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- Chief Business Intelligence
- Chief Business Intelligence
Introduction: In the business world, the name Jia Yueting is undoubtedly full of controversy. From the glory of LeEco's empire to the haze of the debt crisis, his every move touches the nerves of the market.
Now, Jia Yueting is once again on the cusp of the storm, and he officially announced on Weibo that he had newly founded "Grow Up! Striver" and donated 10% of its shares to Faraday Future.
At the same time, Jia Yueting also claimed that half of the new company's earnings and the proceeds from investing in Faraday Future would be used to repay domestic debt.
Source: Jia Yueting's official blog
So in the end, is Boss Jia really repaying his debts and returning to China? Or is there something else going on? I'm afraid the answer is best known only to him.
A start-up company, transferring 10% of the shares, just to repay the debt and return to the country?
On social media, the debt-ridden Jia Yueting once again stressed that he said in an open letter on the new company's capital injection that "repaying the debt and returning to China is something he must complete."
Source: Jia Yueting's official blog
As soon as this remark came out, it immediately aroused heated discussions among netizens, many netizens said that this was Jia Yueting's new trick of collecting money, and some people even called him a liar and not trustworthy!
Pictured: Screenshot of netizen comments
Boss Jia's words do sound quite sincere, more like he is trying to save his credibility and prepare to fulfill his long-term promise. But the question is, can we trust him?
Before jumping to conclusions, let's take a look at this "Let's Grow!" "Striver" what the company does.
According to Boss Jia, the company will create an advanced content video e-commerce and live broadcast e-commerce model in United States, aiming to help Chinese products and models go overseas, and at the same time bring United States high-quality products and well-known IPs to the Chinese market.
It's a big vision, but it's not easy to achieve. Especially in the current market environment, live e-commerce has become very mature and the competition is also very fierce. It is not easy for him to get a piece of the pie in this field.
And where is the infused Faraday Future?
Speaking of which, this company is amazing, and he carries Boss Jia's dream of building a car. Faraday Future has been around for 10 years, but it was not until 2023 that deliveries of its first car, the FF91, began, and as of August this year, only 13 units have been delivered.
Source: Caijing.com
According to Faraday Future's recently disclosed financial report, the company will only achieve revenue of $295,000 in the first half of 2024, but the net loss will reach $157 million. Such a financial situation makes people have to put a big question mark on the future of this company.
(Pictured: Screenshot of Faraday Future's financial report for the second quarter of 2024)
Not to mention that since the outbreak of the LeTV crisis, he has repeatedly promised to return to China to deal with the debt problem, but he has not yet fulfilled it, and Jia Yueting's personal reputation has long been in jeopardy.
According to Tianyancha data, Boss Jia has been ruled as an executor in China as many as 70 times, and the total amount of execution involved has reached 35.481 billion yuan.
With such a scale of debt, relying solely on IP commercialization and live streaming income, it is obviously a drop in the bucket.
(Source: Tianyancha)
This time, he once again promised to "repay his debts and return to China", but in view of the black history of the past, whether he can fulfill his promise, in fact, many netizens are skeptical.
Pictured: Screenshot of netizen comments
"Grow! The "striver" company and his promise to "repay debts and return to China" sound good, but it is difficult to achieve.
After all, there are frequent thunderstorms in enterprises, such as Jia Yueting and others, there are not a few entrepreneurs who run away with money, these incidents can't help but make people think deeply, is it the last retreat for some entrepreneurs?
Circle money to cash out, thunder and run away,
Has it become the last resort for some entrepreneurs?
Speaking of entrepreneurs, we may think of those bigwigs who ride the wind and waves in the business sea and create wealth myths. But I have to say that there are also some entrepreneurs, their stories are not so glorious, and even a little chilling.
Some enterprises "cash out" in the capital market, but when the crisis comes, the boss "runs away and absconds", leaving a lot of chicken feathers.
Rock Capital, which was once rated as "China's Top 30 Best New Energy and New Material Investment Institutions in 2023", its chairman Zhang Yinghao, threw down a sentence in the company's employee group "I'm leaving, you should also go", and then lost contact.
This incident caused a lot of shock in the venture capital circle at that time, and you must know that the amount involved in Locke Capital may be as high as 1.2 billion yuan, involving more than 400 investors.
Imagine how bad these investors are in a bad mood. Their trust and funds have been squandered. It remains to be seen whether the funds of these investors can be recovered.
What's more, the domestic circle of money, foreign chic, for their own selfish desires, ignoring the interests of the country and the interests of employees. When the edifice was about to collapse, he transferred the ill-gotten wealth he had gathered overseas and squandered it wantonly.
Yan Yongming, known as the "father of Chinese viagra", was the chairman of Jilin Tonghua Jinma Pharmaceutical Group Co., Ltd. In China, he was suspected of fraud and embezzlement, involving up to 250 million US dollars, and absconded to Australia, New Zealand and other countries.
Source: Global Network, Beijing Evening News
What's even more infuriating is that the illegal income from the domestic circle was used by him to squander overseas and live a luxurious life. According to reports, Yan Yongming lost nearly 1.2 billion yuan in the casino, and it was not until 2016 that he returned to China and surrendered after squandering it.
Source: Sohu Encyclopedia
Source: The website of the Ministry of Supervision of the Central Commission for Discipline Inspection
In fact, whether it is Jia Yueting, Yan Yongming or Xu Jiayin, when entrepreneurs choose the retreat path of "cashing out money" and "running away with thunder", they not only give up their social responsibility, but also destroy the public's trust in the entrepreneur group.
This kind of behavior is undoubtedly a betrayal of the entrepreneurial spirit.
Entrepreneurs should not only pursue economic benefits, but also assume social responsibility. A socially responsible entrepreneur will contribute to society by creating jobs, supporting community development, protecting the environment, etc.
The last retreat of entrepreneurs should not be a shortcut to evade responsibility, but should be the courage to take responsibility and the bottom line of law and moral constraints.
Adhere to the double bottom line of law and morality
It is the long-term survival of the enterprise
In this unpredictable business world, some companies are like meteors across the night sky, fleeting; However, some companies can travel through the long river of time and last for a long time.
What's the secret? The answer may not be complicated: adhering to the double bottom line of law and morality is the long-term survival of the enterprise.
When BYD faced the environmental turmoil, they did not rush to deny and explain, but through communication and coordination with residents, as well as inviting professionals to evaluate, to prove their innocence with facts.
After that, BYD complied with the requirements of the law and improved environmental protection standards through technological upgrades.
It is BYD's adherence to the bottom line of law and morality that will enable it to top the annual sales list of Chinese automobiles in 2023 and become a leading enterprise in the domestic new energy vehicle industry.
If BYD strictly abides by the bottom line of the law, so as to gain the trust and recognition of customers, then ByteDance, a company known for its algorithms and big data, has used its company's energy to warm the villagers in the poor mountains.
They connect creators and traditional villages through the platform, so that the beautiful scenery hidden in the mountains can enter the field of vision of thousands of households through the lens of "village guardians".
Pictured: Screenshots of some Douyin village guardians
Using the lenses of these creators, not only makes the scenery of the countryside known to more people, but also stimulates the development of the local cultural tourism industry, and also brings tangible benefits to local residents.
ByteDance's move not only keeps the bottom line of morality, but also shows the innovative spirit of the enterprise. Of course, this is not only the case for new enterprises, but also for traditional enterprises in the mainland.
In addition to the superior quality of its own products, it is more important that Moutai Group, a leading liquor company in mainland China, has assumed a sense of corporate social responsibility and has been recognized by the market.
In terms of the assistance of local rural industries, it is no longer a simple "blood transfusion" of personnel to provide jobs, but through their industrial assistance, the development of local agriculture has been improved.
Source: Kweichow Moutai
Behind these assistance measures is not only a win-win situation for enterprises and local governments, but also Moutai's adherence to a sense of social responsibility and national emotion.
The success of these companies is not only due to how good their products or services are, but also because of their adherence to and protection of laws and ethics.
By sticking to legal and ethical bottom lines, they have not only achieved economic success, but also made a positive contribution to social responsibility and sustainable development.
They know very clearly that only on this basis can enterprises win the trust of consumers and be invincible in the fierce market competition.
Adhering to the bottom line of law and ethics is not only a manifestation of corporate social responsibility, but also the key to the long-term stable development of enterprises.
Write at the end
In today's complex and volatile business environment, some companies do not hesitate to touch the red line of law and ethics in order to pursue short-term profits. They may succeed for a while, but they are often abandoned by the market in the end.
Because, in this era of high transparency of information, it is difficult to hide any illegal behavior for a long time. Once exposed, it will not only face severe punishment by the law, but also lose the trust of consumers, which is undoubtedly a fatal blow to enterprises.
Therefore, for enterprises, adhering to the double bottom line of law and morality is not only a responsibility to society, but also a protection for themselves.
It's like building an edifice, if the foundation is not strong, no matter how gorgeous it looks, it will eventually collapse. Only when the foundation is firmly laid, can the building withstand the test of wind and rain and stand tall.
In this era of rapid change, businesses face a variety of challenges. However, no matter how the times change, the bottom line of law and morality cannot be shaken. This is not only the secret of the longevity of the company, but also the cornerstone of social progress.
Let's hope that more companies will be able to recognize this and continue to innovate and move forward within the framework of law and ethics to create a better future for us.
An enterprise is like a tree, and legal ethics are the roots. Only by sticking to the double bottom line can we flourish and be evergreen. What do you think about this? Welcome to leave a comment in the comment area and express your opinions and opinions, thank you!
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