Chapter 197: No one can pit, I don’t count as a pit!

The latest website: Wu Jie needs to sort out his investment and make long-term planning during the domestic break.
He has invested in many industries now, and there are still a lot of domestic and foreign.
Domestically, it was mainly because he made "Uniqlo" and "foreign trade company".
Uniqlo is the "clothing supermarket" he established to promote his own clothing brand and also promote Chinese clothing.
He has already found many experienced people to manage and operate in the Mainland and Hong Kong. The first Uniqlo will open in Hong Kong in a few months.
When "Uniqlo" just opened, there was certainly not much sales. At present, it mainly sells his Chinese stand-up collar and embroidered Tang suit, as well as cheongsam and plagiarized Korean suits. Of course, it is now called Chinese suits.
To be honest, these four kinds of clothing are not lacking, because each can create a high-end trend.
Wu Jie also really wanted to shape these four Chinese-labeled apparel into high-end series. At that time, domestic designers only worked hard in these four fields, enough to develop countless branches. At that time, his "Uniqlo" Don't worry about being out of stock.
His foreign trade company has become semi-official. Many imported things are domestic needs. He uses his company in Hong Kong to purchase, mainly managed by Li Xianru and several second-generation officials. Recently, he even imported hundreds of vehicles. car.
In fact, he doesn't want to do this kind of business, but he can't do many things, otherwise he would like to go to Beidaihe to play cards?
Fortunately, this will ease international relations. Wu Jie can also use this company to help tool people import various production lines and equipment, and even some high-end equipment can be bought. This will make the United States almost no blockade in the civilian field.
If they have the money to import these advanced production lines and equipment in the next 6 years, they can completely introduce technology and manufacture fast-moving consumer goods and necessities such as knives, razor blades, screws, and batteries that are not far behind. To the same filling production line as Pepsi and Coca-Cola, or even only a generation of CRT production line behind Sony.
These are the investments he is making in the country or is about to make.
He mainly invested abroad in high-tech companies in Silicon Valley in the United States!
This is not to say that he has more vision than others, but that investment in high-tech companies in this era is the outlet, and the world is throwing money at Silicon Valley.
Wu Jie has money in his hands and it is not very strange to choose to invest in this industry. He can only be said that he has thrown the money in the right direction.
But the direction is right, and it's another matter if it's accurate.
There are also a large number of high-tech companies that have closed down in Silicon Valley each year. There are even more high-tech companies that deceive investment. Even many successful companies in the future are initially deceived.
Among the companies with the largest amount of investment, Activision and Oracle bear the brunt, and he accounts for 35% and 30% of the shares respectively.
Wu Jie didn't just get a number after investing money. He put forward a lot of conditions for these two investments. The first is to require Activision and Oracle to reserve 15% of the shares as an option pool before investing 100. Ten thousand and two million US dollars, occupy 30% and 25% of the shares respectively.
After the two investments were reached, the equity ratio of Activision was 50% of the shares of the five founders, 35% of Wu Jie and 15% of the option pool.
Oracle's shareholding ratio is: Larry Ellison 55%, Wu Jie 30%, and option pool 15%.
At the same time, in order to prevent future dilution of equity, Wu Jie ordered agents in the United States to propose several guarantee clauses, such as "preemptive right to purchase."
This clause requires the two companies to have the right to continue investing in the next round of financing, and the investors in the previous round have the right to choose to continue investing and obtain at least the number of new shares corresponding to the current "equity ratio".
That is to say, even if Activision and Oracle find the big winner in the next round, Wu Jie can keep the shares unchanged as long as he wants to make additional investment.
In addition, both of these investments belong to the angel round. Take Oracle as an example. Wu Jie evaluated the value of Oracle at the time of the investment at US$10 million, and Larry Ellison agreed with this valuation.
After the investment is completed, Oracle's equity structure is 55%+30%+15%.
Of course, this is the current value of the company agreed by both parties, not the real value.
In this way, in the next round of Oracle financing, which is the A round, if Oracle gives 20% of the equity to new investors, let's not talk about the valuation at that time, Larrison's equity will become 55 %×(1-20%)=44%, Wu Jie’s equity becomes 30%×(1-20%)=24%, and the option pool is 15%×(1-20%)=12%. The dilution is the part that the A round investors took away.
If it is the B round, and still give 20% of the shares to the new investors, Wu Jie's equity will become 19.2%.
In this way, until the final listing, Wu Jie's shareholding ratio is likely to fall below 10%, but the value of the stock he holds is likely to have increased hundreds of times.
But these refer to the situation where he no longer makes additional investments. If he feels that the company has a good future, then he can make additional investments in each round, so that the gains obtained after listing will be greater.
In addition, in order to ensure that his interests are not harmed, he also proposed other protection clauses.
For example, "preferential stock conversion right", this clause refers to the company's share transfer, spin-off, merger, etc., Wu Jie's "preferred stock" conversion price can be adjusted accordingly.
For example, if Wu Jie is now investing at the price of one yuan per share, it is that he has 3.5 million shares of Oracle.
If Oracle refinances in the future, the issued shares will double, but the value of each share will be reduced to 5 cents, then his preferred shares can be converted into 2 ordinary shares.
This clause guarantees his interest as an angel investor, and means that the preferred shares in Wu Jie's hands are very valuable.
If the company's performance is booming and the share price of common stocks continues to increase, he will cash out when Oracle goes public, when his preferred stock per share can even be converted into thousands of common stocks.
Finally, there is the "complete ratchet clause", which is designed to prevent the depreciation of shares, because after multiple financings, no one can guarantee that the price of the shares issued every time the financing is raised, Wu Jie will of course worry that due to the next round of price cuts Financing, which led to the devaluation of his own shares, so he demanded protection clauses.
These provisions can guarantee him to enjoy the benefits of "Dynamic Vision" and "Oracle" in the future, just like the original Softbank investment in Alibaba. Although they were finally forced away by various forces, they still used the original two thousand. Million Dollars shared Alibaba's later successes, and the cash out of cash has already expanded countless times.
In addition to these two investments that will surely have huge returns in the future, Wu Jie has also invested dozens of high-tech companies in succession this year.
Most of these are angel investments, and they have accumulated more than two million US dollars. In the end, it is estimated that they are all drawn by bamboo baskets.
These gambling-like VCs are a small part of his investment. Most of his net worth still makes reliable long-term investments, such as long-term purchases of Apple, Coca-Cola, Wal-Mart, and Home Depot shares.
These are all his current business activities, basically to make money from endorsements and wages, and then most of them are used to invest in Silicon Valley + buy stocks.
In the short term, he can't see whether he is making money or losing money, but it won't take ten years. Five or six years later, his net worth should be hundreds of millions of dollars.
Not only does Wu Jie invest in Silicon Valley, he will also invest in these domestic tool people.
Shen Lang has already traveled to Ecuador with the Chinese swimming team at this time, preparing to participate in the World Swimming Championships at the end of the month.
The business route arranged by Wu Jie for him is very simple, that is, real estate + large supermarket + hotel, and then make money from real estate and then invest in industry.
The only problem now is that real estate can’t be done before 84 years. Shen Lang needs to find a way to buy back the land he originally turned over at a low price, and then wait for the hotel to be built after 84 years. The office building can only be rented and not sold. Anyway, with their connections in the future, this line of business is sure to make a lot of money.
Ruda was now in Beijing to discuss cooperation with a TV factory that was in shortfall and was on the verge of bankruptcy.
Of course he wanted to do the home appliance business. A month ago he had bought a washing machine factory that was also on the verge of failure.
Ruda wanted to enter the field of white goods, which was naturally Wu Jie’s suggestion. In the next two decades, the domestic demand for three major items will be snowballed, and this will happen when a large number of state-owned power plants close down.
Since the beginning of this year, the state has begun to accelerate the expansion of the scope of private ownership.
At this time, it will be one or two years since the opening of the private electrical appliance factory. If there is a way to do it, we can now arrange it in advance.
Ruda successfully received a 50% stake in the washing machine factory with a capital injection of 200,000 yuan a month ago.
As for why it is 50%, it is naturally because 50% of the shares do not have absolute holdings and are still regarded as collective-owned enterprises, which can be exploited.
However, the equity transfer agreement signed by Ruda and the two electrical appliance factories does not have the protection provisions set by Wu Jie when he invested in the United States, and he even set up many traps that can be followed up.
The simplest trap is that as long as the capital is injected again in the future, the other 50% of the shares can be diluted and completely transformed into an absolute controlling private enterprise.
This is also the most commonly used method for foreign investment in the early days of reform and opening up. Then, I don’t know how many companies with good operating conditions have been annexed by foreign investment. A large part of them later involved high-end and high-precision companies. They were hidden after 89 years. Too.
This time Ruda intends to use the same method to get rid of these two home appliance factories, which can be regarded as a reminder to domestic enterprises. The joint venture can do too much, and even the bones will be swallowed accidentally.
The TV factory he likes can produce semiconductor radios and has a production line for black and white TVs.
After he bought the TV factory, Wu Jie would start investing. At that time, as long as they introduced a color TV production line that was only one generation behind from Japan, they could produce color TV sets.
Now the gap in the domestic market for TV sets is very large ~ EbookFREE.me ~ TVs imported from Japan are of good quality, but the price is too expensive; the domestic quality is too poor, and the price is not particularly cheap.
As long as they can find a balance between the TVs they produce and ensure that the performance and quality are only one generation worse than that of Sony, and then set the price between the two, then by virtue of their advertising effect, they want to become The boss of the domestic TV is not too difficult.
Of course, this product that introduces Sony production lines and technologies belongs to their high-end products. While introducing technology, they also have to conduct self-research on this basis, even if the digested product is one generation worse than the previous Sony product. But as long as Ken continues to invest, he will catch up sooner or later.
In the early 1980s, Samsung was also a lot worse than Japanese products in the field of household appliances, but it still caught up with the support of the domestic market.
Now using their idol effect, they can also get support from the domestic market, but this market is much larger than South Korea.
Regardless of TV sets, washing machines, refrigerators, and air conditioners, as long as they are willing to research and develop, they can definitely allow Chinese home appliances to occupy the world as early as ten years and have a place in the high-end field.