99% of what the other party says is true.
Moreover, the market prospects for mobile browsers are indeed good, as can be seen from the fact that He Xiaopeng sold UC and cashed in 20 billion yuan.
But in this way, Zhang Yiming's path was completely wrong.
Should he still invest in Zhang Yiming? Chen Yansen had never expected that his first meeting with Zhang Yiming would start like this.
This is as magical as being reborn back to 1999, investing 10 million yuan in Ma Liyun and letting him create Alibaba and engage in e-commerce, but he insisted on developing the QQ chat room.
(End of this chapter)
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