novelnext Chapter 151 Bragging to Teacher Ma
Chapter 151 Bragging to Teacher Ma
Chapter 151 Bragging to Teacher Ma
July 23, 2009, Shanghai.
The sweltering heat of the rainy season is like a stubborn and inconsiderate guest, lingering in every corner of the city and refusing to leave.
The air was damp, like a sponge soaked with water, and every breath had a sticky texture.
2:25 PM, North Building of Peace Hotel.
Guided by a waitress dressed in a cheongsam and with an upright posture, Jiang Yu walked through a corridor lined with black and white photographs of old Shanghai on both sides of the wall and headed toward the reserved private room.
Wang Wei followed half a step behind, holding a lightweight folder in her hand.
At the end of the corridor, a heavy oak door, carved with simple geometric patterns, stands quietly.
Pushing open the door, a cool breeze carrying the aroma of top-quality cigars wafts out.
The private room is spacious and decorated in the classic Art Deco style, with simple and powerful lines and striking color contrasts.
Outside the huge floor-to-ceiling windows, the turbid and powerful Huangpu River flows slowly, while the skyscrapers of Lujiazui on the opposite bank, like a meticulously arranged model, outline a sharp skyline against the leaden gray sky. The old and the new look at each other, and time and space intertwine.
Two people were talking in hushed tones around a mahogany round table.
One of them is Shen Lanpeng, founder and managing partner of Sequoia Capital China.
He wore a perfectly pressed light blue shirt with the top button casually undone, the sleeves rolled up to his forearms, revealing his shapely wrists and a discreet Patek Philippe watch.
He was leaning slightly forward, intently looking at the data on the tablet in his hand, his brows slightly furrowed.
Hearing the door open, he looked up and, upon seeing Jiang Yu, a gentle smile immediately appeared on his face, and a glint flashed in his eyes behind his glasses.
"President Jiang, you've finally arrived." Shen Lanpeng's voice was not loud, and his pace was even, carrying a clarity and calmness that came from extensive logical training. "Shanghai's traffic is indeed a mysterious problem."
At the beginning of the year, Jiang Yu's personal investment platform, "Chasing Light Holdings," officially became one of the limited partners of Sequoia China's second RMB fund with an investment of US$6000 million, thus establishing a deeper bond between the two parties at the capital level.
During his brief stay in Shanghai, Jiang Yu not only held a strategic meeting with Shanghai Film Group, but also met with Shen Lanpeng, the "godfather of venture capital in China's future," to discuss potential strategic collaborations and project cooperation.
"Mr. Shen, I'm so sorry to have kept you waiting." Jiang Yu replied with a smile, handing his bag to a waiter who quietly approached from behind. "There was a minor accident on the elevated highway, which caused a traffic jam for almost half an hour. With this weather, the drivers are all very irritable."
His tone was natural, carrying just the right amount of apology and familiarity.
Wang Wei smiled and nodded to Shen Lanpeng, then quietly stood to one side, where a small side table and chair had already been prepared.
Sitting opposite Shen Lanpeng, with his back to the dazzling river view, leisurely sipping tea, was none other than Jack Ma, the founder of Alibaba Group.
He looked thinner than he did in public speeches and media reports, wearing a dark gray polo shirt, and his infectious and distinctive smile seemed especially vivid amidst the aroma of steaming tea.
Seeing Jiang Yu come in, he put down the cup, stood up briskly from the sofa by the window, and greeted him with a smile, extending both hands.
"President Jiang! Haha, seeing is believing, I've finally been waiting for you in person today!"
Jack Ma's voice was loud and clear, his handshake firm and warm, lasting slightly longer than usual in business settings, conveying sincerity and a desire to build rapport. "I heard you were in Shanghai yesterday celebrating with the people," he said, "going to a concert at the 10,000-seat stadium? That's quite a hobby for someone so young!"
As Jiang Yu shook hands with the future "Teacher Ma," the current e-commerce tycoon, he pulled out the chair next to Shen Lanpeng and sat down, a slightly helpless yet amusing smile on his face.
"Teacher Ma's Taobao? I've been a long-time user since college, dear!" That phrase is practically second nature to me; I've truly heard so much about you. As for the concert, it's a chance to relax after work. I never imagined the scope of entertainment reporters' work would expand so rapidly; even someone like me, with one foot in the industry, can't escape it."
He spoke of it casually, but his experience last night has probably already gone viral on the internet and in the entertainment sections of traditional media.
Just last night, after finishing another dinner with Ren Zhonglun, Jiang Yu felt a rare need to relax.
I happened to hear that Eason Chan's "MovingOn" tour was having its final show in Shanghai, so I casually mentioned it during dinner.
Unexpectedly, Wang Wei demonstrated exceptional execution skills, immediately securing front-row tickets through various channels.
So, wearing a baseball cap and a mask, Jiang Yu, accompanied by Wang Ming driving, Wang Wei, and a bodyguard, blended into the stadium with its 10,000 spectators, just like an ordinary fan.
I thought I could safely "hide" in the noise and dim lighting of tens of thousands of people and fully enjoy the music.
Unexpectedly, during the interactive segment midway through the performance, "E God," with his sharp, searchlight-like eyes, spotted a young man with outstanding charisma—who, despite wearing a simple T-shirt and jeans, a hat, and a mask, was accompanied by someone who was clearly not an ordinary audience member—while surveying the venue.
Amidst the deafening screams of fans and the spotlights of countless cameras, Eason Chan, with a mischievous grin, pointed directly at Jiang Yu and shouted in Cantonese, "Hey! You handsome gentleman in the black hat! I recognize you!"
"Would you like to come up and sing me a song?"
The audience erupted in uproar, and the lighting technician very "sensibly" shone a spotlight firmly on the unsuspecting Jiang Yu.
Under the watchful eyes of tens of thousands of people and amidst deafening shouts of "Go up! Go up!", Jiang Yu had no choice but to bite the bullet, remove his mask, and walk onto the stage, under the tense gaze of his bodyguards and Wang Wei's suppressed laughter.
Eason Chan enthusiastically put his arm around his shoulder and said into the microphone, "Wow! It really is Mr. Jiang! You might not know, but this is the boss of Light Chaser Pictures, the hottest Chinese boss in Hollywood right now! Cameron's upcoming 'Avatar' was invested and produced by his company! Mr. Jiang, would you do me the honor of singing a duet?"
Unable to refuse, Jiang Yu took another microphone and, with a voice that could only be described as "not off-key but certainly not outstanding," sang the chorus with the overly excited Eason Chan. During the song, Eason even led him in a few simple interactive actions, which caused the entire audience to erupt in cheers and the atmosphere reached its peak.
As a result, this morning, from portal websites to entertainment newspapers, from social media to financial news sections, headlines and prominent positions were almost entirely occupied by this news.
"A mysterious tycoon makes a surprise appearance at Eason Chan's concert; it turns out to be Hollywood upstart Jiang Yu!"
"Chasing Light Boss Jiang Yu quietly pursues his idol, sharing the stage with Eason Chan to sing 'King of Karaoke'!"
"Entertainment giants are going crazy too? Jiang Yu's appearance at his Shanghai concert sparks discussion, suspected to be a pre-release promotion for 'Avatar'?"
The accompanying photos are varied, including a slightly surprised moment when he was shone by a spotlight, a picture of him with his arm around Eason Chan on stage with a helpless smile, and even a profile of him listening to a song attentively under a high-definition lens.
The comments section was buzzing with activity, with some praising him for being "down-to-earth" and "genuine," others gossiping about his relationship with Eason Chan, some analyzing whether this was a new promotional strategy for Chasing Light, and of course, there were also plenty of envious and jealous comments.
Upon hearing this, Shen Lanpeng adjusted his glasses, chuckled, and pushed a freshly poured teacup toward Jiang Yu.
"Try it, Lapsang Souchong, old-growth tea from Tongmu Pass, specially reserved for you. You're really sharing this joy with the people, it's truly earth-shattering. Now, not only in Shanghai, but probably most netizens in China know that you, President Jiang, are not only good at making money and investing, but also get drafted by Eason Chan at your concerts."
His tone carried a familiar teasing tone and a hint of barely perceptible schadenfreude.
Jiang Yu picked up the warm white porcelain cup, first smelled the unique aroma of pine smoke and dried longan, then took a sip, the mellow and sweet taste melting on his tongue.
"President Shen, please stop teasing me. It was purely accidental, an unplanned event. It seems that in the future, the difficulty of secretly doing some private business will be skyrocketed."
He said with a self-deprecating smile, but he was quite frank about it.
This kind of news, which is slightly gossipy and entertaining, does not damage his personal image, which has always been focused on business and technology elites. On the contrary, it unexpectedly adds a touch of human touch and authenticity, and even adds a little to the approachability of Light Chaser Pictures to the public.
After all, a boss who goes to concerts and gets invited on stage by his idol to sing along is more appealing than a mysterious tycoon who only appears in financial headlines and signing ceremonies.
Jack Ma sat down again, leaning slightly forward, looking at Jiang Yu with great interest, his eyes full of a businessman's shrewdness.
"This shows that Mr. Jiang has a lot of influence! You are now a focus of attention across the technology, capital, and entertainment industries, and every move you make is news. However, I think this is good. Young people should have some energy and personal hobbies. When I'm under a lot of pressure, I like to find a quiet place to practice Tai Chi, or close the door and belt out a few lines of Peking Opera, although my singing may be more impressive than yours last night, Mr. Jiang."
He didn't hold back when it came to self-deprecation, his exaggerated tone making Shen Lanpeng and Jiang Yu laugh, instantly melting away the subtle distance that had been building between them at their first meeting.
"Teacher Ma, you're too modest. I've personally witnessed your eloquence; it's so captivating. You must be able to sing Peking Opera with perfect diction as well," Jiang Yu said with a smile, offering a compliment.
The waiter entered silently, refilled the tea for the three of them, and brought out several plates of exquisite tea snacks.
Osmanthus rice cake, crab shell pastry, and mung bean cake are small and exquisite, and arranged with great aesthetic appeal.
Amidst the fragrant aroma of tea and the faint, low whistles of ships coming from the Huangpu River outside the window, the three began a conversation that appeared to be casual but was actually full of witty remarks.
The conversation initially revolved around the annoying plum rain season, the difference between the rich, dark sauces of Shanghainese cuisine and the light, elegant flavors of Hangzhou cuisine, as well as recent developments in macroeconomic policies. The atmosphere was relaxed and casual, like a small gathering of old friends.
Soon, the conversation naturally veered into the unspoken mutual affirmation that is common in meetings at this level; or, to use a more online term, mutual business compliments.
However, behind this mutual flattery lies a weighing of strengths, an exploration of resources, and an assessment of the possibility of future cooperation.
Shen Lanpeng gently stirred the tea leaves in the purple clay teapot with silver tea tongs, and calmly got to the point: "Speaking of which, Sequoia China has also made some attempts to expand into the cultural and entertainment consumption and internet sectors in recent years. For example, Bona Film Group, and Yu Dong's side."
We were in contact with them quite early, and their approach of combining Hong Kong film resources with the mainland market was competitive at certain times. Another example is Qunar in the online travel sector; we are optimistic about its model of using technology to improve the efficiency of comparing flight and hotel prices, which aligns with the major trend of the internet transforming traditional service industries.
He paused, looked up at Jiang Yu, his gaze behind his glasses candid. "However, in the end, this is still a typical financial investment model. We provide funding and some strategic advice, while the specific operations are left to the team. Compared to someone like you, Mr. Jiang, who not only invests heavily but also personally takes charge, building content production platforms like Light Chaser Pictures and technology companies like Light & Shadow Digital from scratch, and even constructing an industrial ecosystem spanning China and the United States, our approach might seem a bit like standing by and watching. At most, it's just small-scale stuff."
This was said very well, half sincere humility and half a clever test.
Sequoia Capital, as the undisputed flagship of China's venture capital field, has long been proven in its vision, track record, and brand influence.
However, compared to a multifaceted giant like Jiang Yu, who combines the roles of super investor, industry disruptor, and ecosystem builder, the role and influence of traditional venture capital do indeed appear relatively singular and indirect.
What Shen Lanpeng wanted to know was how Jiang Yu viewed this difference, and what kind of cooperation model Light Chaser Future preferred in terms of capital.
Jack Ma immediately took over the conversation, his passionate and idealistic tone easily setting the pace of the discussion. His body language was expressive, and his gestures were forceful: "Mr. Jiang, that's definitely it!"
He also gave a thumbs-up, his gesture more casual and confident, his eyes more penetrating. "Light Chaser Pictures, Light & Shadow Digital, this is truly planting our Chinese flag in the heart of Hollywood! I heard that Wall Street and Silicon Valley are conservatively valuing Light & Shadow Digital's North American branch at over 70 billion US dollars? And that doesn't even include your huge production base and distribution network in China, as well as the mysterious assets managed by Light Chaser Investment."
He leaned forward, lowered his voice, and said with curiosity and admiration, "What I find most incredible is that I heard someone say that the nearly 10 billion US dollars managed by Chasing Light Investment are almost entirely your personal funds, Mr. Jiang? You haven't raised a single penny from outside? This—well, how should I put it—this confidence and composure in making my own decisions about my money is truly admirable."
Jack Ma's words were full of sincere praise, but also concealed a hint of subtle inquiry.
He himself is in a critical period of strategic expansion.
Alibaba's B2B business has been listed in Hong Kong for nearly two years. Its market value has recovered with difficulty after the financial crisis and has just stabilized at the US$10 billion mark. However, there is still a long way to go to reach the vision of Alibaba's vast business empire that "makes it easy to do business anywhere in the world".
Taobao is experiencing explosive growth, and Alipay is beginning to demonstrate its potential as a payment tool, but all of this requires massive amounts of capital, top talent, and strong strategic allies.
Jiang Yu, who is only 27 years old, has already reached such an astonishing level in terms of the scale of assets, cash flow and industrial influence he controls, and his capital structure is so "clean" and independent, and his decision-making chain is so short. This is undoubtedly a success model that makes people extremely concerned and even a little envious.
Jack Ma himself has experienced the hardships of Alibaba's development, including multiple rounds of financing, continuous dilution of equity, and negotiations with numerous investors.
Jiang Yu understood, and even felt a subtle sense of emotion.
In his previous life, although he had achieved some success in business, he was still far from being a business leader of the caliber of Shen Lanpeng and Jack Ma.
In this lifetime, thanks to his accurate predictions of the trends of the times, his decisive positioning at key junctures, and his ability to combine past life experiences with resources in this life, the business empire he has built in just a few years has indeed surpassed Sequoia China, which is still building its brand and expanding its managed capital, and Alibaba, which is far from reaching its peak, in terms of company valuation, cash flow, and control over core industry segments at this particular historical moment.
Shen Lanpeng's Sequoia China is at a critical stage of localizing international experience and setting industry benchmarks.
Although Jack Ma's Alibaba empire has taken shape and Taobao and Alipay are gaining momentum, his nationwide influence and "alien" label have not yet been fully established, and his personal wealth is estimated to be in the billions of US dollars.
Jiang Yu's personal wealth is already a figure that is difficult for outsiders to accurately estimate, thanks to the scarcity value of Light Chaser Pictures' content, the disruptive potential of Light & Shadow Digital's technology, and the precise layout and leverage operation of the investment sector during the global stock market rebound after the financial crisis.
More importantly, through the holding company structure, he firmly maintains control over all core assets.
This subtle shift in positions made the atmosphere of the three-way talks more equal and open, and even subtly reflected the appreciation and almost imperceptible respect of the two accomplished seniors for this young man who had risen to prominence at an astonishing pace.
"Mr. Shen, Mr. Ma, you flatter me too much. I don't deserve it."
Jiang Yu waved his hand, his attitude humble but without the slightest hint of timidity. "Sequoia Capital is one of the founders and guides of China's entrepreneurial and innovative ecosystem. Mr. Shen's investment philosophy and strategic vision have always been a learning resource for us younger entrepreneurs. Alibaba's commercial infrastructure has truly changed the lifestyles and business logic of hundreds of millions of ordinary Chinese people. Mr. Ma's vision, courage, and execution are truly towering figures to be admired. Chasing Light was just lucky; we happened to catch some technological changes and shifts in market demand in the film and television industry, which I'm relatively familiar with, and we stubbornly persisted in cultivating the entire industry chain. As for funding..."
He smiled and said in a relaxed tone, "It might be due to my personality, but I'm not used to the pressure of procedures, disclosures, and expectations that come with external fundraising. I prefer to control the pace myself and have peace of mind. To put it bluntly, I'm a bit of a loner, so please excuse my behavior."
His words were impeccable, both affirming the high level of expertise of the corrupt officials and subtly highlighting the uniqueness and core advantages of his own style. At the same time, he also hinted at his emphasis on absolute control and flexible decision-making, thus preventing any talk of deep capital cooperation with the corrupt officials.
Shen Lanpeng nodded knowingly, no longer dwelling on the topic, and instead smiled as he sipped his tea. His opinion of Jiang Yu rose even higher: young, extremely opinionated and determined, with clear boundaries.
Jack Ma's eyes flickered rapidly a few times, then he laughed and didn't delve any deeper. His interest in the "independent control of massive capital" concept had clearly grown even stronger.
A waiter, dressed as a leader, quietly entered, removed the cooled teaware and snack plates, and replaced them with a pot of freshly brewed Yunnan black tea. The tea soup was golden-red and clear, with a rich aroma.
As the tea was served, the conversation shifted to more substantive business topics.
Shen Lanpeng put down his teacup, opened his portable laptop, and pulled up a concise report summary. His gaze swept between Jiang Yu and Ma Yun, and he regained his composure as an investor.
"We invited the two of you here today not only to introduce you to General Manager Jiang and General Manager Ma and exchange ideas on future partnerships, but also because we have a specific project and would like to hear your opinions on whether there is an opportunity for you to participate."
He succinctly introduced UCWeb: "UCWeb, a company specializing in mobile browser development, should be familiar to both of you. Back in the Symbian era, they were already a market leader, offering an excellent user experience. Now, with the rise of Apple's iPhone and Android systems, the mobile internet trend is clearly visible. UCWeb's team has reacted quickly and is fully committed to migrating to smartphone platforms. Their current data growth curve is very impressive, with extremely high user stickiness. I've met the founder, He Xiaopeng, a few times; he has strategic vision, understands products, and the team is very capable. They are now preparing to launch their Series B funding round, raising $2000 million. Sequoia Capital, after a thorough due diligence, is very optimistic about their strategic value in the future mobile internet market and has decided to lead the investment with $800 million. For the remaining $1200 million, I wonder if Alibaba and Light Chaser are interested in participating in the follow-on investment? For example, each taking $600 million?"
Jiang Yu's heart stirred slightly.
UC Browser was one of the most important sources of traffic in the early days of China's mobile internet, known for its data saving, fast speed, and...
Adapting to the complex network environment in China at the time, it accumulated a massive number of loyal users.
In its previous life, UC received multiple rounds of strategic investment from Alibaba before being fully acquired, becoming a core asset of Alibaba's mobile business group and an important part of Alibaba's mobile ecosystem.
Unexpectedly, in this life, thanks to the flapping of Ren's own "butterfly" wings, Sequoia Capital took the lead and actually brought Alibaba and his own Light Chaser together to participate in its Series B financing.
This is undoubtedly an excellent financial investment opportunity, allowing you to secure a key traffic source at a relatively reasonable price on the eve of the mobile internet boom.
$600 million is just a drop in the ocean for Light Chaser Investment at present.
Jack Ma had clearly been researching and in contact with UC for some time, and he responded almost without hesitation: "We at Alibaba have evaluated the UC project multiple times internally. He Xiaopeng is a visionary, and the team has strong execution capabilities. Mobile internet is absolutely the trend, and browsers, as an integral part of it, will become increasingly valuable. Alibaba investing $600 million is no problem."
He then turned to Jiang Yu, his eyes probing, "What do you think, Mr. Jiang? I remember that your Light Chaser Investment doesn't seem to have many pure internet projects, right? It's more about the layout around the cultural and entertainment industry chain."
Jiang Yu nodded, his tone affirmative: "UC is an excellent team and product, and we also recognize the value of mobile integration. Light Chaser's $600 million follow-on investment is acceptable."
He then changed the subject, turning to Jack Ma with a slightly joking tone, "But Mr. Ma, weren't you always eyeing our small stake in Weibo? What, now your interest in social media seems even stronger than in mobile browsers?"
Upon hearing this, Shen Lanpeng also pushed up his glasses, revealing an interested expression.
Weibo, a social media platform that emerged in 2009, is attracting increasing attention from astute investors due to its public opinion field attributes, media dissemination capabilities, and potential traffic aggregation effect.
In the very early days of Weibo, Chasing Light Investment acquired a 25% stake at a very low cash cost using an extremely ruthless and opportunistic approach. This move has been regarded as a classic case in the top investment circles.
In contrast, although Alibaba later became a major shareholder of Sina through investment, its shareholding was only around 10%, and it spent much more real money.
When Jiang Yu saw through Ma Yun's thoughts, he didn't feel embarrassed at all. Instead, he laughed loudly and slapped his leg.
"Mr. Jiang, your information network is truly amazing! Nothing escapes your notice. I genuinely think Weibo is fascinating; it has the potential to become a 'public opinion forum,' and it might create a wonderful synergy with our e-commerce, payment, and future-oriented local life services. Your 25% stake has been the envy of our investment department for a long time. So, is it really no negotiation? We can discuss the price and terms."
He probed with feigned sincerity, but his eyes were very serious.
Jiang Yu smiled and shook his head, his tone gentle but firm: "Mr. Ma, this really isn't about money. We believe that Weibo's dual attributes as a social media and instant media will become increasingly strong in the future. It's not just a traffic generator, but a core arena for content development, brand building, and user interaction. This is a perfect complement to our film and entertainment sector's content promotion, operation, and economic ecosystem; it's a strategic asset, not just a simple financial investment."
Seeing Jiang Yu's resolute attitude, and realizing that the transfer of Zhilan shares was temporarily hopeless, Ma Yun stopped pressuring and went along with it: "Alright! Mr. Jiang, you're too hasty! Let's talk about business cooperation first, and discuss the shares later. Maybe once Weibo is up and running, you'll want to buy Alibaba's shares instead, haha!"
He made a joke, then steered the conversation to a topic he was more interested in. "By the way, Mr. Jiang, since we're on the topic of film and entertainment, Nanpeng and I would like to hear your insights as an industry insider. How big do you think the Chinese film and television culture industry will grow in the next five to ten years? What opportunities are there? Although we've both invested in some related companies, like Huayi Brothers and Bona Film Group, we're still outsiders. We'd like to hear from someone who's actually swimming in the river about its depth and current."
Shen Lanpeng also put down his tea, leaned forward slightly, and expressed his keen interest: "Yes, President Jiang. Investment in the cultural industry has a long cycle and high risks, but once successful, the social impact and long-term returns are also considerable. Zhuiguang is an absolute pioneer and a successful example in this field. Your judgment is very valuable for our future investment direction."
Jiang Yuzhilan, this is a crucial moment to showcase her image as an industry "expert" and subtly influence the future direction of potential competitors or partners.
He paused for a moment, organized his thoughts, and began to paint a picture of a future that was both real and unreal, yet extremely alluring, in a calm and persuasive tone.
"President Shen, President Ma, since you two have asked, I'll offer my humble opinion and share some of my basic methods."
He first adopted a casual demeanor, yet his eyes were full of confidence: "I believe that China's film and television culture industry is currently on the eve of a super boom of explosive growth. The market space and changes in the industry landscape over the next ten years are likely to far exceed our most optimistic estimates."
"First, the basic market scale will see an exponential expansion."
He raised a finger, "With the deepening of urbanization, the continuous growth of disposable income, and the rise of the post-80s and post-90s generations..."
As the post-00 generation gradually becomes the main force of cultural consumption, their demand for high-quality and diversified entertainment content is also surging. The fact that film box office revenue has maintained an exceptionally high growth rate of over 30% for several consecutive years may only be the beginning. In the future, the comprehensive output value of this market—including box office revenue, television rights, online rights, merchandise sales, game adaptation rights, location-based entertainment, and even IP rights to other consumer goods—I personally believe that reaching a scale of hundreds of billions of US dollars is not out of reach. This is a giant market capable of nurturing multiple companies with a market capitalization of hundreds of billions of US dollars.
Shen Lanpeng tapped his fingertips lightly on the table, clearly calculating and assessing the logic and possibilities behind the number.
Jack Ma's eyes grew brighter and brighter. He was already adept at envisioning grand futures, and when he heard Jiang Yu support his massive market expectations with concrete figures and clear logic, it resonated strongly with his own vision of the future "happiness industry" and "spiritual consumption".
Jiang Yu continued, raising his second finger: "Secondly, the technological revolution will reshape the entire industry value chain. This isn't just about advancements in filming and special effects technology, such as the virtual production and real-time rendering we at Light & Shadow Digital are working on. More importantly, mobile internet and the upcoming high-speed networks (the widespread adoption of 3G and the emergence of 4G), along with the rise of streaming media platforms, are fundamentally changing the way content is produced, distributed, and consumed. Content will no longer be confined to movie screens and fixed television time slots; 'anytime, anywhere, personalized on-demand' will become the absolute mainstream. This means that the lifecycle of high-quality content will be greatly extended, its monetization channels will be greatly broadened, and the value of top-tier content will be elevated to an unprecedented level. At the same time, data and technology will be more deeply involved in content creation, user analysis, and precision marketing. This is why we are continuously increasing our investment in technology and have begun to closely monitor and plan for opportunities in television, animation, variety shows, and the future streaming media platforms."
"Third," he raised his third finger, his confidence growing, "is the full arrival of the era of deep IP operation. The value of a successful film or drama should never stop at box office or viewership ratings. Deep development across the entire industry chain, encompassing cross-media and cross-industry sectors, centered around a strong core IP—games, animation, literature, stage plays, derivative consumer products, theme parks, and even educational products—will be the core competitiveness and moat of top-tier cultural and entertainment companies in the future. We need to learn from predecessors like Disney, but more importantly, we must build our own IP universe and business ecosystem, tailored to China's cultural soil and market characteristics. This requires companies to possess full-chain operational capabilities, from original content creation, production, and distribution to derivative development and brand rights."
"Fourth, it is the dialectical unity of internationalization and localization."
Jiang Yu concluded by saying, his gaze sweeping over Shen Lanpeng and Ma Yun, "The Chinese market is vast enough to be our solid foundation. A truly world-class cultural enterprise must possess a global vision and the ability to allocate global resources. On the one hand, we must learn to package China's excellent stories and unique cultural aesthetics using internationally accepted, high-standard audiovisual arts and technologies, and promote them to the global market to participate in global cultural competition. On the other hand, we must also proactively introduce high-quality talent and advanced technologies from around the world to support the upgrading of the domestic market and the improvement of audience aesthetics. Our collaboration with Disney on 'Pacific Rim,' our discussions with European companies on co-productions, and even future potential international mergers and acquisitions or joint ventures in animation and technology, are all based on this logic."
Jiang Yu spoke eloquently, outlining a logically complete, clearly structured, and ambitious blueprint for industrial development, encompassing market regulation, technological advancements, IP operation, and internationalization strategies.
He not only mentioned the current situation, but also predicted that concepts such as "streaming media," "IP universe," and "data-driven creation" are still cutting-edge and not ahead of their time. They are in line with the development trend of the industry, which makes them reasonable and highly forward-looking.
Shen Lanpeng listened intently to this explanation, nodding slightly from time to time, clearly digesting and assessing the potential impact of this information on his investment portfolio.
Jack Ma listened with great interest. He was a master of inspiring imagination with blueprints, and now, hearing Jiang Yu outline the enormous potential and grand blueprint of the cultural industry from another dimension and with more industrialized artistic language, it coincided with his own ideas and even provided more concrete implementation paths.
"Fantastic! Absolutely fantastic!"
Jack Ma couldn't help but clap his hands in admiration, leaning forward excitedly. "Mr. Jiang's insights are truly enlightening, like clearing away the clouds and revealing the sun! No wonder Light Chaser Animation has achieved so much; their vision and approach are completely different! According to your logic, the film and television industry is indeed a blue ocean capable of giving birth to behemoth companies! We at Alibaba have some experience in e-commerce transactions, payment, and computing infrastructure. In the future, in content distribution channels, e-commerce monetization of IP derivatives, and even combining online traffic with offline immersive entertainment experiences, we might find countless points of convergence with Light Chaser Animation, creating a profound synergy!"
Shen Lanpeng nodded slightly and calmly added, "President Jiang's industrial thinking is very systematic. From an investment perspective, the cultural consumption upgrade plan is indeed a long and high-quality path. However, when it comes to specific project selection, team judgment, and risk control, these remain crucial. In the future, Sequoia Capital may be able to form a closer collaboration with Light Chaser in this field, or conduct joint investments in certain high-growth projects."
Jiang Yu smiled and raised his newly refilled teacup to the two men, gesturing, "Of course, you're very welcome. We build an ecosystem together and share opportunities. Light Chaser has some experience in content production and technology development, Sequoia Capital has unique advantages in capital and cross-industry insights, and Alibaba excels in reach and monetization."
After discussing industry trends and the possibility of future cooperation, the atmosphere in the private room reached an unprecedented level of harmony and enthusiasm.
Jack Ma seemed to suddenly remember something, slapped his forehead, and said with a smile, "Hey, speaking of investment, I just remembered that I personally invested in Huayi Brothers a couple of years ago. Those two brothers, Wang Zhongjun and Wang Zhonglei, are quite capable and have a knack for making movies. I heard they're planning to launch their IPO on the Growth Enterprise Market this year. Mr. Jiang, you must have quite a bit of business dealings with Huayi, right?"
Jiang Yu understood and nodded, "We have cooperated; we're familiar partners."
He himself was present at the meeting because Ren had previously exchanged some resources and acquired 1200 million original shares of Huayi Brothers, with the cost being almost negligible.
This can be considered an "unexpected" financial gain brought about by time travel and industrial layout.
Jack Ma, a well-known entrepreneur and angel investor, also owns a considerable number of Huayi Brothers shares, approximately 3000 million shares, which he invested with real money.
"Oh, so that's how it is," Jack Ma's eyes lit up, his smile like a fox discovering a new continent, "that means Mr. Jiang and I are not only co-investors in the UC project, but we'll also be working side-by-side as shareholders of Huayi Brothers in the future? Wouldn't you call that a strange kind of partnership?"
Shen Lanpeng jokingly added, "If that group comes, I'll have my team work on it quickly to see if they can squeeze on board at the last minute before Huayi's IPO. With two star shareholders like you investing, market confidence and attention will definitely be different, and the success rate might even increase by several percentage points."
The three of them smiled knowingly, and the tea ceremony continued until nearly six o'clock in the afternoon. Jiang Yu declined the dinner invitation.
Shen Lanpeng, wearing a watch, and the initiator of today's meeting, made a general statement: "The Series B financing for UCWeb is tentatively set: Sequoia Capital will lead with an $800 million investment, while Alibaba and Light Chaser will each invest $600 million. I will have the responsible partner expedite the legal documents. As for other broader cooperation possibilities, including collaboration in cultural industry investment and the business-level cooperation mentioned by Mr. Jiang, we will maintain close communication and can have our respective strategic investment departments or business departments connect first."
Jack Ma stood up, seemingly still unsatisfied, and patted Jiang Yu's shoulder forcefully, his voice trembling: "President Jiang, this tea was well worth it! So much information, so many gains! Next time you must come to Hangzhou, visit my Xixi Industrial Park, have some Hangzhou Long Lv tea, and let's collaborate on some projects together, besides investing in UC and Huayi! The doors of Taobao and Alipay are always open to you!"
Jiang Yu also stood up, shook hands with the two again, and smiled sincerely: "I will definitely pay a visit and learn more from Teacher Ma. The cooperation mechanism is very practical and will last a long time. Thank you, President Shen and President Ma, for your valuable time and insightful opinions."
The three of them went to a private room and parted ways again in the corridor of the Peace Hotel, which was filled with a sense of antiquity.
Jiang Yu and Wang Wei saw Shen Lanpeng and Ma Yun off at the hotel's quaint entrance, where they boarded their respective cars and disappeared into the evening traffic on the Bund.
The wind blowing from the Huangpu River finally brought a touch of damp coolness, and Wang Ming had already driven the car smoothly to the gate.
Jiang Yu nodded, got into the car, and savored the high-quality meeting on corruption that had just taken place.
Engaging in equal dialogue with business leaders of the caliber of Shen Lanpeng and Jack Ma, and even subtly occupying the positions of "leader" and "definitive figure" in discussions about the future development of the cultural industry, this feeling, even with his experience and temperament as a man of two lifetimes, could not help but stir a slight ripple in his heart.
The investment in UC is a strategic move to position itself in the upcoming surge of mobile internet traffic.
Capital, traffic, content, technology, ecosystem—a grander and more complex game of chess is becoming increasingly clear in his mind, and his moves are becoming more precise and decisive.
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