Chapter 209 [Lao Jia's story Tiansheng told in another way (44/93)]
After achieving his goal, Lu Ming went back to Ningzhou directly on the same day without making a long stay.
On the way back, Ge Feng was discussing with Lu Ming on the plane.
"Chairman, what should we do with these billions of copyrighted content in the future? Should we hold it first and wait for it to appreciate in value and sell it at a good price in the future, or should we earn licensing fees?"
Regarding the collapse of Leshi, Ge Feng also knew very well that this was no longer a matter of possibility, but a matter of time.
He led his team to investigate Lux more than six times, did a lot of work, sorted out all the financial affairs of Lux since its establishment, and drew a capital map.
To put it a bit exaggerated, Ge Feng may now know more about Leshi's financial situation than Lao Jiadu.
Therefore, it is quite clear that Leshi will not be able to get back 6.5 billion in ten lifetimes, and the pledged copyright resources will of course belong to Tiansheng.
"Buying low-priced resources and selling high-priced resources, or earning licensing fees, is not a good way to make money." Lu Ming shook his head and smiled, then continued after a moment:
"In the Internet streaming video business, the current domestic structure is Youai Teng + others. Station B has a good momentum. There is no doubt that they all need copyright resources. Lao Ge, who do you think is best suited to give these copyright resources to Tiansheng?
Benefit?"
At present, no Internet video website is making money, they are all burning money, including foreign "Youtube" videos owned by Google.
Now, no more than five or ten years ago, copyright can be ignored. Copyright fees and content production expenses are all money-burning things. Without a rich copyright library and the latest content output, users cannot be retained.
The video websites themselves simply cannot afford it, so whether it is domestic YouAiTeng or foreign "Youtube", they can only survive by relying on Internet giants who are not short of money, so as to avoid being defeated by competitors due to lack of content.
Eliminated.
Ge Feng thought without saying a word. For a long time, he looked at Lu Ming and said, "Instigate Byte!"
Lu Ming nodded in agreement and said: "Yes, Youai Teng will not give any of these. It is in Tiansheng's best interest to provoke Byte, but you cannot give it proactively and let Byte's people ask for it."
This is very simple. Tiansheng now holds 9% of the equity of ByteDance. This is the equity obtained by exclusively investing in the D round of financing. It is a genuine major shareholder. Although it also holds shares of Tengxun Alibaba, how much is that?
, Tiansheng did not catch up with the growth trend of these two established Internet giants, but it caught up with ByteDance halfway.
Lu Ming continued: "The short video business is Byte's trump card and ranks first in the industry. However, the streaming video business is not as good as Youai Teng. These copyrighted resources are packaged to Byte, which has a negative impact on the company's Xigua Video."
Giving charcoal in times of need is like adding wings to a tiger."
Ge Feng couldn't help but nodded repeatedly.
How much money can you make by packaging these for Uaideng?
Tiansheng doesn't have much interest in the giants behind these major video websites, and it doesn't have much interest in directly investing in these video websites, so it is despised.
But Tiansheng is the major shareholder of ByteDance, an emerging Internet giant that can challenge Penguin in the future. Its Douyin short video application is also the most successful social software in China so far.
Giving copyright resources to Bytedance can have a huge effect on the company's moat. The product line can be upgraded, and the valuation given to the company by the capital market can also rise. This is obviously more in line with Tiansheng Capital than giving it to Youaideng.
Benefit.
Lu Ming paused for a moment and said methodically: "After Lao Jia's bombing, the copyrighted resources in his hands will undoubtedly be found by websites such as Youai Teng, including Byte. It's very simple, just give it to Byte.
The copyright resources in hand are packaged and valued, and handed over to Byte in the form of strategic investment. They also give a sum of cash...just 2 billion U.S. dollars, and then get 15% of the equity."
Ge Feng nodded.
We will not participate in the subsequent financing because we need to introduce international capital to expand our global business.
Most of the money that Bytedance took from Tiansheng Capital in its D round of financing has almost been burned. At this time, the E round of financing should also be carried out.
The valuation during the D round of financing was US$10 billion. If the E round of financing is carried out this year, it will definitely need to be revalued. Byte's development momentum is strong, and the valuation will definitely be doubled to US$20 billion this year.
It is not a big problem for Tiansheng to win Series E financing again. Tiansheng can provide everything that other VC institutions can provide, and Tiansheng also has and will provide what others cannot.
After completing Byte's E-round financing, Tiansheng Capital holds 24% of Byte's equity, which is about the same. The remaining part of the cake will be left to others to share.
On the way, picking up Byte Chao made up for the regret of not being able to join Tengxun, and grasping Pinduoduo correctly also made up for the regret of not being able to join Alibaba.
Perfect!
Lux didn't tell the story well, and due to various reasons, the car overturned and became an accident.
The step is too big and the egg is broken. How big is the step?
According to the data, Lux’s ecological story includes the Internet technology ecology (content ecology, video ecology, cloud ecology), large screen ecology, mobile phone ecology, sports ecology, automobile ecology, and Internet financial ecology.
It’s hard for anyone to succeed, but Boss Jia has to go hand in hand. How many competitors will he have to establish at the same time? How much money will be needed to achieve this? Can he not cheat?
I want to do everything, and I am extremely anxious. As a result, I accomplish nothing and end up in a mess.
It's not that this is not a good story, it is a good story. Lao Jia can't tell it any more. Lu Ming wants to continue telling it, but he has to tell the story in his own way.
Lu Ming's method is based on the strategy of "doing everything and doing nothing", which is based on the special capital attributes of Tiansheng Capital.
In this story, Lu Ming wants to tell it as "Bole", investing in a whole set of related companies in the ecosystem and occupying more than 20% of the majority shareholder status.
We need traffic entrances. Now we need to support ByteDance. New energy vehicles need batteries. Invest in Ningde Times, Ganfeng Lithium Industry, etc., and support them.
Make many friends and few enemies.
Since Tiansheng Capital has invested in this series of companies and is still a major shareholder, it has become a communication bridge. There are many issues that the two parties could not discuss or even become sworn enemies. With Tiansheng Capital,
It’s different.
When all the companies in this complex and huge ecosystem have a common major shareholder "Tiansheng Capital", whether they are acting as middlemen or dividing the cake, they can all sit down and have a good talk.
The most difficult thing is to cut the cake, and Tiansheng Capital can do just that.
Cut cake mix cake.
For example, in the industrial chain of the new energy vehicle ecosystem, the upstream companies that make batteries specialize in the battery business. If they become bigger and more refined, they will not have to worry about having no customers. The downstream customers are new energy vehicle manufacturers, and Tiansheng Capital also invests.
As a major shareholder of the company, as long as the products are not too bad and Tiansheng Capital can connect them, they will definitely purchase products from their own circle of friends.
Lu Ming's strategic layout is actually similar to the current mature international semiconductor industry chain. Lithography machines are dominated by Esmore, wafer purification is dominated by Shin-Etsu Chemical, and chip foundry is dominated by Semiconductor Manufacturing Co., Ltd.... Everyone
They are all the leaders in a certain segment of their respective industrial chains, and they get a piece of the pie in that segment of their respective industrial chains.
The status of Tiansheng Capital is equivalent to the North American Semiconductor Industry Association (SIA). The international semiconductor industry chain is like this. Before a new generation of chips is produced, manufacturers from all aspects of the industry chain will go to the North American Semiconductor Industry Association to hold meetings and sit together.
We came down to discuss how many chips of this generation should be produced and how many wafers would be required for purification. Shin-Etsu Chemical took a small notebook to write down the number of photolithography machines needed and Esmore's small notebook was written down.
Obviously, this is also a process of cutting and dividing the cake.
After cutting and dividing, everyone gets their own indicators and starts production.
In the same way, Lu Ming wants to build a new energy vehicle ecosystem. The number of vehicles to be built must be discussed first. After confirming the approximate number, how much production capacity should the upstream battery manufacturers prepare and how much production capacity should the in-vehicle chips have? Those who make in-vehicle systems will focus on this area.
Okay, after cutting and dividing the cake, everyone gets their own quota and starts production.
Lu Ming's strategy is very clear. All affiliated companies in the entire ecosystem have invested, which means doing everything, but not interfering with specific operations, which means doing nothing.
Invite everyone in and create a luxurious circle of friends to form a community of interests. Distribute the cake well and don't interfere with each other's core business. Those who work in the upstream should stay upstream and do their job well. Don't think about the middle and downstream. Those in the downstream should stay downstream.
Don't think about monopolizing the entire upstream industry chain. Make your core business bigger, better and better.
As a result, a "Tiansheng system" interest group was formed. With the transformation and upgrading of science and technology, the concentration of head effects is an inevitable trend. What Lu Ming has to do is to attract the leaders of various subdivisions to friends of the Tiansheng system.
In the industry, the worst you can do is to be the second best in the industry.
Knock out the third, fourth and eighth-ranking people in the industry, and give them a little money to survive, which is about 20% of the market share, and the leading company that occupies 80% of the industry
In the circle of friends of Tiansheng department.
Keeping them alive is circumventing antitrust.
It is quite difficult to realize this grand strategic vision. It has to be pieced together like a jigsaw puzzle to form a complete ecological system and form a perfect closed loop. They are all leading brothers and have tempered masters. It is not natural to twist them together.
It's an easy thing, but Tiansheng Capital is their common major shareholder. Tiansheng can tell the story and piece together this grand blueprint.
