Tencent Technology News On March 17, Pinduoduo founder Huang Zheng issued a letter to shareholders of 2021, announcing that the chairmanship will be handed over to the current CEO Chen Lei after the approval of the board of directors.

After he ceases to serve as chairman of the board and Pinduoduo’s management position, Huang Zheng’s 1:10 super voting rights will also lapse. The voting rights of the shares under his name will be entrusted to the board of directors of Pinduoduo to make decisions by voting.

Huang Zheng made a clear promise that the stocks under his personal name will continue to be locked in the next 3 years and will not be sold.

In explaining this important decision in his letter to shareholders, Huang Zheng stated that the drastic changes in the external environment caused by the epidemic and other reasons have accelerated the iteration of Pinduoduo’s internal business and management. Pinduoduo started from a purely asset-light third-party platform, and began to invest in warehousing, logistics and agricultural sources. New businesses began to sprout and grow rapidly in Pinduoduo. This has not only changed Pinduoduo, but also spawned and trained a new generation of leaders and managers. “It’s time to gradually let more waves rise up and shape their own Pinduoduo.”

Huang Zheng stated in the shareholder letter that after resigning, he will focus on the fields of food science and life sciences, and explore new space for high-speed, high-quality and in-depth development for Pinduoduo ten years later.

In the letter to shareholders, Huang Zheng gave an example and looked forward to the scientific research field he will devote to long-term after resigning as chairman. For example, through the method of controlling the cultivation process of agricultural products, exploring the reliable and effective control of the content of potentially harmful heavy metals such as potatoes, sweet potatoes, tomatoes, etc., and at the same time, the controllable standardization of its possible and beneficial trace elements.

“I can’t become a scientist, but I may have the opportunity to become an assistant to the future (great) scientist. That is also a very happy thing.” Huang Zheng said that in-depth research in these basic science and technology fields will help to break through the innovation of the circulation mode of “breaking down the two ends of the middle supplement” and qualitatively improve the added value of agricultural products and the level of health.

The following is the original text of Huang Zheng’s 2021 letter to shareholders:

This year’s shareholder letter has been advanced a bit in order to keep up with everyone in time. At the board of directors that just opened, the directors approved my request to resign as chairman of Pinduoduo. Chen Lei will take over as chairman from now on and continue to serve as CEO. After I no longer serve as the chairman of the board and the management position of Pinduoduo, my 1:10 super voting rights will also lapse. The voting rights of the shares in my name will be entrusted to the board of directors of Pinduoduo to make decisions by voting. At the same time, I personally promise that the shares in my name will continue to be locked and not sold within the next 3 years.

I stepped down as CEO on July 1st last year, and originally planned to complete the handover of the chairmanship with Chen Lei in one full year. Two reasons made us decide to further advance the handover in this plan.

First, the increasingly fierce competition and even alienation in the industry made me realize that this traditional scale and efficiency-oriented competition has its inevitable problems. To change, we must take action on lower-level and fundamental issues, and seek answers based on core technology and its basic theories. Although Pinduoduo itself is still very young, there are still thick and long snow slopes, and there is still room for high-speed growth for a long time, but if you want to ensure its high-speed and high-quality development in 10 years, then some explorations are now legitimate It’s time. As the founder, I jumped out and touched the rocks on the road 10 years later. I might be a more suitable candidate. It would be great if I could combine my own interests.

Second, the drastic changes in the external environment caused by the epidemic and other reasons have also accelerated the iteration of Pinduoduo’s internal business and management. Pinduoduo started from a purely asset-light third-party platform, and began to invest in warehousing, logistics and agricultural sources. New businesses began to sprout and grow rapidly in Pinduoduo. This has not only changed Pinduoduo, but also spawned and exercised a new generation of leaders and managers. It is also time to gradually let more waves rise up and shape their own Pinduoduo.

So, what will Pinduoduo look like? I may not be able to decide, but I can happily share my own imagination with you.

First of all, Pinduoduo will be a social enterprise that always puts consumer interests and social values ​​first. The new e-commerce concept of “inclusive, people-oriented, and more open” we practice will be more clearly known to the industry and the public in the coming days. It faces the broadest group of people, makes improvements bit by bit, and strives to create value for consumers and society, regardless of whether it is significant or not easy to see. Because of this, it will become more and more popular with the public. The various barriers it faces will gradually be broken, even if it sometimes takes a little time, and there may even be twists and turns. But “inclusive, human first, more open” should be a direction, and it will bloom with different vitality in this new era.

Secondly, Pinduoduo will be a company that is rich in imagination and constantly iterates and innovates. Costco+Disney’s vision will be more visually and vividly displayed in front of us. Although it is only the initial stage of how affordable and fun it is, we have been able to feel the subtle difference in nature brought about by the superimposition of the multi-benefit and the fun, and feel the 1+1>2 of the chemical reaction behind it. Great power. The practice of the past few years has made us even more convinced that this vision is rich, interesting, worth looking forward to, and pursuing.

Third, Pinduoduo will strive to become a mature and international public institution. There was a paragraph in the shareholder letter when it went public in 2018: “We hope that Pinduoduo is a public institution that creates value for the vast majority of users. It should not be a tool to demonstrate personal ability, nor should it have too many Personality. At the same time, it should serve as an independent public institution, showing its unique social value, organizational structure and culture as an institution, and follow its own unique destiny to continue to evolve and evolve.” Duoduo is still like a kid who just went to elementary school, and now although only three years have passed, Pinduoduo is already a teenager entering puberty. Watching his rapid changes and growth, I am both happy and anxious. But whether it is nervous, excited, or panic, it will always have its own path of growth. I hope that today’s retiring from the chairman will help this young independent adult.

What should I do after I leave? I want to do some research in the fields of food science and life science. Pinduoduo started as an agricultural product. In the past few years, Pinduoduo’s contribution to the agricultural sector has mainly been in the field of circulation. By improving the efficiency of the circulation field, farmers and consumers can benefit by eliminating the middle to make up the two ends. However, the improvement of circulation efficiency cannot qualitatively increase the added value of agricultural products, nor can it substantially increase the level of health in nature. Then go deeper step by step, what can we do?

For example, by controlling the methods of the agricultural product planting process, is it possible for us to reliably and effectively control the content of potentially harmful heavy metals in potatoes, sweet potatoes, tomatoes, etc., and at the same time control the possible and beneficial trace elements in them? , Can be standardized promotion? If there is a kind of tomato in the future, each one contains VC and other trace elements that are most suitable for our body, will our quality of life be significantly improved?

For another example, if we can more thoroughly understand the changes and effects of different plant proteins and animal proteins after ingested in the human body, and then synthesize and produce meat substitutes through plant proteins, then does this new vegetarian chicken 2.0 have it? May become a healthier and greener stable supply?

If we go further and delve into the study of protein structure and properties in the human body, is it possible for us to follow the path of the molecular machine of the 2016 Nobel Prize winner in chemistry and further develop protein robots that can enter the human brain? To dredge the blood vessels to avoid stroke?

When we were young, the teacher asked us what we wanted to do when we grew up. Like many people, I said that I wanted to be scientists. It’s been a long time now, and it may be impossible to become a true scientist, but if I work hard, I combine my favorite chemistry in middle school, the computer I learned in college, and the management and management of work and study. I really thought that maybe I could do something interesting again. You can’t become a scientist, but you may have the opportunity to become an assistant to the future (great) scientist. That is also a very happy thing.

zhiwo

By zhiwo

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helpmekim
8 months ago

Today, the heads of China’s three major e-commerce companies are gone. First, Da Dongzi was in the black of Minnesota for 2 minutes, and then quietly exited; then Daochang Ma impassionedly pointed the country, and was silent from then on; now Huang Zheng has come to his senses, put aside the stubbornness in front of him, and ran to science and the distance. But don’t get excited, Pinduoduo is still surnamed Huang, they just dumped the annoying things. This retirement procedure began on July 1st last year, when Huang Zheng resigned as CEO and at the same time transferred 370,772,220 common shares (approximately 7.74% of the company’s total shares) under his personal name to the Pinduoduo partner collective.
This partnership system is the moat of power of Pinduoduo. Look at the rights of Pinduoduo partners: Pinduoduo partners directly decide who is the executive director. Pinduoduo partners nominate and recommend the CEO, who is appointed by the board of directors. Nominate new partner candidates. Vote for new or withdrawn partners. To modify the partner system, 75% of the partners must agree. According to this structure and terms, even if Huang Zheng resigned the chairman and CEO, and at the same time gave up one vote for ten votes, as long as he still controls Pinduoduo’s partner committee, this Pinduoduo is still Huang Zheng. Have the final say. Just like a kite in the sky, it looks free and comfortable, and finally the people below take up the string unhurriedly, and the kite still has to come back. In the past year, Pinduoduo has been going through the Mercury retrograde, with various negative news constantly. The female employee died suddenly and was caught directly by Zhihu Washing and pushed to the temporary foreman. Immediately after the internal engineer broke the news and was fired, everyone discussed what black technology Pinduoduo used to monitor. Two days ago, when he was caught selling pirated books, the customer service rigorously redefines what is fake. It makes people feel that the temporary worker who wrote the first public relations copy is still there. Of course, the writing of the financial report this time is very sensational, and it is on a higher level than the public relations copy of the past. As the founder, stepping out to touch the stones on the road 10 years later, may be a more suitable candidate, Pinduoduo will be a social enterprise that always puts the interests of consumers and social values ​​in the first place. Is it possible for us? Along the path of the molecular machine of the 2016 Nobel Prize in Chemistry, further research on protein robots can enter the human brain blood vessels to dredge and avoid stroke? Does this “stone on the road in 10 years” sound attractive? In 2001, Duan Yongping, who was only 40 years old and famous, chose to retire and moved to the United States for the “old care”. He turned and became a legend in the investment world. Today, Huang Zheng, as his good student, has also turned behind the scenes and began to focus on food science and life science. Will he become a legend in the scientific world in 10 years? At that time, President Duan taught Huang Zheng all his life’s unique knowledge, and he also specially handed him a kit with the words “duty” written in it. When Huang Zheng left today, did he also leave Chen Lei with a tip? If so, I guess there might be four words in it

heloword
8 months ago

Lessons from the past, the teacher of the future. Huang Zheng is a smart person. The experience of JD and Ali is in my eyes and in my heart. Because the actual controller’s behavior or speech affects the company’s public opinion and causes a chain reaction, this loss cannot be eaten anymore, and the predecessors have already paid a sufficient price. Of course, staying behind the scenes does not mean giving up control, but nominally, it no longer represents Pinduoduo and risk isolation. However, what Pinduoduo currently has to worry about is not who the actual controller is. The Internet has memories. The sudden death of employees, suicide and face-slapped public relations are still vivid. What Pinduoduo should be worried about is the deteriorating health and mentality of employees under the crazy overtime mechanism; and the rapid development of small workshop-style corporate governance that cannot keep up with the rhythm. Perhaps, there is no need to worry about Pinduoduo, because the Internet is also forgetful and new hot spots are unfolding at all times. How many people are still waiting for the labor inspection department stationed in Pinduoduo to give an investigation conclusion?

helpyme
8 months ago

I just saw this explanation from a blogger: Pinduoduo’s model can’t go far. Many people say that Pinduoduo has a market because there are 600 million people in China with a monthly income of 1,000 yuan. This is nonsense. This is not the reason why Pinduoduo can survive. Pinduoduo can survive because it happens to take over the merchants who fled from the Ali department. Pinduoduo’s high tolerance for counterfeiting allows these merchants to make money, thus supporting Pinduoduo. Taobao was able to do it that year because it happened to take over merchants who had fled from chain supermarkets and department stores, because the squeeze of supermarkets and department stores made these merchants unable to survive, and the emergence of Taobao coincided with this wave of market transfer opportunities. This is true of Pinduoduo, including live streaming products. Why are there so many fake and shoddy products in live streaming? Because only in this way can you make money, and because you can still make money, you can also support the live broadcast and the delivery of goods. Therefore, with market regulation and stricter management, Pinduoduo and live streaming will face transformation or close down. -Boyou: Lu Xiaozhou feels that what he wrote is quite reasonable, so I will copy it for everyone to see. Then we will analyze several factors of the founders’ resignation (macro summary) 1. The founder feels that the company has reached a certain bottleneck period. If no one leads the group to go out, then there is only one possibility for the Internet company: myth Shattered. 2. Economic oppression, for Huang Zheng and others, has a strong sense of the company’s layout and market changes, and this year, the impact of the two consecutive epidemics last year and the turmoil of the stock market! 3. From a check-up, I saw that Huang Zheng had resigned the company as a legal person very early, that is, since then, Huang Zheng has already begun to pave the way for the future! !

sina156
8 months ago

Now Internet giants, sometimes they are very cunning. You see, Alibaba shouldn’t have been in charge by Jack Ma in theory long ago, right, but who doesn’t know that the retired “rural teacher” is the subject? On JD.com, Minnesota God of War also said that he resigned last year, but who would dare to say JD.com is not a strong son? Not to mention Tencent, even if pony is so low-key, the rumors you receive in the QQ group about sending q coins will always be related to Ma Huateng’s birthday… What are the characteristics of these Internet giants? A: The position of the founder cannot be shaken. To put it bluntly, you may not have the position of today’s company if you sit in that position. The same is true for Pinduoduo. Huang Zheng’s name is tied to the company. It’s not that you said you gave up your voting rights, you retire, and you will really be kicked away by the company. That’s what Apple dared to do in the past, but didn’t it end up crying for help to save the world? Therefore, perhaps in the future, Huang Zheng may be less in charge of daily affairs and personnel appointments. But it really involves the general direction of the company, he does not speak-which bug dare to speak? Not everyone can be willing to be Thanos.

yahoo898
8 months ago

Huang Zheng stated in the shareholder letter that after resigning, he will focus on the fields of food science and life sciences, and explore new space for high-speed, high-quality and in-depth development for Pinduoduo ten years later. In the letter to shareholders, Huang Zheng gave an example and looked forward to the scientific research field he will devote to long-term after resigning as chairman. For example, through the method of controlling the cultivation process of agricultural products, exploring the reliable and effective control of the content of potentially harmful heavy metals such as potatoes, sweet potatoes, tomatoes, etc., and at the same time, the controllable standardization of its possible and beneficial trace elements. “I can’t become a scientist, but I may have the opportunity to become an assistant to the future (great) scientist. That is also a very happy thing.” Huang Zheng said that in-depth research in these basic science and technology fields will help to break through the innovation of the circulation mode of “breaking down the two ends of the middle supplement” and qualitatively improve the added value of agricultural products and the level of health. Known: 1. Pinduoduo started from agricultural products and has not been separated from the field of agricultural products. Recently, it has vigorously engaged in the business of shopping for food. 2. There is a lot of room for improvement in China’s agricultural products whether it is variety, brand or processing. The added value of agricultural products is still very low, and the income of farmers is also very low. 3. Chinese people have been worried about food safety for a long time, and we can say that we are paying unprecedented attention to health-the impact of the epidemic and the improvement of living standards. Food safety and food nutrition have higher requirements. The Healthy China Plan just released by the state, etc. 4. After Internet companies become bigger, it is easy to cause problems with the founders. The lessons learned from Jingdong Taobao’s previous lessons are summarized, I think Mr. Huang’s choice is very Wise, I express optimism and support. People’s Daily Online once criticized the vegetable selling business and believed that Internet giants should have higher pursuits. Now Mr. Huang says that he is going to engage in scientific research, develop agriculture and healthy food. If he can do what he says and make a difference, he will benefit the country. Good things to benefit the people. To be honest, I am very envious. I also want to make money to farm, raise pigs, improve breeds, do food research and development, and study the nutrients of agricultural products. . . Anyway, I am looking forward to it

leexin
8 months ago

Today, together with the announcement of the resignation of the chairman, there is also the 2020 fourth quarter results of Pinduoduoyan and Qunfang. In the fourth quarter, revenue was 26.547 billion yuan, an increase of 146% over the same period of the previous year; the revenue for the whole year was 59.919 billion yuan, an increase of 97% over the same period of the previous year. The most shocking thing is: Alibaba’s number of active buyers in Q4 2020 is 779 million, and JD is 471.9 million. Pinduoduo has surpassed Alibaba and JD to become China’s largest e-commerce platform! ! ! I, who have never used Pinduoduo, unknowingly become a minority abandoned by the times. I have never understood the business logic of Pinduoduo to sink the market and introduce gamification experience. Before the emergence of the Internet, Taobao, and JD.com, the gross profit margin of doing trade was already very low, and it relied on running volume to make profits, such as Wal-Mart. The emergence of online shopping has wiped out the already insignificant profits even more. Just how crowded this track is, just look at how much money Jingdong spent in the early stage and how many years it took to make a profit. Before joining Pinduoduo, Huang Zheng worked as a game company and an e-commerce agency operating company. In addition to its advanced marketing strategy, Pinduoduo has added a gamified experience to shopping, and has interface for some types of games: limited time seckill, Duoduo Orchard, 9 yuan 9 sale, cash check-in, make a lot of money, bargain for free, Toto Love to eliminate, get cash every day… I really don’t see what profit it can rely on, and I don’t understand where the differentiated competitiveness from Taobao Jingdong is? After all, marketing is very expensive. The marketing expense ratio of Q4 in 2020 is too high 54%, and the gaming experience is not just a matter of shopping. The sinking market is to be cheaper, cheaper, and cheaper. In an era of such low gross margins, in addition to cutting corners and shoddy, I didn’t figure out how to do it without the cheapest, only cheaper. Later I learned that I was doing my best to squeeze the labor force. When I saw this news, my first reaction was that the original gameplay could no longer be played, because Pinduoduo is still unprofitable, even if it has more active buyers than Taobao, and it even dumped JD.com, but Q4 2020 With a loss of 184.5 million yuan in a single quarter, it is not considered a company on the right track. As long as the sales expenses are reduced, the probability of revenue will drop even more. The facts have also confirmed that Huang Zheng mentioned in the first reason for his resignation: It is the increasingly fierce competition and even alienation in the industry that made me realize that this traditional scale and efficiency-oriented competition has its inevitable problems. of. He has realized that it is unsustainable to squeeze costs through all aspects, even if the scale is growing at a high speed. What is the impact of his resignation? There won’t be any in the short term. A company has its founder genes from beginning to end, regardless of whether the founder is in position or not, as long as the founder’s equity is still there. As for the long-term, it depends on whether he can find and run through a less crowded track.

greatword
8 months ago

The new crown epidemic hit, Pinduoduo suffered logistics and supply chain impacts, and its shortcomings were highlighted, but the annual report released in April 2020 is still remarkable: the turnover in 2019 exceeded the trillion mark, reaching 106.6 billion yuan, and the annual active purchase With 585.2 million companies, it has become China’s second largest e-commerce platform. Huang Zheng shared his thoughts on the situation at the time through the relationship between the epidemic and the world and mankind. He pointed out that certain dimensions of the past world are being reconstructed, and some rules are being rewritten. This force sweeping the world will fundamentally and permanently change the world we live in. Four simple letters contain Huang Zheng’s management philosophy. In thinking about the future of Pinduoduo, what persistence does he have? What are the adjustments? Now that the number of active users on the Pinduoduo platform has reached a “milestone”, Huang Zheng resigned as chairman and CEO of the handover, and left with his clothes. Where will Pinduoduo go? What does the shareholder letter always emphasize? 1. Consumer and user benefits When listed in 2018, it was emphasized that the basis of Pinduoduo’s survival was to create value for users; in 2019, Huang Zheng emphasized that Pinduoduo should adhere to the consumer orientation, creatively solve existing problems, and make incremental contributions to society; In 2021, he still mentioned that the interests of consumers and social values ​​should always be put first. 2. When “Costco” and “Disney” went public in 2018, Huang Zheng stated in the shareholder letter that Pinduoduo’s vision is to be a combination of “Costco” and “Disney”, integrating cost-effective products and entertainment. Today, he still adheres to this vision, and believes that this vision will be presented more vividly and vividly; although it is still at the preliminary stage of how affordable and fun it is. 3. Inclusiveness, People First, and Openness In 2019, Huang Zheng spent a lot of time talking about Pinduoduo’s “Inclusiveness, People First, and Openness” concept, thinking that this is the fulcrum for Pinduoduo to break the old forces and win users and customers. In the letter to shareholders issued in 2021, he is still emphasizing the concept of “inclusiveness, people first, and openness”, and believes that “inclusiveness, people first, and more openness” should be a direction, which will blossom in this new era. Vitality. 4. Huge room for growth In 2018, Huang Zheng stated in his letter to shareholders that Pinduoduo still has a lot of room for growth. By 2021, Pinduoduo has grown into China’s largest e-commerce platform for users, but he still believes that Pinduoduo still has a thick and long snow slope, and there is still room for long-term rapid growth. 5. Pinduoduo is still young, there are problems and challenges. In 2018, Huang Zheng admitted in a letter that Pinduoduo is only 3 years old, still young, and there are many obvious problems and many dangers and challenges. In 2021, Pinduoduo already looks like a teenager entering adolescence. Seeing its rapid changes and growth, he is “happy and anxious.” 6. Investing in the future In 2018, Huang Zheng mentioned that Pinduoduo will be a company that has the courage to invest in the future and is based on the long-term. In 2019, he emphasized in his letter that Pinduoduo should focus on the long-term endogenous value of the enterprise, be based on the long-term, and be brave to invest in the future. In 2021, Huang Zheng said that he is still looking for the real driving force for Pinduoduo’s next growth, hoping to ensure its high-speed and high-quality development 10 years from now. 7. Be a mature public institution and go personally. When going public in 2018, Huang Zheng mentioned in his letter to shareholders that he hoped that Pinduoduo would be a public institution; it should not be a tool to demonstrate personal abilities, nor should it have Multiple people color. In 2019, Huang Zheng stated that the next step is to evolve the organization and move towards a more inclusive, transparent, and international mature public institution step by step. When he stepped down as chairman in 2021, he still mentioned that Pinduoduo will strive to become a mature and international public institution. Changes in shareholder letters 1. Regarding industry competition and the replacement of old and new forces in 2018, as an e-commerce newcomer, Huang Zheng pointed out in the shareholder letter with confidence and straightforwardness, “Pinduoduo is not a traditional company. It is in everyone’s opinion that e-commerce The pattern has been set, and the history book was born when the history book has been written. It took just three years to gather more than 300 million users and more than one million sellers to jointly establish a new shopping model.” In 2019, Huang Zheng even stated in the shareholder letter I spent a lot of pen and ink discussing what Pinduoduo is doing in the new e-commerce era, and the relationship between Pinduoduo and its predecessors in traditional e-commerce. He believes that Pinduoduo is both a posterior, an imperfect and weak party in all aspects; it is also a new force, full of vitality and hope, and represents an advanced direction. By 2020, under the epidemic situation, the logistics and supply chains of new and old e-commerce companies will be blocked due to the epidemic. Therefore, in his letter, he no longer talks about new and old e-commerce and competition, but laments the cruel nature of natural disasters. He believes that certain dimensions of the past world are being reconstructed and some rules are being rewritten. This global force will fundamentally and permanently change the world in which we live. In the 2021 letter, Huang Zheng began to publicly reflect on the problems caused by industry competition. He believes that “the increasingly fierce and even alienation of industry competition has made me realize that this traditional scale and efficiency-oriented competition has its unavoidable problems.” 2. Discussion on corporate values ​​listed in Pinduoduo in 2018 At that time, the mysterious Huang Zheng publicly announced his entrepreneurial and management philosophy to the world for the first time. He used the word “duty” to define the core value of Pinduoduo. The term includes integrity, isolation from external forces, returning to the original intention, not taking advantage of others, and being accountable to oneself first when problems arise, and so on. This is also one of the highlights of this shareholder letter, which is like a clear stream, which is impressive. In the following letters, he did not mention Pinduoduo’s values. Since its listing, with the exposure of some problems, the outside world has always used the scale of “duty” to measure and even torture Pinduoduo. 3. Pinduoduo’s core development logic: From scale, efficiency to core technology 2018-2020, Pinduoduo, as a rising star of e-commerce, has been running wildly on the road of pursuing user scale and GMV scale. Today, it has reached a new peak, surpassing Alibaba, the originator of Chinese e-commerce, and becoming the largest e-commerce user in China. However, Huang Zheng walked away at this time, resigning as chairman, and must concentrate on researching food and life sciences. He believes that the traditional scale and efficiency-oriented competition in the past has its unavoidable problems; to change, it is necessary to take action on lower and fundamental issues, based on core technology and its basic theories. Looking for answers; and to ensure Pinduoduo’s high-speed and high-quality development 10 years later, some explorations are now at the right time.

loveyou
8 months ago

After the rapid retreat, Huang Zheng finally became his master Duan Yongping plus version. So far, the decline in Pinduoduo’s share price has expanded to more than 10%. Everyone’s questions may be the same as the subject, where to fight for more? Huang Zheng actually sees the question of Pinduoduo very clearly, and the answer lies in this letter: First, the increasingly fierce competition and even alienation in the industry have made me realize that this traditional scale and efficiency-oriented competition has its advantages. The inevitable problem. As stated in the letter, Costco+Disney’s vision will not change. Since its inception, Pinduoduo has the same low-price strategy as Costco and similar middle-class and below consumer groups. Costco is a supermarket on the surface, but in fact it is an intermediate platform at heart, because Costco’s low price is a strategy of reducing costs by squeezing the supply chain. Costco can implement ultra-low profit or even non-profitable strategies on products, and Costco’s largest source of profit so far Still membership fee income. You may also think of another company with this kind of strategy in China, that is Xiaomi. Lei Jun himself admires Costco very much. At present, you will find that this strategy will bring a very high loyalty to Xiaomi users, and the competitors are in this way. Under the strategy, you will be overwhelmed. This strategy is a positive cycle. When you get bigger and bigger under this strategy, your competitiveness will become stronger, and your bargaining power will be stronger for downstream, and supply chain control will also be stronger. It is stronger, and users will vote with their feet when they get the benefits. Therefore, if Pinduoduo wants to do Costco now, it still needs to do its own branding, quality control, and control its own supply chain, so that Pinduoduo’s products can become like Costco and become what Lei Jun said, “If you enter Costco, you don’t need to pick or watch The price, just close your eyes and buy, this is a kind of belief.” This will also make Pinduoduo, as mentioned in Huang Zheng’s letter, from a pure asset-light third-party platform to become more important, in warehousing, logistics and The source of agricultural goods has begun a new round of investment, and new businesses have begun to sprout and grow rapidly in Pinduoduo. Pinduoduo’s Costco+Disney strategic goal has been mentioned many times. This big goal will not change whether Huang Zheng is present or not, and now Duoduo Shopping is like another Costcoization in agriculture. It should also be noted that under the route of encircling cities from rural areas, Pinduoduo users have taken the lead but the unit price per customer is still very low. Today, apart from the news of Huang Zheng’s abdication, there is another news that made Alibaba’s stock soar. That is, Taobao’s special edition will start to launch WeChat mini programs and support WeChat payment. This is to go to Pinduoduo’s home to grab turf. We all know that Pinduoduo has gained the market by relying on WeChat’s sinking users. Now Ali’s eagerness has already been outstripped, and he put down his figure and started to grab users on WeChat. After the competition has become fierce, the problem Huang Zheng said is getting bigger and bigger. It is also a good choice for Pinduoduo to get the card slot in advance.

strongman
8 months ago

Does the plot resemble Jack Ma’s resignation as chairman of Ali’s chairman, Liu Qiangdong’s resignation as legal person, and Ma Huateng’s resignation as chairman of JD.com, and Ma Huateng successively resign as legal persons in financial sector companies. Keep a big fan and keep a low profile is the way to survive, and companies must gradually deprive themselves of individualism. Otherwise, it may cause some confusion. If there are people like Ma Yilong who tweeted indiscriminately, it will weaken the credibility of the government and the media.

stockin
8 months ago

This incident reminded me that Zhu Yuanzhang had no other people, built walls high, accumulated food, and slowly claimed that the market was really a chaotic world in those years when financial capital and the Internet had just reconciled. There was a bloody storm with a family and a backer. Those who seize the opportunity, those who spot the loopholes, those who are conscientious, those who grow savagely, those who seek survival through the cracks, those who traitorously seek prosperity, those who make the country difficult to make money, or those who have both, the Internet industry has experienced In the beginning, the weak and the strong, slowly appeared a few hills. It was like Chen Youliang, Zhang Shicheng, and Han Shanfu. They have grown the rich and strong, and they have different routes for future development. Some have been recruited and have ambitions. Vigorous, there are those who stand still and maintain the status quo. Like the low-key, wretched and developed Zhu Chongba, Boss Huang pulls out a team from the original master, trying not to attract attention and accumulate strength. But there is a problem with wretched development. It’s not that you can be wretched if you want to be wretched. If you are dealing with someone like Xiang Yu Lu Bu, who is brave, or someone with ambitions like Yuan Shao, or someone like Cao Cao who can be fooled by a wife, you can be wretched. Yes, if it was Liu Bei, Liu Bang, Liu Xiu, it would be useless. Fortunately, Boss Huang did not run into such an opponent. The development path of Pinduoduo is to dig corners + grass on the wall + look for shade. It is extremely trivial. Although it is disdainful to everyone, but the positioning is accurate, that is, low to the end. Low to everyone does not treat him as an opponent, low to everyone The bottom line for him was judged to be equal to no at the beginning, so the tolerance was extremely high. No matter how much he did, no one would be surprised. Just like a beggar eating a meal, everyone would look disgusting, but it made sense. Even if he goes to eat Ah Duwu with the evil, everyone is just “he looks like a dog.” While he cultivates social tolerance, he is also very good at going to the big door to sing happy songs, thanks to him The experience in the early years, this is the mode of riding on the wall, and there is no need to worry about it. What’s more, I found myself a few windshield walls, letting the early birds go high-profile to attract firepower, and he has the same bad things as the early birds. Do, but he is low, he is inconspicuous, so the sticks are all rushing to the birds, and the birds are particularly resistant. You can borrow an old saying that there are too many birds and the sticks are not enough. Boss Huang started by digging out the wall, and took this three-way knowledge to the extreme. He kept digging to make the best use of the corners he digs. At the same time, he continued to dig the fresh ones. When the fresh ones were digged, he would kick away the squeezed leftovers, even Go back to the troubled old club again. Everyone said, if you do not speak martial arts like this, you use your toes to kick the crotch of the sand and blow the lime. My teacher has no door, nor did I put a gold-letter sign on my forehead, “Serve people with morality,” “being upright,” “conscience of the industry,” and “moral model”. Instead, I stabbed a bright “rogue” with an awl in my forehead. This is low. The benefits of posture. If you say yours, I will do mine, and if you refuse to accept it, you will have to follow your example! I’m my second-rate son, and you’re your Yue Buqun, hey, don’t talk about anyone. Slowly, the opponent found that this guy had broken the atmosphere, and 996 was hit a lot of sap over there. He died a batch of people without making a sound, and he was kicked because of customer experience. He has a lot of fakes. , Because of the squeeze of the rider business, he burned his eyebrows, and he just buckled the money from the business on his side… He spread it with both hands. We are not the industry leader. We are not the king of the outside world. Our wall is taller and we have more food. You are now Want to move us, but may not be able to do so. Guo Degang has a joke. If you soak in the pit for a while, no one will hit you when you come out. You will get shit when hitting it. However, the limelight seems not quite right in the past two years. The main reason is that there are more sticks. When you hit the first bird, you still have a few more surpluses. If you don’t pay attention, you get a few hits on your head. And if this situation continues to develop, the sticks will get worse. More and more, getting bigger and bigger. Before a few strokes, it didn’t hurt your muscles or bones. Later, the weight of the stick is enough. Maybe you will have a coma for a few days. During this period, I don’t know how many mouthfuls I have to drink. . Therefore, with his consistent low-key, not called king, and hiding behind the bird of the early bird, hurry up and stay away from the place of right and wrong, and put a shield on the bright side, which is the heart of Sima Zhao, which is known to passers-by.

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