Reborn Entrepreneurial Giant

Galaxy Power's financing is progressing smoothly. The post-investment valuation is 150 billion. The scale of this financing is 15 billion, and about 10% of the shares are sold. It seems high, but SpaceX’s current valuation is about 1 trillion RMB.

Galaxy Power’s technology is not only the Suzaku 5 and recyclable rockets, but also the successful development of the Spark 2 engine. They will skip imitating the Falcon Heavy rocket and directly develop the Zhuque 7 with nine Spark 2 engines, and then three Taiwan's Suzaku 7 (Falcon Heavy) forms the Suzaku 9 (comparison starship)

As for the carrying capacity, the carrying capacity of the Falcon Heavy rocket in low-Earth orbit is twice that of the Falcon 9, and the Starship is about 2.3 times that of the Falcon Heavy. The situation with the Suzaku Rockets should be similar.

With the successful experience of Suzaku 5 and the greatly improved simulation computing capabilities, the development cycle will be greatly reduced this time. Suzaku 7 is expected to complete its first launch around 2027, and Suzaku 9 will be launched around 2030.

In addition, there is also a private commercial space station plan, which may be operated by another commercial company, but the spacecraft to and from it needs to be designed and manufactured by them. The space station and the lunar base may be their tasks.

The innovative and creative capabilities of private rocket companies are so strong that they have had a huge impact on state-owned companies. It is said that they are holding internal meetings and launching criticism and self-criticism activities.

Qu Li is sitting in Nansha, and a grand blueprint is slowly unfolding: Our journey is the stars and the sea! Tesla and CMQ have kicked off the development of new energy vehicles. Will they "join forces" to send humans into the space age this time?

In addition to the financing of Galaxy Power, Shein also conducted the first round of financing. This was something that could not be helped. His original idea was to hunt rabbits in the grass, but who would have thought that it would actually come true.

On the one hand, this is because Qu Li and Chen Danlin have outstanding reputations. On the other hand, they have established a set of informatization processes and systems very early and have a large number of IT and supply chain management talents. There is no shortage of money, a relatively complete organizational structure, qualified management, long-termism, and unhurried progress in the right direction.

Oh, these are all internal factors. The most critical one may be the opportunities brought about by the Sino-US trade issues. Their products have a certain scarcity at a specific time, plus Shein has strong supply capabilities (including logistics), so it continues Performance has doubled in several years.

Let's talk about the data. Shein's revenue in 2018 exceeded 10 billion RMB, about 20 billion RMB in 2019, 10 billion US dollars in 2020, 20 billion US dollars in 2021, 25 billion US dollars in 22...

Although the growth rate has slowed down, the model is working. If the company is growing so fast, how can it make employees work hard? Of course, we need to give them enough incentives to make them the owners of the company. Qu Li has a good reputation in this regard. He doesn't even want to be the CEO of Time, Glory, or a promising future, so how could he fall in love with Shein's CEO. Chen Danlin wants to take care of her children, and she is not someone who values ​​rights too much.

So, after the plague ended, they started financing, and Galaxy Power came to an end. Now it’s Shein’s turn, with a higher valuation than Galaxy Power. Because of the combination of fast fashion and e-commerce, Qu Li was It was explained to the national audience on the central stage. After more than ten years of exploration, it has finally been completed.

The reason why Shein raised funds this time instead of Fenghua International was of course because Chen Danlin did not want to sell her "Danlin" brand. "Horse Face Skirt" became popular in China, and "Yueji" handicrafts were successful but not completely successful. There is no popular product in China that only debuts in the second time, and it does not bring enough revenue. In short, "Dan Lin" and "Yue Ji" cannot improve Shein's valuation to meet their psychological expectations.

Although Shein's valuation at this time is unlikely to be US$100 billion, revenue of US$25 billion and net profit of US$1 billion are just the beginning. The industry boss has a higher valuation, coupled with Qu Li's legendary bonus, The valuation is above US$50 billion and below US$80 billion. Nike's market capitalization at this time was approximately $250 billion.

In fact, financing last year might have been the best choice. Revenue has doubled for several consecutive years, and getting a valuation of US$100 billion is not a big problem. Unfortunately, there were too many things going on at that time, such as Chen Danlin giving birth to her third child, Tianwen’s big model KimiChat being born, ChatGPT appearing soon, and Qu Li not having time, so he missed the best opportunity.

Shein's financing scale this time exceeded US$5 billion, with a combined valuation of US$70 billion. When communicating with these venture capital investors, they talked about the competitive relationship between Shopee and Shein. What did Qu Li think?

Shein's small single-quick response model can be copied to other small and medium-sized enterprises. It is the prototype of on-demand production and flexible customization, and the product is the most important; but Jumei Shopee integrates supply chain production capabilities, which is a natural evolution of the original production model, and the partners are factories or enterprises.

Having said that, there is not much difference when it comes to the performance in the market. They are both selling goods, but the former responds more quickly, while the latter depends on the ability of the business owner. Qu Li doesn't make any choices, and is naturally selected through market competition. And Amazon is their biggest competitor.

Chen Danlin serves as the chairman and CEO of Shein and is the largest shareholder. Qu Li is a member of the board of directors. Tianming Fund is the second largest shareholder, followed by management shareholdings, and finally private equity funds.

After chatting about Shein, they also chatted about gossip. Unexpectedly, everyone was very interested in autonomous driving. Someone directly asked Qu Li whether Juhua's intelligent driving was really far ahead.

How to explain this? Quli's smart driving thinking has always been conservative. He accumulated data in the early stage and focused on training algorithms. He prioritized ensuring the two scenarios of high speed and parking, followed by urban piloting. In order to cope with the complex international market, he made adjustments to the smart driving plan: for example Pay attention to the deep learning and self-evolution capabilities of intelligent driving. It also predicts accurate physical scenes and generates real-world videos (sora Vincent diagram function).

Geometry's smart driving requires extra money to buy a paid package. Saab and Lanto's cars are divided into regular and smart driving versions. In addition, the domestic road conditions are relatively complicated, and driven by the mentality of seeking stability, their smart driving does seem to be inferior to ordinary cars. Juhua Smart Driving can be experienced in a few cities, but the underlying capabilities of both parties are completely different.

Over the years, Geometry Smart Driving has accumulated a large amount of road video data in China, and then used this data to obtain a dedicated intelligent driving model through machine learning and deep learning training, combined with new visual recognition technology, video generation large model technology, and two other In-vehicle chips that can be mass-produced in about 20 years, and whose AI computing power has been greatly improved, will see a "qualitative change" in smart driving within three years.

In fact, Geometry can be upgraded to a large smart driving model through OTA this year. Saab and Lantu will definitely not popularize the most advanced technology so early. Saab uses more lidar, and Lantu uses high-precision maps in first- and second-tier cities. Three The brand should take a few more steps on the adjacent road to see if there are any better possibilities.

So is smart driving with a promising future lagging behind or leading? Qu Li didn't know, so he posted the video generated by Geometric Intelligence to the Internet: "Let's take a look. Do these video symbols conform to the physical laws of the real world?"

Qu Li said this, and many talents found clues. They used to think that Geometry’s smart driving video display was realized by a game engine. After all, Honor acquired the Unity engine. In addition to games, it is widely used in automobiles, transportation, manufacturing, architecture, engineering, and construction. , film and television animation, education and many other fields, I didn’t expect it to be a large video model! (End of chapter)