this man is not calm

Chapter 468 Risk Aversion
The investment project was originally planned to incur a small loss, and I didn't expect to make a profit in a short period of time, but the result was much better than I expected.

Jin Shang couldn't guess to what extent the blessing of the "Golden Broom" was at work, or whether it was just a very high-quality emerging agricultural pilot project.

Anyway, the result is good, which is great.

After carefully checking the whole process of the project again, Jin Shang still didn't find any problems. Perhaps only by seeing it with his own eyes could he know where the omissions were.

After letting this go, Jin Shang pressed his sore eye sockets, closed the office page, put aside the remaining unprocessed documents, and turned his attention to Li Xuan, who was chatting while processing documents in a somewhat lazily manner.

"Although men and women working together don't make the work tiring, if they are too familiar with each other, it will affect the work. I see that you are a little worried. What problems have you encountered?"

"There are so many issues, such as delivery disputes, offline services, online payments, real-name authentication, and terminal maps. After receiving an order, it is not easy for the deliveryman to find the destination, and the efficiency is a bit low. There are too many full-time employees, and the cost is too high. If a large number of temporary workers are used, there will be a series of difficulties to be overcome."

"The pain point of maps and real-time tracking! The first problem faced when moving from online to offline is map navigation. Currently, the front-line delivery personnel are mostly locals who are familiar with the local area or have lived in the area for many years."

The era of mobile Internet has not yet arrived, and the day when everyone has a mobile phone is still far away. Means such as portable maps, GPS, and planning of optimal routes are no longer useful.

When you encounter an unfamiliar delivery location, the only recourse besides calling to confirm is to ask for directions.

Mobile phones are very expensive nowadays, and not everyone can afford a PHS.

At a time when remote communication basically relies on landlines, making friends relies on writing letters, and pen pals are still very popular, once the courier receives the goods and leaves and steps into the vast sea of ​​people, it is basically impossible for him to control how the delivery is done.

Except for a few who are full-time, the grassroots employees who are responsible for exploring food restaurants, conducting surveys and collecting statistical data are basically hourly workers who are paid according to the amount of work they do. Occasionally, you will encounter some idlers who just take the money without working and want to take advantage of the situation.

There is no sign of the future era in which platforms use algorithms to clearly arrange all kinds of "riders".

"No wonder many people are not optimistic about our offline life project. The cost is too high and the risk is too great. If it were not for the complementary role of e-commerce platforms, it would be a pure loss-making business."

Without tens of millions of paying users, the hope of making a profit from things like group buying of takeout, community supermarkets, limited-time discounts, and ticket distribution is slim.

If Jin Shang had not used some "advanced" marketing methods to rapidly expand its offline life business, it would probably have collapsed long ago.

Even so, it is not a long-term solution.

The larger the scale, the greater the loss. The profit margin is already low, and the labor cost is rising rapidly, which will lead to very serious consequences.

"Hold on first, and once you have demonstrated higher value, push for financing in the secondary market. After the bottleneck of Jinxi Mall is broken through, the offline lifestyle business will definitely be packaged separately and operated independently."

In fact, there is some overlap between B2C and O2O businesses, but their focuses are too different. It is okay when the scale is small, but once they start to grow, forcing them together is not a good thing.

“Funding!”

Hearing this, Li Xuan sighed with mixed feelings.
“Capital is something like this… You may not like it, but you can’t live without it.”

"Recognize its value, harness its power, and finally tame it!"

"Its instinct to pursue profits is really terrible. It's just my personal opinion and not worth mentioning."

After calming down, Li Xuan continued,

"The greater the risk, the higher the profit. It is difficult to fight against human nature!"

"This statement is a bit of a generalization! I personally think that capital is definitely a profit-seeking thing, but its risk-averse instinct should not be underestimated. Really powerful capital is invested in stable fixed income, and then comprehensively evaluated based on risk considerations, interest on holding funds and time costs, and leveraged to magnify profits, rather than playing the "high-risk, high-profit" game like a gambler."

"That's not right. If you say so, there shouldn't be such a thing as a financial crisis."

"It's not surprising. Human cognition has its limits. When the greed of capital owners cannot be suppressed, or the source and degree of risk exceed the limit, problems will arise. Why do many people agree that 'people cannot make money beyond their cognition'? In the final analysis, this world is a super-grassroots team formed by countless small teams. Don't overestimate the level of those well-known investors. There may be a big gap between people in terms of personal knowledge reserves and execution, but at the level of collective interest communities, the gap in group IQ is very small."

"Then why is it that in the 'capital game', some people always lose and some always win?"

"The possession and distribution of resources is not as fair as IQ!"

Jin Shang explained as a matter of course,

"Why did people in ancient times attach so much importance to the value of land? It is the investment with the lowest risk and the most stable return, no doubt about it. Those who were slightly worse off could study for the imperial examinations and give birth to more boys (to strengthen the labor force and to make mistakes redundant), study medicine and give lectures, and the risks of doing business, joining the military, and going to sea were much greater..."

The further Jin Shang has gone in this life, the more he can understand why his motherland in his previous life did not catch the ride of the Age of Discovery, but was left far behind. The things in history textbooks such as the prosperity of commodity economy and the emergence of capitalism in a certain dynasty, time and place are just for listening, not for believing.

The ancient peasant economy had developed to the upper limit of the ancient civilization, with land value and output far ahead of the rest of the world. From the perspective of capital chasing profits and aversion to risks, even if there was a glimmer of hope, when ordinary people had money, their first consideration would be to buy land to farm, start a family, get married and have children, take the imperial examinations to become officials, and pass on the tradition of farming and studying.

Forget about overseas trade. It's impossible. As long as there is a glimmer of hope, there will be no room for industrial and commercial thinking to survive as long as mainstream values ​​exist.

On the contrary, the situation in the West was much worse. At the end of the 19th century and the beginning of the 20th century, the harvest ratio was only one-tenth of that in the East. The cost of farming was too high and the income was too low. When the Industrial Revolution became more mature and capital became the norm, efficiency and profits began to surpass the primary industry, achieving overtaking on the curve. The decline of Eastern society was inevitable.

The situation in this life is much better, but it is still difficult and dangerous along the way.

"Recognize, understand, accept, and utilize it step by step. We cannot turn a blind eye to its effects, nor can we be controlled by it."

"In other words, the reason why Jinxi Mall is having trouble raising funds right now is because the surface risk is too great?"

"For this reason, new things are always slowly accepted by the mainstream. In addition, there is another more important factor, which is me..."

Jin Shang explained calmly with a complicated tone,
"Since it is a scourge, it must eat meat. The more powerful the capital, the bigger the appetite. They don't just want to take a ride and make some investment returns, but want to swallow the whole 'stall' in one bite. If it is an entrepreneur without a following, there are ways to take away the company's shares and control step by step, but it is not possible with Jinxi Mall. I am too strong." With the strength of Jinshang and Jinxi Culture, as well as the support behind them, it is too difficult to kick the founder out.

Instead of investing tens of billions or even hundreds of billions in Jinxi Mall, it would be better to build an e-commerce platform from scratch, or find a competitor with a little bit of strength to compete with.

"Jinxi Culture has developed too fast. When it was not strong enough, no one cared. But it developed too fast and smoothly. When it showed extraordinary value, small and medium-sized investors were no longer qualified to get on board. Large capital with strength and money is more concerned about the leading power and control. This is exactly what I cannot compromise with, and I have the confidence to refuse."

Naturally, it becomes difficult to reach an agreement.

"Then... take out a loan or issue convertible bonds, and then apply for listing directly on the Growth Enterprise Market. I heard that there are already two e-commerce platform companies listed overseas. They are not as strong as us, and they were founded later, but they can do it. Jinxi Mall can definitely do it too."

"It's too early. Let's consider it again after we become stronger."

"How many years to wait?"

"The revenue should be at least 100 billion!"

"That's going to take a while! At least ten years, and the net investment is estimated to be 20 to 30 billion, which is quite a lot!"

"The most extreme conservative estimate is no more than 50 billion, which is smaller than the pit Lao Huang dug for me. It doesn't matter!"

If the operation is done well, actually so much money is not needed, because under the guidance of Jin Shang, there are almost no detours, and the company's operations can still maintain a break-even point. If the profit margin can be improved, or if the "golden finger" is more powerful, it is possible to reduce the total financing amount to less than 15 billion before listing, or even lower.

Next, Jin Shang will also have to count on the next three-year lease auction of the used car trading market and the Southwest Agricultural Products Market to strive to generate more than 4 billion in revenue and ease the cash flow tension at the end of the year.

"I see you're not nervous at all, so it should be okay! Before we get married, you don't want to go from being a billionaire to a billionaire."

"If that day really comes, will you still get married?"

"Marry me! You can just be deadbeats together. And... it doesn't matter if you owe money. Even if you have nothing, you can probably make tens of billions in your lifetime by singing and selling CDs. If you're willing to risk your life and open a business to sell your body, you can probably make even more."

"Talent" is so confident, but...

"What do you mean by selling your body? How dare you say that..."

"I mean, if you learn acting, act in movies, take notices, help people stand up, endorse products, etc., will it make you do anything shameful?"

"Okay, okay!"

Jin Shang waved his hands, not knowing whether to laugh or cry, ending the topic.

"After this matter is settled and Wei Shuangping returns from vacation, we can go to Dongying to have a look and relax. The beach over there is still quite pleasant at this time of year, but it will be unbearable after a while."

"You don't want to go to the World Cup in France?"

"Forget it, it's too far! It's messy and I don't have time!"

The first half of this year's league ended exceptionally early to make way for the national football team's training and the World Cup schedule.

With two games played in a week, in the first half of the thirteen rounds of the league, Beijing Northern United Football Team ranked ninth, five points behind the fourth to sixth, seven points from the top, and six points ahead of the bottom team.

The competition in this year's Jiazi League is very fierce. Unlike last year when there was a clear distinction between the strong and the weak, there is no one who is absolutely strong, nor is there one who is too weak.

Yan Xiaohong has done a good job as the head coach. Relying on the excellent unbeaten record at home, the team has barely maintained a mid-table ranking, which is much better than the situation last year.

We also reached the quarterfinals of the FA Cup and were very competitive.

In the Chinese national football team's roster for the World Cup, in addition to the famous Ajima who was selected as the main winger, there is also a 21-year-old full-back from his own club. It is said that he is a seeded player reserved by the national youth team to compete in the Olympics in two years, so he can experience the atmosphere of the competition in advance.

Compared to watching the game in a noisy scene, Jin Shang actually prefers to invite three or five friends to curl up on the sofa, drink cold beer, eat barbecue, chat and brag with everyone, and enjoy the fun of football competition.
-
After the number of registered users of the online game Fengshen exceeded 500,000, the growth rate slowed down.

There are only so many Internet users in China, and the channels for accessing the Internet are narrow, so the total number of people who can play online games is just so-so.

With hard work, there is still hope of breaking through one million by the end of the year, but this requires cooperation from many aspects. It is not enough to just work hard and spend money on publicity.

Yin Feiyang is still trying to find ways to increase user stickiness, to keep players who have "entered the game" as much as possible, make them more active, and enhance their social attributes.

There was some good news in the middle of the year. Yin Muye and Li Rong, graduate students, finally agreed to work at Jinxi Culture after weighing the pros and cons. With such a "great talent" taking the lead, some younger generations from their alma mater were also willing to give it a try.

The treatment of Jinxi Culture's employees is obviously much higher than that of its peers in Beijing. Unlike ordinary private enterprises, you can tell at first glance that the boss is rich, has ideas, and is a large group with a big picture. Its two listed companies have a total market value and valuation of tens of billions, and there is enough room for advancement, which is a much higher starting point than working in a boring office in an enterprise or institution.

Regardless of whether your major is relevant or not, Jinxi Culture will accept you all. After pre-job training, we will try our best to arrange your work according to what you have learned, your expertise and personal wishes, so you will never have to worry about not having room to display your talents.

The technical center led by Yang Qi felt much more relieved of its burden after it accepted a group of highly educated college students from prestigious universities.

When things were back on track and Wei Shuangping ended her honeymoon and took over the management of Jinxi Mall again, Jin Shang was finally freed from the busy chores and had time to go around and take a look.

There are so many subsidiaries and branches across the country, but the boss has never visited them once, which is not quite right.

(End of this chapter)