Chapter 200

Investing 20 million in a little-known small company, and a small company that industry insiders didn't think highly of and couldn't even sell for 1 million—if this got out, some people in this era might secretly mock Wu Yuchen for being a fool. But if this were 20 years later, in an era where basically everyone could talk about venture capital, many netizens would definitely understand Wu Yuchen.

Venture capital, especially when acting as an angel investor, isn't about the less money you put in and the more shares you occupy, the better. If he were aiming for less money and more shares, Wu Yuchen could have bought the company for 1 million and then hired people to work for him at a high salary. But the risk of this project would then increase out of thin air.

Venture capital doesn't just invest in the track and industry; more investors value the entrepreneur and the entrepreneurial team themselves. This kind of startup is basically inseparable from the entrepreneur because others won't spend so much effort on a godson. Would someone else have the same hard work as Little Pony?

If the company is completely Wu Yuchen's, or rather 80-90% of the shares are his, do you think Little Pony and their team would still be willing to put so much effort into the QQ software? Can the explosive energy of working for others be the same as working for yourself?

The relationship between the entrepreneurial team and investors is inherently one of mutual support and mutual precaution. Take a well-known example: everyone knows that Jack Ma of Alibaba got 20 million in investment from SoftBank's Masayoshi Son. But in fact, Masayoshi Son wanted to invest 40 million dollars for 49% of the shares. Jack Ma was happy to accept it, but it was stopped by Joe Tsai. In the end, Joe Tsai only accepted 20 million for half of the shares for the other party, because this involved the issue of the entrepreneurial team's control over the company.

Including the later introduction of 1 billion US dollars from Yahoo, it wasn't just for money, but also to add a major shareholder to contend with Masayoshi Son, because Masayoshi Son had already made moves to seize control at that time. Alibaba's ability to reach its later stage is inseparable from the team of Jack Ma and Joe Tsai.

Wu Yuchen is investing not only in QQ, but also in Little Pony and this team. Therefore, this share must be controlled at a relatively good scale. 40% is just about right, which is convenient for his next round of investment and also leaves enough space for the founding team to control and hold shares.

As for why it wasn't 3 million or 5 million, spending 20 million is because this number is enough for QQ to burn. If you invest 3 or 5 million, it will be gone in a few months. In the past life, IDG and PCCW invested a total of 2.2 million US dollars in Tencent in exchange for 40% of the shares. Do you really think they were stupid and didn't know QQ couldn't be sold before?

This amount of 2.2 million US dollars was calculated by venture capitalists. The cost accounting of servers, salaries, etc., can tell how long it can last, enough for Tencent to reach the next round. Wu Yuchen isn't a stingy person either. 20 million yuan converted into US dollars is also 2.4 million, enough for Tencent to use for more than a year.

Although he knew that the internet bubble would burst in a few months, he didn't remind Little Pony to save money, just letting him burn it out by the end of next year. That time is the coldest period in the internet industry. Even if Little Pony has figured out the relationship between the entrepreneurial team and investors, no one else is willing to invest. If he wants to survive, he can only accept Wu Yuchen's continued investment. Wu Yuchen doesn't have many requirements; he just needs to keep 60% of the shares before going public.

As for those saying that the second generation is coming to seize Tencent's equity, that's really thinking too much.

Wu Yuchen himself, of course, wants to put his main energy into the main industry of culture and entertainment. As the saying goes, you have to love the industry you work in!

Upon hearing this, County Magistrate Niu couldn't help but nod, and then instructed his secretary: "Little Chen, you're right. If it really is Wu Yuchen who came, you should instruct everyone to do a good job of keeping it confidential later, and don't leak it to Hengdian!"

A few years ago, Director Xie Jin filmed "The Opium War," which immediately drove Hengdian to develop. Then Chen Kaige's "The Emperor and the Assassin" was also set in Hengdian. Over the past two years, it has attracted film crews of all sizes, making Hengdian gradually look more and more prosperous.

"County Magistrate, you'll know once you go over and take a look. If it really is Wu Dao Yuchen, then I think this matter is actually reliable. With Wu Dao's appeal, every place is eager to invite him. I guess if Hengdian finds out, they will definitely come over to snatch him immediately."

In the sedan, a middle-aged man in his 50s asked his secretary: "Little Chen, how did this inspection choose such a remote place?"

The secretary smiled and said:

And now, this great director, Wu Yuchen, who is better than Xie Jin and Chen Kaige, has come in person. Then we must try our best to keep his new film in our Xiangshan!

The middle-aged man's white short-sleeved shirt was tucked into his belt, his skin was dark, and the leather shoes under his feet were stained with mud. He was the mayor of Xinqiao Town, introducing the local situation with great effort.

In this day and age, all places welcome investment from Hong Kong businessmen and provide many preferential policies. However, there are also many "Hong Kong businessmen" who are actually swindlers, and there have been many cases of swindling money, land, and factories. Therefore, County Magistrate Niu also has some precautions in his heart. However, when it involves an investment of 100 million, he must come in person.

Wu Yuchen listened to the introduction while looking at the boundless land on the other side of the river, and couldn't help but feel satisfied. It doesn't matter if it's remote; it's only because it's remote enough that he can display his skills at will!

When the time comes, get all the buildings from the Spring and Autumn period to the Republic of China era, such as the Ming and Qing Street, Qin, Han and Tang Street, Song City, Along the River During the Qingming Festival, Ming and Qing Palaces, Jiangnan Water Town, Hong Kong Street, Guangzhou Street, Hollywood, etc. Not one can be missing!

Wu Yuchen is not short of money now. Having earned so much in America, he naturally wants to take some back to invest in our China to build and give back to the motherland. And the film and television city is one of his goals. It can not only expand his influence and industry voice, but also drive the local economy and benefit the local people. Why not do it?

Hengdian's rise relies on 4 waves of rhythm. The first wave is Xie Jin's "The Opium War," and the second wave is Chen Kaizi's "The Emperor and the Assassin." But in fact, these first two waves can only be considered as laying the foundation, because these two films cannot be considered very successful, and their influence is not as great as everyone imagines.

And this third wave is very important. Although Zhang Yimou's "Hero" was scolded by many people back then, the momentum of this film far exceeded "The Emperor and the Assassin" and "The Opium War," bringing great traffic and publicity to Hengdian. Since "Hero," Hengdian has basically sat in the first chair of domestic film and television cities.

When the film ended, the lights in the Great Hall came back on, and applause thundered out.

Wu Yuchen curled his lip and sighed: "Sister Ranran, you've forgotten the old for the new!"

Xie Jin came over and patted Wu Yuchen on the shoulder, saying:

"It was filmed too well! Although there might be some controversy after your film is released, at my age, I truly have deep empathy for it! Dare to film, able to film—the future will depend on you all!"

Li Xiaoran nodded. A few years ago, she was also an extra, playing a maid, being scolded like a grandson by the production staff. Now, seeing Xie Na, it was as if she saw her former self, and she felt a bit sentimental. Back then, she had Wu Yuchen to help her, and now she wanted to give someone else a hand.

Wu Yuchen put on a pitiful look: "Then what about me? Sigh, this huge house—there will be no room for me in the future! How sad!"

Wu Yuchen held her and rubbed her: "I just don't want outsiders living in."

"Didn't you say you were going to the United States for the Oscars in the next few months?" Li Xiaoran looked up at him.

Li Xiaoran smiled and gave Wu Yuchen's waist a light pinch: "Why are you so overbearing!"

Wu Yuchen quickly said: "President Zhu, please don't put pressure on me. After all, so many excellent films haven't succeeded before; I can only say I'll do my best!"

However, it would be impossible for her to climb back up. When the time came, he would have Cai Yinong step in to drop a hint and cut off her path at Mango TV. Wouldn't it be fine to just let her keep fawning over Li Xiaoran for the rest of her life?

Li Xiaoran adjusted her posture and snuggled into Wu Yuchen's arms, nudging him:

Li Xiaoran's heart softened upon hearing this; after all, this had always been their little two-person nest.

Li Xiaoran hugged Wu Yuchen's arm, acting like a fan: "May I ask, Master, I want to become a billionaire, what should I do?"

Wu Yuchen immediately understood: "Are you thinking about your time as an extra again~"

Li Xiaoran patted him: "Stop joking, you haven't even met her!"

"If I were shy and embarrassed, you might not even like me!"

Wu Yuchen lightly bit her pouting lip: "Just say I don't agree, that it affects my quality of life. Let's see if she dares to have an opinion!"

Wu Yuchen didn't want to build up too much hype now. If they didn't win, it would disappoint too many people. It was best to keep things as they were; don't raise expectations too high. If they could win, it would be a big surprise.

The Saturday preview was naturally arranged by China Film at the Great Hall of the People. Although it wasn't an auspicious date, many people came to show their support, even those who hadn't received invitations. After all, Wu Yuchen's momentum was right there; it was no exaggeration to say he had caught up to Zhang Yimou and Chen Kaizi, or even surpassed them. It was only due to his age that everyone hadn't pushed him too high yet.

Wu Yuchen pinched his fingers to calculate and said: "Buy three or four more of these apartments upstairs and downstairs. Wait 15 years, and you'll naturally become a billionaire."

Li Xiaoran patted him and said huffily: "What new or old..."

Wu Yuchen shook his head with a "you are beyond help" look: "In short, I have a bad impression of this Xie Na. Be careful when you associate with her."

Li Xiaoran tilted her head and asked: "Then have you mastered it?"

Xie Jin also knew this principle well, so he helped Wu Yuchen say: "Just do your best. Actually, getting a nomination is a victory!"

Li Xiaoran silently calculated in her heart. The current market price for this house was 5,000 per square meter. 160 square meters—4 units would be 640 square meters. 640 square meters for 100 million? 150,000 per square meter?

"Talking nonsense, I don't believe a word of it!" Li Xiaoran scoffed.

"I've achieved minor success; I know 20 years into the past and 20 years into the future!" Wu Yuchen patted his chest and said.

At this moment, Jiang Wen walked over with a smile, cupping his hands:

"Teacher Xie, you flatter me. I still have a lot to learn and practice!" Wu Yuchen said modestly.

The few people standing around also echoed his sentiments. Since the news broke a few days ago that *Love* was going to compete for the Oscars, many people had expectations for it. After all, this was a film that had already won the Golden Lion, and it came from Wu Yuchen, who had been shocking the United States repeatedly.

People kept coming over to congratulate Wu Yuchen, such as Xie Jin, who was previously recognized as the number one director in China. After filming *The Opium War*, his health hadn't been great, and he hadn't come to the premiere of *Don't Fool Around*. This time, he was specifically invited by Zhu Yongde, the head of Shanghai Film.

"Wu Dao, I admire you! The style of your *Love* is completely different from your previous *Don't Fool Around*. The last one was black comedy, absurd to the extreme, and this one is realistic and cold. Using different visual styles to express different themes with such ease—truly impressive!"

"Director Jiang, you flatter me. I'm still waiting for your new film to come out!"

"I can't compare to you in that regard!"

Last time Jiang Wen came to see *Don't Fool Around*, his *Devils on the Doorstep* hadn't finished filming. Now, Wu Yuchen's *Love* had already won the Golden Lion at Venice and returned for its premiere, while his *Devils on the Doorstep* was still in editing. Therefore, Jiang Wen truly admired Wu Yuchen's speed in making films—fast and good. He really couldn't compare.

Actually, it wasn't that Wu Yuchen was fast; his speed was just normal. It was Jiang Wen who was truly slow. However, Wu Yuchen wouldn't say that out loud. Instead, he gave a thumbs up and said with a smile:

"Director Jiang, slow work yields fine products. Nezha was in the womb for three years and six months before he was born. Your film will definitely be extraordinary!"

Jiang Wen waved his hand and shook his head:

"Hi, Wu Dao, I don't want to suffer Nezha's fate. I'm just here today to soak up some of your good fortune. Hopefully, it will bless me to pass the censorship smoothly!"

Upon hearing this, Wu Yuchen thought to himself that his words were unintentional, but they might actually come true. Nezha wasn't liked by his father after birth, fought against the Dragon King who represented the rules, and was forced to commit suicide. Wasn't this the fate of Jiang Wen and *Devils on the Doorstep* in his past life?

Thinking of this, Wu Yuchen could only smile at Jiang Wen and wish him good luck.

After most people had left, Han Sanping and Hou Keming walked over. Hou Keming said to Wu Yuchen happily:

"You've reached this point, and we at the school have nothing left to teach you. But when you're free, remember to come back to Beijing Film Academy to give a lecture. I've already reserved that with you!"

Wu Yuchen thought for a moment and said: "Dean Hou, let's wait until next year. I really have too much going on this year."

"Fine, it's up to your schedule."

Then Hou Keming added with a smile: "We've communicated with the Golden Rooster Awards. They said they specifically moved the date up this year for you! You should go and have a good exchange with them."

The Golden Rooster Awards had just announced their nominations, and *Don't Fool Around* was prominently listed, with multiple nominations.

Wu Yuchen couldn't help but ask: "The results are already out?"

Han Sanping smiled and said: "You underestimate yourself and Dean Hou too much. If they don't award it to *Don't Fool Around* this year, the Golden Rooster Awards might as well stop holding the ceremony and wait to be scolded to death!"

The current Wu Yuchen was no longer the novice he was two years ago. Back then, the Golden Rooster Awards would say he was just starting out, too young, and needed more practice, only giving him the Best Directorial Debut award.

But now? Wu Yuchen had not only achieved the feat of winning both the Golden Bear and the Golden Lion, but he had also produced box-office hits like *Il Mare* and *My Sassy Girl*. Furthermore, he had established the reputation of a big Hollywood director with three films in the United States. Who would dare say he needed more practice?

Moreover, not to mention the strong support Wu Yuchen had from Beijing Film Academy, all the major studios—China Film, Shanghai Film, Xiaoxiang Film, and Xi'an Film—had cooperated with Wu Yuchen and received his investments. Now, Wu Yuchen's reputation for being righteous and generous had spread far and wide.

Who would dare block such a big director who had both solid strength and knew how to handle people?!

And in terms of the work itself, *Don't Fool Around* had extremely high artistic value, winning the Golden Bear and Best Actress at Berlin. Awarding it was well-deserved, which was within many people's expectations.

Therefore, Han Sanping's words were a clear hint: he was going there this year to receive the award, so he should arrange his time accordingly.

This made Wu Yuchen feel a bit embarrassed. Did this count as a backroom deal?

On the streets of Beijing in September, people came and went. Although autumn had arrived, the sun was still a bit hot. However, a refined young man in a suit and glasses felt cold inside.

He had run from Shenzhen to Beijing specifically to find his former idol for investment, but he had been mocked to his face until he couldn't even keep his composure.

"This thing of yours, I could find a few college students to do better than you in less than 3 months. It's simply not worth 500,000!"

Ma Huateng felt his tie was a bit tight, so he pulled it off and sighed heavily. He took off his glasses to wipe the sweat from his forehead, looking exhausted.

He and a few others had pooled 500,000 to found a chat software platform called QICQ, modeled after the popular foreign ICQ. Over the past few months, the number of users had been increasing, and now the servers couldn't handle the massive amount of data. But the company couldn't make money; there were absolutely no profit channels or methods. Now, the company couldn't even pay next month's salaries; this month's money had been covered by them personally.

Helpless, he wanted to sell the software. But after running around all this way, he had found many people, and none were willing to buy it. He wanted to sell it for 1 million, but just now, Zhang Sohu wasn't even willing to give half, and had belittled it as worthless.

However, he hadn't come away empty-handed. Among those he visited, some kindly pointed him toward trying venture capital, which gave him a preliminary concept of what VC was. He planned to find ways to inquire about it as soon as he returned to Shenzhen.

Just as he was planning to go to the train station, the phone in his pocket rang...

Miracle Film, Wu Yuchen looked at the refined and thin young man in front of him. His neat suit and tie made him look quite formal; he seemed to take this meeting very seriously.

Wu Yuchen raised his hand and said with a smile: "Don't be formal, have some tea. Let's chat while we drink."

Ma Huateng smiled shyly: "Wu Dao, I really like the films you make. I've seen every one of them. I went to the cinema to see *My Sassy Girl* more than once~"

Wu Yuchen was amused and couldn't help but ask curiously: "Oh? Did you go with your girlfriend? You weren't cursing me in your heart, were you!"

Ma Huateng quickly waved his hand to explain: "No, no, I don't have a girlfriend yet, I'm single! Your films are so well-made, why would I curse you!"

Wu Yuchen laughed: "I heard that after my film was released, some male compatriots suffered a bit. I was afraid you might be one of the victims!"

Ma Huateng wasn't very eloquent, so he just smiled upon hearing this.

Wu Yuchen didn't mind, knowing this was a typical personality for an engineering guy, so he smiled and said:

"It's really fate this time. I didn't expect you to be in Beijing. I thought you were in Shenzhen. I only found out you weren't there after contacting your company, but it saved me some trouble."

Ma Huateng placed his hands on his knees: "Wu Dao, I didn't expect you to contact me either. After all, you are a big director, and you're in the arts..."

"I'm a young person too! The software you developed is quite interesting; I'm quite optimistic about it. I heard you're looking everywhere to sell the company?"

Ma Huateng nodded.

Wu Yuchen took a sip of tea and asked: "How is it? Is it going smoothly?"

Ma Huateng shook his head honestly: "Not very smoothly. Wu Dao, our company staff said you wanted to buy it. May I ask, what do you want to buy it for?"

Wu Yuchen waved his hand: "Not buy, invest. I don't have the time to develop your tech company!"

Ma Huateng's heart stirred as he asked: "Are you talking about venture capital?"

Wu Yuchen nodded: "The concept of venture capital is rarely mentioned in our country now, but it's very common in Silicon Valley in the United States. Since you understand it, I won't beat around the bush: 20 million yuan for 40% equity."

Ma Huateng was immediately startled by the 20 million yuan Wu Yuchen mentioned. After all, he had only wanted to sell the software for 1 million that morning. Now, Wu Yuchen was willing to invest 20 million and only wanted 40% of the shares. Although his family background was quite good, he had never seen such a huge sum as 20 million.

Seeing Ma Huateng didn't respond, Wu Yuchen asked: "What? Do you think it's too little? Or do you want US dollars?"