"Not yet. In fact, he owes a bigger debt." Ye Kai said with a smile.
"Come on, let's talk. Logically speaking, given the situation in the United States at that time, express delivery should be very marketable? How could we owe a lot of debt again?" Chu Jingxuan felt a little curious.
"Smith's winning of such high risk investment is not just about how tempting his market analysis is, nor is it about venture capitalists wanting to get miraculous gains from it, but it is not unrelated to his personal charm. Many venture capital investors involved in the investment Experts say that our investment is based on Smith, who will definitely become a rare great entrepreneur who creates myths." Ye Kai continued.
"Oh, personal charm." Chu Jingxuan nodded and suddenly asked, "You gave me 100 million US dollars, is it because my personal charm is unstoppable?"
"Yes..." Ye Kai replied with a smile, "When I saw you for the first time, my heart was shot full of holes. Of course I can't resist your infinite charm, let alone borrowing money. It’s no problem even if you borrow it from someone else.”
"Just kidding." Chu Jingxuan glared at him, but there was a feeling of pleasure in her heart.
Ye Kai looked at Chu Jingxuan with a smile and said in his heart that the little girl was easy to trick and coax. If she said a few nice words, they would not be able to tell the difference between east, west, north and south. If in a few years, people become more sophisticated, it would not be the case. So easy to fool.
"After receiving venture capital, the first thing Smith did was to purchase another 33 Dassault Eagle aircraft. Everything was ready. In April 1973, FedEx officially started operations." Ye Kai said. "Federal Express The express company initially provided services to 25 cities, but disappointingly, only 186 packages were delivered on the first night. In the first 26 months of operation, FedEx lost $29.3 million and owed creditors $4,900. With US$10,000, FedEx is in danger of going bankrupt at any time.”
"What happened next?" Miss Chu was indeed more interested in this senior's affairs.
It’s no wonder, what she is currently engaged in is venture capital. So she is also very concerned about similar cases, but there are too few ready-made teaching materials in China. Everything needs to be figured out by oneself, and now Ye Kai is here to speak out, of course. A dream opportunity.
"Later, the method that Smith developed was actually to cultivate the market first and operate at a low profit." Ye Kai replied.
In order to improve the business situation, Smith tried his best to win over customers and expand the market. In order to obtain the contract from the US Administration, FedEx opened 6 routes in the West. He lowered the price to such a low level that people doubted whether there was still profit.
However, Smith focused on longer-term interests. He believed that although this business was not very profitable, it could be used as the face of the company.
It may also be that God rewards those who work hard, and FedEx, which struggled in difficult situations, encountered unexpected good luck. First, the city government lifted restrictions on the air transportation industry, which greatly increased the transportation volume of the freight industry.
Due to the sudden surge in demand for commercial transportation, major domestic freight agencies are overwhelmed with business in big cities and simply do not have the strength to meet the requirements of small cities. This has provided FedEx with a major market gap and increased its business volume. Increased quickly.
In 1975, the company became profitable, with operating income that year reaching $75 million.
In 1976, FedEx made a net profit of US$3.5 million.
In 1977, annual revenue exceeded US$100 million and net profit was US$8.2 million.
In 1978, the company's revenue was growing at an annual rate of approximately 40%. At this time, FedEx had 6,700 employees and delivered 65,000 packages to 89 cities across the country every night.
In 1979, FedEx's annual operating income was US$259.5 million and net profit was US$21.4 million.
In 1983, the company's annual operating income reached US$1 billion, becoming the first company in American history to exceed US$1 billion in revenue without relying on acquisitions or mergers after being founded less than 10 years ago.
By the late 1980s, FedEx's annual operating income exceeded US$3.5 billion and its net profit was US$176 million. FedEx provides services to 90 countries and regions around the world. It has 54,000 employees, and various performance indicators have jumped
Ranking first among the world's air cargo companies, it has become a leading company in the global overnight express delivery industry.
"In 1990, FedEx won the prestigious Malcolm Baldridge Award for service excellence. FedEx was the first service company in the history of the United States to win this award," said Ye Kai,
“FedEx is one of the largest venture capital-based companies in the history of American business, making their success a kind of entrepreneurial miracle. If FedEx had failed, we wouldn’t have the venture capital market we see today.
Although the venture capital market will still exist, the level of activity will be much less intense."
"Senior's masterful demeanor is really admirable." Chu Jingxuan nodded and said in deep agreement, "Now I am considered a leader in the venture capital industry in China, but I don't know if after all the hard work, I will
Can it achieve the expected goals and become a benchmark for China’s venture capital industry?”
"I guess it's not a big problem." Ye Kai smiled, but in his heart he was full of longing for the next few years.
In fact, there are so many development opportunities in China today, whether it is from the real estate industry, home appliance industry, transportation industry, or even most service industries, there are many opportunities.
Of course, the power of venture capital has not yet emerged. At least it will have to wait until a few years later, when the Internet begins to become popular in China, that venture capital angel investors will become popular in the country.
Behind the myth of Yahoo is the legend of SoftBank.
The dazzling new economy is like the chariot of the sun god, galloping forward amidst the roar of technology and capital.
Although China's economic development level is probably more than a few decades behind that of the United States, the Internet craze seems to have swept across the ocean overnight, allowing the Chinese people to gain economic advantages similar to those of the United States before they were fully prepared.
Chances of equal status.
There was a time when the air was filled with a kind of enthusiasm and restlessness. For many people, the realization of their dreams seemed to be within reach.
When Zhang Chaoyang and Negroponte appeared on the cover of the American "Time" magazine at the same time, he may not have thought of the sadness two years later.
But if Zhang Chaoyang can still be regarded as a well-deserved representative and pioneer of China's new economy, it is indeed not because he brought the Internet to China first, but because he brought Sohu and also brought funds from venture capitalists such as News Corporation.
, thereby telling people the true rules of the game of the new economy, and thus triggering the revolution of the new economy.
The Internet's sudden thunder also demonstrated the peerless grace of venture capital. Although before this, venture capitalists had already begun to fumble and take action.
After the **, there must be a low ebb, and the new economy is no exception.
Later, in April 2000, the collapse of Nasdaq not only put a heavy layer of snow on the flames of the new economy and ushered in the "Ice Age" of the Internet, but also proved to everyone that not all venture capital
Angels, when they suddenly retreat, the result is like the devil coming.
But in Ye Kai's view, this is normal. Capital comes from the pursuit of profit, and no one will really be Lei Feng.
When Uncle Lei Feng did good deeds, he did not leave his name, but he wrote a diary.
Venture capitalists have achieved the glory of the Internet era, and the nature of venture capitalists determines their behavior of cutting out the bottom line. The fact is that the loneliness of venture capitalists is only temporary after all, and will not disappear silently with the sad decline of China's three major portals.
"You can never cut off the continuity brought by time. For example, if the same VC can be used throughout, it will definitely show different characteristics in different periods. They appear in different eras, and the general environment has different influences on them.
The decisiveness of investment style." Thinking of this, Ye Kai couldn't help but say something that made Chu Jingxuan feel a little strange.
"What?" Chu Jingxuan expressed doubts. She did not understand what Ye Kai said.
"What I mean is that you are good at being a venture capital investor. You should strive to be the best and most successful." Ye Kai replied.
For Chu Jingxuan, it is much better to be a venture capital investor than to be an entrepreneur.
With the backing of a bank, cash in hand, and the connections of the old Chu family, there are not many things that can't be settled in the country. And with a foresighted person like Ye Kai guiding you from behind, you only need to choose a few projects and invest in them.
, you can sit back and wait for them to grow up and share the joy of harvest.
Perhaps from some aspects, Chu Jingxuan has all the advantages of being a venture capital, and compared with her foreign counterparts, her advantages are more prominent. Local venture capital has a better understanding of national conditions and knows what can be done.
What can't be done, what can make money, and what can't be done at all.
Foreign venture capital investors are different. Although they also have domestic agents, due to their different philosophies, there are often big differences in communication between them. Therefore, inconsistent practices have an obvious impact on work efficiency.
A lot of business has been ruined because of this disagreement.
Therefore, Ye Kai is very optimistic about Chu Jingxuan's development. Although she only has 200 million US dollars and 100 million yuan in hand now, she has more opportunities and better development prospects.
"Of course I want to be the best." Chu Jingxuan raised her wine glass and took a sip, then said with a bright smile, "Otherwise I wouldn't be worthy of you, Second Young Master Ye."
"He deserves it. Who says he doesn't deserve me to challenge him in a duel!" After hearing this, Ye Kai's heart skipped a beat and he immediately patted his chest to express his stance.