What's wrong with me being a rich man?

Chapter 71 I've Heard Your Name
As Ma Dian took his seat, there was not only a small commotion in the venue, but many media and even audiences also rushed in.

Nearly 200 media outlets participated in reporting on this year's Internet conference, and their cameras spent a lot of time following the big names in the industry. The head of Alibaba, which successfully went public in Hong Kong last year and achieved a market value of more than US$200 billion, is undoubtedly among the most watched.

Yu Xing on the stage watched this scene, without saying a word of welcome, but just smiled and nodded at the giant leader, and then let the microphone continue to transmit his voice into the air.

"I remember when I was in college, I only saw the name of Taobao in the news, and then I gradually saw its fierce competition with eBay. I never expected that this year it would earn 73 in online revenue through this channel."

"There is no doubt that anyone can see that Alibaba will be the leading player in domestic e-commerce, especially since it launched Taobao Mall this year, which is even more interesting."

Taobao Mall was later known as Tmall, which adopts the B2C model and was just launched in the first half of this year.

When Ma Dian in the back row heard this, he stretched out his hand to signal the staff that he needed a microphone.

When Yu Xing saw this scene, he stopped speaking and waited for interaction.

"Hoo, hoo." Ma Dian tried the microphone and selected the content that interested him. "Tell me about this Taobao Mall. What's so interesting about it? I'm curious about what young people think."

He interrupted the speech and may have changed the content of the manuscript on the stage, but no one at the scene, including the staff, thought it was inappropriate.

"Okay." Yu Xing nodded and said calmly, "Wait for me to finish this part."

Ma Dian smiled in surprise, and only then did he realize that the person on the stage seemed to be the strange volunteer outside this morning.

"In my opinion, Taobao's launch of the B2C Taobao Mall is in line with the development stage of the Internet and is a wise move, but it needs to move faster." Yu Xing explained his thoughts, "How many stages does the domestic Internet have?"

He asked himself and answered: "In the first stage, Sina, NetEase, and Sohu were known as the three portal swordsmen at that time. They were the pioneers of the Chinese Internet. To sum it up in one sentence, this stage was a huge potential market built by the Chinese population."

"With the potential market comes room for imagination, and thus the first batch of successful Internet companies emerged, many of which went public in the United States."

"Now, I think it is the second stage. Taobao is a typical example of this stage, as are Penguin and Baidu. To sum it up in one sentence, as the economy develops, the potential of the huge market is gradually realized, the number of users increases rapidly, and the industry and companies develop at a very fast speed."

Yu Xing finished speaking before responding to Ma Dian’s question: “As for why Taobao Mall is interesting, it is because Alibaba has built a large platform that encompasses multiple models. Alibaba is B2B, Taobao is C2C, and Taobao Mall is B2C. This strategic goal is obvious.”

Ma Dian smiled. It was indeed quite clear, but it was still surprising to hear a young man talk like this.

Yu Xing said bluntly: "The strategy of a company is the most important. In order to realize the strategy, even Taobao's CEO Sun Tongyu had to leave. You can see its importance. The emergence of Taobao Mall has important strategic significance."

Ma Dian stopped laughing.

His expression even turned a little more serious.

The resignation of Taobao's former CEO Sun Tongyu from Alibaba has caused quite a stir and speculation, because Sun Tongyu, nicknamed "God of Wealth", was almost the second highest executive after Ma Dian and single-handedly led the development of Taobao.

The person who came in with him noticed the change in Mr. Ma's expression and reached out to grab the microphone but was blocked by him.

Ma Yun said, “It’s okay, Mr. Jiang, listen.”

"The emergence of Taobao Mall reflects Alibaba's core strategy, but as a store owner, I feel that it has not made much progress since its establishment this year." Yu Xing said his actual experience, "Although it is just an individual case, according to my observation and speculation, Taobao's own C2C has developed rapidly, and it is probably not in a hurry to invest too much energy in B2C."

Yu Xing suddenly thought of the conflict between Alibaba and its shareholder Yahoo and the expiring agreement, and added: "Perhaps, this is also related to Alibaba's equity and financial reports, but from the perspective of business development alone, I think this judgment is problematic."

Ma Dian listened quietly.

"There is already a B2C company in China called JD.com," said Yu Xing. "Its revenue last year was less than 4 million yuan, less than 1% of Taobao. However, it has already gained a foothold in the e-commerce ecosystem and will be a major rival to Taobao Mall."

Ma Dian smiled when he heard this and said for the second time: "You are just exaggerating. JD.com is really good."

What was not said in the second half of the sentence is, of course, that although JD.com is good, it is not considered a major rival.

Yu Xing nodded. He was not flustered by the rejection. Instead, he made a guess: "Mr. Ma, although I didn't see the establishment goal of Taobao Mall in the news, I have a guess that Taobao Mall still has its competitors."

He took two steps, stood in the center of the stage, and said, "Amazon is difficult to localize, so it is not a big deal. Dangdang.com has a hard time expanding from books to all categories, and JD.com's revenue is less than 1%, so it is difficult to become a major player."

"So, who is worthy of being a rival to Taobao Mall?"

"Is it Suning, which had a revenue of 400 billion last year, or Gome, which had a revenue of 420 billion last year?"

"Or maybe offline home appliance chains represented by Suning and Gome?"

Yu Xing stood on the stage and looked at Ma Dian in the last row: "Taobao's C2C has brought offline small and medium-sized sellers online. Isn't Taobao's B2C just to move offline big sellers online?"

The most suitable large sellers that can move offline businesses online are home appliances.

Ma Dian said with a smile: "You are really good."

This is almost a direct admission.

Yu Xing was standing on the stage, and for some reason he was exceptionally calm. He did not feel honored by the praise from the head of a giant company, and he had not yet finished speaking.

Seeing that Ma Dian had no intention of continuing to speak, he spoke again: "I personally believe that the development trend from offline to online is inevitable. Even strong companies like Gome and Suning cannot stop this momentum, but JD.com is already doing it."

"An inevitable trend of the development of the times, a business model that conforms to this trend, plus an organizational structure that suits the business model, this combination of three makes JD.com today indeed not as good as a little finger of Taobao."

"However, Taobao itself is a witness to the magic of Internet growth. The experience of Alibaba and Taobao has proved that as long as the basic times, models and structures are in line with the times, the scale and volume can be rapidly expanded."

"So, I said, Taobao Mall needs to be faster."

Yu Xing finished his conclusion in a coherent manner.

Ma Dian, who was sitting in the last row, did not give a specific comment. Instead, he asked a question: "You just said that you divided the domestic Internet industry into two stages. Is this what you are going to talk about in this speech?"

“Yes,” Yu Xing admitted, “My topic today is “The Future of the Internet from a College Student’s Perspective.”

Ma Dian asked, "Are you studying computer science?"

Yu Xing replied: "I am studying pathology and I am in my second year of graduate school this year."

Ma Dian's face flashed with obvious confusion. Which words were they? Computer-related majors?

Seeing this, Yu Xing added, "It's medicine. I'm a student at Jinling Medical University. My startup is doing a 'Love and Roses' project. As long as college couples pay 299 yuan, if they get married in three years at the earliest, we will give them 999 roses. Alternatively, we are also considering adding new gifts of equal value."

Ma Dian fell silent.

Medicine, entrepreneurship, love and roses. What does this have to do with each other?
He didn't dwell on this and asked, "Are you done with your speech?"

"Not yet, but soon." Yu Xing thought for a moment and continued, "With the rapid growth of users, there is no doubt that as long as we can meet more and more user needs, we will be successful."

It’s still one sentence to summarize the different stages.

Ma Dian nodded, agreeing with this inference, and asked with interest: "If we follow your classification, it will only take a few years from potential market to users. Then it won't take too long from current users to satisfy future needs. It will soon be another stage."

"As economic development accelerates, the market is also accelerating the speed at which it delivers to users, but the growth of users is not endless," said Yu Xing. "It will inevitably be a curve from high-speed growth to low-speed growth and then to stock. At that time, we must compete for traffic to avoid being cannibalized."

He still said this, looking at the heads of the giants in the last row with bright eyes, and analyzed: "Once we enter the era of inventory, the competition between large companies will be extremely fierce. Penguin is leading in this regard. Its QQ is already using the advantage of traffic and is continuing to increase and consolidate its traffic."

"If Alibaba does not have a reliable traffic entrance, it will inevitably fall behind in future competition."

"If we don't want to be at a disadvantage in the future, we must compete with the penguins in advance. There is no point in sharpening the knife when the time comes."

Ma Dian remained silent.

After a moment, he smiled and said, "I'll go find Pony later and ask him to give us some traffic."

Yu Xing didn't joke with Ma Dian, and said coldly: "Traffic points can't be divided, we can only fight for it."

The people around Ma Dian couldn't help it any longer. Who are you and why are you talking about Taoism here?
He signaled to the staff to hand him a microphone as well.

"From market to users to demand to traffic, it's a good division, and the logic is self-consistent." Ma Dian ignored the tone of the college student and said with a smile, "From what you said, the number of users is not increasing much, and everyone is starting to compete for existing users. What future does the industry have?"

Yu Xing nodded and unexpectedly gave a further answer: "If we enter the era of inventory, the significance of data will become particularly important, and its value will be greatly developed. I think it will even be used in a groundbreaking way."

For example, AI needs to be fed with data.

Ma Dian nodded slightly. Although it was air-to-air, a self-consistent industry logic was rare.

At this time, Yu Xing finally said: "Of course, different stages do not exist in isolation, just like the theme of our Internet Conference this time, 'Integration promotes development, penetration creates value'. Thank you, I have finished my speech."

With this paragraph, the entire speech actually returned to the theme of this conference.

Song Yufeng listened to Mr. Yu's speech and the conversation between Mr. Yu and Ma Dian throughout the whole process. For some reason, he felt indescribably excited when he heard the end, and then he applauded violently.

However, his applause was not noticeable and was drowned out by the enthusiastic applause from the audience and guests.

At the same time, a large number of media outlets did not hesitate to take close-up shots of the college student entrepreneurs on the stage.

Ma Dian did not stand up. He waited until the applause died down a little before he used the microphone to ask again, "Student, you are very good. Are you interested in trying out at Alibaba?"

Yu Xing had just finished bowing and took two steps to get off the stage. Hearing this, he took two steps back, reached out to pick up the microphone, and said a little excitedly: "Me? Um... then, what about my company?"

The people around Ma Dian were almost laughing out of anger. With Mr. Ma's invitation like this, why don't you die for your friend?

Yu Xing continued, "Well, today Mr. Mu from Baihe.com offered me a purchase price of 150 million for my company, but I haven't agreed yet. Mr. Ma, are you willing to buy it for 200 million?"

150 million, 200 million, these figures are quite modest compared with the industry discussions on the stage just now.

Ma Dian really couldn't help laughing.

Yu Xing seemed to think for two seconds, then stopped talking and said, "Mr. Ma, please stop nodding. Let's not talk about this anymore. After all, Alibaba does not have any relevant business foundation. I have to be responsible for my team. Most of them are college students like me."

Ma Dian was stunned for half a second. I didn’t want to nod.

Then, he roughly understood the routine and couldn't help laughing: "Okay, Yu Xing, you have a flexible mind. You are welcome to try Alibaba in the future."

Ma Dian stood up, ending this unexpected conversation.

However, when Ma Dian was about to leave, the person next to him who had not been able to talk to him felt a little unhappy, so he picked up the microphone and advised: "Young people should do more down-to-earth work."

An open microphone allows everyone to hear the exhortation, which is tantamount to an open criticism.

Yu Xing also held the microphone and asked, "What's your name?"

The man didn't answer, so the person next to him introduced his identity: "This is Mr. Jiang from Focus Media. When he rang the bell at Nasdaq, Mr. Yu, you were probably still studying hard in school."

Yu Xing understands some successful people. Anything that is not to their liking will probably be regarded as disrespectful. As long as the status is different, there is no need to distinguish whether the content is correct or not. Some even want to introduce reproductive isolation.

He was about to reply when he suddenly felt that this person sounded familiar. Focus Media, Focus Media…

Is it Focus Media, a US-listed company that has been questioned five times in a row by the short-selling firm Muddy Waters?
The founder of this company has a very distinctive name that is easy to remember: Jiang Nanchun.

So, it’s that Mr. Jiang?
Yu Xing's eyes became somewhat deep, and he smiled and finally replied: "So it's Focus Media. I'm very familiar with it. I hope I can build up my company and invest more advertising in Mr. Jiang's company in the future, and become a major customer of Focus Media."

No matter how listed it is, Focus Media is essentially a company that accepts advertising, and its main business is elevator advertising.

Jiang Nanchun glanced at the grumpy college student, no longer interested in talking, and turned around, also being surrounded and left.

Yu Xing walked off the stage.

Song Yufeng went forward, happy with the performance and also excited for his humble attitude just now!
He patted Mr. Yu's arm and only called out: "Brother Xing..."

Yu Xing was in a good mood as well. He recalled Du Mu's "Spring in the South of the Yangtze River" and said with a smile: "There are four hundred and eighty temples in the Southern Dynasties, and many pavilions are in the mist and rain. How many pavilions are in the mist and rain?"

Song Yufeng was puzzled:?

Mu Yan, who also walked over, heard this and said, "This is Du Mu's "Spring in the South of the Yangtze River."

Not only him, Gong Haiyan from Jiayuan.com and Li Song from Zhenai.com also came over one after another.

Yu Xing looked deep in his eyes and smiled slightly: "I know Jiang Nanchun."

I've heard of you, I've seen you, so I'm going to try you.

See if you are also down to earth.

(End of this chapter)