Reborn with Consumption System

"If we’re only following with 5%, it shouldn’t take $30 million, and the safety issue isn’t too big..."

But just as the words were spoken, they were drowned out by opposition.

"Nan Peng, we definitely can’t get the majority of Byte’s equity this round. Once Tianhang hands all the voting rights to Zhang Yiming’s team, they’ll always maintain an absolute power above 67%, which is too dangerous."

"Nan Peng, we can’t set a precedent!"

"$30 million isn’t much, but it’s an uncontrolled $30 million! No exit demand, no repurchase request, no priority... Charity isn’t done this way!"

"Tianhang is messing around, let’s just watch, we can’t follow this."

"Bro, Zhang Yiming may indeed develop Byte well, but I’d rather spend $2 billion in the D round to secure the rights than gamble on winning this unguaranteed $30 million!"

"Yes, principles can’t be broken. We are a professional investment institution; even if investing $1 million in an angel round, what is due must be demanded!"

Shen Nanpeng knew everyone’s opinions were correct, so he didn’t argue further.

Venture capital is like this—I can accept legitimate risks, but I can’t lose control because of someone else’s madness.

No rules, no Fang Yuan!

"Alright, then officially notify Byte: we won’t follow this financing round."

After the meeting ended, the partners were still full of resentment and humor towards Tianhang.

"Madman!"

"Newcomers entering the scene, always wanting to make big news."

"Don’t mind them. These newcomers with no risk awareness at all, even if they luckily invest in Tencent or Ali, will end up losing to bankruptcy!"

"I know that Han Lie, he’s really good in the secondary market."

"What’s the use?"

"Right, earning billions isn’t enough for him to squander like this!"

"Haha, let’s just wait to see the joke!"

"Next time he invests in something, should we avoid it? Feels like a guiding dim lantern..."

Everyone laughed and joked, not taking too seriously the loss of Byte’s Series B financing.

Although Byte now has some momentum, uncertainty remains high, and the risks from public opinion are visible to everyone.

Maybe not as clearly as Han Lie sees it, not at such a high perspective, but everyone is familiar with the cautionary tale of Fanfou.

Otherwise, with Toutiao’s DAU, its valuation wouldn’t be only $500 million.

If you block comments, suppress creators, user engagement and commercial value will be greatly impacted.

If you’re too laissez-faire, only seeking hype, the regulators will come knocking.

A news distribution platform centered on recommendations—how far it can really go, remains unknown.

Shen Nanpeng felt the greatest regret, but it was not unacceptable.

The name Sequoia is his source of confidence.

If Byte really develops, then, even if the D round valuation reaches $15 billion or $20 billion, Sequoia can keep up.

By then, Tianhang, what will you rely on to resist?

Rely on your reckless madness that demands nothing?

Heh, ridiculous!

...

When Sequoia’s receipt reached Byte, Zhang Yiming felt some regret, but not much surprise.

Zhang Lidong placed rejection letters from Sina, Shunwei, IDG, and Minte alongside Sequoia’s and shook his head with a wry smile.

"All shrunk... Yiming, do you think, was Mr. Han doing it on purpose?"

Zhang Yiming casually replied, "Even if it was on purpose, so what? The benefits are solidly in our hands; I’m not bothered to guess his thoughts."

"This guy is too powerful."

Zhang Lidong suddenly sighed with a sense of admiration.

"I’ve decided I’ll definitely spend more time chatting with him in the future, really build a friendship there, there’s so much to learn..."

"Mhm."

Zhang Yiming responded, his eyes still fixed on the computer screen, his mind completely elsewhere.

"As long as he maintains this attitude, then he’s our good friend. The stronger he is, the happier I am..."

"Great, with him around, it feels like we can’t suffer financially."

Zhang Lidong tidied up the documents and prepared to leave.

Before leaving, he suddenly asked, "By the way, I’m planning to pledge some shares to cash out and invest with him, see if I can earn some capital appreciation. How about you?"

"Sure, I’ve consulted friends in finance, and Mr. Han is really formidable in this area, just recently floored a few veteran private equities, an uncommon standing in the industry."

"Then that’s settled, let’s slowly proceed with the process, we can announce by mid to late May."

"OK, send my regards to Mr. Han, we’re family from now on."

"Next week, I’ll head to Magic Capital for a look. Bye!"

Zhang Lidong walked out with his documents, busy with his work.

Zhang Yiming clanged on the keyboard, completely forgetting his initial intention to limit Han Lie’s shareholding.

Some people, you just can’t limit.

If they have the vision, the magnanimity, the strategy, what do you have to oppose them with?

When you encounter such people, exchange sincerity for sincerity, and do your best to befriend them.

Ten or twenty years from now, if both achieve something, it’ll be a remarkable story to tell.

So what if it’s a 20% equity stake?

It’s all yours!