Chapter 2649 Dictator

As he deepened his understanding of PayPal's business, Zhou Buqi increasingly felt that it was crucial and urgent to carry out comprehensive rectification of PayPal.

In the past few years, under Yi Bei's command, he has been cheated miserably.

It doesn't look like an Internet company at all.

Worse than Yahoo!

Yahoo's board of directors is not united enough and there are many internal factions, which leads to poor business development. However, this company has always been at the forefront of the Internet in terms of corporate culture and corporate processes.

eBay is completely different.

More like a traditional business.

This has something to do with the style of eBay’s meritorious CEO Meg Whitman. She was originally a senior vice president of Disney. In the 1990s, she was defeated in a fierce power struggle within Disney and then jumped ship to join eBay.

Ms. Whitman has indeed created great success for eBay, but she has also transformed eBay from a free and open Internet company into a traditional enterprise.

One of the most typical signs is the meeting.

All decisions, big or small, within the company must be made in meetings, and these are offline meetings. Whitman believes that only face-to-face communication in offline meetings can truly inspire everyone, stabilize the company's order, and make decision-making results the most stable and safe.

But this efficiency is really too slow!

An offline meeting means reserving a time and everyone needs to be available. Moreover, long talks in various PPT formats and meeting formats are also a waste of time.

For such problems, Internet companies have already had new solutions.

For example, Ziweixing developed Weishu.

Through WeChat, several people can form a group and hold temporary online meetings. Everyone uploads relevant materials and data, and everyone can express their opinions and discuss freely.

All meeting records will be automatically archived and backed up by Weishu.

Meeting secretaries are omitted.

This greatly improves work efficiency. Even if an employee is on vacation or is sick and hospitalized, he can temporarily participate in a meeting online.

For Internet companies, the most important factor is speed.

Whoever is faster will stand out.

This speed is not only the speed of business development and operation, but the most important thing is the speed of decision-making.

Therefore, most of the AB share system is applied to Internet companies, which is related to the speed of the Internet's survival factors.

How to speed up?

In addition to establishing the correct corporate culture and corporate processes, the most important point is dictatorship.

Big or small matters, one person can make the final decision!

There is no need for back-and-forth democratic discussions. The speed is increased instantly, and top decisions can be issued as quickly as possible, and then the entire company can be mobilized quickly to implement this result.

For example, Yahoo has been surpassed by Google and Facebook.

There are such institutional differences behind it.

Yahoo is not an AB stock, and Yang Zhiyuan does not have absolute control. He has to use various means to compete with the management on the board of directors, form cliques, and engage in constant internal battles.

The same cannot be said for Google and Facebook.

They are all AB shares.

The voting rights of the stocks in the hands of the founder are one vote is worth ten votes, and one vote is worth one hundred votes. They can have absolute control, monopolize power, and say whatever they say will be done! Any other different voices are meaningless. If the founder says a word, the company must implement it immediately.

Whether it’s Larry Page, Mark Zuckerberg, or Ziweixing’s big boss Zhou Buqi, they are all veritable “dictators.”

This efficiency has been greatly improved, and the development speed is far beyond that of Yahoo!

However, the form of AB shares has also been criticized by many experts.

The risk is too great.

Once a "dictator" becomes self-willed and insists on his own way, he will continue to make all kinds of wrong decisions, launch one unfinished project after another, firmly hold the control of the company without any self-awareness, and shamelessly always believe in his own judgment. , this company will suffer disaster.

The interests of shareholders will be seriously damaged.

Facebook, worth a trillion dollars, almost collapsed because of Zuckerberg’s mistakes.

In contrast, democratic conferences like Yahoo and eBay can prevent this risk to a certain extent. However, this is the logic of traditional industries.

The Internet industry is different.

If you are a dictatorship, the risk is high; if you have democratic decision-making, even if the decision-making risk can be reduced, when the speed is reduced, you will encounter greater industry risks!

The former is internal strife, and the latter is external aggression.

That's what's special about the Internet.

Traditional concepts simply don’t work. This is the difference between the lowest thinking model and the institutional model.

Going left won't work; going right won't work either.

For Zhou Buqi, there is not much of a problem.

He is a "dictator", but he is prophetic and self-aware. If it is really unsuitable, he will definitely resign and give way to someone else without anyone having to tell him.

Therefore, Zhou Buqi has to attack PayPal from two aspects.

First, win over more partners.

First there are Carl Icahn and Bill Gates, then Black Rock Capital and Musk. With so many powerful partners supporting him on the board of directors, Zhou Buqi will have a greater chance of becoming PayPal's "dictator" .

This is the first step.

Only by becoming the dictator of PayPal can government orders be passed and PayPal can be promoted and developed as quickly as possible.

If we are slow to act, and Amazon, Apple, and Microsoft all obtain relevant licenses and take action, the competitive situation will become more complicated, and the preemptive opportunity will be missed.

Second, we must start with corporate culture.

We must eliminate the remaining poison left by eBay within PayPal!

We have to hold meetings to study both big and small matters, and it is very formal to choose a meeting room, reserve a time, arrange the meeting process, and even prepare meeting catering and meeting plans... A group meeting of three or five people can be done as smoothly as possible. The board of directors is as formal.

What's the need?

Even if it's like the email conferencing model that Yahoo used before, is that okay?

Here, PayPal's corporate culture must be replaced by Ziweixing, and use a series of Ziweixing International's enterprise products, Everbook, EverNote, EverZoom, EverDrive, etc.

Transform PayPal on the Internet through online tool products.

Musk accepted the invitation and was willing to return to PayPal's board of directors as a veteran, and to bring back one or two of the former core entrepreneurial figures to regain PayPal's youth...

This is a perfect start for Zhou Buqi's transformation plan for PayPal.

Next, Musk asked Boss Zhou for help.

Musk was very anxious, "The videos on the Internet are really troublesome, let us..."

"Wait!" Zhou Buqi raised his hand, "Please tell me clearly first, what kind of video is it?"

Musk said angrily: "It's been spread everywhere in Helo's circle of friends, haven't you seen it? There are also numerous news reports from Yahoo."

Zhou Buqi said: "How can I have time to look at those things?"

Musk sighed, "Didn't Tesla launch a new luxury sedan Model S, which is much cheaper than the previous sports car. With the price reduction, there are more consumers, and there have been many battery burning incidents. Most of them are Combustion caused by collision, but there is also spontaneous combustion. Our battery technology still has big problems."

"Um."

Zhou Buqi nodded.

I understand that Tesla has just started, and many technologies are not mature enough.

Musk said: "But that's not the most important thing."

Zhou Buqi said lightly: "They are all minor problems."

"No, it's serious!" Musk looked serious. "The news has come out that the California Air Resources Board may modify the ZEV rules of the zero-emission vehicle program, which will restrict Tesla from selling ZEV credits in large quantities to other automakers. And profit. ZEV is now Tesla’s nuclear weapon to achieve profitability in the first quarter! Once this weapon is eliminated, we will be finished!”

Zhou Buqi waved his hand, full of confidence, "No."

Musk said solemnly: "Seven very important shareholders have already sent me a notice requesting the transfer of more than 16 million shares. The 16 million shares account for 10% of the total share capital!"

Zhou Buqi continued to understate it and said with a smile: "It's a small matter."

"Have you seen Tesla's financial report?" Musk felt helpless as he felt that his back hurt while standing and talking. "In the first quarter of this year, Tesla made a profit for the first time in history. This made Tesla's stock price rise rapidly. has surged, and the market value has once again exceeded 10 billion U.S. dollars. The reason for the profit is that the sales volume of Model S is not bad, and secondly, we have made a lot of money by selling ZEV credits. Now, Model S has encountered a product crisis, and the ZEV credit rules Or it could be modified by California. Both of our legs could be chopped off."

"The stock price fell?"

"It has fallen. After the financial report was announced in May, the stock price has been rising. But it has not been able to do so recently. Not only has the stock price fallen, many core shareholders also want to exit."

"It's good to quit!"

Zhou Buqi didn't feel nervous at all, but felt that this was a good thing.

Musk was speechless to him, "16 million shares, with a total value of nearly US$1 billion. Can you find an institution to take over so many shares?"

"Simple."

"Um?"

"Me." Zhou Buqi pointed to his chest, "If it doesn't work, I'll take the next step."

"You?" Musk was startled for a moment, then firmly refused, "Impossible! How many stocks do you hold? Do you want to turn Tesla into your private company?"

Tesla is not an AB stock.

Musk’s personal shareholding is 20%.

However, Zhou Buqi’s shareholding reached 25%, making him the largest shareholder. His existence is the biggest threat to Musk’s power.

Fortunately, part of the 25% of stocks held by Zhou Buqi is temporarily authorized to Musk, and 7% of the voting rights are permanently authorized to him.

This results in Zhou Buqi’s voting rights being 18% and Musk’s voting rights being 27%.

No matter how many stocks there are, they are all fictitious.

Voting rights are distribution rights. Whoever has greater voting rights is the real largest shareholder. If Zhou Buqi catches this 10%, the voting power will reach 28%, which will exceed Musk's 27%...

The most important thing Musk relies on when doing business is his status as a "dictator", and no one can rob him!