In your opinion, are and LeTV dead? However, the fact is that LeTV is not only alive, but also doing well.
Recently, some netizens revealed that LeTV actually has more than 400 employees left. Now it relies on the income from film and television copyrights such as The Legend of Zhen Huan and the rental income of its own 10,000-square-meter office building. There is no involution, no 996, and no arrears. The magical days of wages and social security.
LeTV officials may be afraid that you won't believe it. Not only did they come out to confirm, "Yes, we still have more than 400 people." They also dedicated themselves to promoting a new mobile phone that was just released recently.
LeTV’s official response
How does LeTV make money today to support more than 400 people?
It must be said that Jia Yueting is quite far-sighted. In 2007, when everyone was engaging in piracy, he began to arrange film and television copyright procurement to Purchased a large number of movie and TV series rights at a bargain price. Now this part of the copyright can be said to be the most important asset of LeTV . As far as I know, LeTV owns the online copyright of more than 50,000 TV series and 4,000 movies. LeTV earns tens of millions a year just from the copyright of Legend of Zhen Huan.
Short videos are now popular. LeTV has a small team of more than ten people who specializes in running film and television clips to be played on Douyin and Toutiao. The annual income can reach more than 60 million. LeTV has hundreds of accounts on Toutiao Film and Television, with tens of millions of fans, and at least 20 accounts with one million fans. These are constantly earning dividends from copyrights.
What is a good day? The boss suddenly announced that cars would be made in the United States, and he also left behind the film and television rights, a golden job that could be easily won. As for the debt of 12.2 billion, as long as the company does not go bankrupt, it is not a problem, and it can even be used to make fun of it.
In addition to film and television copyrights, LeTV Video and LeTV TV also have membership and advertising income, in addition to TV series distribution income. In short, LeTV is living a pretty good life now.
As early as 2019, LeTV no longer advocated 996, insisting on working from nine to six, working hard, and taking care of family at the same time.
Everyone just stood and made money happily. The financial report of LeTV in 2021 shows that the company has achieved a double balance of operating profit and cash flow . After the Spring Festival in 2022, employees also received a collective salary increase.
From this point of view, Jia Yueting, who will always return to China next week, has done two things right. First, invest more when you have money. There are always one or two things that are right; second, buy a house when you have money, and buy a house when you have no money. Depends on rent.
I checked and found that the largest shareholder of LeTV is still Jia Yueting, with his shareholding ratio as high as 21.48%. Jia Yueting may be a good boss to his employees, but for those who have been harvested by him, it is simply a trap.
LeTV’s market value went from its peak of 170 billion yuan to 700 million yuan when it was delisted. Jia Yueting was like a refined sickle, cutting wherever he went.
The leeks that were cut by LeTV in those years
Jia Yueting's ability to cut leeks, if he were to be ranked second in the universe, no one would dare to be ranked first. Why do you say that? Just look at the people who have been cut off by him, from super bosses to rich celebrities, from institutions to stock investors, and from domestic to foreign countries.
In April 2015, LeTV Sports introduced A+ round investors and 7 investors including Shanghai Yunfeng New Equity Investment Center, with a total investment amount of 579 million.
In April 2016, LeTV Sports raised a total of 8 billion yuan in Series B, led by HNA, including Zhongze Culture, Anxing Assets, CICC Qianhai, Xinpai Capital, Zhongtai Securities, Sports Power , China Construction More than 20 institutions including Investment Trust and Bank of China Guangdong Finance participated.
In addition to these institutional investors, there are more than ten celebrities who have invested, including Liu Tao , Huang Xiaoming , Guo Jingming , Sun Honglei , Jia Nailiang , Zhou Xun , Wang Baoqiang , etc. The total investment amount Less than 200 million, accounting for less than 1% of the shares.
Celebrities such as Liu Tao, Sun Li, and Jia Nailiang suffered heavy losses.
Among the many celebrities who were cut off, Liu Tao suffered the most. She not only invested 10 million yuan in LeTV Pictures, but also invested 50 million yuan in LeTV Sports. A total of 60 million yuan was probably wasted.
Like Liu Tao, Deng Chao Sun Li and his wife invested 50 million yuan; Sun Honglei invested 20 million yuan; Jia Nailiang invested 10 million yuan.
But the people Jia Yueting cheated the most were ordinary shareholders. 280,000 shareholders held about 62% of the shares. If some shareholders bought LeTV stocks at the highest point in 2015 and then did not sell them until they were delisted, almost It's a waste of money.
Ordinary people can only harvest leeks downwards, but Jia Yueting is the best and can harvest across borders, which can be said to be extremely harmful and insulting. After LeTV had a capital chain problem in 2017, Jia Yueting found Sun Hongbin, a Shanxi fellow and Sunac boss, and invested 15 billion yuan in shares, saving LeTV and him. However, more than 7 billion of the 15 billion was cashed out directly into his own pocket. Sun Hongbin, who had only been the chairman of LeTV for 200 days, later covered his face and cried bitterly at the press conference, admitting that it was a failed investment. (Ah, what a painful realization.)
The first big boss Jia Yueting harvested was Shanxi fellow Sun Hongbin
After Jia Yueting fled to the United States, he did not sit idle. He established Faraday Future and devoted all his efforts to building cars. go. Be careful, another big grievance is about to appear ahead. Perhaps the boss of Evergrande Xu Jiayin also has the same dream of building a car. After being tricked by Jia Yueting into visiting the Faraday factory in the United States, he announced that he would invest in Faraday Future when he returned home. In June 2018, Evergrande invested US$800 million. Become a major shareholder.
However, in less than a month, Jia Yueting asked him for another US$700 million because the previous US$800 million had been burned. This time Xu Jiayin was not cut off for a second time, and the cooperation happily broke up. In just a few months, Jia Yueting successfully harvested Xu Jiayin's more than 5 billion yuan.
Jia Yueting’s second boss, Evergrande Xu Jiayin
From then on, Jia Yueting lived in jokes about returning to China next week. Five years have passed, LeTV is no longer the same LeTV, and Jia Yueting is still the same Jia Yueting, still living freely in the United States, continuing his dream of building cars.
Faraday Future’s stock price doubled in two days, will the dream of building a car come true?
However, Jia Yueting is like an invincible little strongman. Faraday Future has finally succeeded in the United States after many twists and turns. In July 2021, it was actually listed on NASDAQ in the United States. After going public, Faraday Future received US$1 billion in funding and can continue to inject blood into Boss Jia’s dream of building a car. I have roughly calculated that FF has spent nearly 3 billion US dollars since its establishment. I guess only Boss Jia himself knows the exact amount.
Jia Yueting's car-making dream
When Faraday Future was launched, Jia Yueting promised that the company's first model FF91 would be mass-produced in the next year. Now that July is almost halfway through, Faraday Future shows no sign of mass production. However, judging from the market performance of US stock , the market seems more willing to believe that FF91 can be mass-produced this year. Since July, Faraday Future's stock price has skyrocketed for two consecutive weeks, reaching a maximum of $6.41, which has tripled from the lowest point of $2.20.
Some people think that Faraday Future's stock price has soared because of market speculation, while others think that mass production can really be realized this year. Previously, Jia Yueting posted on WeChat Moments, "See you in FF91 next season." It seems that the company has made all preparations for mass production delivery.
But the story of Boss Jia crying wolf has been played out many times. I don’t know if the mass production of the new car can happen as scheduled this time. We might as well give Jia Yueting some more time. After all, Boss Jia has no retreat now. If he wants to realize his dream of building a car and fulfill his promise of "returning to China next week", it depends on whether this FF91 can succeed. That’s it for this issue. I am Donkey Sk, that’s what I am. Welcome to like, comment and forward. See you in the next issue.
