Dagger talks about NVC, Wu Changjiang has personality duality

He is serious, harsh, and even a bit arrogant. He has published the remark that "many domestic media lack professionalism and professional standards are below the pass line." He is straightforward, refusing to make a fuss, and publicly accuses the economic system and the investment environment of defects. He was one of the earliest venture capitalists in China, and he was controversial because of the investment in NVC Lighting. However, he was recognized by the industry as an amnesty. He was rumored that "only he can get someone else, no one else can fix him."

He is jealous. He is currently the CEO of Softbank Asia Information Foundation Investment Fund.

A few days ago, he appeared in the final of the third "Thousand Talents Program" Entrepreneurship Competition, delivered a keynote speech, and accepted an exclusive interview with the reporter.

For the selection of the project, Safran Asia has a strict selection criteria.

In the eyes of Zhai, making an investment is a series of procedures. For example, if it is a late-stage company, it must look at cash flow problems and profit models; while early companies generally focus on the scalability of their business models.

For entrepreneurs, it is especially important. In the many years of investment experience, an important principle he has always adhered to is the entrepreneur's character. When choosing an investment project, he will pay special attention to the company's entrepreneurial team, because he believes that "investment is investment, wealth is not much, and is directly proportional to the character. Basically, people who are not very good at heart, he may earn a little Money, but never make big money."

However, the "NVC lighting" incident can be described as a vivid lesson. With the background of studying abroad and the shackles of Western normative economic management, Wu Changjiang is scornful of all kinds of cross-line behaviors, and they often have a "gunpowder flavor". He said that contrary to the reports of many media in the past, Wu Changjiang himself had to take his family to hide overseas because he was investigated by the relevant departments. He resigned from his leadership position in NVC. The company's board of directors only issued an announcement in accordance with the legal requirements of Hong Kong listed companies.

The enthusiasm of the entrepreneurial character has always been so attached, but there has been a mistake in the judgment of NVC lighting founder Wu Changjiang. After the "NVC lighting" incident, he gave Wu Changjiang such an evaluation: "He is a person with dual personality and a very unreasonable person. The evil in human nature is very obvious in him. "He said frankly, "I didn't see it when I was investing in NVC lighting. I am more optimistic about the lighting industry. In addition, there is a relationship between him. He graduated from Northwestern University of Technology and studied aviation. He told me that he was The other two entrepreneurs came out, and I sympathized with him as a schoolmate. So we borrowed money from him. When we voted in, we realized that because the three people started a business, he gambled the company’s money. I know that I am particularly shocked in the future, I am looking for him to talk, I hope he does not gamble, the bottom line is not to use the company's money to gamble."

In the "NVC lighting" incident, the embarrassment of strictly following the contractual norms showed its emotional tenderness. I think this is a very extreme case, and I encountered it once in my 20-year investment career.

He told reporters that there are usually many conceptual differences between entrepreneurs and investors. This difference stems from the fact that the starting angles of the two are different and normal. For example, Chinese entrepreneurs are more typical of buying a good car and taking the company's money to buy a car, and buying Mercedes-Benz and BMW is not available in the United States. In the United States, the car is your own, you must buy it with your personal money, you can't buy it with the company's money. But this is a common situation in China and has developed a habit. So when we first came, there would be a big difference on this issue. However, we will compromise on the resolution of such problems, but will require approval when the company buys fixed assets. “The founder of Chinese companies, the IT field is better, but in the general field, most of them still don’t like being controlled. So it’s more common, but it’s quite rare like Wu Changjiang.”

In the "NVC lighting" incident, the public security department has officially opened a case to investigate Wu Changjiang suspected of embezzling the 600 million assets of NVC, and he has long left the NVC lighting board. For all kinds of negative comments, I laughed and said, "There will be people who are curious to ask what is going on. Now I don't need to explain it. I don't need to talk about it, and I don't need to deal with it because you live here. In the world, it is impossible for everyone to understand you and become your friend. The purpose of your life does not require everyone to agree with you."

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