~： Readers of this book must read it.

I accidentally saw the chapter review of Chapter 48, and found that some readers did not understand or misunderstand Bluestar's financing and equity structure.

I may have more than one or two readers, so Zhao Ling thought about it and opened a single chapter to explain it.

But before talking about this, borrow this single chapter to talk about the theme of this book, and finish everything you want to say. Try not to open a single chapter in the future.

The core theme of the "Global Monopoly of Science and Technology" is [Business + Science and Technology]. In the early stage, it is more commercial and entrepreneurial. The main character is set to come in 2003. There is nothing. If you want to play high technology, you have to save money. It is difficult to make a breakthrough in large-scale investment in technology research and development, because the main character has not obtained the system dad or the like, only a future super genius came to 2003.

If you want to watch the protagonist come out with a 7-nanometer chip in 2003 and hang on plots like Intel and IBM, this book will not have such content, but this is 2003.

Therefore, this book will be more realistic. In this era, the protagonist is leading the technology and business model of this era by about 5 years with his advanced vision and his own genius and wisdom. In this age where the ingredients will not be too far from reality, it will be more reasonable.

For example, protagonist financing, in addition to starting from scratch, is also for the purpose of globalization. If you want to enter the North American market and bind Wall Street through financing, social networking sites such as Blue Space can smoothly enter the local market. If in real life, blue websites It is difficult for a social network such as Space to enter the North American market. Even if there is a "ground snake" like Wall Street, it is not impossible to write it in the novel more reasonably, but it may not be reviewed, so Zhao Ling can only Write the most reasonable within the allowed rules.

But then again, after all, this novel is a fictional story, and it must be higher than life, otherwise there will be no dramatic tension and it will become a memoir. I think readers also recognize it, just like Qin Weimu. Roles.

Under normal circumstances, Twenty-two-year-old Qin Weimu may not be graduated from graduate school, but she is a top lawyer who is proficient in legal affairs and a lawyer who is involved in foreign legal affairs. In reality, such a person is even There is also a very low probability, so there is the word genius. Since there is a very low probability in reality, of course, it can appear in the novel. If you just want to raise the bar, Zhao Ling can only laugh at the duck ... o (╥﹏╥) o

And want to stand up the role of Qin Weimu, the means in the text is to stand up the characteristics of this beauty lawyer through her professionalism in legal affairs and help to the protagonist. Although the protagonist came through, but the design of the previous life He must not be a person who focuses on legal affairs. He understands it a bit, but he is definitely not as professional as a professional, and a company must understand the law. Otherwise, a loophole in details may cause huge control risks. Therefore, the role of Qin Weimu's role It is reflected.

Uh ...

European target K, reverting to the legendary financing issues and bluestar technology equity control issues mentioned earlier.

First of all, the issue of financing. Generally, first of all, you must make a valuation of the company. There are two methods: pre-financing valuation and post-financing valuation. The former is good for VC because it needs to transfer more equity, and the latter is good for entrepreneurial teams. Transferring less equity, a good project in reality, the founder is not stupid will choose the form of financing later.

的 The difference between the two is that the money raised by the former VC financing will not be diluted, and the latter will be partially diluted.

Take the book as an example, according to the valuation of 5 billion before financing, 600 million after financing 600 million valuation, the 600 million financing will not be diluted, and if the valuation after financing, VC newly invested money will also If it is diluted, the transferred equity will definitely be less. Therefore, if the founders are strong in the financing case in reality, most of them will be carried out according to the latter scheme.

There should be no doubt about this issue, as for the weighted average anti-dilution clause and so on, I won't say much.

Let's talk about the shareholding structure. How does the protagonist control the company's control during the round of dilution of shareholding.

Unclear readers can go back and read the contents of "Chapter 3" and "Chapter 35". Here is a brief explanation for the lazy cancer readers.

This question uses two chapters to sort out the "AB stock system" and "three associations and one layer" to complete the control of the company. After reading these two chapters, you will know how the equity is diluted, but the protagonist always stays firm with the company. Stay in control.

First of all, the plot of Chapter 3 wrote that the top design of Bluestar Technology uses the AB share system. This is the most basic framework. The so-called AB shares are the same shares with different rights. Class B shares receive 20 voting rights. Class A shares One share and one voting right. If "Xiao Ming" is an investor in Bluestar Technology, accounting for 80% of the shares, but because it is 80% of Class A shares, Xiaoming has less than 17% of the voting rights in the shareholders' meeting.

For class B stocks, although only 20%, but voting rights have more than 80%, according to general matters, voting requires more than 51% of voting rights to be relatively controlled, and major events require more than 67% to be absolutely controlled. Xiaoming only has 17% Not only are there not enough votes to pass a motion, they are not enough to vote against a motion. 43

1140

The protagonist in the book holds about 57% of Class B equity after round A financing, and the voting right exceeds 96%. This still classifies Xu Yong and the equity reserved by the protagonist in the option pool as class A stock. Case.

The AB stock system solves the hidden danger of the protagonist's control in the shareholders' meeting. In fact, there are still loopholes. Although it is not a subversive loophole, it is still very troublesome. Blue Star Technology will go public and restructure and adjust its equity structure. If you ca n’t find the content, sell it here.

The last is the "three meetings and one layer" control. This is described briefly in Chapter 35. This chapter originally had more than 5,000 words. It is described in detail, but it was found that the less "science" was reduced as much as possible. The content, if I knew it, I would not delete it, and I would not need to open this single chapter o (单 □ ╰) o.

Equity is actually very complicated, and it will become more and more complicated in the future. Especially after listing, some tradable shares are constantly changing hands. You can't even figure out what the identity of a shareholder is and the various cross-shareholdings behind it.

Then “three meetings and one floor” are the core management of the company's highest authority body shareholders meeting, the highest decision-making body board, the highest supervisory body supervisory board, and the highest executive body.

The shareholder meeting cannot directly manage the company, so even if you are the largest shareholder, you can't even fire the cleaners without serving in the company. If the manager sees you, you might give you a clean face cleaner.

The shareholders' meeting then authorizes the management of the board of directors, and the board of directors makes a decision on a motion and then delegates it to the executive layer to execute, that is, the senior management layer, and any mess of CEOs, CFOs, etc.

Finally, the board of supervisors has the power to supervise the board of directors and executives. It has the right to check accounts. It can introduce third-party audit institutions to verify accounts. It can make corrections and warnings to the company's management. , Such as voting on the removal of the chairman.

Is the company's "three meetings and one floor" much like a smaller version of the state agency? Correspondence is like the National People's Congress, Changwei, Jijian, and the National Institute.

怎么 How does the protagonist control the company comprehensively through the "three meetings and one floor"? The plot has been resolved to the present, and Qin Weimu has also played her role in it.

Control the board of directors through the AB share system and one vote of veto power; control the board of directors through the right to nominate more than half of the directors' seats; own the main seats of the board of supervisors (the executives cannot serve on the board of supervisors, but can be held by other people within the company) Needless to say the core layer, the protagonist is now at the helm, as long as he controls the board of directors, the executive at the executive layer can be fired at any time.

If the protagonist is the general manager of Blue Star Technology, that is, the general manager, the CEO or the president is not legal according to the definition of the "Company Law".

The power of the general manager is greater than that of the CEO, but it is different in foreign countries. The chief executive of foreign executives is the CEO, so in order to better deal with foreigners, the CEO is also used, because a CEO of a foreigner heard that he met the general manager. Manager, he will think that the person you send is not equal to his level, it is a kind of contempt, and may refuse to talk to you about business issues.

So now in reality is the CEO of Montreal,

So, readers should have no doubts about combing this simple.

Although the protagonist's equity is diluted in the financing process again and again, he still maintains absolute control of the company through the treatment of "three meetings and one layer", as the protagonist said in the text, I don't know, remember, that is, the world Not completely mine, but completely mine.

There may be a problem of dividends ~ www.novelhall.com ~ In fact, if the protagonist is greedy, the shareholders will not be able to share much dividends, because the management does not pay dividends, the protagonist has the final say.

For example, the protagonist decides on the board of directors that for the company's development, there will be no dividends this year. As a shareholder, he can only stare. However, the "Company Law" stipulates that the company must compulsively pay dividends for five consecutive years of profit.

The protagonist said yes, no problem, then share it once. In the past five years, the total net profit was 5 billion yuan. This time, 500,000 yuan will be paid out. If you are a shareholder, you will be angry 2333.

虽然 Although the "Company Law" stipulates that dividends must be paid for five consecutive years, it does not stipulate how much they must be divided, so it means 500,000. It is estimated that if the shareholders know that the net profit is 5 billion, it is irritating than dividends.

In reality, for example, Apple Corp. has more than $ 200 billion in cash reserves and has not paid dividends for more than a decade.

Not only that, most of the listed giants do not pay dividends. Apple does not pay dividends, but his shareholders make money. As long as the stock is rising, shareholders will not care about dividends. Dividends are small profits, and dividends based on share ratios are small shareholders. The income is very low, but the stock price doubles or even doubles, for example, selling a little cash is the most appreciable, so everyone likes stock trading.

I've got so much. I don't know how many people take it seriously. You can deduct 1 if you see it here.

Let ’s just say this. Popular science-based content is sometimes very disgusting and even disgusting. Zhao Ling does not have any qualifications and rights to impose some principles on the readers, so I will post any complaints here. I will not open a similar single chapter explanation, and continue to update the text.

But there is one thing, even if it is hated and disgusted, you must shout cheekily ... rolling all over the floor for recommendation tickets, collections, investment rewards ~~~

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