Entertainment mogul: Starting his business with the internet

Chapter 452 Countermeasures
Despite the deep of night, the headquarters of Alibaba Group in Hangzhou remained brightly lit.

For major internet companies, programmers working overtime is commonplace, but the tense atmosphere in the office building at this moment is far beyond what is usually the case.

Inside the chairman's office, Ma Jieke sat upright at his desk, his brows furrowed, his eyes fixed intently on the computer screen as he meticulously reviewed the WeChat red envelope update announcement recently released by Tengda Group.

"This is terrible!" he murmured.

Ordinary users might glance at this lengthy announcement, but as the head of an internet giant, he keenly sensed that:

WeChat, the super platform that "connects everything," is not only profoundly reshaping the landscape of internet finance, but also continuously penetrating into social scenarios.

Its competitive advantage has become increasingly solid, almost irreplaceable. The sudden launch of WeChat red envelopes caught Alipay off guard.

Jack Ma was distraught. If Alibaba didn't take action soon, the gap between Alipay and WeChat Pay would only widen.

He immediately picked up his phone and dialed the group's office, ordering an emergency meeting of senior executives to be held overnight.

The executives who received the notification tacitly understood: the chairman's late-night call must be to address the newly launched WeChat red envelope feature. Everyone rushed back to the company, frantically devising countermeasures along the way.

At the same time, at the National Drama Awards ceremony in Beiping, the celebrities participating in the event gradually learned about the trending topics on Weibo.

The terms "new WeChat feature" and "WeChat red envelopes" firmly occupied the top spot on the list, and their dazzling popularity made many people secretly sigh: tonight's grand ceremony may have to become just a background backdrop.

WeChat updates affect everyone and naturally attract a lot of attention. In addition, Tengda Group's efforts to promote WeChat red envelopes will inevitably lead to increased traffic support from the Weibo platform to ensure that the trending topics are at the top.

At the end of the restroom corridor inside the event venue, Fan Bingbing, dressed in a dark green velvet dress, stood alone by the window.

Seeing that no one was around, he dialed his agent Mu Xiaoguang's number, his tone tinged with helplessness: "Mr. Mu, don't bother with the press release, it's a waste of time."

She had hoped to ride the wave of popularity from the event, but it coincided with a WeChat update, making her efforts futile.

"Understood." Mu Xiaoguang's voice remained calm and steady. "The National Drama Awards have been overshadowed by us for the past two years, and we can't recover. There's no need to participate in the future; it's a waste of time."

Fan Bingbing nodded in agreement: "This event is really unlucky. Last year it coincided with the richest man's birthday and Liu Shishi's official endorsement announcement, and the event didn't make a splash at all; this year is even worse, it just happened to coincide with WeChat's update."

"That's not important. I have something important to tell you. Is it a convenient time to talk?"

"It's convenient, and there's no one around."

Mu Xiaoguang's tone suddenly turned serious: "Zhang Zhao has come to Beiping. I invited him to dinner tonight and got some important information."

Fan Bingbing's heart tightened, and she quickly asked, "What news? What did he say?"

Since Liu Rong took over from Zhang Zhao, the relationship between Tengda Culture and her studio has become increasingly distant, and recently it has taken a sharp turn for the worse, making her feel somewhat uneasy.

"Zhang Zhao said that Liu Rong plans to sell the studio shares held by Tengda Culture."

"Huh? How could this happen?" Fan Bingbing was shocked. This meant that the two sides would be completely severed, which was definitely not a good thing.

Mu Xiaoguang sighed helplessly: "I don't know the specific reason. I plan to visit Liu Rong before the New Year to see if there is any room for negotiation."

"Our relationship with Tengda Culture cannot be severed; it must be maintained for at least another year." Zhang Zhao also revealed that Tengda Culture has a major project next year involving Hollywood resources.

Suppressing her anxiety, Fan Bingbing asked curiously, "What project? They're shareholders of Lionsgate, are they going to co-produce a movie?"

"Transformers 4!" Mu Xiaoguang's voice was filled with disbelief. "Next year, Tengda will co-produce this mega-production with Paramount, and Tengda Culture will be responsible for casting several important supporting roles."

Fan Bingbing's breathing quickened instantly. Transformers is a top Hollywood IP; even a supporting role is an excellent springboard to international success.

"You know what I mean. No matter the cost, we have to drag this out until the casting for Transformers 4 is finished."

At this critical juncture, if Tengda Culture is no longer a shareholder of the studio, you have absolutely no chance of winning this top-tier Hollywood production.

Fan Bingbing took a deep breath: "Of course I understand the logic. But Liu Rong is not Zhang Zhao. I've tried beauties and money, but they're useless."

Mu Xiaoguang felt a headache coming on. The president rotation system implemented by Tengda Group had made most of the effort they had put into Zhang Zhao go to waste.

"No one is without weaknesses. I'll send someone to investigate first. Tengda Culture's attitude changed so suddenly; there must be something we don't know about inside."

"That's all we can do." Fan Bingbing was also at a loss at the moment. When it came to handling daily affairs, she was indeed not as good as Mu Xiaoguang.

"By the way, is there any news from Mr. Xu?"

Fan Bingbing shook his head: "No. The entertainment industry is now dominated by internet capital. It's no longer the era of coal bosses and real estate developers. He can't get any good resources."

After hearing this, Mu Xiaoguang suggested, "In that case, why not look for something more substantial and get a few sea-view villas? Hengtai's development of those large villas is quite nice, and their value is not low."

Fan Bingbing responded, "Don't worry, I know what I'm doing. Let's meet in person tomorrow; things are too complicated to explain over the phone."

At 11 p.m., the lights were on in the conference room at Alibaba Group headquarters, where all the senior executives in Hangzhou were present.

Ma Jieke sat in the main seat and said in a deep voice, "I apologize for calling everyone so late, but it's an emergency! Our opponent is stronger now, and Ali can't afford to waste a single second."

He paused, his gaze sweeping over everyone: "I'm sure you all know what the meeting is about, and you've probably thought about it on the way here."

Everyone, please speak freely and share your suggestions. Penglei, as the president of Alipay, you bear the heaviest responsibility, so please speak first.

Peng Lei was already prepared and said loudly, "President Ma, I have carefully studied Tengda's update announcement and figured out some things."

The announcement mentions financial security guarantees, fund flow tracking, and overdue refund mechanisms, with a lot of complicated rules and regulations.

This is clearly not something that can be developed in the short term; Tenda has been preparing for this WeChat red envelope project for at least six months.

Ma Jieke frowned: "So? What are you trying to say?"

"Logically, Alipay should immediately follow suit and develop the same feature, but I thought that since we don't have a social scenario, we definitely can't compete with WeChat Red Packets by simply copying it."

Peng Lei continued, "And even if it were to be made, I'm certain that WeChat would strictly prohibit Alipay red envelope links from appearing in WeChat groups or Moments."

As soon as he finished speaking, a discussion broke out in the conference room:
"Peng, can we sue WeChat for monopolistic practices?" "Is there any way to bypass Tenda's social networking platform?"

Peng Lei nodded: "Suing for monopoly is definitely not going to work. Tenda can easily refute it with a simple statement like 'blocking unknown links for user safety.' So, we can only rely on innovation."

Before the meeting, one of the designers suggested a password-protected red envelope feature, which I thought was feasible and could bypass WeChat's blocking.

Ma Jieke immediately perked up: "Password red envelope? Tell me exactly how to do it."

Peng Lei explained in a low voice: "When users send red envelopes, they can use custom numbers or Chinese passwords. The Alipay system will then generate an image containing the password. This image can be shared on any platform, including WeChat, Weibo, and QQ. Because there is no API authorization, a single image can perfectly bypass WeChat's blocking restrictions."

"Brilliant!" Ma Jieke's eyes lit up, and he praised repeatedly.

Peng Lei continued, “During festivals like the Spring Festival and the Mid-Autumn Festival, using Chinese phrases like ‘a perfect union’ or ‘reunion during the Spring Festival’ when sending red envelopes can add a sense of ritual and also make up for Alipay’s lack of social attributes.”

CEO Lu Zhaoxi nodded in approval: "Breaking down ecological barriers with ingenious technological thinking, this designer is a talent and should be given more responsibility!"

Cai Zhongxin chimed in, "It is indeed a clever idea. Inspired by password-protected red envelopes, I just realized that we can also set secret passwords to turn sending red envelopes into a fun game."

The senior executives offered their suggestions, and Peng Lei noted down all the good ideas, planning to verify their feasibility after the meeting.

Ma Jie raised his hand to signal everyone to be quiet: "Ingenuity can solve immediate problems and narrow the gap with WeChat Pay, but it cannot change the fundamental situation."

“That’s right! Songci’s WeChat, which is built with all its might, ‘connects everything,’ has a very solid foundation!” Peng Lei chimed in again.

"If Alipay wants to compete head-on with WeChat Pay, it needs to be upgraded from a simple 'payment tool' to a 'digital lifestyle platform'."

By integrating functions such as bill payment, wealth management, and local services, it uses comprehensive services to counter the high-frequency reach of WeChat's social payment system.

She paused for a moment, then added, "But integrating so many functions might make Alipay bloated and negatively impact the user experience."

"With WeChat Pay closing in, Alipay has no choice but to comply." Ma Jieke smiled wryly. WeChat's momentum of "connecting everything" is overwhelming and too powerful.

In order to "survive," Alipay has no choice but to keep adding features, and it can't afford to sacrifice some user experience.

Cai Zhongxin pushed up his glasses: "Mr. Ma, Mr. Peng! We need to plan quickly; Alipay doesn't have much time left."

Peng Lei was taken aback: "What does President Cai mean?"

Seeing the confusion on everyone's faces, Cai Zhongxin shook his head helplessly and explained: "Tengda will first launch WeChat Pay and coordinate offline payment scenarios."

Now they're using WeChat red envelopes to solve the cold start problem of bank card binding through social sharing.

Now that WeChat Pay has established a solid foundation, what do you think Tenda will do next?

A thought suddenly struck Peng Lei, and she blurted out, "WeChat transfer! They'll definitely be adding a large-amount transfer function next!"

“Yes!” Cai Zhongxin said solemnly. “The next step will definitely be to enable large-amount transfers and completely transform WeChat Pay into an internet finance platform.”

Everyone then realized that after obtaining its payment license, Alipay solved the cumbersome nature of online banking with its quick payment system, becoming a convenient payment medium. WeChat Pay, with its even stronger foundation, had no reason not to do the same.

Ma Jieke narrowed his eyes, nodded solemnly, and understood in his heart.

After a moment's hesitation, he finally made up his mind and slowly asked, "Has everything been handled with Tianhong Fund?"

Cai Zhongxin's gaze was deep: "Everything is ready."

"That's good." Ma Jieke turned to Peng Lei, "What about Alipay?"

“Everything is ready!” Peng Lei said seriously.

“Okay, launch the Alipay Yu’ebao feature in three days.” Ma Jie made the decision immediately, his voice resolute and filled with a do-or-die determination.

He knew very well that once Yu'ebao was launched, it would be taking away from the banks' market share, and it would inevitably be "besieged" by them.

Previously, Alipay had not made up its mind, but now the pressure on WeChat Pay is imminent, and Alipay is at a critical juncture of "life or death," leaving it with no choice but to fight to the death.

The air in the conference room seemed to freeze for a few seconds. The executives had different expressions: some were shocked, some were solemn, and some were resolute in their decision to burn their bridges.

They had discussed the Yu'ebao move countless times in private, fully aware of the enormous risks involved.

Converting users' demand deposits into time deposits and then returning them with high interest rates will undoubtedly cause banks' liability costs to increase sharply.

Everyone can imagine that the retaliation from the entire banking system will be anything but mild.

But looking at the unwavering determination in Ma Jieke's eyes, no one dared to dissuade them anymore; they only knew that this battle had to be fought.

"I will have the technical team on standby overnight, and we must ensure the system is stable within three days," Peng Lei broke the silence first, her tone resolute.

"The risk control department is conducting a final round of stress tests, especially simulating peak traffic before the Spring Festival. There must be no mistakes."

Tsai Chung-hsin quickly added, "The legal department needs to prepare contingency plans in advance. Banks will definitely react quickly, so we need to ensure compliance and make sure Yu'ebao is legally sound."

Furthermore, the coordination with Tianhong Fund needs to be further refined; every step of the fund transfer process must be thorough and without any blind spots.

Ma Jieke tapped his fingertips lightly on the table, making a rhythmic sound, and ordered in a deep voice: "Prepare the contingency plan. If the bank causes trouble, immediately activate the highest level of crisis public relations."

We must repeatedly emphasize our original mission of serving micro and small enterprises and practicing inclusive finance, and stress that the safety of users' funds is absolutely guaranteed.

The legal department must thoroughly understand all relevant legal provisions and regulatory boundaries, and be fully prepared to respond to the lawsuit!

He turned to Peng Lei: "The marketing side also needs to keep up. Since this is a battle to break the deadlock, we have to show our sincerity to users."

Yu'ebao's return threshold and withdrawal speed must be more impactful than traditional wealth management products, and also be intuitive and easy to understand.

Tell the marketing department to submit the pre-launch plan first thing tomorrow morning.

"Also, the idea of ​​password-protected red envelopes is excellent. Start development immediately, give it the highest priority, and combine it with Yu'ebao to create a powerful synergy!"
One addresses the urgent need for social media communication, the other lays the foundation for financial services!

"Understood!" Peng Lei nodded heavily, feeling immense pressure on her shoulders, but her eyes burned with fierce fighting spirit.

If this risky move succeeds, Alipay will completely shed its single label as a "payment tool" and rise to become a true internet finance platform, capable of competing with WeChat Pay.

“Zhao Xi!” Ma Jieke looked at CEO Lu Zhao Xi, “All of the group’s resources will be unconditionally directed towards Alipay and the Yu’e Bao project!”

Technology, manpower, funding—give us whatever you need! For the next three days, the Alipay business unit is the heart of the group. Everyone, prepare for battle!

At one o'clock in the morning in Hangzhou, the cold wind blew through the glass curtain wall of Alibaba's headquarters, but it couldn't dispel the warmth in the conference room.

The executives debated and supplemented the details of Yu'ebao repeatedly until dawn broke, when they each hurriedly left with their heavy tasks.

(End of this chapter)