After Tencent adjusted its company's organizational structure in 2012, the original "General Office" increased to 16 people. In addition to the founder, they are the heads of various core business departments.

The "General Assembly" is Tencent's core decision-making meeting. It is held every two weeks, from 10 a.m. to 2 a.m. to 3 a.m.

Min Haigen returned from Song Yi in a bad mood. After waiting for 9 days, he was taken by the investment department to attend the "General Conference". He sat in the corner of the large conference room, waiting for the topics to pass first, and kept thinking about the words in his heart.

"Yijian Live has filed a lawsuit against our own and all of our staked live broadcast platforms, demanding that the PUBG be stopped. This matter is very troublesome and will affect Huya's listing process."

ceo Zhang Zhidong named: "Xiaomin, how about you talking to Song Yi?"

Min Haigen quickly stood up and reported: "Hello, everyone, I visited Song Yi at Tianxiu headquarters last Monday and proposed the condition for reconciliation: that is, both parties allow games to be communicated, but he is required to restore the equity of our Tencent company in Tianxiu and Yijian Live."

Ma Huateng sat in the main seat, pushed his glasses and asked, "What's the specific situation?"

The boss of the investment department quickly explained: "After our two sides had a breakup, Song Yi diluted the equity we obtained from our real money investment in these two companies to 1%. The equity on Yijian Live is now even more unsightly, and they are all reduced to a few hundred percent. So that kid is not a good thing, causing us great losses!"

The supervisors of Tencent’s business groups are called “evp”, that is, the executive vice president, whose responsibilities are equivalent to the CEO of each business group. At this time, a vice president knocked on the table and said dissatisfiedly: “Why is your investment department very much talking about the financing conditions?

Didn’t you say that Song Yi took the initiative to invite us to Tianxiu to invest? Tens of millions of dollars or hundreds of millions of dollars were lost? Is your investment department responsible? How did you talk to Yijian Live to force others to rebel?”

The boss of the investment department immediately felt a chill rising behind him, and he was a little confused. He really didn't expect that it was originally criticizing Yijian Live's agenda, so why did he turn to the investment and someone would hold him accountable?

The maximum financing for Internet companies is $200 million or $500 million each time. Investment departments can afford it. However, the investment department's strategy has caused Huya to be blocked from its listing, which may be a loss of $1 billion.

In addition, the valuation of Yijian Live has been raised to US$2.5 billion. If Tencent continues to follow up on the investment, there is a high probability that the equity will be increased to more than 20%. How good is this money to make?

What's more, Tencent originally held 10% of the Tianxiu short video software, but now the Tianxiu software has long been considered a killer application and a national software. Although it is still fighting with Douyin, its valuation is definitely more than US$10 billion.

This is all caused by mistakes in the investment department.

Ma Huateng did not express his opinion on whether to hold him accountable and asked Min Haigen calmly: "What are the conditions on Yijian Live?"

Min Haigen hurriedly said: "He didn't say it. He just said it would be more appropriate to ask both of us to fight again and again. He will increase his investment in the game."

Tencent’s ceo Zhang Zhidong said: “Pony, my opinion should be tough on Yijian Live! There is no such thing. We suffered a loss before, and the investment strategy was to not seek to control related companies, and just maintain influence. This is the characteristic of our Tencent system.

However, Yijian Live's pan-entertainment empire concept seriously threatens our business foundation. I will give you a few examples. First, Yijian Live has been involved in online variety shows, film and television dramas, and Tencent Video.

Second, Yijian Live's game business is a competitor. The big game of PUBG should have an impact. At that time, we and they both quoted the Korean game parties. However, they reported a high price of 450 million US dollars, and we had to withdraw.

This is not a dereliction of duty in the gaming department. No one is willing to place such a big bet on a game that is not yet mature.

Third, the Tianxiu short video software under Song Yi has now entered the social field. Although it does not pose a threat to WeChat, it is really a hidden danger. What are the competitors you encounter when you look at Facebook in the United States? There is instagram for sharing pictures and instant information whatsapp.

This short video sharing model is currently becoming popular. It may be a new breakthrough in the social field.

In addition, Tianxiu and Yijian Group have developed an instant information communication software "Yixin", which can be downloaded in software stores of major mobile phone manufacturers. It focuses on strangers' social networking. It has various information groups, which are very similar to Facebook's functions. It is also a bit similar to the contact book function of Renren.com back then.

For example: Everyone’s account of the entire Yijian Live broadcast is published on “Yixin”, and anyone can apply to add friends like relevant personnel. This is a threat.

Since you are a competitor sooner or later, it is better to do it early than to do it late!"

All the vice presidents looked at Zhang Xiaolong, who was in charge of WeChat. Because Tencent Video itself has competitors: iQiyi and Youku. So what if you have another Yijian Live? The three major video websites are all losing money for a long time. This is how to play in the film and television industry. Does Yijian Live have such strong capital?

As for the same thing, Tencent and NetEase have been competing for many years. They have been holding NetEase in their second place for many years. They all feel that this field is not a problem and are not afraid of the competition of Yijian Live.

On the contrary, the third problem about social interaction is the most serious. Because all Tencent’s businesses are based on traffic. Once the social communication volume is taken away by a new company, it is a time for Tencent to survive and die.

Who has the most say in the social field? Of course, it is Zhang Xiaolong, who founded WeChat.

Zhang Xiaolong sat lazily in his seat. He was originally wandering around the sky. Seeing everyone looking over, he gave the answer directly, "Yixin can seize part of the social field, but it cannot threaten WeChat's status. I guess the most affected is the social field of strangers, but it cannot be completely replaced.

They are actually copying Facebook’s original ideas. For example, in my first year of high school, I want to meet a female classmate in the next class or a more beautiful senior? If all the contacts in the school are moved into Yixin, this problem will be perfectly solved.

However, in junior high schools in China, strangers are not encouraged to socialize in high school. In colleges, they fall in love freely. However, domestic universities are basically public schools. I am afraid it will be difficult for the official to cooperate with Yixin?

Moreover, there is a deeper problem. We all know what is going on in China’s social interactions. Momo is an example. Schools like Yixin are all obvious, so who dares to play?

If this was the early days of the Internet, when our Q account was just developed, many netizens came to the Internet for the first time and were very curious about the Internet world. They were willing to chat online all day long and meet strangers. This demand would be great.

Now this kind of simple social needs for strangers is almost zero. Stranger social interaction has a purpose."

At this time, a deputy general manager said: "Since it has no impact on our social business, can we cooperate? The key problem now is that none of the live broadcast platforms we cultivate ourselves can do it. None of the short video software we cultivate ourselves can do it. We must maintain our influence.

We have investments in Douyu and Huya. We always have to choose one of Tianxiu and Douyin. Today’s Toutiao has a great impact on our Tencent News. Zhang Yimin also does not accept our investment."

The boss of the investment department quickly said: "We can invest in Kuaishou."

Some people expressed different opinions, "Now, the top companies in the industry are putting the first and second-largest companies in the industry, and go to choose the third-largest companies. What are the benefits for us to do this? Can we really give up the dividends in the short video field? Now who can't see this cake getting bigger and bigger, maybe a company with a market value of 50 billion US dollars can produce one."

The debate continued and finally adopted a compromise plan. This is the characteristic of Tencent’s decision-making. Ma Huateng liked to adopt a compromise plan. The decisions made by the "General Meeting" for ten years are not solved by voting, but by negotiation and consensus.

The final resolution of the General Conference was: "First, we will continue to increase our investment in the game field and not be afraid of competition. First, we must make the mobile game version of PUBG, and use our traffic to attract traffic, and finally share the cake of Yijian Live on the mobile game.

Second, the current stable development of the film and television drama business is that Yijian Live cannot challenge Tencent in the fields of film and television drama copyright, sports copyright, music copyright, and variety shows.

Third, the investment department should invest and support Kuaishou to seize the market for short videos at home and abroad.

Fourth, continue to contact and negotiate with Yijian Live. We will strive to resolve the obstacles to Huya’s listing first. Depending on the situation and the wishes of both parties, we will decide whether to compete or cooperate."

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Chapter completed!