The ultimate gamble of "gambler" Cai Chongxin: Betting on rookies to save Ali

Tech 2023-09-18 07:12:14 Source: Network

Cai Chongxin, the god of gambling, has returned and become the new chairman of Alibaba.Who is Cai Chongxin?Alibaba's second largest shareholder, second only to Jack Ma in terms of shares

Cai Chongxin, the god of gambling, has returned and become the new chairman of Alibaba.

Who is Cai Chongxin?

Alibaba's second largest shareholder, second only to Jack Ma in terms of shares. Ali Weier's permanent partner, and the other is Jack Ma.

Why is he the "God of Gamblers"?

Because Ali's current status in the martial arts world and the huge wealth owned by Jack Ma were both "gambled" by Cai Chongxin, known as the "man behind Jack Ma" in the martial arts world.

Why didn't Jack Ma personally take the battle and instead appoint Cai Chongxin as the chairman?

Because in the history of Alibaba's entrepreneurship, almost every critical moment was jointly decided by Jack Ma and Cai Chongxin.

Gamble 01 | As long as Jack Ma's 500 yuan, not Wall Street's 6 million yuan

Cai Chongxin's first time at the gambling table dates back to 1999. That year, just as Jack Ma founded Alibaba, he was already at the end of his tether. His entrepreneurial capital of 500000 yuan was almost exhausted, and he couldn't even pay a salary of 500 yuan.

Cai Chongxin and Ma Yun were sailing on the West Lake, originally just chatting, but suddenly Cai Chongxin said, 'I can join you and start a business together.'.

Ma Yun was startled and the boat almost capsized.

At that time, Cai Chongxin was a senior executive at a foreign investment bank, earning an annual salary of 700000 US dollars, which was equivalent to nearly 6 million RMB at the exchange rate at that time.

Jack Ma is very confused: I can't afford your salary, we only have a monthly salary of 500 yuan here.

Cai Chongxin is crisp and agile, 500 yuan is 500 yuan, I can do it.

In this way, Cai Chongxin joined Alibaba at its inception,

This is the first battle of his "gambling god" career, with a bet of 6 million yuan in annual salary and a bright future on Wall Street.

This game is big enough, isn't it? However, the courage of the 'God of Gamblers' is beyond your imagination.

Gamble 02 | No $40 million, only take 20 million

The year 1999 at the end of the world was full of hope, as well as crazy and dangerous for Jack Ma and Ali.

After being rejected 38 times by venture capitalists, Jack Ma was almost in despair. But after Cai Chongxin joined, he simply brought in $5 million in angel investments, funded by top Wall Street investment bank Goldman Sachs and his former employer, InvestorAB.

With the endorsement of Goldman Sachs, Cai Chongxin's operation was as fierce as a tiger, attracting the interest of Japanese Sun Zhengyi.

Cai Chongxin and Ma Yunyuan went to Dongyang and chatted for a few minutes. Sun Zhengyi spoke up and wanted to invest $40 million in Alibaba. No one expected this number, Jack Ma's DNA had moved,

Unexpectedly, Cai Chongxin directly said "NO", which scared Jack Ma and stunned Sun Zhengyi.

Sun Zhengyi didn't give up, what he couldn't get was always stirring up, and he offered a more tempting quotation.

Cai Chongxin refused again, SayNoagain,

What is he gambling on?

He wants to take Sun Zhengyi's money, but he cannot lose control of Ali.

The bet is Alibaba's future. If you lose the bet, Ali will probably go bankrupt a year later, because the Internet foam is about to burst.

Cai Chongxin remained calm and said to the stunned Sun Zhengyi, '20 million, 30% of the shares are controlled by Alibaba's partners. If this condition is not met, we will leave.'.

I didn't forget to say 'sorry', and the gambling god also knows how to be polite. I know this condition is a bit difficult for Sun Zhengyi.

Sun Zhengyi, who had already been pinched by him, obediently agreed to all the conditions. This time in Japan, Cai Chongxin won the bet again.

A few years later, Jack Ma wants to do C2C, but the entire company opposes it. Everyone thinks it's too risky, which is a joke about the company's future. Only Cai Chongxin supported and directly raised $89 million in financing to help Jack Ma establish Taobao and compete with eBay.

In the glorious life of the God of Gambling, this can only be considered as a small gamble of pleasure.

Cai Chongxin won the bet thoroughly, helping Alibaba create the largest IPO in American history, helping Jack Ma become the richest man in China, and his own wealth is also several billion dollars.

He gradually faded out of Alibaba's management and bought an NBA team with a bet of $2.35 billion. In the end, it may not be considered a success, but it cannot be considered a failure, and it can also be considered the first small setback in the career of a gambling god.

Gamble 03 | This bet is Jack Ma's fate

Now, he's back, back at Ali, and once again at the gambling table. This time, the bet was a bit high.

Betting is his lifelong reputation, his future with Jack Ma, the fate of Alibaba's 200000 employees, and even the livelihood of millions of people in the Alibaba industry chain.

Ali is not what it used to be. There are many in the past and Tiktok in the future. Its market share has declined again and again, and its position in the Jianghu is precarious.

There is nothing to be afraid of, as soon as Cai Chongxin arrives, he will do a big job.

Cainiao, Jack Ma's last business dream, a dream that even Jack Ma dare not dream of. The gambling god said I will help you achieve it, look at me.

Ten years ago, Cainiao was born and announced that it would never engage in self operated logistics. Because the mode is too heavy, Jack Ma is afraid that Ali will also be dragged down.

Ten years later, Cai Chongxin's first success as a new official was to burn down Ma Yun's promise: rookies should do their own logistics, not just platforms.

Not only do we need to do it, but we also need to make it big and special.

SF Express and JD have them, as well as Cainiao. Delivery to your doorstep, worry free return, must be done!

SF Express and JD.com don't have it, so do Cainiao. What is the next day delivery and the same day delivery? If you want to do it, do it in half a day.

The God of Gamblers still doesn't think playing big enough, just focusing on China is not enough. In the global market, novices need to eat it and deliver China's excellent logistics capabilities to the world, with a maximum of 5 working days, to every corner of the world. He said this is the mission of the rookie.

The God of Gamblers really played a bit high, but did you overdo it this time?

Cai Chongxin, the god of gambling, never gambles.

His principle of action is only one: there is a lower limit to losses and no upper limit to returns.

In 1999, he gave up his high salary in an investment bank and said that the loss was only a certain number. Once Alibaba succeeds, his earnings have no limit, and he can no longer go to Wall Street to find a high paying job.

Later, in negotiations with Sun Zhengyi, maintaining absolute control over Ali was the lower limit, and the upper limit was how much Japanese money could be obtained. Without the lower limit, there is no need to compete for the upper limit.

Later on, when I bought an NBA team, in the era of the US dollar flood, I had a constantly increasing number of teams and stadiums, which was the lower limit. As for the $90 million luxury tax, forming the Big Three to compete for the championship, it's just a battle for reputation.

What about this time? The rookie's big move?

What is the lower limit and what is the upper limit?

Ali's current situation is precarious. JD has a genuine mind and a reputation for after-sales service. Pinduoduo has a low price mentality and a reputation for after-sales service.

What else is there on Taobao? For consumers, Taobao seems to have nothing left.

So what is the lower limit? Ali can now say that there is no lower limit. If there is no change, wait for death.

But at least so far, Alibaba is still the industry leader, with the highest GMV, the largest order volume, over 500 billion in cash and short-term investments, and the largest number of high consumption users, yet it has not lost its stickiness to Taobao.

Cai Chongxin decided to use these resources to train the best intelligent logistics system. Using resources to train a smart system is the way of thinking in AI learning.

Cai Chongxin is gambling on a future. In this future, high-quality goods produced by the Chinese people need a distributed, low-cost, and intelligent logistics system to carry these flows worldwide.

Interestingly, in this future, Alibaba and its competitors are working together: Alibaba's own LAZADA and AliExpress, Pinduoduo's Temu, and giant Shein from Guangzhou.

If one day Temu can truly make ordinary people around the world "shoplikeaBillionaire," Pinduoduo should be most grateful to Alibaba.

How could ordinary people in Uganda and Venezuela go shopping like billionaires without a global smart logistics system that covers newcomers?

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