Reborn multinational giant

However, after careful consideration, those shared bicycle and shared car projects have not been completed, and there is an inevitability. The problem that Mr. Guo said at the moment is one of the important reasons.

The business model of heavy asset operation has extremely high requirements on corporate management and cost control. Otherwise, it will become a loss-making business if you are not careful. Obviously, whether it was ofo or Mobike or other shared projects in the previous life, there was no This ability.

When Mr. Guo saw Fang Zhe nod his head, he was delighted. It seems that his instincts are not wrong. These so-called sharing economies are really not reliable.

"Then, it seems that Mr. Fang, you don't have any plans to invest in such projects?" Mr. Guo asked again.

Fang Zhe shook his head and said, "Is there any, or whether to invest in this type of project? The people in the investment department below will decide. I believe in their ability and vision."

Fang Zhe’s answer was somewhat ambiguous. He neither said to vote nor said not to vote. Mr. Guo didn’t get a definite answer and didn’t ask any more. Anyway, the main purpose of his appointment with Fang Zhe today was to get acquainted with Fang Zhe. , Paving the way for more cooperation between Fosun and Huizhong in the future.

The two talked from Internet + to sharing economy, and then to new energy vehicles that have become more and more popular in recent years, and foreign investment experience, etc. After a conversation, Mr. Guo admired the other party in his heart. I have never seen a person like Fang Zhe who is so capable in his twenties.

If you want to come to Fang Zhe’s achievements, even if placed among his peers in history, it is second only to some princes and generals who opened up territory and great scientists with outstanding inventions. At least in modern business circles, Fang Zhe’s achievements at this age The achievement is unprecedented, even unparalleled.

On the plane back to Yanjing, Fang Zhe recalled the sharing economy that he had talked about with Fosun Guo. Although he did not clearly tell him whether to vote or not, Fang Zhe actually knew that Zhongying Capital had invested in ofo last winter. , And Huizhong, not surprisingly, will also participate in the investment in ofo's subsequent financing.

If Fang Zhe knew that sharing projects like ofo in his previous life had become a mess of losing money, he would definitely not choose to invest in these projects. But now, sitting in Fang Zhe’s position and considering the perspective of things, It has not only started from the quality of the project and whether it can be profitable.

Fang Zhe knows that the sharing economy will become one of the most popular topics and outlets in the next two to three years, and there will be countless "success stories" hyped up by capital.

But in fact, venture capital has always been played in two ways, one is value investment, the other is to spread flowers through drums.

The former are friends who are optimistic about a certain project and grow with it, making time investment, such as Softbank's investment in Alibaba, Apple's investment in Huizhong, etc., all fall into this category.

The latter belongs to the chasing enthusiasm, as long as you can find the receiver to cash out smoothly, no matter what the flood after he leaves the field.

Although ofo has become a mess in the previous life, there are not a few investors who have made money from it. For example, ofo’s angel investor and founder of Jinshajiang Venture Capital Fund Zhu Xiaohu, because of the early enough investment, he later came to BAT to take over Still earning a lot of wins when leaving the field.

Of course, in Fang Zhe and Huizhong, it is not realistic to want to play the game of drumming and spreading flowers, because other investors and venture funds are not fools. Even Huizhong will cash out and leave the market. Who will come to take the market? Can you pick up Huizhong's disk?

Fang Zhe did not oppose Huizhong and Zhongying Capital's investment in ofo and other sharing economy projects. There are two main considerations. First, these projects are still in the early stage, and the admission fee is very cheap. You can get it with just a few million or tens of millions. A lot of original shares, these projects will still be profitable even if they are bad in the future.

Secondly, the sharing economy is actually an extension of the O2O economy. The number and frequency of its users are very high. The total number of users of shared bicycles in the previous life of ofo and Mobike, as well as other large and small shared bicycles, is two to three billion. During peak periods, The daily order volume exceeds tens of millions.

Such a large order volume and user daily life, although it is not a big deal for the existing transaction scale and data volume of Alipay and WeChat Pay, but let it be given to the lingering Tencent Tenpay and Sunset Xishan Alipay, and give them a renewal. The last breath was not what Fang Zhe wanted to see.

In Fang Zhe's own words, even if ofo loses money in a sharing economy project, this pit must be taken up!

On the morning after Fang Zhe returned to Yanjing, he asked his secretary Li Wen to notify Fu Xinming, the person in charge of Zhongying Capital, and Huang Siyi, the person in charge of Huizhong Investment Department, to report to his office one after another on the latest work situation.

Zhongying Capital basically belongs to Fang Zhe's own private fund, so in terms of investment direction and investment logic, most of the time it is invested in accordance with Fang Zhe's intention.

Moreover, Zhongying Capital basically only invests in the early stages of the project, with a small investment and large returns. In addition to the foresight of the rebirth of Shang Zhe, the shortcomings of the high risk of traditional venture capital projects in the early stage are almost non-existent. Therefore, Zhongying Capital can be described as The results are remarkable, byte beating 10%, are you hungry 12.5%, Jingdong 3.2%, Meituan 4.3%, etc.?

According to Fang Zhe’s estimation, Zhongying Capital’s investment has made more than $30 or 40 billion in book profits since its inception. If we wait for these projects to appreciate in a few years, Zhongying Capital’s book profit will exceed $100 billion. !

"President Fang, as expected, since the end of last year, the investment circle seems to be a little panicked. Anyone who writes a PPT and brags can attract investment.

The development achievements of Huizhong in just a few years and the O2O trend you put forward in the past two years have not only made many entrepreneurs crazy, but also made many investors crazy. Every fund wants to invest in the next Huizhong.No matter how bad it is, I want to vote for the next Meituan and take a taxi.Fu Xinming smiled and reported his work to Fang Zhe. Since joining Zhongying Capital and becoming the head of Zhongying Capital in China, he can be regarded as witnessing and trading the investment record of Zhongying Capital.

If he was a little confused in the past few years and could not fully understand Fang Zhe's investment logic, he has gradually become familiar with Fang Zhe's investment logic in the past few years, and he is deeply impressed by it.

Under the influence of Fang Zhe, his sensitivity to outlets and projects has grown into a small group of top people in China and even in the world.

Fang Zhe personally refilled a cup of tea for him, and asked, "How about it, have you found any good projects recently?"

Fu Xinming's eyes lit up, and Mr. Fang was checking homework.

"President Fang, what are the criteria for good projects? If you want to talk about profitable projects, there are a lot of them. If you want to talk about long-term investment value, let's be honest..." Fu Xinming paused before continuing: "not a single one."