Rebirth 2010: I taught Mr. Lei how to make a mobile phone

Chapter 837 251 billion, to be paid off in three years!

"Mr. Mo, Jia Yueting has started his live stream. Should we promote it?"

When Chen Mo received Zhang Yiming's call, he replied, "Push, President Jia's communication meeting should be very interesting. The survival journey of a bankrupt tech tycoon should be very much in line with netizens' gossip-loving style."

"Roger that!"

With Chen Mo's command, Douyin quickly sprang into action.

Before the communication meeting even started, the number of viewers in Jia Yueting's live broadcast room was already approaching 100,000.

At this moment, the banquet hall for the communication meeting was packed with people.

The front row was occupied by representatives of major suppliers, the middle by media reporters, and the back row was crowded with retail investors who had come after hearing the news.

The air was thick with tension and solemnity, with occasional loud curses coming from the back row.

When Jia Yueting entered the venue, the entire room fell silent for a second, followed by a flurry of flashes from cameras.

The last person to receive this kind of "treatment" was Edison Chen in 2008.

Without any staff members accompanying him, Jia Yueting, dressed in dark blue jeans, a black short-sleeved T-shirt, and sporting a buzz cut, appeared in the center of the stage holding a microphone.

At first glance, it looks like a small press conference held by LeEco.

He walked steadily to the podium, did not speak immediately, but bowed deeply for a full ten seconds.

Ten seconds of flashing lights and shouting.
"First of all, I want to apologize to all LeEco's partners, investors and employees."

As he stood up, Jia Yueting's voice was a little hoarse, but clear enough.

"I bear full responsibility for the current predicament of LeEco and the economic losses it has caused to everyone."

The audience immediately stirred.

A middle-aged man in a gray polo shirt suddenly stood up, pointed at Jia Yueting, and angrily shouted: "What good is an apology? Nearly a thousand workers in my factory are waiting for their wages! You owe us 380 million yuan in payments, and you've been dragging your feet for nine whole months!"

Jia Yueting recognized this as Mr. Zhang, the supplier of LeEco's mobile phone displays. At this time last year, the two were chatting and laughing on the golf course, with the other party addressing him as "Mr. Jia" repeatedly, as if afraid that LeEco would not patronize his business. He was incredibly enthusiastic.

“Mr. Zhang, I understand your anger.” Jia Yueting gestured for the other party to calm down. “I’ve called this meeting today to give everyone an explanation.”

"I know that this apology won't solve anything, but I need to express my stance first!"

That's me! Jia Yueting!

To be able to stand here at this moment, instead of flying far away!

They even registered a verified account on Douyin and livestreamed the entire communication meeting across the internet, which speaks volumes!

"I know you all have countless questions for me right now, but please let me finish first. I will set aside time at the end to answer them all. This time, I will definitely give you a satisfactory explanation!"

As he spoke, he pressed the remote control, and the large screen behind him lit up, displaying a clear financial balance sheet.

The screen is large enough to display a dense list of debtors, with those having more debt occupying a larger area and those having less debt appearing as small squares.

A rectangle symbolizing LeEco's debt resembles a cake divided into hundreds of pieces.

The number "251 billion" at the bottom is particularly eye-catching.

When this figure was revealed, it caused a stir among the audience; no one had expected that LeEco's current debt was so enormous.

"As everyone can see, as of last week, after I used all my personal assets to pay off debts, LeEco's total liabilities were still approximately 251 billion yuan, including payments to suppliers, loans from financial institutions, and bonds..."

Jia Yueting paused for a moment, then continued, "In fact, according to normal business logic, when a company of LeEco's size experiences a financial crisis, the boss will have many ways to avoid debt."

As you all know, I have an accounting background, I know how to do bookkeeping, and I'm quite proficient in these things.

At worst, the company will go bankrupt and be liquidated. Besides, they are all limited liability companies, and I'm not the legal representative, so the impact on me isn't as big as people think...

If I were to be shameless and act like other capitalists, the debt I should actually repay wouldn't be much, only..."

Jia Yueting pressed a button on the remote control, and the number "14 billion" appeared to the right of "251 billion" on the screen.

The room erupted in discussion again, as they hadn't expected to be able to avoid eight or nine out of ten debts.

"I don't even need to run away as the media speculated. I've repaid the 14 billion, and I can still thrive in China."

“But, since I’m standing here,” Jia Yueting’s voice became firm.
In front of all the creditor representatives present
All viewers of this live stream can be a witness!

I, Jia Yueting, solemnly promise: I will shoulder all of this 251 billion yuan debt.

The venue instantly erupted in chaos.

All the media thought he had gone mad, and reporters frantically pressed the shutter.

The suppliers whispered among themselves, but their gazes toward Jia Yueting changed—he clearly had a shortcut to 14 billion yuan, yet he chose to take on all the debts!

The supplier who had previously confronted Jia Yueting nodded in agreement. When they beat him up that day, this guy neither called the police nor complained of pain; he just silently endured it. He's a real man!
Several retail investors in the back row stood up excitedly.

As the communication meeting progressed, Jia Yueting's follower count grew at an astonishing rate.

Everyone wants to see how this bankrupt internet giant will make a comeback.

In the live stream, countless netizens were captivated by this tragic hero persona of a tech tycoon. "Holy crap! 251 billion! I could never pay that back in eight lifetimes!"

"You're overthinking it. It's not like you can pay off 14 billion."

"Jackson, a real man, a pure man!"

"I'm getting more and more curious now, how are they going to pay back these billions?"

"Is this just a feint before they run away anyway?"

"I believe Mr. Jia is fine. If LeEco had been able to take a steady and solid approach before, it would already be a small success story. It's such a pity."

"LeEco's ultimate vision was to be a combination of Beyond and Xiaomi, but unexpectedly, it has now been completely divided up by Beyond and Xiaomi."

"Well, for LeEco, this is a relatively good outcome; otherwise, all those employees would have been laid off."

"Quiet down, quiet down, Mr. Jia is about to announce his debt repayment plan."

"Next, I will explain the repayment plan for this 251 billion RMB, which will last for three years!"

As soon as Jia Yueting finished speaking, some controversy arose from the audience.

If he said more than ten years, people might think it's plausible, but three years?

It's simply unbelievable that Jia Yueting, who is now almost penniless, would have to repay more than 80 billion yuan every year.

"I understand that it's hard for everyone to understand," Jia Yueting said calmly.

"Next, I will choose the live-streaming e-commerce track."

In the first year, I will establish an MCN (Multi-Channel Network) to promote products via live-streaming as a live-streaming e-commerce host, leveraging traffic to drive sales, with a target of 50 billion yuan.

Before he could finish speaking, he was interrupted by questions from the audience:

"Live-streaming e-commerce? Do you think we're fools!"

"That's right. Even the top online influencers can only sell hundreds of millions of products, but they only get tens of millions in return."

"If you pay back 5 billion a year, your annual sales must be at least 50 billion, how is that possible!"

"Wake up, you no longer have LeEco."

"This is not an ordinary live-streaming sales event!" Jia Yueting said, taking a step forward and reaching the edge of the stage, his eyes blazing with a familiar fire.

"Don't forget, everyone, the reason I can get Sun Hongbin to willingly part with 150 billion yuan and get star directors to chase after me to invest money is never because of luck."

Think back to when you were all scrambling to invest in LeEco.
Your factory's resumption of production and your payment collection both depend on my upcoming entrepreneurial venture.

What we need to do now is not to question, but to believe and encourage!

When Jia Yueting said that, the audience fell silent instantly. After thinking about it, everyone realized that it was indeed true.

"In the second year, I will build a complete industrial chain for live-streaming e-commerce, from MCN agencies to the supply chain system, connecting upstream and downstream to increase profit margins, with a target of repaying 80 billion yuan."

In the third year, we will open up cross-border e-commerce channels and promote high-quality domestic supply chains overseas, with a target of 120 billion yuan.

Jia Yueting's voice suddenly rose, "At that time, before each Douyin broadcast, I will live stream the entire debt settlement process, and the transaction details of each repayment will be made public."

The profits of MCN agencies will be used primarily to repay debts; the added value generated by the supply chain will be distributed to creditors in proportion to their debts.

Simply put, you are both my creditors and my partners.

He pointed to the small print in the corner of the big screen: "This is my personal account. Starting today, I, Jia Yueting, will conduct a repayment plan that is unprecedented in the history of China, broadcast live across the entire internet, and will be subject to the supervision of the entire internet."

The audience gradually quieted down; some people were doing calculations, while others took out their phones to photograph the terms on the screen.

Jia Yueting picked up the microphone, his tone calm yet carrying immense power: "I know everyone is afraid of being fooled, but this time I've laid out all my sincerity here, under the spotlight."

Back then, I was able to build LeEco from nothing into a company with a market value of hundreds of billions. Three years later, I can wipe out this 251 billion debt.

I expect to launch my first live-streaming sales event in three months. I will then report on my progress on Douyin every week, letting everyone know what I am doing now and what I will do next!
This time, I'm using live streaming—a new business model—to solve everything with a man's attitude!

At this point, apart from the occasional flash of the camera, everyone in the room fell silent, and even the jeers from the back row temporarily ceased.

Jia Yueting, who has a deep understanding of human nature, knew that everyone should have accepted his proposal, but he still added an extra layer of protection:
"As for why I chose the live-streaming e-commerce track, it was a direction I determined three days ago after a detailed discussion with Mr. Chen Mo, Chairman of the B&A Group."

Two days ago, I signed a three-year cooperation agreement with Yiming, the CEO of ByteDance.

In the future, I will appear before everyone as a Douyin (TikTok) live-streaming e-commerce host.

Currently, the sales volume of live-streaming e-commerce is still in the hundreds of millions of yuan range. I think this scale is not suitable for the booming e-commerce industry. I predict that live-streaming e-commerce will usher in a period of explosive growth in the next year or two.

The revenue of top livestreamers will exceed one billion or even tens of billions of yuan; this is not a pipe dream.

If that's really possible, why can't that person be me, Jia Yueting?

I have this confidence, and I ask you all to have that confidence too!

(End of this chapter)