“Big boy” liu qing, liu tsinghua university lecture complete transcript

cloud network hunting contributing authors: ming-wei sun (weibo @ ming-wei sun Mark WeChat: suntalkmedia)

“I have seen all entrepreneurial success, almost had been in the lessons of failure. If you have seen, so congratulations you.”

– liu

introduction: at 7 o ‘clock on Saturday night, jingdong mall CEO liu at tsinghua university, “leadership” entrepreneurial innovation forum, with hundreds of students talk about their own entrepreneurial story. When it comes to their parents, he emerged in the throat choked several times to faint. From the poor memory of childhood, the life dream of high school, to the college of business to show, to later zhongguancun venture, this essay (content from the site record) will show you a more realistic liu, a “big boy” entrepreneurial story.

bitter childhood, youth, youth

in 1974, liu was born in a rural families in jiangsu suqian. Memories of his childhood, liu is described this way: “when I was a child, family is very poor. Memory is the deepest and grandma to buy meat, will bring some peanuts. Why take peanuts? Just to buy meat to SCM, to cut meat, hope he can cut more when cutting fat.”

after graduating from primary school, liu’s only five students in class of middle school in the town. Because at that time the town middle school student enrollment is limited, each class only five people. The other students are all at home when the farmers.

liu mathematics and physics performance of secondary school is outstanding. But a teacher’s expectations, affected and changed the life of liu. When the teacher is a wish, hope their students will go to officials, by officials to change society, improve the lives of ordinary people. Under the stimulus of the teacher, liu’s science class students in the university entrance exam volunteer when almost all chose the liberal arts. Liu with honors in 1992 and was admitted to the people’s university sociology department.

university of passion burning years

was admitted to the people’s university, should and liu career dream more and more close, a thing, but then changed his mind, also changed his life. Because the party, at the time of his view certain thing by other classmates instead, frustrated and helpless when he vowed to give up career, must be going through their own efforts to entrepreneurship, control their own life.

since freshman year, in order to don’t ask, don’t have a penny in the home, liu has sold, worked as a tutor, help school teacher clean the office and computer room. School teacher didn’t give money, and liu is in order to use the school computer at free time. Is it time to start, liu had taught himself programming.

in the mid – ninety – s, Beijing’s lack of computer programming, a strong social demand through liu gang programming to earn the life first bucket of gold. Three periods of liu was a “student business tycoon” in the campus.

in order to obtain a bigger development, also in reading liu with 270000 yuan price set down the east gate of National People’s Congress of a restaurant, ready to go for. Young liu, although improved the employee’s treatment, also change the restaurant equipment, but caused by a lack of experience, and are not dedicated management, restaurant operating loss serious, not only to make money, to sell tens of thousands of dollars per month. Less than a year of business, make liu lost all three earned money by programming, also forced to borrowed 100000 yuan from parents and relatives. Fill in the final, please after the payment of the supplier and employee wages, liu decided to farewell and restaurants.

zhongguancun venture links

in June 1998, liu jingdong company based in zhongguancun, acting sales of light magnetic products, and in just two years to become the country’s most influential magneto-optical products agent. From the first day, jingdong companies do not sell fakes. It is this insist, in the 2003 SARS crisis of later to save the failing jingdong, also make liu caught the e-commerce on the high-speed train to success.

in 2001, when liu jingdong company business progresses day by day, a business war brews. When Taiwan’s most big light magnetic products manufacturers to enter the mainland market. As the leading domestic light magnetic products sales agent company of jingdong thorn in natural become a thorn in the Taiwanese. Taiwan headquarters had harsh words, similar products, jingdong sell how many money, they will be cheap, 100 yuan. With deep pockets of Taiwan manufacturers hope that through the jingdong out of the market price. In the face of fierce competitors, liu by his own counsel and wisdom to resolve the crisis. One day, jingdong company based in zhongguancun electronic rented a place on the ground floor of the promotion, nissan’s burner a price of 2399 yuan. Taiwanese companies not to be outdone also run a challenge, on the other side the same products were priced at 2299 yuan. Jingdong price 2299 yuan, the Taiwan company to 2199 yuan. Finally, jingdong marked the cost price of 1799 yuan, the other is still priced 100 yuan lower than the jingdong. Actually, jingdong stock only then more than 10 Taiwan, and Taiwan companies to beat jingdong, for the thousands of goods. These items are most of the people is jingdong bought from you. By means of this one station, although suffered tens of thousands of yuan jingdong company, the Taiwan company losses are more than 200 million yuan. Taiwan headquarters to see this situation, fired all of the management, and then pulled out of the mainland market in the near future.

those of Taiwan company less than two years after a new crisis, severe acute respiratory syndrome (SARS). Face was nearly empty of Beijing city, jingdong business of despair. Liu told the company’s accounting, when bank account 100000 dollars left, shall give you inform him, company shall be dissolved. In the time of survival, a staff put forward “why don’t sell online?” Try holding the attitude, jingdong employees in each big BBS Posting to sell products, to little effect. But after a few days, a CDS enthusiasts BBS moderator of a reply, changed the situation. Moderator then replied: “I know jingdong, this is the only a company that does not sell fake zhongguancun. Over the past three years I were bought from that of a plate.” Moderators reply, got a few net friend’s feedback. Everybody try holding the attitude, the remittance to the account of the jingdong, a few days after received the jingdong discs. So the news and a jingdong only relies on the BBS posts opens the sale of the products. Jingdong companies back from the dead.

best transformation e-commerce

experience severe acute respiratory syndrome (SARS), liu deep feeling the disadvantages of traditional retail, also saw the bright future of electronic commerce. In early 2004, liu abandoned the plan the national expansion on the surface of the chain, through, close all stores, in the past few years has accumulated more than 1000 extras will be fully into the era of electronic commerce, jingdong company officially launched the “jingdong multimedia network” (360) buy jingdong mall.

in 2007, $10 million capital injection jingdong mall for the first time today. In early 2009, jingdong mall again today, male cattle capital and investment bankers Mr Leung’s famous Asian private companies a total of $21 million in a joint capital injection. This is since the financial crisis, China’s e-commerce enterprises, the first financing also provide money for the high speed development of jingdong mall security. In January 2010, jingdong mall announced for the third round of $150 million in financing. In the same year on April 1, jingdong announced to obtain C round total 1.5 billion yuan. Completed in November 2012, jingdong announced a new round of about $400 million in financing, and valuation of more than $7.2 billion.

look from valuation, jingdong mall today has overtaken rivals gome and suning, column top 20 global Internet companies. To achieve this step, liu took just nine years time.

about jingdong mall business development and some people concern, liu also did one by one.

about 8.15 price

“any war no absolute winner, 8.15 price is the same.”

“like any war happened has its historical roots, 8.15 the outbreak of price war, is the result of many factors that set. Way at that time, gome, suning put pressure on suppliers together, don’t allow them to continue XiangJing east supply; Both the rumours of jingdong capital chain rupture, suppliers in gome, suning, and under the dual role of capital chain rupture rumor has began to suspicious, and shorten the jingdong account period. In the face of such situation, both sides need to a war. Gome, suning, hope that through the war has yet to do big jingdong nipped in its infancy; Jingdong also need to pass a war prove jingdong to suppliers is strong.”

“the price war is in 8.15 the two or three days before the decision, very soon.”

“the price war jingdong losses of more than two. Through the third quarter of 2012, suning results analysis, the suning price in 4-500 million.”

about jingdong business line

the company product mainly has three categories: 3 c electrical appliances, daily provisions and book audio and video.

2012 jingdong mall 3 c product sales of about $50 billion, e-commerce has stabilized column 3 c sales first. Home appliance product sales of about $10 billion in 2012. Liu points out that books audio and video products is jingdong mall’s defensive category, this part almost don’t make money, the author analysis came into the field of books, audio and video, is to get more traffic and customer stickiness, and secondly is the main competitors in order to hold the dangdang.)

since 2007, the logistics has been the focus of jingdong. This step later than many fellow wake up early for at least five years. Asia’s no.1 warehousing project investment focus is the jingdong mall.

liu, according to the delivery person in Beijing jingdong day delivery capacity is much higher than the average level, single parcel logistics cost is 5.3 yuan in Beijing. Jingdong the delivery person basic monthly income of more than 5000 yuan, a good income, is the key to ensure the quality of service and user experience.

about the future of e-commerce

a classmate asked for before ma and wang jianlin bet. Liu replied: “exclude real estate, catering and other non-standard products. If single from 3 c standard products, similar to the future of e-commerce more than traditional retail is certain.”

liu thinks the first ten years of electronic commerce. A new decade of competition is the core of electronic commerce technology and user experience.

liu also talked about the payment for the future. He thought that credit card and third party payment may be in the future will be mobile payment (or electronic wallet), and other new technology to replace.

the end have a classmate ask: “if there is a new company in the future or pattern can overturn jingdong today, what are the chances of breakthrough from which aspects do you think?”

liu wisdom of answer: “if the future what place can upset the jingdong, I think I should is through technology. Of course, the development of commercial society like the body’s metabolism, upgrade is necessary. If there really is that one day, the students here who can do it, I’m happy for you.”

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