I really don't want to be in the entertainment industry.

Chapter 371 Three Years (Seeking Subscription Support!)
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Time flies like water.

In an instant, three years passed.

In the past three years, Xu Kai has lived a very fulfilling life.

Three years ago, after Xu Kai sold the follow-up copyright of "Detective Chinatown" at a price of 50 billion, he shifted his work focus to Hollywood, planning to use Hollywood's powerful influence to turn himself into an international superstar, and to the world Spread Chinese culture.

No, Xu Kai took too many steps if he was not careful.

这三年时间里，徐开主演和出演了《尖峰时刻2》、《尖峰时刻3》、《尚气》、《尚气2》、《钢铁侠2》、《队长2》、《雷神2》、《浩克2》、《复仇者联盟》以及不少其它好莱坞电影。

"Rush Hour 2" and "Rush Hour 3" starring Xu Kai and the previous "Rush Hour" are actually the key to Xu Kai's entry into Hollywood.

These three "Rush Hours" let Europeans and Americans really know that there is another Chinese superstar named "Yu Qingyun" in this world.

Moreover, the global box office of each of the three "Rush Hour" has exceeded 4 million US dollars, and all of them have entered the top [-] in the global box office market.

However, although the "Rush Hour" series has a high global box office, its box office mainly comes from North America and China. In European countries and regions, its audience is relatively limited.

The audience of the key "Rush Hour" is relatively older, and their impression of the Chinese has been deeply ingrained.

In other words, although these people like Xu Kai's "Rush Hour", they can't become Xu Kai's fanatic fans, and they can't change their image of Chinese.

What really made those young audiences fall in love with Xu Kai was the Chinese superhero Shang Qi and the Marvel superhero movies released successively in the past three years.

It is Shang Qi and numerous Marvel superhero movies that make Xu Kai a world-famous superstar in countries and regions where Marvel superheroes can radiate.

The Marvel series of movies not only made Xu Kai a household name, but also made Xu Kai countless money-even the two Shangqi independent films that Xu Kai thought he would lose money at the beginning, "Shangqi" and "Shangqi 2", both of which were still worthless. Let Xu Kai make a lot of money.

Let's put it this way, just by making a few Marvel movies, Xu Kai easily repaid the 100 billion he borrowed from Minxin Bank.

After becoming famous, Xu Kai has starred in several films tailored for him by other Hollywood film companies and Hollywood directors, such as "Lover's First Kiss 2" (also starring Xu Kai and Sophie March), "Mr. and Mrs. Smith" (a screenplay contributed by Xu Kai, starring Xu Kai and Nicole Johnson), "The Expendables" (a movie similar to Expendables, starring Xu Kai and Johnson) and so on...

Xu Kai has also appeared in many movies as a guest star, such as "The Matrix", "Autobot 3", "Wizard 5", and dubbing characters in several Hollywood animations, etc...

In short, in the past three years, Xu Kai has been very active in Hollywood.

The key point is that Xu Kai not only acts in movies by himself, but also directs movies himself as a director.

Seriously speaking, Xu Kai was actually more successful as a director than he was as an actor.

Because Xu Kai directed "Forrest Gump", "The Shawshank Redemption", "The Truman Show", "When Happiness Knocks on the Door", "Schindler's List", "The Godfather", "Life is Beautiful", etc. He has won numerous award-winning films, and has also directed "Inception", "Avatar", "Titanic", "Jurassic World" and other films that occupy the top few box office rankings in the world's movie box office.

When Xu Kai first started working as a director in Hollywood, he just wanted to make more money to ensure the smooth shooting of his Marvel superhero movies.

But with the explosion of "Forrest Gump", after Xu Kai gained both fame and fortune, Xu Kai felt that the fame and fortune should not be in vain, so he produced "The Shawshank Redemption", "The Shawshank Redemption", "The Truman Show", "When Happiness Knocks on the Door", "Schindler's List", "The Godfather", "Life is Beautiful" and other movies.

Over the past year or so, Xu Kai has become more and more confident in his fame and strength, so he wrote, directed and acted in "Inception", "Avatar", "Titanic", "Jurassic World" , ready to reap a final wave of box office before leaving Hollywood.

in fact--

In addition to wanting to get some more wool, Xu Kai wrote, directed and acted in the four films "Inception", "Avatar", "Titanic", and "Jurassic World" as a last resort.

For example, Xu Kai made "Titanic" because Sophie March always wanted to star in an artistic love movie, so Xu Kai wrote, directed and acted "Titanic" for her.

And Nicole Johnson saw that Xu Kai wanted to make a movie for Sophie March, so it made no sense not to make a movie for her. After all, she has been serving Xu Kai with all her heart for more than two years. She gave birth to a son to Xu Kai.

Therefore, Xu Kai, who didn't want to favor one another, filmed "Avatar" for Nicole Johnson.

As for "Inception" and "Jurassic World", Xu Kai filmed for Zhu Bing, Zhang Zhiwei and Zhang Xiaosu.

Honestly -

During Xu Kai's three or four years in Hollywood, his biggest achievement was actually not in movies, but in soundtracks and music.

In the past few years, Xu Kai has composed music for dozens of Hollywood movies, and he has covered the achievements of major music in the world in just one year, and has released many songs that are praised and sung by Europeans and Americans.

Moreover, Xu Kai also took the time to go to many states in the beautiful country and many countries in Europe to hold personal concerts. The Big Bird Band has also become the world's most famous band with Xu Kai's unprecedented achievements in the field of music.

So, seriously speaking, Xu Kai's achievements in the field of music may be higher than his achievements in the field of movies.

in fact--

The reason why Xu Kai is willing to work tirelessly to score other people's movies, including guest appearances in other people's movies, is mainly because he wants to exchange favors for Chinese actors to star in Hollywood movies.

Not only other people's movies, but also Xu Kai's own movies, Xu Kai also added Chinese actors as much as possible.

Of course, the premise is that it doesn't affect the quality of the movie too much.

Unlike other Hollywood filmmakers who like to use squint-eyed Chinese actors, the Chinese actors used by Xu Kai are all handsome men and beautiful women, and they are rarely given absolute villain roles, so that they, who represent the Chinese in the new era, can contribute to The Chinese bring out positive influences.

Thanks to Xu Kai's efforts, many Chinese actors have been able to gain experience in Hollywood, and even come to Hollywood to develop.

The Chinese also completed the largest cultural export in modern history in the past three to four years.

At the same time, Xu Capital has also completed further expansion because Xu Kai has made a huge amount of money in the film market in the past three to four years.

There is a word often heard in the capital market - "gambling".

Anyone who pays attention to the domestic capital market will definitely find that the word "VAM" appears very frequently.

Because of the gambling, some people laughed at the end, some fell to the bottom, some went bankrupt, and some even went to jail.

It gives people the impression that many domestic bigwigs have to go through several baptisms of gambling before they can finish fighting monsters and upgrade and become big bosses.

So, what is a VAM agreement?

As the name suggests, it is actually a bet agreement, that is, a bet between the financing company and investors. Generally, when everyone is financing, they have to set a target for the company. If the company completes the target according to the requirements Yes, even if the financing company wins the bet, if the target is not met, the investor wins the bet, and then the loser will have to pay the winner something, such as money or equity.

This is the gambling agreement.

Xu Kai didn't know when the gambling agreement in this life was developed—it might have been during the ten years he was in prison.

What Xu Kai knew was that Mengniu was the first public case of VAM in his previous life.

At the beginning of 2000, Yili was the absolute leader in the milk market, with a market share of more than 30%.

This is also normal, after all, Yili was listed on the A-share market in 96.

But on the way, a Mengniu came out.

Under the leadership of Niu Gensheng, the founder of Mengniu, Mengniu was really in a hurry in those few years.

Incidentally, Niu Gensheng, the founder of Mengniu.

In fact, Niu Gensheng worked in Yili at first.

When Niu Gensheng was in Yili, he was really capable. He became a vice president all the way through his strength. The team he led achieved 80% of the performance in Yili.

Later, there were rumors that there were some power struggles within Yili. Anyway, Niu Gensheng went it alone and founded Mengniu.

As a result, after Niu Gensheng was born, nine executives in Yili gave up Yili's high salary to follow Niu Gensheng to start a business.

Then, one after another, hundreds of Yili employees rushed to tell each other to join Niu Gensheng.

Mengniu immediately had an experienced entrepreneurial team.

However, even so, Mengniu's first-year revenue alone was only more than 3700 million.

But just four years later, by the end of 4, this figure had become 2003 billion, a full 40-fold increase.

Later, some people even called Niu Gensheng "the father of the dairy industry" because of Mengniu's achievements.

The dairy industry is a kind of economy of scale, that is, you have to get all these cows in the first place, and at the same time get the supply chain in order.

Anyway, the initial investment cost of the dairy industry is very high, and then the marginal cost in the future is very small.

For this kind of industry, as long as the market still has potential, it means that the more you expand, the more you will earn.

Therefore, for Niu Gensheng, as long as the market capacity is large enough, if he wants to make more money, he needs to expand and expand.

What does that expansion entail?
Of course it's money.

Then came the problem. For Mengniu, a private enterprise that was not yet well-known at the time, it was impossible for him to obtain a large amount of money from the bank.

It is no problem to say that Niu Gensheng is very good at making products and marketing, but when it comes to the capital market, Niu Gensheng was blinded, so he was very anxious at that time.

Fortunately, Mengniu, which was in urgent need of money at the time, was targeted by the capital Morgan Stanley.

At that time, China had just joined the WTO, and the living standards of the Chinese people were improving rapidly. Therefore, although the dairy industry had not developed vigorously at that time, the market potential was huge.

At that time, Yili, the industry leader, was already a state-owned asset and had been listed for three years. For Morgan Stanley, it was simply impossible to squeeze in.

So Morgan Stanley took the idea to Mengniu, which was developing well at that time.

Therefore, when Mengniu was most short of money, Morgan Stanley joined forces with CDH and Actis to find Niu Gensheng.

On the one hand, high-quality companies lack money, and on the other hand, rich companies lack high-quality companies, and the two hit it off.

In 2002, Morgan Stanley invested $2600 million in Mengniu.

In the following year, Mengniu grew rapidly, and then ran out of money.

So, Niu Gensheng found Morgan Stanley again and asked Morgan Stanley to invest again.

Morgan Stanley definitely has money, but he is afraid that Mengniu will not be able to get on the market, and they will not be able to make money.

In order to protect its own interests, Morgan Stanley told Niu Gensheng that we are very optimistic about Mengniu, but the Chinese market is full of variables, so it is okay to invest money. We are willing to invest another 3523 million US dollars in Mengniu, but we have one condition ——Let’s set a goal. If the compound growth rate of Mengniu’s revenue exceeds 50% in the next three years, our management will give you another 7830 million shares (equivalent to about 6% of Mengniu’s shares at that time). Conversely, You Mengniu have to give us 7830 million shares.

Morgan Stanley has a very good idea. If Mengniu’s performance soars, and the annual growth rate can exceed 50%, then it can be easily listed. Even if I give some rewards to the management, it is reasonable. It doesn’t matter if it doesn’t rise so high , I can still get some shares as compensation, in short, I don't lose money no matter what.

Niu Gensheng first faced the pressure of lack of money, and secondly, he also had confidence in Mengniu. The key point was that Niu Gensheng could not get money through other channels.

Therefore, the two parties reached a VAM agreement, and the VAM started.

It may be that Niu Gensheng is really capable, or it may be that the current situation creates a hero, or it may be that Mengniu is lucky. Anyway, Mengniu, which has received investment, has developed rapidly. It took three years for it to be listed on the Hong Kong Stock Exchange. The phenomenal marketing performance has doubled. In 2005, it surpassed Yili to become the leader in the domestic dairy industry, and easily won the VAM agreement.

Mengniu won the VAM agreement, the management got more than 6000 million shares, and directly cashed out billions of Hong Kong dollars. Although Morgan Stanley lost the VAM agreement, Mengniu was listed and its stock price has been going up, so it directly invested in the second Cashed out 26 billion Hong Kong dollars in the super market, and the rate of return on Mengniu directly exceeded 550%.

Both parties have achieved a win-win goal.

From this example, the so-called VAM agreement is actually some overlord clauses added by the investor in order to avoid some uncertainties in the future when financing.

Some people may say, what an overlord, didn't Mengniu win?

That's right.

Mengniu is winning.

But the problem is, you don't know what will happen if you lose.

Take the example of South Beauty.

Some people may not be familiar with the brand "South Beauty", but when it comes to Big S and her husband, Wang Xiaofei, one of the Four Young Masters in Beijing, there may be no one who doesn't know about it.

South Beauty is a high-end chain restaurant brand founded by Wang Xiaofei's mother Zhang Lan. It was extremely brilliant in 08/09/10.

Zhang Lan claims to create a LV in the Chinese food industry.

Since its establishment in 2000, South Beauty has overcome all obstacles.

By 2008, South Beauty was the only Chinese food provider for the Olympic Games, with 70 stores across the country, with a daily net profit of 200 million and a valuation of 20 billion yuan.

Zhang Lan said that wherever there is LV in the future, there will be South Beauty. In the next ten years, we will become the top 500 in the world, and in the next ten years, we will become the top three in the top 500.

Zhang Lan's business is so smooth, Zhang Lan naturally thought of going public.

Before going public, Zhang Lan wanted to work hard to raise some money.

At this time, CDH Capital came again.

CDH may have benefited from VAM, and here at South Beauty, he played VAM again.

What are you betting on?

Just bet that South Beauty will go public in 4 years.

If successful, it will be successfully listed, and there will be no rewards.

If it fails, I'm sorry, Ms. Zhang Lan, you have to return all the previous investment funds to me, and you have to add a "reasonable" rate of return, which is 20% per annum.

Moreover, CDH also took precautions against the worst situation, that is, it added additional clauses, that is, what should Zhang Lan do if he can't get the money?
That's okay, I, CDH, can take Zhang Lan's shares and sell them for money.

Anyway, it is to ensure that CDH can make a steady profit without losing money.

Ordinarily, Zhang Lan should not agree to such a harsh condition.

After all, the risk of engaging in the catering industry is not too great, and the cash flow is so stable. She can make money slowly and steadily.

But Zhang Lan went so smoothly at that time, her self-confidence was bursting, she saw that all catering companies such as Quanjude and Xiang'eqing were listed on the market, and their development momentum was good, and she felt itchy.

In addition, CDH has capital and experience in listing, so listing is a certainty for South Beauty.

Zhang Lan thought again, taking a ten thousand step back, this bet is nothing more than some money, even if I fail to achieve the goal, at worst, I will pay you some money.

Therefore, Zhang Lan happily agreed to the VAM agreement.

Zhang Lan, who got the investment, was also very popular for a while, giving speeches everywhere, and she seemed to be the most awesome female entrepreneur in China. Wang Xiaofei also married a big S in a high-profile manner.

South Beauty also submitted an application for listing on A shares in 2011.

But the good times didn't last long. In January 2012, the relevant departments announced the list of termination IPOs.

This includes a lot of companies in the catering industry, and South Beauty is on the list.

The reason given at that time was because the catering industry, its procurement and sales end, had a lot of cash transactions, so there was no way to guarantee the authenticity of the financial report.

Zhang Lan was stunned for a moment.

Because at that time, there were only 8 months left before the final effective deadline of the VAM agreement.

Zhang Lan could only rush to Hong Kong to go public again.

As a result, Zhang Lan ran into a global stock market crash, so there was a time order that Chinese private companies should not be listed overseas.

This is actually a decree to protect Chinese companies.

Of course, there are also rumors that South Beauty was unable to go public because of its financial problems.

Anyway, the listing in Hong Kong did not succeed.

Both IPOs failed.

Thus, the repurchase agreement in the VAM agreement was triggered.

However, South Beauty was hit by the financial crisis in the past two years. Zhang Lan ran out of money and could no longer afford to buy back CDH's shares.

This further triggers the second layer in the VAM agreement, called dragging rights and liquidation priorities.

Capital is the most ruthless. CDH directly found CVC, a big private equity firm in Europe, and sold 3% of South Beauty held by CDH and Zhang Lan for US$82.7 million.

CDH took the money and left happily.

Later, CVC tried to revive South Beauty by doing things here and there, but in the end, it didn’t know whether it was due to incompetence or something. Anyway, it failed to save South Beauty.

But the founder Zhang Lan left the scene sadly, the scenery was gone, and the family affairs became a mess.

in fact--

There are very few examples of VAM like Mengniu. In the world of capital, there are more examples like South Beauty.

What most capital likes to do most is relying on being the father of the funder, and they don’t bet with you on performance development. They just bet with you on whether you can make money for me. If you can, I will support you. If you can’t, I will destroy you. , without hesitation.

That is to say, when you go public, I will withdraw from the secondary market with money. It doesn’t matter if you can’t go public, I will sell your company, and you will bear the debt, and I will still make money and leave.

The most important thing is that most of the VAM agreements are signed at the founder's personal level, which leads to the founder being infinitely linked, and even bankrupt and imprisoned.

Therefore, the VAM agreement may seem fair, but it is not.

As long as the VAM agreement is signed, the investor will definitely make money and make money together. Losing money, going bankrupt, and going to jail will all belong to the financing party and the founder. The investor will have zero risk, even if the company loses money. Investors will also make a lot of money.

Therefore, this seemingly fair bet actually greatly reduces the risk of the investor, and the risk is all thrown to the financing side and all to the founder.

Moreover, some capital is even so arrogant that there is no reward at all for winning, and there will be great punishment for losing, so the VAM agreement has become a penalty clause.

And because Xu Kai, a person with far-sighted vision, sits in the city, and because Xu Kai himself is not a qualified capitalist, Xu Capital seldom signs any gambling agreement with the financing party, and generally does not kill the financing party. He will not abandon the financing party easily, and he will definitely help if he can save it.

The key point is that Xu Kai never ran away after making money—in many cases, he stood with the founder until the end.

The key point is that Xu Kai has never intervened in the operation of the founder team, and has always been an extremely reliable major shareholder.

Therefore, Xu's capital is often called the most conscientious capital by entrepreneurs, and Xu Kai is also known as a great benefactor in the capital world.

The most important thing is that Xu Kai, who has made countless money in the entertainment industry, always has a lot of liquidity in his hands.

This has also led to those entrepreneurs, once they are short of money, they will first find Xu's capital for financing.

And Xu Kai will use his advanced vision and knowledge to pick out projects with development vision and invest in them.

After coming and going, Xu Kai invested in hundreds of companies.

Most of the companies that Xu Kai invested in are very competitive, and some market values ​​have exploded in a geometric trend.

As a result, in just a few years, Xu Kai became the richest man in the world, and his total assets were dozens of times that of No.2. The key point was that this part of his wealth was only revealed by Xu Kai...

……

(End of this chapter)