Still not going back to China? Luo Yonghao gave Jia Yueting a hammer.

As the year is approaching, those who owe money and don't pay it back should be careful.

Jia Yueting, the former CEO who personally built LeTV, hollowed it out and then changed hands and abandoned it, has made new moves recently.

65438+1On October 28th, Faraday Future (FF), a car-making project in Jia Yueting, officially announced the acquisition of a special purpose acquisition company and went public in the United States. This and this move seem to be fulfilling the promise of compensation to creditors, but all parties are still waiting to see.

This Year of the Ox, for Jia Yueting, who is divorced and in debt of tens of billions, can only be alone in a foreign country, enjoying the joke of "returning to China next week".

But for Luo Yonghao, CEO of Hammer Technology, this is the most relaxing New Year for him in three years.

Luo Yonghao, who was once in debt of 600 million yuan, began to issue year-end bonus: "This year, because the debt has not been paid off, the year-end bonus is given symbolically 1 yuan. (202,654,38+0) should be paid off before the end of the year, and I will definitely not be soft next year. "

The live broadcast gave him the confidence to ask for the 2002 1 year-end bonus, especially on the live broadcast list of February1,Luo Yonghao ranked among the top three among the "Four Kings" with a turnover of 600 million yuan.

Four months ago, at the talk show conference, he said, "This debt of 600 million started from the end of 2065438+2008, and today we have paid off almost 400 million."

The same is the "debt CEO", where the performance of "real return" has won praise and respect; On the other hand, I am planning to "make a comeback", but there are lessons from LeTV. In the face of this FF, investors have to be cautious.

Luo Yonghao is not a perfect entrepreneur, but he is a "perfect debtor", which Jia Yueting should really learn from.

20 19, 1 1 year 10, Luo Yonghao acknowledged the debt of 600 million yuan in response to the order of Danyang court to restrict high consumption and the progress of Hammer Technology in coping with the business crisis.

Jia Yueting, by contrast, is not so honest. I'm afraid he doesn't even know how much money he owes.

On June 20 19, the debt handling team of Jia Yueting said that it had repaid more than USD 3 billion in debt for LeTV, with USD 3.6 billion to be repaid. After deducting the frozen domestic assets and convertible secured debt to be disposed of, the net debt was about USD 2 billion.

However, LeTV later announced that this was only Jia Yueting's unilateral statistics, and denied that it had paid back 3 billion yuan. Letv.com pointed out that Jia Yueting, as a major shareholder, failed to fulfill its commitment to provide Letv with a loan of 5.7 billion yuan, and also provided guarantees in violation of regulations in 20 15, resulting in a debt of 9.8 billion yuan. The company disclosed the results of the third quarter of 2065438+2009, with losses as high as tens of billions, and its operation was extremely difficult.

There are two choices before Lao Luo and Lao Jia:

Luo Yonghao chose the latter. "Bankruptcy liquidation will make many creditors who have helped us in the past, as well as our investors, completely lose hope." .

He expressed his understanding of the creditor's lawsuit and recovery, and also explained that the company changed its legal person and pledged its equity only to pay off its debts and continue to operate, not to pay off its debts. He promised that even if the company was completely shut down due to force majeure, he could personally "busk" to pay his debts.

His Weibo certification still retains the identity of "CEO of Hammer Technology". He said: "Hammer Technology will continue to do so."

In 20 17, before letv entered the dark moment, Jia Yueting had "hatched the golden cicada".

In May, he resigned as the general manager and chairman of LeTV and only remained as the global chairman of LeTV, saying that he went to the United States for financing and returned two weeks later, but actually he has not returned yet.

65438+ In February of that year, he was on the list of people who had lost their trust.

Jia Yueting was really taken aback.

20 16 1 1 published an internal letter from Jia Yueting, entitled "letv's sea water and flame: was it swallowed up by huge waves or boiled? 》。

What caused the shock was that he exposed the management problems of LeTV, which can be summarized in one sentence: the stall is too big and there is no money in the pocket.

The solution has two sentences.

The first sentence: don't burn money yet, I only get the company's annual salary 1 yuan.

The rest of the sentence merged into a dose of chicken blood: "Run in the same direction, let's build an ecological world together ... dreams burn, who says the ocean can't boil?" This is exactly the same as the slogan of "suffocating for dreams".

A week later, LeTV stopped working in the electric car factory in Nevada, USA. According to Reuters, local officials said that the California-based FF company missed the payment deadline.

At that time, FF refused to confirm this, saying only that the factory would restart on 20 17. However, the state finance minister responded in an interview: "A new company that has never made a car, with the support of a mysterious China billionaire, built a new factory in the middle of the desert. This is a Ponzi scheme. "

On March 20 17, FF headquarters began to lay off employees on a large scale, which was pointed out to be false recruitment. In May, the headquarters was close to the empty building and office supplies were sold cheaply.

On Christmas Day, Jia Yueting sent a photo with "hundreds of employees" in Weibo. A favorable comment that was rushed to the end of the comment area wrote: "Boy, with money, the quality of the water army invited is better than before, awesome!"

It's just that what he wants is not how to save LeTV, but how to get out of it.

"No need." Luo Yonghao's friend advised.

Bankruptcy is a mechanism to encourage and protect entrepreneurs by law in modern society. Luo Yonghao didn't follow the crowd and insisted on paying back the money, but he added, "Don't think so much about my debt."

Luo Yonghao is morally guilty of owing money, but he is wary of the evaluation of "noble". Weighing "honesty" and "conscience" is more important than high debt and face.

He abides by the rules of the Jianghu. One is that it is natural to pay back debts, and the other is that it is not difficult to borrow anything. Obviously, he didn't want to be looked down upon from the beginning and lost on the "starting line again" until he was sure to win it in one fell swoop.

Conservative and cautious, not in line with the public's consistent impression of Luo Yonghao. After all, he is a fighter bragging about "buying apples", publicly smashing his own Siemens refrigerator to protect his rights and turning customers into counterfeiters.

It's not reckless for Luo Yonghao to sign 600 million debt repayment. He told visitors: "I think I am still valuable ... all within the controllable boundaries."

In the confession letter of CEO Lao Lai, it is mentioned: (20 19 year to date) In the past 10 month, we have paid off about 300 million corporate debts.

Paying back money is a rational choice made by a middle-aged man based on his sense of responsibility and weighing the pros and cons.

Jia Yueting didn't deal with the debt itself. Even if the CSRC sent him back to China twice to clean up the mess, he only asked his wife to return to China to deal with debts and let his brother exercise shareholder rights and fulfill shareholder obligations on his behalf.

20 19- 10 filed for bankruptcy reorganization in the United States. According to the plan, he will set up a creditor's trust to transfer his personal assets recognized by American courts, that is, FF equity and related income rights, to the creditor's trust, and the creditors will get compensation from it, which is interpreted by the outside world as "changing creditors into shareholders". This money-burning project FF, which has not yet been formed, has been tied up again. To this end, Jia Yueting also claimed to have invited creditors to visit the United States.

Is this olive branch a signal of sincerity or danger? Creditors who submitted 199 creditor's rights have different smells and ideas, and 80% of them accepted this scheme. Confirmed by the court, the bankruptcy reorganization of Jia Yueting was finally completed in July 2020.

Jia Yueting immediately issued a letter of apology commitment, saying that "starting my life again, working with an entrepreneurial attitude, starting a business with work, and making FF a commitment to everyone" will quickly complete the listing of FF in a short time, "so that I can' set foot on the road home'".

At this time, it has been three years since the exposure of the LeTV crisis. Less than a month after the letter of commitment was issued, LeTV withdrew from the market, leaving 280,000 shareholders, suffocating for the dream he had promised.

We can't see the life of "migrant workers" in Jia Yueting.

What we see is that in order to pay off the remaining debts, Luo Yonghao promoted the shark pattern technology, which was questioned as a flicker and gave up; I hoped for e-cigarettes, but I met a ban on online sales on the day of sale, and this road was blocked; Coupled with the broken capital chain of Hammer Technology, it was ridiculed as "industry ghost lamp".

E-commerce live broadcast is another attempt of Luo Yonghao, and it is also the hardest job on his way to pay off debts.

On April 1 day, the first show sold 1. 1 billion yuan, attracting 48 million people to watch, setting a new record for the anchor's first show. This achievement is the fast lane for him to become a "free man".

But not as long as he works hard to make money and pay off debts, onlookers will give corresponding recognition. The ridicule of "speculators", "making quick money" and "disgraceful" followed.

Bringing goods for Xiaomi 10 became a highlight of his first show. In the barrage of the live broadcast room, the hammer painted "I want a hammer mobile phone". Later, Luo Yonghao bluntly said: "I am sorry that the operation of the hammer department failed; They (fans who brush the barrage) are very inappropriate. "

In August last year, Luo Yonghao endorsed this mobile game and jokingly recommended it on the Weibo: "Hello everyone, I am Zazahao."

Online saliva was sprayed with words such as "low" and "trampling on ideals in order to make money". Some people think that he "finally survived, in the way you hate most". Luo Yonghao retorted, "How? What I hate is actually a fool like you. "

Luo Yonghao temporarily put down the peak he had been to, but fans and strangers still stayed in the previous "legend" and "imagination" and heard the broken sound of the "idealist" aura pinned on him.

Luo Yonghao is willing to explain, willing to communicate, but he is black, perhaps more than people who understand him.

However, an article poked him with the title "Live broadcast is the dream of many people, but it is Lao Luo's entanglement with dreams". He said, "here's the thing."

Someone noticed the changes in his live broadcast room, from the pale and cramped broadcast on the first day to the simple and intuitive background, saying, "You really export your thoughts to your peers all the year round, and even the live PPT has been imitated." A netizen whom he called a "wise man" wrote: "The statement of an industry killer is too unreasonable. He is obviously trying to improve the quality of his products. "

Luo Yonghao's live broadcast also turned over many times, but in the rescue measures of apology, refund and compensation for losses, the audience saw an honest operator who did not abandon the pot, did not escape, and tried his best to pay for the mistake.

This is also what Jia Yueting needs to understand most: Losing honesty means going bankrupt for life.

Luo Yonghao is a debtor and one of countless entrepreneurs who lost their lives for a while.

Paying off debts is his responsibility for business failure, and it is also an explanation for investors, suppliers, employees and hammer powder. This is the greatest dignity of an entrepreneur and an entrepreneur, and it is also the biggest difference between him and Jia Yueting, although the latter declared personal bankruptcy without being accused in law.

I have also done the business of burning money. Luo Yonghao owes Hammer Technology 600 million yuan, which is controllable and affordable; However, Jia Yueting let LeTV, whose market value once swelled to 65.438+070 billion, bear tens of billions of debts and fall into a bottomless pit, and finally its market value was 6.7 billion.

Whether the risk can be controlled depends on the decision-making motivation of the operators. A person who wants to continue working knows how to pull back from the cliff, and a person who just wants to arbitrage from it constantly challenges the risk threshold until the balloon explodes and leaves.

Entrepreneurs are a group of risk-averse people, but the most dangerous types are speculators who are eloquent but do not take responsibility and risk, and make money by taking advantage of people's weaknesses.

Nowadays, the threshold for starting a business is decreasing.

Entrepreneurs used to spend their own money first. Now more and more people use other people's money to play tricks.

There are angel investors in the world, and there are thousands of investors and users in Qian Qian. When they reach out for money, these are rich fathers. When something happened, they all became grandchildren.

* * * The multi-year deposit for bicycle ofo has been refunded; Danke apartment makes tenants and homeowners hurt each other, and employees are still being paid back. ...

Xuebajun angered, and CEO Zhang responded in the live broadcast room: "This is a loss. Don't you know that this is a loss? " I suggest we all make fun of it together. I have no money. You should sue merchants, Wan Xin and these people together. You know, they're rich ... make them take responsibility. "Throw the pot gently, like watching a lively has nothing to do with yourself.

What is even weirder is that at the moment when those well-known institutions exploded, people simply couldn't tell the difference between them and fraud. Being packaged as a business transaction of venture capital and meeting demand gives people the illusion that it is my fault. It's like choosing the wrong stock, having a weak legal consciousness and being greedy for cheap, instead of those carefully designed and difficult-to-identify traps. Please enter the urn, and you are not negotiable.

A more relaxed entrepreneurial environment and an unscrupulous gambler's mentality make entrepreneurs blowout. Some irresponsible entrepreneurs are not even qualified professional managers. They can't afford the reputation of entrepreneurs.

An entrepreneur with a sense of fiduciary responsibility should not only bear professional and legal responsibilities, but also bear the moral obligation of benefiting others first and then benefiting himself. Therefore, entrepreneurs should pay others first, and take the rest of their own income.

It is difficult to start a business, and heroes are judged by success or failure, but even if the same business fails, its follow-up action is enough for us to distinguish hooligans, liars and our own people.

"In order to make the enterprise bigger, must we use hooliganism?" Luo Yonghao raised such a question in the lecture on entrepreneurial stories on 20 12.

Rogue means, including but not limited to, fooling people around with various concepts, rhetoric and operational means.

One is to make mobile phones, and the other is to sell TV and make cars. Both Luo Yonghao and Jia Yueting have fallen into the high-threshold and money-burning fields of science and technology. In such an entrepreneurial era eager to change from arbitrage to innovation, technology has exploded, but its threshold is very high, and it is also the most confusing because of information asymmetry. Some so-called "innovation" and fake "technology" are pretending to take advantage of people's weaknesses.

For example, quantum fluctuation speed reading, P2P is financial fraud packaged into financial innovation. Now, without some artificial intelligence, I am embarrassed to claim that I am the product of the new decade of 2 1 century.

Entrepreneurship is two sides of an organic whole. On the one hand, it takes risks and creates new value, on the other hand, it guards responsibility and bottom line. In today's entrepreneurial team, speculators who only know adventure, fiction and innovation, but have no responsibility and bottom line, it is they who let business risks spill over into social risks and let ordinary strugglers of innocent families pay for their madness with hard-earned money.

That's why we are more tolerant of Luo Yonghao, who doesn't take unnecessary risks, makes products with his heart, actively solves problems and bears the consequences. We are willing to trust him again.

Luo Yonghao used to be an inspirational spokesperson with the aura of "idealism". He knows his personality charm, but he always refuses to be moved by himself and doesn't want to touch others. He said he didn't like preaching, which also prevented him from becoming a "greasy uncle".

After paying back nearly 400 million yuan, some netizens asked him, is it so profitable to sell goods live? He replied: It also includes1.80 billion yuan for selling the mobile phone team and related intellectual property rights. The other two hundred million consists of two parts: the money earned by participating in another company and the money earned by doing live e-commerce.

He obviously prefers to solve mysteries and create myths.

One more thing, Luo Yonghao hasn't changed. There were few ups and downs in his quick speech. He just said some common sense and experience that he believed and deserved everyone's trust.

At this point, he has surpassed many people.

Editor | He Weizi

Typesetting | Weng Jie