Pang Xiaonan got out of Dongli Military Academy and drove to Black Mamba.

The Black Mamba must have a complete database of weapons as large as the size, and furthermore, the Black Mamba must be interested in this force value glasses.

Soon, Pang Xiaonan found Bei Dajun.

Bei Dajun let Pang Xiaonan into the office, made a cup of good oolong tea, and handed it over to Pang Xiaonan.

"Why do you have time to come here today?" Bei Dajun had spent a lot of time dealing with the aftermath of Operation Bloth, and his eyes were still red.

"Have they all done anything about Buckton Lin?" Pang Xiaonan knew that this matter must be a major event for the Black Mamba, this was the biggest safety accident ever caused by the Black Mamba, and the elite of the first team lost most of it, which was enough for the Black Mamba to be busy.

"Almost, there is a special person to deal with the bereavement pension, I am going to hold a farewell ceremony for the sacrificed people in a week, and you must come when the time comes. "Because everyone's bodies were left in New Bloss, there was no way to hold a funeral, and the Black Mamba had to hold a solemn ceremony to commemorate the fallen teammates.

"Well, I'll come. Pang Xiaonan's mood was a little heavy, because he thought of those teammates who fought side by side, although they didn't get along for a long time, after all, life and death were shared.

"I heard that when Bucton Lin died, he handed over the captain's position to you?" Bei Dajun looked at Pang Xiaonan with interest.

Pang Xiaonan nodded and said, "That's the case." ”

"It looks like you've earned the respect of your teammates. Bei Dajun moved his neck, and he felt that his neck was a little sore.

"It's not easy to be a captain. Pang Xiaonan laughed at himself, he was just an ordinary team member, but after becoming the captain, the pressure on his shoulders increased sharply, because you have to consider the life and death of the whole team.

"They all said you did a good job. Bei Dajun pinched his shoulder with his hand, "It seems that if there is such a dangerous action in the future, you will be the captain." ”

"Don't, don't!" Pang Xiaonan hurriedly waved his hand to refuse, "I'm not the captain, the responsibility is too heavy." ”

"If you can work hard, don't shirk it, only if you are the captain, can you serve the public, and the reward for being the captain is higher than that of others. "Bei Dajun tried to tempt Pang Xiaonan with money.

"Really?" Pang Xiaonan was really interested in money, "By the way, when will the payment for this mission arrive?"

"It will be on your account in a few days," Bei Dajun shook his neck again, "BridgeMorgan sent us the balance as soon as he arrived, and added a large bonus, and said that he would strengthen cooperation with us in the future." ”

"That kid is very righteous. Pang Xiaonan suddenly felt that BridgeMorgan was still very cute.

"He also asked for your contact information. Bei Dajun glanced at Pang Xiaonan strangely, "As long as yours, the rest of the people don't want it." ”

"Is he going to trouble me?" Pang Xiaonan thought that Bridgemorgan might blame him for not protecting the armor.

"No, no, no, he is also full of praise for you, saying that if there is cooperation in the future, you must participate. Bei Dajun didn't know what was happening in New Bloss, and everyone was extremely grateful to Pang Xiaonan.

"I hope there's nothing bad he's doing to me. Pang Xiaonan took a sip of oolong tea, and the sweet feeling spread in his mouth.

"By the way, several scientists of the scientific expedition team also said that they would come to the farewell ceremony, and their teammates also died in New Bloss, and there were no bodies either, so they wanted to get the farewell ceremony of those dead scientists with us. Bei Dajun walked to the water dispenser and made himself a cup of tea at random.

"It's good to be together, lively. Pang Xiaonan felt that this ceremony should indeed be held together, after all, the scientific expedition team and the Black Mamba Escort Team had gone through hardships together.

"I told Bridge-Morgan about the situation as well, and he said he was coming too. "Bei Dajun knows that after this team has experienced so many lives and deaths, they must all be together.

"Where is the ceremony?" Pang Xiaonan held the teacup and his eyes drifted out the window.

"It was here that we decided to hold it at the Black Mamba base because they are a member of the Black Mamba and they have given their precious lives for the cause of the Black Mamba. Bei Dajun also looked out the window, and outside the window was the vast rolling mountains.

Pang Xiaonan took out his force value glasses, handed them to Bei Dajun, and said, "I'm coming over today, there is another matter, I want to show you something." ”

"It's ...... Infrared glasses?" Bei Dajun took the glasses, looked at them carefully, and looked at Pang Xiaonan suspiciously, he was well-informed, and the shape of the glasses seemed familiar.

"No," Pang Xiaonan shook his head, "You put it on and try it." ”

Bei Dajun put on his glasses, looked at Pang Xiaonan, and saw a few lines of small words appear on the lenses, and couldn't help but widen his eyes, "This is the glasses for measuring the value of force?"

"Yes, and moreover, it also has the function of infrared glasses. Pang Xiaonan asked Fang to take into account as much as possible in the wartime environment when developing these glasses.

Since it can measure the force value, according to Fangzheng, it is to detect biological waves, and it can naturally detect the activities of living organisms.

"Are you here, are you allowed?" Bei Dajun obviously knew the value of the glasses, but he cared about whether this was a toy or really high-tech.

"It's very accurate, you can rest assured. Pang Xiaonan explained the process of developing this glasses and the related principles to Bei Dajun one by one.

When Bei Dajun heard that this glasses could make up the martial artist's force value, he couldn't help frowning, and asked: "I see that your force value is 96, according to your algorithm, you are at the peak level of martial arts?"

"Yes. Pang Xiaonan nodded.

"Hehe, it's impossible, right?" Bei Dajun tilted his head and looked at Pang Xiaonan, with a smile of disbelief in his eyes.

"If you don't believe me, you can try. Pang Xiaonan seemed to be smiling, and it didn't look like a joke.

"You have really reached the peak of martial arts, damn it, it's only been a few days!" Bei Dajun believed that Pang Xiaonan was not talking nonsense.

"Let me tell you, this is the biggest gain from going to New Blos this time!" Pang Xiaonan didn't hide it, "That island is not only suitable for cultivation, but there are also many opportunities to accelerate cultivation." ”

"Looks like I should really take a trip to New Bloss. "Bei Dajun regretted it a little, if it wasn't for the Black Mamba, he would have followed the Black Mamba Escort to participate in this operation.

"Don't regret it yet, if these glasses are really fine, is the Black Mamba willing to purchase them?" Pang Xiaonan finally said the ultimate purpose of this time.

"If, as you said, it really has such a miraculous effect, we will naturally purchase it. "Bei Dajun knows the value of this pair of glasses, and if he can equip the black mamba for the first time, it can play an unexpected role.

"Then let's sign a contract. Pang Xiaonan thought that acquaintances were easy to do, so he had to start first.

"What's the hurry, can't we study it?" Bei Dajun put down his glasses and took a sip of tea, "Don't worry, as long as it's okay, I will definitely make this deal with you." ”

"Then I'll put these glasses here, don't break them, I spent millions to develop them. Pang Xiaonan deliberately expanded the funds several times, and it seemed that his glasses were indeed very high-tech.

"You kid, weird, I can't figure out what your identity is, you're a student, you're a member of our Black Mamba team, you're also engaged in research and development, and you want to do business with the military, you say, who are you?"

"I'm me, different fireworks, haha," Pang Xiaonan joked, "You don't care who I am, anyway, what's good for you, you just have to carry it out, right, who is with whom, can I still harm you?"

"Okay, put the glasses here, I'll help you implement them as soon as possible. Bei Dajun sent Pang Xiaonan away, curiously took the force value glasses, and went to find the weapons expert of the Black Mamba.

When he left the Black Mamba, it was already late at night, Pang Xiaonan was driving on the Binhai Avenue, and the cool sea breeze was blowing in his face, and suddenly the phone rang.

The Bluetooth in the car automatically answered the call, and it was Zhang Jiao who called.

"Pang Xiaonan, where have you been during this time, why can't I get through to your phone. ”

Zhang Jiao on the phone seemed a little excited, because Pang Xiaonan had been missing contact for a while, and finally got in touch again.

"Teacher Zhang, I went back to my hometown during this time, and the signal at home was not very good, so the phone was a little unavailable. ”

Pang Xiaonan's excuse has been said many times, so he came casually.

"I see. ”

"Is there something wrong?"

"Are you free tomorrow?"

"What's wrong?"

"I want to come to your house for dinner. ”

"Dinner again?"

"I'll bring the vegetables. ”

"Teacher Zhang, why don't I invite you to eat outside?"

"No, I'll eat at your house. ”

"But I don't want to do it. ”

"Then I'll do it. ”

"Forget it, I'll do it. ”

"Okay, then even if you agree, I'll come over in the afternoon. ”

......

Pang Xiaonan originally wanted to refuse, but after going around and around, he was still surrounded by Zhang Yao.

Tomorrow is the weekend, Zhang Yao really has nowhere to go, but Xiong Junjun is also at home, and Pang Xiaonan is still lazy.

But Zhang Yao's unreliable statement of cooking made Pang Xiaonan afraid, because he had seen Zhang Yao's knife skills, and at first glance he was a daughter who had never cooked.

However, Xiong Junjun is at home, and Zhang Junjun can still do it.

Pang Xiaonan felt very distressed, why did this Zhang Xiao not treat himself as an outsider like this, he Pang Xiaonan also needed private space, although Zhang Xiao was not diligent, but it also affected his weekend arrangement.

However, it seems that there are no plans for the weekend.

When Pang Xiaonan arrived home, Xiong Junjun had already returned, and when he saw Pang Xiaonan entering the house, he immediately got up and cared: "Brother, are you hungry, do you want to eat some supper." ”

"No, I'm still very full, besides, it's not good to eat supper, it will affect my figure. Pang Xiaonan grimaced at Xiong Junjun.

"Oh, do you have tea?" Xiong Junjun still didn't sit down.

Pang Xiaonan walked to the side of the sofa and said, "If you don't drink, why don't you sleep." ”

"I'm waiting for you to come back. Xiong Junjun told the truth, after Pang Xiaonan came back, she was still worried that Pang Xiaonan would leave her to go to other places again.

"Fool, my dragon can't see the end, you don't have to wait, rest early. Pang Xiaonan sat down and looked at Xiong Junjun lovingly.

"I didn't sleep well if you didn't come back. "Yes, a huge house, if there is no male owner at home, it is indeed difficult to have a sense of security.

"How are you doing at school lately?" Pang Xiaonan remembered these days, because he was very busy, he rarely cared about Xiong Junjun, although Xiong Junjun wanted to promise himself that he didn't agree, after all, he was still his sister in name.

"Well, brother, don't worry, I'm sure I'll be admitted to Dongli Military Academy. Xiong Junjun is very confident in her results, and she is now in the top three of her class.

"That's good, by the way, that Anji or something, didn't trouble you again, right?" Pang Xiaonan was still worried about whether his flowery sister would be bullied at school.

"He, don't dare to trouble me now," Xiong Junjun couldn't help but laugh when he thought of that kid, "He is studying hard every day now, it seems that his sister went back to teach him a lesson, and he also said that he would be admitted to the Dongli Military Academy, and besides, he said that he would always protect me......"

Speaking of the back, Xiong Junjun began to blush a little.

"Haha, it looks like he's been woken up. Pang Xiaonan was happy that he had saved a runaway teenager, but it reminded him of Angelina.

"Okay, it's not early, I'm going to sleep, you can rest early. Pang Xiaonan got up and walked upstairs.

"Okay, brother, good night. ”

The next day, Pang Xiaonan remembered that the Spring Bamboo Shoot Fund still needed financing, so after he finished his morning exercise, he went to Councilor Wang.

Walking into the garden of Councilor Wang's villa, I happened to meet Councilor Wang doing Tai Chi under a tree.

"Yo, Lao Wang, you got up early. Pang Xiaonan walked over and greeted Councilor Wang.

"You're up so early, of course I can't get behind you. Councilor Wang put away his tricks and looked at Pang Xiaonan with a smile, "Why, you have something to do with me so early?"

"It's a little trivial, have you had breakfast, or I'll invite you to breakfast, and we'll talk while eating?" Pang Xiaonan and Councilor Wang have eaten many times, but they haven't had breakfast.

"You invite me to breakfast? There is breakfast at home, let's go, let's go into the house." Councilor Wang said and was about to walk towards the villa.

"Don't you get tired of eating at home every day? Pang Xiaonan still insisted on eating out.

"Okay, listen to you, I'll talk to my family. ”

The two came to the farmer's housing area on Hailong Island, which was already crowded.

Although today is Sunday, there is no special difference for working people.

This urban village on Hailong Island is a relatively remote urban village in Huahai City, and most of the immigrants living here rely on art for a living.

People who make a living from art mean that they don't have to work hard every day to squeeze transportation, but only need to stay at home and constantly polish their craft.

Among them, there are those who paint, those who write calligraphy, those who write, and those who engage in photography, in short, as long as they are involved in calligraphy and painting, they all prosper and develop in this urban village on Hailong Island.

These people, either unknown or soaring into the sky, are said to be the most famous painters who have gone out here, and a painting has numbered in the tens of millions.

Most of the houses in this urban village are five- or six-story houses, and later the government felt that the style of the urban village was really uneven in such a high-end residential area as Hailong Island, so it carried out several urban village renovations, and the houses in this area were all full of artistic sense.

The exterior walls of the house are painted in a uniform blue, a faint blue, which is very compatible with the blue sky and white clouds, and then some houses invite painters outside, no, it should be said that graffiti artists have painted a shocking picture, so that the artistic atmosphere here has immediately improved a notch.

Now those who come to Hailong Island can not go to the playground on the island, or they can not see the mountains and the sea, but they will definitely come to this urban village to experience it.

Because this village is located on Hailong Island, it is called Hailong Village. Since Hailong Village was deliberately developed into an art village by the government, it has become more and more prosperous, and those young people who dream of entering the art palace by artistic means have flocked to Hailong Village from all over China, setting off Hailong Village more and more artistic.

Although artists have the habit of going to bed late and waking up late, the people who serve artists have already begun to work hard. There are also the local residents of Hailong Village, who used to be either farmers or fishermen, and are also used to getting up early, but now they have become charter tenants, and they have nothing to do.

The plan of the day lies in the morning, drinking morning tea is a must-have homework for the indigenous residents of Huahai City every morning, although the consumption is not very high, but there must be enough time, those office workers are unable to enjoy this process.

Pang Xiaonan and Councilor Wang came to a relatively high-grade restaurant in Hailong Village, and Pang Xiaonan asked Councilor Wang, "Have you come here for morning tea?"

Councilor Wang shook his head and said, "I, I didn't come here for a long time, you see, there must be a lot of people inside." ”

Sure enough, as soon as the two of them entered, they saw a bustling crowd, and the welcome lady said that it was already full inside, and she needed to get a number and queue up.

Councilor Wang said to Pang Xiaonan: "Forget it, let's go out and find a roadside stall to eat, how about eating rice rolls?"

Pang Xiaonan didn't do it, he pointed to the crowded people on the first floor of the hotel and said: "Where business is booming, there must be its characteristics, queue up, I have to see today, what is outstanding here." You're okay anyway, I'm fine, just sit here and wait. ”

So the two sat at the elevator entrance of the hotel lobby and waited for about 10 minutes, and the big screen hanging on the wall showed that their number was lined up, so Pang Xiaonan took the note and followed the service staff into the banquet hall on the first floor.

This is a medium-sized restaurant, which is also a landmark building in Hailong Village, doing morning tea business in the morning, banquets at noon, and picking up some individual guests in the evening, and the banquet hall is also considered to be the best use.

Pang Xiaonan ordered a pot of black tea, then ordered a few refreshments, and then he and Councilor Wang began to wait patiently. At this time, someone came over with a tea cart, and the little sister who pushed the cart told Pang Xiaonan that if you want to eat morning tea quickly, you can take the menu to the table by yourself.

Pang Xiaonan got up and said to Councilor Wang, "You wait, I'll serve it myself." ”

When the business of the restaurant is too good and the service staff is not enough, it is best to do it yourself and have enough food and clothing, otherwise you may not be able to eat when the flowers are gone.

Soon, Pang Xiaonan came back with a few baskets of refreshments.

"Come, eat, Lao Wang, you're welcome. This is the first time that Pang Xiaonan has invited Councilor Wang to dinner, and he has eaten a simple breakfast.

"What are you looking for from me?" Councilor Wang picked up a barbecued pork bun and chewed it, "Well, I haven't eaten this for a long time, it tastes very authentic." ”

"That's right, our fund, the speed of burning money is too fast, and it's about to run out of food, I'll find you a way. Pang Xiaonan got straight to the point, and there was a shrimp dumpling in the bowl.

"Oh, no money?" Councilor Wang nodded, "Actually, I knew from the beginning that your millions would be good to start with, but I didn't expect it to run out so quickly, let's say, how much more?"

"This, I'm not too good to say, because I don't have a specific matter, what do you say?" Pang Xiaonan ate shrimp dumplings in his mouth, and looked at Councilor Wang, "You are a leader in the investment world, you have experience." ”

Pang Xiaonan picked up Councilor Wang first and asked him to give advice for himself.

"I've seen your software, it's doing a good job, and it's the right idea. Councilor Wang first affirmed Berkeza's achievements, "If you want to become bigger immediately, you must throw money into it." ”

"Won't it be very risky to smash too much?" Pang Xiaonan felt a little risky, these Internet businesses, which year is not full of sorrow, and now the era of Internet dividends has long passed.

"It's risky to smash less. Councilor Wang took a sip of tea, smashed his mouth, and talked to Pang Xiaonan about the concept of Internet investment in a serious manner.

"If the Internet business wants to be bigger, it must form a monopoly, you see now, you think of who you will use for searching, who you will use for chatting, who will you use for mobile phone payment? There are only one or two representative companies in each field, and the others are cannon fodder. ”

"So you're saying we have to be the leading company in the information field to survive. Pang Xiaonan heard some doorways, and he took another cabbage sum and put it in his mouth and chewed it.

"That's right," Councilor Wang also sandwiched a choy sum, which is green and appetizing, "but if you want to become a head company, you must gather a large number of users in a short period of time to form a traffic barrier. ”

"Can't you accumulate it slowly, I see that the homepage news is quite popular, and with word of mouth, are you still afraid that there will be no users?" Pang Xiaonan is still a little worried about the paid traffic, just like advertising, the money is spent, but it is hard to say whether it can produce benefits.

"You rely on organic traffic to attract customers, it's too slow!" Councilor Wang pointed out sharply, "Don't talk about Internet business, just like those famous brand products in the past, in addition to the good products, which one is not overwhelming advertising, on TV, in newspapers, on roadside billboards, as long as you can see the place, the famous brand will definitely appear in front of your eyes." ”

Pang Xiaonan nodded, many people know a product, they all come from advertising, no matter what channel it is, word of mouth will only be actively spread after it has been used, but this efficiency is really slow.

Councilor Wang continued to teach Pang Xiaonan, "Word of mouth is something that people will take the initiative to spread only after they have experienced it, but why do people use your things? Where do they know your things? It can only be advertising, so we can only make our products enter thousands of households if we continue to increase investment in advertising." ”

"It's not enough to just advertise, the essence of the product must be excellent. Pang Xiaonan still put forward higher requirements for the quality of the product.

"Of course, the premise of your advertising is that the quality of the product must be guaranteed, otherwise, the more you advertise, the worse your reputation will be, and the sooner you will die. "Councilor Wang also has high requirements for quality, if it weren't for the fact that Pang Xiaonan and their career are doing well, he would not have joined the ranks of investment.

"Then how much do you think we need to invest in advertising?" Pang Xiaonan doesn't know much about the specific operation of investment, but only a little bit of investment philosophy, which is Councilor Wang's field.

"That's it, I'll invest another 100 million. Councilor Wang threw out an astronomical number.

"100 million?" Pang Xiaonan was a little surprised, and hurriedly took a sip of tea to suppress the shock, "Are you really optimistic about our business?"

"Either you don't do it, or if you want to do it, you can make it bigger!" Councilor Wang sandwiched a piece of rice noodles into his mouth, the glutinous feeling filled his mouth, and the smooth rice noodles melted in his throat.

"Damn, can you invest a little less, you come in with 100 million, I, the founder, am still mixed with wool, the original fund is still mine, so it will be yours. Although Pang Xiaonan knows that money is very important, he also knows that capital is terrible, even if it is the best friend, when it comes to interests, he has to be courteous before he soldiers.

"Who said I was going to invest in your fund, I just invested in your project, which is now the company on the homepage. Councilor Wang glanced at Pang Xiaonan and continued to eat his rice rolls.

Now the company is the only project of our fund, and if you annex the company, you will swallow the fund. "Pang Xiaonan is not stupid, and if you play with a master like Councilor Wang, you must have a little heart.

"I won't vote for less. Councilor Wang completely extinguished Pang Xiaonan's illusions.

"Vote less. But Pang Xiaonan still wants to fight for it, according to Zhang Ping, it is really impossible to open the pot.

"It's useless to vote less, or you look for someone else. Councilor Wang still didn't let go, because he knew that this kind of business, if the funds are too small, it can't be played at all, as long as there are latecomers who are willing to spend money, your creativity and talent are someone else's.

"Eh, don't tell me, I really have a candidate here. Pang Xiaonan suddenly remembered someone.

"Who?" Councilor Wang knew that Pang Xiaonan didn't know a few people in the investment circle, and a candidate suddenly appeared, which surprised him.

"Zhang Ping's father, Zhang Wanliang, do you know each other?" Pang Xiaonan felt that they were all people who were mixed up in the shopping mall in Huahai City, and Councilor Wang should know Zhang Wanliang.

"Zhang Wanliang is Zhang Ping's father, so this problem will be easy to handle. When Councilor Wang heard Zhang Wanliang's name, his eyes suddenly flashed.

"What's a good way?" Pang Xiaonan also sandwiched a rice roll, a bowl of rice rolls is four, Councilor Wang has already eaten three, Pang Xiaonan has not tried any taste.

"Or invest 100 million, I will invest 70 million, he will invest 30 million, what do you think?" Congressman Wang felt that the basic principle of 100 million cannot be shaken.

"According to your investment method, do you think Zhang Wanliang is not as rich as you?" Pang Xiaonan knows the difference between leading and co-investing, generally speaking, rich people lead the investment of large amounts, and poorer consortia follow the investment of small amounts.

"No, it's not a question of who has the money," Councilor Wang shook his head, "It's a balance, and it's also a way to diversify risks, and I have a stronger ability to resist risks, so I vote more." ”

"Doesn't that mean you're rich? Pang Xiaonan disagreed, Councilor Wang was showing off his wealth nakedly.

"Okay, this refreshment is almost finished, why don't you go get some more?" Councilor Wang looked at Pang Xiaonan with a smile, he had to slaughter this kid well today.

"You, you delicious ghost!" Pang Xiaonan got up and brought a large stack of bamboo cages, and there were a few special refreshments in it.

"Come, eat, eat until you are sick to your stomach. Pang Xiaonan took the lead in picking up a tiger skin and phoenix claw and chewing it.

"Don't be so stingy, this is a business of 100 million yuan, and you are reluctant to eat a few plates of your side dishes? Councilor Wang was afraid that Pang Xiaonan would be cheated when he arrived, so he declared in advance that he came out naked.

"Don't worry, I can still afford to raise you. Pang Xiaonan glanced at Councilor Wang, thinking that this old boy didn't treat Pang Xiaonan as a character too much, and thought that he would repay the debt.

"In short, your project, if you want to raise 100 million, you think about it, you spend millions in less than a month, and the money must be getting bigger and bigger, and I don't know if 100 million can support a year. Councillor Wang analyzed the stakes for Pang Xiaonan.

"Yes, you have a point. Pang Xiaonan listened to Councilor Wang's analysis, indeed, with more and more users, there will definitely be more and more places to use money in the future, and financing also has a cost, so it is better to do it in one step.

"But you came in with 100 million, what else is wrong with me?" Pang Xiaonan was still worried that his original intention of founding the fund would be swallowed up by capital.

"You don't have to worry about this, although the capital has come in, but you still have a way to control the entire company, let me give you a brief popularization of what methods there are. "As an investor, Councilor Wang has studied the company quite thoroughly.

There are two kinds of rights in equity, property rights (money) and discourse rights (rights). How to divide "money" without dividing "power"?

Control of the company is the top priority for every founder. The management team of real estate flagship Vanke accounts for about 5% of the company's shares, so it has repeatedly suffered from barbarian invasions. On the other hand, Ma Yun only owns 7.8% of Alibaba's shares, but still holds control of the company and becomes the richest man in China, while the founders of many listed companies have a stake of around 20%. So, how do founders take control of a company without a controlling stake?

How much shares should a partner be given to him when they come in? In fact, there is no 100% scientific and accurate formula. In many cases, the distribution of equity is played between partner teams according to their own roles, abilities and resources. However, although there is no 100% formula, some models and cases are used to help everyone divide the equity.

First of all, you need to profile all the shareholders of the company. In a company, shareholders are divided into two categories: external shareholders and internal shareholders.

External shareholders are mainly investors. Because for external shareholders and investors, they usually come in according to the model of issuing new shares, and after coming in, they usually dilute all the previous shareholders in the same proportion, so for investors, it is more about "how much money you need, how many shares are you willing to sell at most", and more about the company's valuation.

Internal shareholders include several parts: the first is the founder of the company, who is usually the boss of the company, the second is the team of partners, and the third is the employees of the company. How to distribute the equity among internal shareholders is facing a complex game.

According to the Huaguo Company Law and the Articles of Association, the highest decision-making body of the company is the shareholders' meeting, and most of the ordinary voting matters of the shareholders' meeting are approved by more than one-half of the voting rights, while a few major matters such as the amendment of the articles of association of the company also require more than two-thirds of the voting rights to pass. With a controlling stake, you can control the decisions of the shareholders' meeting, and thus the company.

There are three forms of shareholding structure of the company, which are absolute holding, relative holding and non-holding.

A key figure related to China's company law: more than two-thirds, or more than 67%, is absolute control.

This means that, procedurally, all shareholders can negotiate democratically on all major matters of the company, but as a result, all shareholders' objections are null and void. One person who is the majority shareholder of the company can decide everything about the company. If the founder's entrepreneurial resources and abilities are absolutely concentrated, the model of absolute control can be considered.

There are two different ways to achieve absolute holding. First, the majority shareholder has absolute control. On the other hand, if two shareholders trust each other, more than two-thirds of the two people together is also a way to achieve this. For example, in Tencent's early shareholding structure, Ma Huateng only held 47.5% of the shares, but his college classmate and entrepreneurial partner, Zhang Zhidong, held 20% of the shares, and the two of them together accounted for more than two-thirds, which can also form an absolute controlling stake.

The Company Law stipulates that if a shareholder holds more than half of the shares, it is a relative control. Except for a few things that the major shareholder can't make alone, he can make decisions on most other things. The main thing that cannot be decided is whether the company's procedures damage the interests of other shareholders, such as the company's merger, dissolution and liquidation, dividends, and amending the company's articles of association to increase the company's registered capital.

If the founding team holds less than 50% of the shares. The founding shareholders only have one veto, but it is not a one-vote decision, and it is not a one-vote veto on all matters.

So how do you control the company without holding?

When many companies go public, the founders do not have a controlling stake. For many domestic companies listed in the United States, the founder's holding is basically about 20% after listing. So, how can the founder control the company without controlling it? There are usually the following four models:

The first is the entrustment of voting rights, in which the shareholders of the company entrust their voting rights to other specific shareholders (such as founding shareholders) through the agreement. For example, JD.com went through multiple rounds of financing before going public, and when it was listed, Dongge only had about 20% of the shares, but before the listing, Dongge had more than 50% of the voting rights, because many investors who came in later entrusted their voting rights to Dongge to exercise.

The second is the concerted actor agreement, when the equity is relatively dispersed, or the equity between the two major shareholders is very close, if everyone disagrees, it is particularly detrimental to the stability of the company. "Persons acting in concert" means that certain shareholders act in concert on specific matters through an agreement. In the event of disagreement, certain shareholders vote with the person acting in concert. This method is also more common in A-share listed companies.

The third is the shareholding platform model, which is divided into two types, the first is the limited partnership model and the other is the limited liability company model.

Limited partnerships also need to be registered for industry and commerce, and the design of voting rights between partners is special. In this model, there are two types of partners: general partners (GPs) and limited partners (LPs). The general partner undertakes the management function, while the limited partner, as the investor, does not participate in the management of the enterprise and only enjoys the benefits. The control of the general partner is not related to his shareholding ratio, but to his identity.

Mantis Financial is a limited partner model. Mantis Financial has two major shareholders: Hangzhou Junhan and Hangzhou Junao. Both companies are limited partner models. They have a common general partner, Hangzhou Yunbai, and the voting rights are basically in its hands. And this company is behind the same person - Ma Yun.

Through this design, Mantis Financial has divided a large part of the benefits to the team, but 100% control is in the hands of Ma Yun. Peng Lei, a partner of Mantis Financial, said in an interview: "Ma Yun's shareholding in Mantis Financial does not exceed his stake in Alibaba Group, that is, less than 10%. "The Horse Movement only shared the benefits, but not the control.

The limited liability company model is to set up a limited liability company at the shareholder level, through which the rights of shareholders are formed. Haidilao is this structure.

In Haidilao's shareholding structure, Daniel Zhang and his wife only hold 33.5% of Haidilao's shares, but they have 83.5% of the voting rights. The reason why voting rights are higher than shareholding ratios is because of the design of the shareholding platform.

50% of Haidilao's shares are held in the form of a limited liability company, namely Jingyuan Investment. In this limited liability company, the founder Daniel Zhang and his wife together account for more than 2/3 of the shares, which is an absolute control, essentially concentrating the voting rights of his partners in his hands. The other two shareholders of Jingyuan Investment only have the right to dividends and no voting rights.

But in this model, only if you hold more than 51% of the shares, you have control. Because the voting rights of a limited liability company are linked to the proportion of equity.

The last model is the AB share plan, which splits the company's shares into two categories, one is called Class A shares, which are held by external investors, and one share corresponds to one voting right, and the other is called Class B shares, which are held by the management team, and one share has multiple voting rights.

For example, Tang Yan, the founder of Momo, has 10 voting rights in 1 share, JD Dongge has 20 voting rights in 1 share, and Twitter founder has 70 voting rights in 1 share. However, the AB-share plan has its application and is not currently accepted in some capital markets.

Pang Xiaonan listened attentively, but his head was also big, because this was a field he had never set foot in.

"You're too complicated, I just want to know, you 100 million come in, can I retain control?" Pang Xiaonan's goal was to the essence of the problem.

"No problem, I can delegate my voting rights to you. "Councilor Wang originally wanted to come in to help Pang Xiaonan and make some money by the way, but he had no intention of seizing power at all, and he knew that Pang Xiaonan could listen to what he said, and he still had to refer to his opinion in the final decision.

"Oh...... So that's the case, I understand this, it means that you only need to divide the money, and then you give me your voting rights, and we will have absolute control together!" Pang Xiaonan continued to eat a tiger skin and phoenix claws, this is the hand that grabs money.

"That's right, that's what it means, by the way, did you give the shares to Zhang Ping?" Councilor Wang suddenly remembered that Pang Xiaonan was just a hands-off shopkeeper, and the fund was actually operated by Zhang Ping.

"No, only options. Pang Xiaonan verbally promised that if the company developed in the future, he would give her shares, but Zhang Ping didn't take it seriously, so he agreed.

"This can't be done, although you have a good relationship, but your brothers also have to settle accounts, not to mention that you are just a simple male and female classmate relationship. Councilor Wang raised his eyebrows at Pang Xiaonan, "It just so happens that this time when his father comes in, he will plan the affairs of this share well, and it must be justified." ”

"Okay, you can help me plan it, I can't figure it out anyway. Pang Xiaonan has a headache when he thinks of running a company, the laws of this country are too complicated, especially the company law.

"I don't have that level, I'm old, let Zhang Wanliang design it when the time comes, we nod and approve, and it's done." Councillor Wang took a piece of taro and threw it into his mouth.

"Lao Wang, the export of the project you are talking about is 100 million, or you will invite this meal?"

"Get out!"

After eating morning tea, Pang Xiaonan and Councilor Wang walked back to Hailong Community along the seaside path, Pang Xiaonan asked about Councilor Wang's condition, "How is it, Lao Wang, is there nothing wrong with your health now?"

"Now, I feel more than ten years younger, and I still want to thank you for your treatment. "Councillor Wang's pace is steady, and he is indeed a bit of a healthy middle-aged person.

"The medicine can't be stopped, I'll get you a few more tonic pairs another day......"