In Chen Pingjiang's view, Cheng Binghao lacked a global strategic vision, but his execution ability was quite good; otherwise, Sina wouldn't have dared to make him CTO.
Lacking a strategic vision meant that a perfectly good Kaixin.com was played to its death in his hands.
While WeChat and Weibo's sniping certainly played a part, it was also due to his own inability to consistently find direction.
Cheng Binghao thought Chen Pingjiang was bragging.
He didn't quite believe that a painstakingly built enterprise would be handed over for someone else to lead.
"What if I refuse, CEO Chen?"
Chen Pingjiang shrugged:
"Then I'll just have to team up with Xiaonei.com and Tencent to take you down."
"Uh."
Chen Pingjiang's approach wasn't actually wrong, but Cheng Binghao didn't like hearing it.
The business world is ultimately cruel; the law of the jungle is always right.
Chen Pingjiang flew back to Dongjiang that afternoon.
As he expected, Cheng Binghao, this wild horse, wasn't so easy to tame.
His refusal of the favorable terms from Xiaonei.com and Tencent proved his ambition to achieve something in the social networking field.
Cheng Binghao also didn't believe Chen Pingjiang could do much with the legitimate kaixin.com domain name.
While a butterfly's flapping wings might slightly advance the process, a person's character cannot be changed.
Back then, Cheng Binghao repeatedly rejected Fu Zhengjun's and Chen Yizhou's proposals to use domain names for equity, believing that a mere domain name couldn't stir up big waves.
He later personally admitted in his autobiography that he didn't do enough regarding the domain name issue.
Unless absolutely necessary, Chen Pingjiang didn't want to resort to the trick of a fake and real Kaixin.com.
But, the business world is like a battlefield.
Throughout the summer, China's internet social networking market presented a scene of blooming diversity.
Leading the pack was Renren.com, which continued to dominate the social circle with its legitimate "Grab the Parking Spot," "Super Boy," and an increasingly perfect ecosystem.
In just two months, Renren.com's registered users surpassed 20 million.
Following closely was Xiaonei.com.
Xiaonei.com, having raised a large sum of money, was incredibly arrogant, but its biggest problem was constantly trailing behind Renren.com, mimicking whatever Renren.com did without any originality.
Kaixin.com was the worst-performing among the three major SNS platforms, with only 2 million registered users.
......
In the blink of an eye, summer vacation ended.
Everyone in Dorm 603 also rushed back, and upon meeting, they were exceptionally warm.
"Dorm life is still the best, sleep until whenever I want, nobody bothers me, eat instant noodles if I want, play games if I want."
Zhao Shaoyang stretched.
"It's just that this damn dorm is too hot. The school won't even install an air conditioner, and our dorm is supposedly the most valuable one in the country."
Dong Tinghui burst out laughing:
"I can say that too. Old Chen and I partnered up to take down the richest young man under twenty in the country."
After saying that, the guy turned his head to look at Chen Pingjiang, puzzled:
"Old Chen, why are you back? Aren't you staying in your den of luxury?"
Chen Pingjiang glared at him sideways:
"Den of luxury my ass. This summer, I've been like a lonely old man, just working, coming home, and sleeping every day."
Zhao Shaoyang's eyes widened in disbelief:
"No way? Brother Chen, you have so much money and you're so young, don't you know how to enjoy it? In novels and TV shows, rich second-generations live lavishly, spending money like dirt, even shouting 'This young master is paying for everyone's consumption' at bars."
Dong Tinghui sneered:
"You naive kid, listening to Old Chen showing off. He specifically came back just to rub it in our faces. I don't believe it anyway; with so much money, yet working so hard without enjoyment, what's the point of earning money then?"
"Do you think I'm like you guys? I'm someone who has risen above vulgar interests."
"Haha!"
"Ugh!"
"..."
Seeing their disbelief, Chen Pingjiang didn't bother to explain.
It was only because Renren.com was stabilizing, the catering group was entirely handed over to Ge Mengshi, and the Renren Group Buy project hadn't started yet, that Chen Pingjiang had some time to rest a little.
"Tomorrow is freshman orientation, brothers, should we go help the new junior girls carry their luggage or something?"
"Someone who won't even pick up an overturned soy sauce bottle at home, are you really going to carry luggage or look for potential targets? Besides, their parents will be with them, so it won't be that easy to make a move."
Zhao Shaoyang's eyes darted around, then he suddenly lit a cigarette for Chen Pingjiang ingratiatingly:
"Brother Chen, don't forget you're the president of our Public Relations Student Union. Receiving freshmen is part of your job, isn't it? Will you take your little brother with you tomorrow?"
Although Dong Tinghui was eager to go, seeing that Chen Pingjiang hadn't spoken, he deliberately said the opposite to gauge Chen Pingjiang's attitude.
"Look at you, you clown. Old Chen is the president, why would he be carrying luggage like a minion? At the very least, he'd be sitting there registering people."
Chen Pingjiang laughed and cursed:
"You two's abacus beads are practically jumping onto my face. I'm definitely not going. If you two have ideas tomorrow, I'll have the student union arrange it for you."
"Thanks, dear brother."
In the evening, Chen Pingjiang arrived at a private club in the city as arranged.
It was a gathering put together by Old He.
Liu Cheng, who was Lu Lizhen's husband, also came.
Chen Pingjiang also called Wan Qiping from Guoqiang Driving School to join them.
Wan Qiping, who received Chen Pingjiang's call, thought he had misheard.
He often sighed, lamenting that the young man who seemed extraordinary back then had reached such heights in less than a year.
They used to play mahjong together, but as Chen Pingjiang's status grew and he became busier, they had fewer interactions.
"Heh heh, is today a 'recall past hardships and appreciate present sweetness' gathering?"
Wan Qiping joked.
Chen Pingjiang also smiled:
"Old Wan, you're overthinking it. To be honest, you were the first benefactor I met on my entrepreneurial journey. If it weren't for you placing Renren.com's first advertisement back then, I wouldn't know if I'd be here today."
Wan Qiping waved his hand:
"We had a mutual cooperation. Placing ads also brought a considerable income to our Guoqiang Driving School. Besides, even without my ad placement, wasn't there still CEO Lu, Liu Cheng's wife?"
"In short, you are all my benefactors."
The private club Old He chose was considered quite high-end in all of Dongjiang, offering everything imaginable for food, drink, and entertainment.
After playing mahjong, it was already midnight.
Old He suggested:
"It's getting late. How about we take a bath, grab some late-night snacks, and sleep here tonight? The crab roe noodles here are exceptional, made by a chef specially invited from Shanghai. And by the way, health massages are on the sixth floor."
Liu Cheng and Wan Qiping had no objections.
The three men then looked at Chen Pingjiang.
Although Chen Pingjiang was the youngest, he was subtly the leader among them.
If Chen Pingjiang shook his head, the gathering would likely disperse.
Chen Pingjiang, seeing the situation, smiled teasingly at Wan Qiping:
"Old Wan, you usually complain that your wife is strict. If you don't go back tonight, won't your wife call your phone until it's off?"
Wan Qiping snorted indifferently:
"Normally, I'd let her have her way, but I'm not going back tonight. What, is she going to turn the world upside down?"
What Chen Pingjiang didn't know was that Wan Qiping had already "vaccinated" his wife before leaving.
When Wan Qiping's wife heard he was with Chen Pingjiang, she actually proactively said he didn't need to come back if it got too late.
Although Wan Qiping's wife had never met Chen Pingjiang, she always heard her husband mention his name.
In her eyes, even a tiny bit leaking from Chen Pingjiang's fingertips would be enough for her husband to be well-fed and satisfied, so why would she object?
In the hot spring pool, a few men were naked, soaking in the bath.
Liu Cheng found an opportunity to ask:
"Pingjiang, you're well-informed and quick-witted. Could you give Old Wan and me some pointers on good projects? Seeing Old Wan's Yuanfang Supermarket getting better day by day, we also want to progress."
"What? Aren't your private kitchen and Old Wan's driving school doing well? Why the sudden thought of changing careers?"
Wan Qiping shook his head:
"It's not exactly a career change. Old Liu and I are similar; usually, someone manages the driving school, so I don't have much to do. We can't just keep muddling along, can we? We'll be left far behind by you and Old He, and then we won't even be friends anymore."
Crude words, but not crude reasoning.
It's foreseeable that if Wan Qiping continued to operate Guoqiang Driving School conservatively, he would eventually drift out of Chen Pingjiang's circle of friends.
After thinking for a moment, Chen Pingjiang said:
"If an ordinary person asked this, I definitely wouldn't bother. But Old Wan and Old Liu are different; you were both benefactors in my early entrepreneurial days. I'll give you a project; becoming super rich might be tough, but moderately rich shouldn't be a problem."
Liu Cheng and Wan Qiping instantly perked up.
If someone else had said it, they would both think the person was bragging, but coming from Chen Pingjiang, it was particularly trustworthy.
"I know all three of you are in the stock market. If you trust me, sell everything."
This sentence was no less than dropping a bombshell, surprising the three men while also leaving them somewhat puzzled.
He Zhiyu frowned:
"Do you have some insider information? The stock market is doing so well right now."
Liu Cheng echoed:
"Exactly, the A-share market is about to break 6000 points, and many experts are optimistic, thinking it can even reach 10,000 points."
Chen Pingjiang laughed inwardly.
Was the "Burmese A-shares" moniker given for nothing?
What happened in the stock market from 2007 to 2008?
From October 2007 to September 2008, the Shanghai A-share index plummeted from 6124 points to 1802 points, a decline of 70.6%.
Investor sentiment in the securities market was extremely low, a large number of new stocks fell below their issue prices, and the securities market lost its financing function.
A survey of stock investors in September 2008, possibly the largest such survey to date, showed that among 700,000 investors, only 4.34% made a profit, 3.15% broke even, and the proportion of those who suffered losses reached 92.51%.
Subsequently, at 9:55 AM on October 28, 2008, the Shanghai Composite Index hit its yearly low of 1664.93 points.
This was after the stock market had plunged for an entire year from its peak of 6124 points in October 2007, finally hitting rock bottom.
Stock investors created online jokes that went,
"A BMW went in, a bicycle came out; a suit went in, a bikini came out; a young man went in, an old man came out; a rich man went in, a beggar came out; Yao Ming went in, Pan Changjiang came out; black hair went in, white hair came out; walked in with a dog, was led out by the dog..."
And it was already late August at this time, meaning the A-share market had one last month of glory left.
"There's no insider information, it's all my personal judgment. Believe it if you want, it doesn't matter if you don't. When others are greedy, I'm fearful; when others are fearful, I'm greedy. The stock market is too hot right now, too many people are embezzling public funds to trade stocks, borrowing money to trade stocks, selling houses to trade stocks, blowing the bubble bigger and bigger.
Do you think that's normal? Once the state implements a tight monetary policy and bursts this bubble, the consequences are unimaginable. The only difference is when this bubble will burst—it could be tomorrow, it could be next month, but it definitely won't be beyond next year."
He Zhiyu and the other two exchanged glances, with a hint of fear in their eyes.
At first, they didn't pay much attention, but on second thought, it was terrifying.
Forget about others, all the available cash in their own families was floating in the stock market.
He Zhiyu was the first to nod:
"I'll sell everything tomorrow. Although experts had said something similar back then, I didn't take it seriously. Now that you bring it up, combined with the fact that all the management in our company are trading stocks, I somewhat believe it."
Among those present, if one were to say who trusted Chen Pingjiang's judgment the most, it would undoubtedly be He Zhiyu.
Wan Qiping asked:
"Once the money is pulled out of the stock market, where should it go?"
Chen Pingjiang blinked and said with a smile:
"There are only two domestic 'reservoirs' for money: the stock market and real estate. When the stock market falls to the point where everyone is scared, funds will pour into real estate, constantly pushing up housing and land prices. So, while there are no purchase restrictions, buy as many properties as you can."
(End of Chapter)