Do what you need to do, and the rest will be taken.
Editor’s note: This article is from WeChat public account “New Retail Business Review” (ID :xinlingshou1001), author Li Jianhua.
At 6:28 pm on November 20th. The employees of the company in Shanghai Jinhongqiao International Center began to go downstairs for dinner. Of course, after more than an hour, they have to go back and continue working overtime.
This is destined to be a busy night. At this time, many Q3 earnings reports have just been issued, and Huang Wei is still busy attending the earnings conference call. After the release of the financial report, the stock price plummeted more than 23% before the market, and the market value evaporated over 10 billion US dollars.
Loss is the main cause of market volatility: the net loss attributable to ordinary shareholders is 2.335 billion yuan, an increase of 112.6% over the same period last year. Huang Wei said in a conference call that the loss was mainly due to the “billion-subsidy” policy. He stressed that the 10 billion subsidy is not a marketing term, and we really have to make up 10 billion.
Too many years of establishment, the annual active users have broken 500 million. However, it is worth noting that the revenue of Q3 has increased by 123% year-on-year to 7.539 billion yuan. Compared with Q2 revenue, the revenue increased by 169.1% year-on-year to 7.29 billion yuan. The revenue growth rate slowed down noticeably. The high growth that has been maintained for a long time has begun to show signs of fatigue.
A senior media person who has been closely observed and interviewed Huang Wei believes that Huang Wei is sleek and savvy, looks very open, but he likes to circle and is very defensive.——You ask the cottage The problem of fake goods, he told you about Taobao’s historical experience; you asked how to make a consumption upgrade, he gave you a list of successful examples of overseas brands. In short, I don’t want to talk more and more.
But it is this Hangzhou man who has a savvy mind and is called a unique mode of thinking by Lu Qi. Through the misplaced competition, he has become the fastest growing and most controversial Internet e-commerce company in China.
This company, which has been labelled with a five-ring and a poor quality label, is able to survive and grow rapidly in the fierce Chinese e-commerce sector.
Why are you creating a lot of stuff? What have you experienced in the rushing fight?
Life Adventure
Huang Wei was also the most impressed impression of the sinking market. The mother who worked at the Hangzhou Silk Factory when he was a child often took his colleagues’ children’s clothes home to wear them. Even if she knew that her family was in a tight situation, Huang Wei, a child of childhood, couldn’t help but wonder: Why should I wear old clothes?
After many years, Hangzhou has already developed into a quasi-first-tier city. Although Huang Qi’s mother has become relatively rich, she still cares about the price of a dollar when she buys daily items such as meat dishes and paper towels.
At the same time, Huangmu will buy a high-end iPhone and brand TV. Huang Wei has been carefully observing the behavior of people around him: In the mother, he saw that a person has the need to pursue benefits and cost-effectiveness in both poverty and prosperity.
Huang Wei not only likes to observe people’s hearts, but also special exams. The elementary school teacher asked him to try to test the Hangzhou Foreign Language School. According to him, he did not review it and got an acceptance letter.
But young and ignorant, he doesn’t know how many cows there are outside of Hangzhou – the first batch of 8 foreign language schools in the country. If you go in, you will be admitted to college. Later graduates with millions of dollars are embarrassed to say that they are mixed.
Huang Wei once thought that Hangwai was a foreign language student. He was very proud and only wanted to enter a number of physical and chemical schools. Later, he was called by the headmaster to train, and he became the only person who was admitted to Hangzhou in the 9 years before and after the primary school.
When he graduated from high school, Huang Wei was sent to the Zhejiang University Mixed Class (the predecessor of Zhejiang University), and only 200 people were recruited each year as an elite experimental class.
One day in 2002, Huang Wei went back to the dormitory to go online. On MSN, a stranger and his friend asked him about computer technology problems. Huang Wei promised to help. After the problem was solved, the other party claimed that he was the founder of Netease Ding Lei. Huang Wei also thought that he had encountered a liar. But I did not expect that Ding Lei later changed the fate of Huang Wei.
In 2003, I learned that Huang Wei went to the University of Wisconsin to study for a master’s degree. Ding Lei introduced a friend who had just immigrated to the United States to him.
This ignorant young man, at that time, did not realize that he met the life teacher in his life, Duan Yongping.The behind-the-scenes shackles that later influenced the Chinese smartphone market have given substantial help to Huang Wei’s entrepreneurship, investment, and life.
After a few days ago, Duan Yongping took out 2 million US dollars to invest in NetEase, which was almost sold at that time. A few years later, NetEase’s share price soared and he earned $1 billion. Wall Street called its Mr. Duan.
Duan Yongping saw the young and thin young man in front of him, realizing that the other person’s understanding is worthy of cultivation, treating him as the fourth disciple, and letting him stay with him to learn investment. And Duan Yongping’s previous three disciples were: OPPO founder Chen Mingyong, vivo founder Shen Wei, and BBK CEO Jin Zhijiang.
In 2004, Huang Wei graduated with a master’s degree. There are two offers in front of him: one is Microsoft at the time, and the other is rising star Google. Huang Wei does not know how to choose, Duan Yongping pointed out: Google is a very cattle company, if you go, at least three years.
It’s a big bang, it’s a big eye, it’s a golden eye. After two years of work at Google, the company went public. One day, he found that his bank account was a lot more money, and he had a feeling of falling out of the sky.
Huang Wei recalls that in Google’s experience, he has been lucky enough to have a chance at least once in twenty years. He is very grateful to Duan Yongping: he always keeps educating me to do the right thing first, and then do things right.
In 2006, Duan Yongping bought a chance to have lunch with Buffett for $620,000. This meal can be taken with a person, and he brought Huang Wei. It’s this meal that makes Huang Wei realize the power of simplicity and common sense. People’s thoughts are easily polluted. What you need after understanding the truth is not wisdom, but whether you still have the courage to face the facts. Rationality and common sense make judgments.
Huang Wei has a self-consistent mindset of Chinese and Western culture. Perhaps this explains why a Google-born programmer can make a lot of products outside the five rings. Huang Wei once published a public article, “My First Job,” and resumed my experience working at Google:
Google is actually quite like China in some respects. For example, the “worker rank” status is high and heavy. So when ideology conflicts, Google’s response is beyond the average commercial company.
Google is also somewhat similar in management to China after the reform and opening up. It encourages grassroots innovation, dares to dare to try, and is highly concentrated in core power. It has the institutional advantage of focusing on doing big things.