(I forgot it was mid-shift today, so I slept until 2pm and then went to work. Sorry, I’ll update it together when I go back tonight!)
When Lin Fan heard this, he broke into a cold sweat.
Let's play, let's make trouble, don't take the yellow video as a joke!
"You don't care?"
Lin Fan looked at Wang Wei, who looked calm, and his expression gradually darkened.
"Take care of it, you must take care of it."
Wang Wei sighed, "But you know, this is also one of the sources of traffic.
If you don’t do it, your competitors will do it, and they will eat up the traffic from Potato.”
Considering that Braye is a foreigner, the two of them talked in English.
Breyer also understood. He looked at Lin Fan and asked, "Lin, what's the problem with this? There are many videos like this on YouTube, MySpaceVideo and other platforms. It's so normal. It's human nature."
Lin Fan shook his head, "I've said it many times, don't copy foreign models and come to China. China's laws are also different from foreign countries.
Our involvement in pornography is illegal, and we might as well have all the video websites shut down for rectification."
He glanced at Wang Wei and threatened: "Maybe you, the founder, will be sent to serve as an iron rice bowl."
"iron rice bowl?"
Breyer didn't understand Chinese characteristics and kept mumbling, not knowing what it meant.
When Wang Wei heard this, his face finally became a little moved.
"Mr. Lin, I don't ignore it at all. The naked ones are not allowed to be uploaded. There are some erotic scenes in Hong Kong movies."
Wang Wei said, "For this reason, we have also set up a special video review position. How about you come with me and take a look!"
Lin Fan nodded. As an investor, you don't have to completely ignore the company after investing in it. Investors also have to make a difference in formulating strategies and company business plans.
Of course, strong founders are another matter.
Wang Wei led the way, Lin Fan followed and left the conference room, and Breyer also followed.
After leaving the conference room, there was an open office area outside, with thirty or forty people working on computers on the table.
In a corner, there were two fat men in their early twenties, smiling at the computer.
Because he was too fascinated by the music with his headphones on, Wang Wei, Lin Fan, and Breyer approached them, but they didn't notice that they were still discussing the figures of Li Lizhen and Ye Yuqing.
When Wang Wei saw this scene, he was a little embarrassed and wanted to interrupt the two employees' interest, but when he looked back, he saw that the two elders beside him were watching with gusto.
Is this okay?
Wang Wei had a headache, so he simply stopped making random choices and waited quietly with the two people next to him.
"Hey, it's boring. It's only one or two minutes of footage at a time. It's not as enjoyable as the one in Japan!"
A fat man took off his headphones and complained to his companion next to him.
"Yeah, that's all Hong Kong movies are. It's not as good as the ones I found in the KTV private room two days ago..."
Another little fat man didn't finish his job for a long time because he saw three people behind him.
"Mr. Wang!"
The little fat man called Mr. Wang and closed the video playback window with the speed of a man who had been single for twenty years.
Another little fat guy followed suit and quickly shut down the computer.
Then the two of them stood aside like two elementary school students who had made a mistake, with their heads lowered.
Wang Weigang was about to scold him, but was stopped by Lin Fan, "This "identification of pornography" was originally their job, and they didn't do anything wrong. It's just that the identification took a little longer, and they need to improve their work efficiency in the future."
Wang Wei suppressed his laughter while scolding the two fat guys, "Why don't you thank Mr. Lin quickly!"
"Thank you Mr. Lin!"
The two little fat guys liked this job from the bottom of their hearts. They were afraid that such a good job would be lost, so they hurriedly bowed to Lin Fan.
Lin Fan pulled an empty chair over from the side, sat down, and said with a smile: "You guys should sit down too, I have something to ask you both."
The two little fat guys didn't dare to sit down, so they cautiously sat down after Wang Wei nodded.
Wang Wei and Breyer went to find two chairs nearby, put them over, sat down, and listened to Lin Fan's questioning of the two fat men.
"How long have you been doing this?"
"More than two months."
"Are there many such pornographic videos on the platform?"
"There are so many, too many, especially Hong Kong films."
Wang Wei glared at the little fat man who spoke angrily. Hong Kong movies were uploaded to the platform by Tudou itself.
He did this to increase the traffic of the platform and give users something to watch.
It's just that when uploading, there is no way to identify whether it is a movie.
As for copyright, what is that?
Lin Fanxian glanced at Wang Wei, who sneered, "Now is a period of barbaric growth. We have no choice but to strictly manage it in the future."
Lin Fan continued to ask the two fat guys how they "identified" the video.
"The videos uploaded every day will be displayed in our backend. We will look at the cover first. If there is anything suspicious, we will click in to see what happens..."
Lin Fan frowned, "Can you watch so many videos every day? And there must be some omissions in this method, right?"
The two little fat guys didn't answer.
Lin Fan almost knew what was going on, so he got up and called Wang Wei, and they went back to the conference room together.
"This method of identifying pornography is equivalent to manual operation, and the efficiency is too low."
Lin Fandan said calmly, "Currently, there are tens of thousands of videos uploaded to the platform every day, and just these two people can't review them.
If this number increases tenfold or dozens of times in the future, it will become even more unbearable."
Wang Wei frowned, "Then add more people, but in this case, labor cost will be a big problem."
"You can consider developing a pornographic identification system!"
Wang Wei asked: "Pornography detection system?"
Lin Fan nodded, "The oil pipeline is currently being developed in this area, but no results have been achieved yet.
There are also many banned videos on YouTube, including anything about religion, racial discrimination, violence, and gore.
Although some countries and states do not prohibit pornographic videos, it is necessary to develop them early and take precautions."
Wang Wei shook his head and smiled bitterly, "Our technology is not good, and the funds have to be used to increase users and invest in advertising. How can we have the money to engage in this research and development?"
Otherwise, when the oil pipeline development is successful, sell us a system."
Seeing that Wang Wei was so unambitious, Lin Fan didn't bother to say anything more, and nodded, "Okay, it's just a video review, you really need to be refreshed, otherwise you will know the seriousness of it if you get really frustrated one day.
"
Wang smiled and said, "I know, but now if you click on any video website, it's almost like a potato.
You can only do it slowly, you can't do it all in one step. I will pay attention to the situation you mentioned."
Lin Fan asked: "Did you ask someone to copy the Hong Kong movie? You are not afraid that people will sue you."
"Let's make it big first, then we'll pay a settlement fee at worst."
I don’t know if it’s because he’s seen it too much, but Wang Wei really feels like he doesn’t feel itchy when he has too many lice, and he doesn’t worry about having too many debts.
"Please pay attention, YouTube is currently in a lawsuit with a Hollywood film and television production company.
No matter you win or lose, you will inevitably lose money."
Lin Fan thought of YouTube. In the early days, they only focused on traffic and did not consider anything about content copyright.
After he stepped down from his position, several major Hollywood giants began to stir up trouble, pay compensation, and remove related infringing videos. YouTube is also paying the price for its previous actions.
At the same time, YouTube has also developed a new system that can identify whether a video is infringing and whether it is original.
"Mr. Lin, didn't you say you wanted to set up a copyright fund?"
Wang Wei was very thief and began to inquire about the copyright fund that Lin Fan had mentioned before.
Lin Fan gave Wang Wei a meaningful look, and the latter suddenly blushed, "You know, Tudou.com can't afford copyright investment now. But I will always remember your favor.
I have nothing to repay, I can only put this gratitude into my work.
With 200% work enthusiasm, we will make Tudou a good job and go public in the future.
Let you, the shareholder, make money, which is my way of repaying you."
Lin Fan couldn't help but laugh. This was a reflection on himself.
Regarding the copyright fund, for him, making money is only one of the reasons. The other is to better control Tudou and even the entire video industry.
Wang Wei himself also knew that Lin Fan was hoarding copyrights with the intention of making a lot of money.
Deeper, Wang Wei didn't think about it, because in his opinion, it was unclear whether copyright would make money in the future.
But Lin Fan has money, and by hoarding videos in his hands, the future of Tudou is guaranteed, so he has no reason to stop it.
"The Copyright Fund has been established recently, and I'm still looking for a manager."
Lin Fan smiled and said, "Don't worry, I promised to use the collected videos for Tudou for free for three years, and I won't break my promise.
But if the copyright industry begins to regulate in the future, then we will have to settle the score between the brothers."
Wang Wei nodded, "I understand, after three years, Tudou.com will be ten or twenty times bigger than it is now, and I should have money to pay you by then."
"Okay, then it's settled."
After saying that, Lin Fan and Breyer left Tudou together.
The two found a Western restaurant nearby and chatted while eating.
Breyer cut the steak with a knife and fork and said while eating: "Magic City is a good place. The steak here is more delicious than in San Francisco."
“Is it the same with investing?”
Lin Fan guessed that Breyer had something to say.
as expected!
Breyer put down his knife and fork, wiped his mouth, and said with a smile: "Lin, you have now fully entered China's venture capital market. Have you ever thought about finding a strategic partner?"
Lin Fan smiled and said, "Aren't we partners?"
"I'm talking about that kind of strategic partnership."
Breyer looked at Lin Fan and said with a smile: "I think everyone in the world has underestimated you. Your talent in the venture capital industry is not weaker than Bill's talent in the Internet."
Lin Fan guessed that Breyer's words were based on Skip's withdrawal.
Then Breyer actually mentioned Skip.
"How nice it would have been for you to introduce Skip to Axel, what a pity!"
Breyer shook his head as he spoke, almost beating his chest.
"I said, brother, you don't want me or Lin Capital to help you introduce projects in the future, do you?"
Breyer was very thick-skinned and nodded: "Yes, that's what I mean.
In the future, if you or Lin's Capital invests in projects, you can inform us and we will invest in the next round, or we will invest together with you.
When the two of us work together, we will be much more relaxed and the risks will be much lower when running a project.
Especially since we have cooperated so many times. Axel invested in Facebook, co-invested with Facebook in Youyoumi, and now co-invested in Tudou with Lam Capital.
We have a foundation of trust in each other. By joining forces, the Chinese and American venture capital markets will be open to us.
Of course, Axel will not take advantage of you all. If we have good projects, we will share them with Lin Capital.
You have to know that we, Axel, used to be known as one of the top five venture capital firms in the world!"
Lin Fan smiled and said, "You know, that was before."
If the cheating factor is not considered, Lin Fan feels that Breyer's request is reasonable and fair.
For example, DFJ and IDG, Sequoia China and ZhenFund all form CPs and work together to conquer the world.
But he has a golden finger, so there is no reason to arbitrarily distinguish other people's interests.
In the cooperation between Youyoumi and Tudou.com, Lin Fan always considered circumventing the non-compete agreement.
Otherwise, he would be too lazy to play with Axel.
Breyer pondered for a moment and replied: "Lin, don't reject me in a hurry.
You know, in today's society, wealth and power are concentrated in the hands of a small number of people.
Axel has been operating in the United States for more than 20 years, and we have a lot of hidden resources.
If something like grabbing a project happens, it will definitely be much easier with Axel's help.
There are also post-investment management services for enterprises. To be honest, Lam Capital has done a terrible job in this area."
Post-investment services hit Lin Fan's pain point. He argued: "Isn't it true that Lin's Capital was officially launched this year? Post-investment services can be sorted out in a year or two, not in a few months."
Breyer nodded, "With Axel's help, you can shorten this process."
Lin Fan waved his hand, "It's better not to, we have our own characteristics, rather than becoming a copy of Axel.
In fact, I'm already starting to prepare for this.
In a year or two, you should see a brand new Lam Capital."
Breyer saw that Lin Fan was resolute and did not continue to lick his face to ask for cooperation. He shrugged and said, "Well, that's really a pity.
I'm going back to the United States tomorrow. If you change your mind, you can call me anytime."
"I have a cooperation plan, do you want to hear it?"
Breyer suddenly became interested, "Say."
Lin Fan smiled and said, "Axel will set up an independent investment institution in China, like Sequoia Capital China."
Breyer rolled his eyes, "Then you want to be Axel's backstage funder?"
Talking to smart people is easy. Lin Fan just said the first half of the sentence, and Breyer immediately guessed the second half.
Lin Fan smiled and said, "What do you think? I'll just borrow your brand name and pay you a brand licensing fee every year."
"That's not a good idea."
Breyer shook his head like a rattle, "We are an investment institution with a glorious history of 22 years, how can we sell our own brand?
Let’s change the cooperation method, for example, Lam Capital and Axel each contribute half of the capital, and everyone shares the risk.”
Lin Fan wants to set up a shadow fund to invest in projects that are inconvenient for Lin Capital to invest in.
Axel was chosen because the other party had a foreign brand that could be used immediately, saving some time in laying the foundation.
Of course, he is also a living brand himself and has injected his influence into Lin Capital.
It can be said that he single-handedly turned Lam Capital into a star capital.
But it would be redundant for him to set up a fund himself, and at the same time his goal would be exposed.
“Let’s do this, you invest 10% of the capital, and I will provide the remaining 90%.
Every future fund from Axel China will invest according to this investment ratio."
Breyer raised his eyebrows, "What about Axel China's operating profits and fund profit sharing?"
"Of course it's still 19 points!"
Lin Fandan smiled, if an investor invests 100 million to be managed by a fund manager, it is agreed that the annual management fee is 2% and the fund profit is divided into 20%. This is also the "2+20" commonly used in the industry.
Five years later, the size of the fund reached 200 million. After deducting management fees, there was still 190 million left, and the net profit was 90 million.
Of the 90 million, 80% will be allocated to investors, along with 100 million principal;
Attributable to investment institutions is 20% of the 90 million, which is 18 million. Including management fees of 10 million, the total income of investment institutions is 28 million.
This money is used to cover the daily staff expenses of the investment institution and the project bonuses of the fund managers/partners. Whatever is left over belongs to the founding partners of the investment institution - the real big boss.
