“One side is the cold seawater, while the other is the flame of ascension. No company has such an experience, and is quenched again and again in ice and fire.†3 months ago, LeTV was founded on the occasion of its 12th anniversary. Jia Yueting wrote an open letter of 5000 words to all employees. Because the attitude is sincere and reflective, it is called by the media as "Jin Hau-ting." Before the letter, LeTV had just experienced a thrilling supply-chain crisis.
After the letter was swiped, LeTV was called the "Ponzi scheme" by the U.S. finance ministers. The governor of the state then took the finance minister back and declared that there was no financial problem for LeTV's manufacturing partners in Nevada. everything is fine. On the other hand, LeTV has continuously launched seven new ecosystem "reactions" (chemical reactions), Internet smart electric cars and other new concepts. Even Jia Yueting who often shows people in public is hoodwinked. Some media and industry insiders have always put forth all kinds of evidence and firmly believe that "this is a PPT company."
Letv, this controversial Chinese company, will be swallowed up by waves, or will it boil the ocean? Jia Yueting, the CEO who is in the midst of suffering and willingly receives a salary of one yuan, is actually an indulge in business fantasy. Jiquid, or a lonely hero whose vision is too advanced to be understood by the world? Jia Yueting still chooses to “see words like noodles†in an exclusive interview with the Global Times reporter and gives his answers.
The fighter plane is fleeting and can only be blindfolded
Global Times: In the letter to all LeTV, you frankly stated that the main problem of current LeTV is that, with limited funds and resources, the global front has been pulled too long and the organizational capabilities have not kept pace. Looking back, why did you "blink wildly?"
Jia Yueting: LeTV has always been committed to leading the industry in transforming and creating value. The Internet eco-model we have done has no other person's experience to learn from, and we are in the fleeting commercial era. Therefore, it is necessary to see the future direction and seize the opportunity to blindly rush. Of course, we did not think that funds and resources would become the constraints to the realization of the strategy. It was only because our organizational and financial capabilities did not keep up, and the strategic direction itself had no problems.
Global Times: You said in the letter that LeTV will enter the second phase of the ecological strategy: each sub-economy will shift from burning money to doing deep market penetration, and super TV and other ecosystems will fully realize profitability. After a few years, will the sub-economy be profitable? Where does your confidence come from?
Jia Yueting: First, the listed company LeTV.com (31.890, -1.86, -5.51%) has always been profitable, and LeTV.com has revenue of 16.8 billion yuan in the first three quarters of 2016, which is double the growth rate in the same period of last year. It is expected to exceed 20 billion yuan in the whole year. yuan. We forecast that profits will reach between 630 million and 770 million yuan, an increase of 10% to 35% over the previous year. Among them, membership payments, hardware sales and advertising services continue to be the three major revenue channels. LeTV's large-screen ecology has reached tens of millions of users. Large-screen hardware sales are expected to increase sharply this year, driving more users to join the LeTV ecosystem. Large-screen advertisements, online distribution, application distribution, big-screen games, and large-screen shopping have entered a period of high-speed realization. In the next three years, the non-hardware large-screen ecological operation revenue is expected to accumulate over RMB 20 billion. Large-screen ecology will also achieve profits from turning losses into profits.
LeTV's unlisted system business will also follow the advent of the second phase of the strategy, bid farewell to the expansion of money-burning, shift from extensive operations to value mining and promotion, first realize positive cash flow, ensure healthy operations, and achieve profitability in the future, sooner or later. . The automobile ecology is still in the investment period, and it needs further financing for R&D and factory construction. In the future, the mass production of automobiles will inevitably become the most important source of cash flow and will eventually be profitable.
Let's build cars will eventually overturn the automotive industry
Global Times: Leshi makes great controversy. Different from mobile phones and televisions, automobiles are technology-intensive and capital-intensive industries. Both of these are Levision's shortcomings, and their association with LeTV's main business is not strong. Failure to do so will drag on the entire LeTV ecosystem. Why do you insist on doing a car?
Jia Yueting: If you stand in the present and look to the future, Le Leu makes it seem like an unconventional gamble; but looking to the future, LeTV is the world's most suitable and most capable company to become an Internet smart electric car. I am determined to enter the automotive field and create an interconnected electric intelligent shared transportation ecology. The first is the sense of mission to reduce haze, change the living environment, and the ideal pursuit of creating unique things for human beings. The automobile industry has indeed reached the critical point of change. I It is believed that LeTV has the ability to seize this opportunity, just as we did to subvert the television industry.
The value chain of the automotive industry is being reconstructed and relocated - the core value of the car has changed from a vehicle to a completely new scene of traffic internet life. The drive for automobiles to move from non-renewable petroleum energy into the new energy era has become irreversible. The core technology of traditional cars is just about the gasoline power system of the engine. In the next era, the core system of the Internet's smart electric vehicles is made up of computing systems and unmanned vehicles. It consists of four major technologies: AI, Internet, and electric. The four major trends in the automotive industry are electric, intelligent, Internet, and sharing. The latter three are all LeTV's advantages. Other Internet companies are more at the application layer and the bottom layer, and few at the hardware layer. Only LeTV can break the hardware, software, and the Internet, making the three truly integrated.
As for electric technology, it can be complemented by attracting a global team of top experts. In the past three years, we have continued to research and accumulate in the field of Internet-based smart electric vehicle technology. We have all the core technologies needed to transform the traditional automotive industry, and are the absolute leader in the new players in the global next-generation automotive field. The problem of funding is the easiest to solve. The A-round financing of our car will be officially launched soon. Actually, there are many real-looking investors who have begun to pay close attention to our automobile ecology and have made very good progress. I believe that in the future, when the automobile and the Internet are integrated, there will be companies that surpass Apple, and LeTV is most likely to be the company.
Anti-energy naturally evolves new species
Global Times: When it comes to the characteristics of LeTV, you often mention the "revolutionary" between ecosystems. What exactly is "reverse"?
Jia Yueting: Actually, LeTV should be the most powerful organization in the world for synergy. In fact, our genes are based on ecological development. Many people in traditional industries have come to LeTV and feel that there is more to be learned in LeTV than in the original system for three years or even five years. Because the horizon is completely open, you can understand people in different fields, what their thoughts are, and what their strategies are. This will be very instructive to their own business thinking, and they will be able to reverse their understanding of each other’s business. However, there are still many problems ahead of the reversal. Because we are only in the early stage and rapid advancement stage of cooperation, we are still far from meeting the requirements of coordination, and we all have great room for improvement from everyone’s awareness of organizational protection. The real counterproductive or high-level counterproductiveness is the formation of very strong synergies between various sub-ecosystems and business units. Just like the natural ecosystem, it is able to carry out ecological cycles and cooperation very smoothly and naturally evolve each other. With new species, new business cooperation and new user values, the ecosystem is constantly growing and healthy.
Global Times: However, some people in the industry believe that the true ecology should be naturally formed, not artificially created; the seven major ecology of LeTV does not reflect a strong correlation and belongs to non-related diversification; therefore, the seven major ecology It is difficult to reverse each other. What do you think of this view?
Jia Yueting: This point of view is more of a lack of understanding of the internal relationship of LeTV's seven ecology. To take a simple example, as a sub-ecology, the content ecology not only possesses a complete industrial chain of vertical integration of film and television content, but also cooperates with the sub-ecosystem of the Internet ecology, large screen ecology, mobile phone ecology, sports ecology, and automobile ecology. In order to provide users with the ultimate experience of smooth viewing in smart TVs, smart phones, smart cars and other types of terminals. This in itself requires a strong ability to work together to achieve cooperation, how can we say it is difficult to counter it?
There is a fundamental difference between internationalization and globalization
Global Times: Some experts believe that it is more difficult for Chinese companies to explore the international market than in China, especially in the United States. If it is not in the top three in the domestic market, it is very dangerous to rush to the US market. Is LeTV's internationalization process too fast?
Jia Yueting: To correct it, LeTV is not internationalized. What we need to do is globalization. There is a fundamental difference between the two. Globalization is taking a global perspective to think about our strategic layout and development rhythm. The vast majority of Chinese companies are just exploring the international market and are still thinking based on the Chinese mainland. In 2016, LeTV’s globalization progressed rapidly. Apart from China, it has successfully entered the United States, India, Russia and other countries. With the adjustment of the strategic rhythm, we will not expand the scope of the landed countries in the short term. Instead, we will concentrate resources and energy on There are several major markets for farming. LeTV, from the very beginning, was the layout of the China-US dual-headquarters. The first mass production car of FF was completed and successfully released in the United States. From the very beginning, we are at the forefront of the world's science and technology. This is already LeTV's globalization strategy. The best proof of the results.
Global Times: In your opinion, a person who likes to wear a hoodie instead of a suit is more like an ugly child who does not want to abide by the rules, or a lonely hero who is not understood by the world, or an entrepreneur. Ji Rude?
Jia Yueting: How to evaluate is something outside. I am just an entrepreneur and I just want to work hard to create unique things for this world.
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