Lao Xiao is a wage earner, who has just retired and is somewhat laid back. He has nearly 6, deposits in his passbook, which he has saved by working hard all his life. With the rising prices, he feels that the value of deposits is decreasing day by day, and he is always thinking about how to increase the value of these deposits. He also went to the bank to inquire about a lot of financial management, and found that the interest on financial management was very low. After one year, the interest earned could not keep up with the depreciation of the RMB. For this reason, Lao Xiao was somewhat depressed.
One day, an old friend introduced him to a friend who is good at financial management. This person is really amazing. From the perspective of economic leverage theory, Lao Xiao was fascinated and even began to worship him. In the end, he listened to what the friend who is good at financial management said, and he simply listened to everything.
financial friends also introduced him to buy several financial products of enterprises, and they all made money, but they bought less and earned less. One day, this friend, who is good at financial management, recommended the project products of an investment company to him. Lao Xiao followed this friend to visit the company several times. He felt that the company was strong, and it was recommended by his most trusted financial friend. He took out all the 6, yuan in the bank at once and invested it. According to the company's promise, he got a lot of rebates every day. After one year, the money could generate more than 3, yuan in interest, and then he could become more than 9, yuan. Where to find such a good investment project, old Xiang Xiao. After buying, Lao Xiao can receive the company's cost rebate every day, and his heart is flattered.
However, less than half a year after this euphoria, ominous news came: the chairman of the company and other senior leaders were arrested and the company closed down; He immediately ran to the company and found that the news was true. The company's door was closed, and the notice of public security seizure posted on the door was very eye-catching. He almost collapsed to the ground. He roughly calculated in his mind that his investment of more than 6, yuan returned less than 2, yuan, and more than 4, yuan hit Shui Piao in this way.
Lao Xiao's experience reflects the chaos of China's private investment. There are many people who have the same experience as Lao Xiao. Most of them have some spare money around them, but the constant depreciation of money makes them try their best to find good projects to make profits. There are too many swindlers and traps in the private investment market, and they usually lack the insight into the fraud in the investment market. Therefore, waiting for them is often a "big net" with their mouths exposed.
there is no unified definition of the so-called non-governmental investment in economics. The relatively mainstream definition in economics is that non-governmental investment classifies investment according to the nature of the investor's source of funds in the composition of the total capital of investment projects.
the concept of non-governmental investment originated from the fact that the unified situation of public ownership economy was gradually broken and other sectors of ownership economy developed rapidly in China's economic system transition, which can be intuitively understood as "investment from non-governmental" from the semantic point of view. Compared with state-owned investment and foreign investment, it belongs to the concept division of investment source or investment subject, but in essence it is a category with profound institutional connotation. Private investment comes from all kinds of subjects covered by the private economy, including individual investment (individual productive investment and residential investment, business investment of individual industrial and commercial households in urban and rural areas), private enterprise investment, joint-stock enterprise investment controlled by private capital and collective enterprise investment.
Private investment should have many platforms and channels. If the country has many formal investment channels, private investment will naturally have its place. However, in recent years, there are fewer and fewer investment platforms in the country, and ordinary people don't know it. At this time, many B2B companies came into being. They not only have a very beautiful scientific name: B2B, but also the promise of return on investment is very attractive, not only far higher than the wealth management products in banks, but also the proportion of return on investment every day. The temptation to return to the capital in one year or even half a year is too great. A large number of private funds are flooding into these companies, and these companies are like a huge sponge with very strong adsorption capacity, and all the private funds coming in are absorbed. For these enterprises, it should be a blessing, because in terms of bank loans, private enterprises can't compete with public enterprises, and private funds should be their "lucky water". With the help of private funds, these enterprises, which are often short of funds, should be able to have unlimited vitality. Enterprises have made money and private investors have also received considerable return on investment, and both of them are happy.
However, when it comes to B2B, everyone will express strong emotions: indignant, painful, hard-working, or lucky not to vote ... In short, private investors hate companies like B2B as much as they love them. In recent years, the news with the highest occurrence rate in the media is B2B thunder, which is like a mine in an objective sense. It just exploded here and exploded there, one after another. According to incomplete statistics, there were more than 5, large and small B2B thunders in 218. In the past 219, although the number of B2B thunders did not increase compared with the previous year, the volume was large.
why do these B2B companies go bankrupt one after another? There are many reasons for their mine explosion, such as radical expansion in the cold winter, failure to explore a clear profit model when the outlet stopped, poor internal management and strategic decision-making mistakes. It can be said that the leader of an enterprise is a general on the battlefield, and an important decision on an enterprise project is equivalent to a major decision on the battlefield, which can decide life and death. As far as entrepreneurs can see the past, they can see the future. Here are a few examples of "thunderbolt":
Jijixian Company, which thunderbolt in December 219. The reason behind the crisis of Jijixian is that the fresh food industry has not yet explored a clear profit model. Fresh food business has low gross profit and high loss. Only by rapidly expanding the scale and greatly reducing the cost can enterprises achieve profitability. However, the non-standardization and localization characteristics of the fresh food industry are very obvious, which means that the scale is very difficult, and the funds can't play an absolute role. Moreover, although subsidies are paid for high-frequency purchases, most of the purchases are made in bonus hunter, and users are not well retained. As soon as the price goes up, they all run away. If you want to scale up and it is difficult to scale up, fresh e-commerce companies can only explore while burning money. This leads enterprises to be extremely dependent on capital. Once financing fails to keep up, it is difficult to protect themselves, and finally they can only "explode".
? Storm Video is a very influential company, which "thundered" in May 219. In 215, Storm Group landed on the Growth Enterprise Market and pulled out 36 daily limit boards in 4 days, with a market value exceeding 4.8 billion yuan. However, the listing myth of Storm Group is more hype. As a product of the PC era, the storm platform lacks high-quality content, and the mobile era has not explored "tickets", which cannot support the high market value of the storm. In July, after Feng Xin, the chairman of the board of directors, was suspected of economic crimes being controlled, the bad news of Storm Group continued. First, the financial report showed that the assets were negative, and then all the executives left, and the company faced the risk of delisting. Under the leadership of Feng Xin, from 4 billion "Little LeTV" to today's riddled with holes, the storm went further and further on the wrong road and finally had to withdraw from the market.
? Love me, love my house, is a banner of the housing agency industry. In January 219, it exploded, and the strategy of occupying market share with high subsidies failed. Stimulated by capital, Aiwujiwu quickly achieved a total turnover of 4 billion yuan. Unfortunately, it is difficult for the "subsidy" method to produce substantial scale effect in the low-frequency and non-standard real estate trading market. In 216, the market share of Aiwuji House in Shanghai, which had no money to burn, dropped rapidly from 28% at its peak to 1.5%. In 219, the lingering Aiwuji House completely closed down. At the beginning, love me, love my house and chain home got similar financing, but the former was all used in the subsidy war, while the chain home was all used in buying stores, which almost decided their life and death.
in the past, whether it was the surge of hot money in the capital market or the bubble caused by To BAT's entrepreneurship, many enterprises undoubtedly ignored the importance of building a development foundation. The consequence of blindly expanding the scale was that enterprises had poor ability to resist risks. The "thunderbolt" enterprises mentioned above are all caused by "blind expansion" or their poor ability to resist risks. They do not do much harm to social investors or private investors except for venture capital companies or corporate investors themselves and their confidence in the industry market.
There is a company that illegally attracts money or illegally sells pyramid schemes or both, which is also the notorious B2B. The company's thunder is not due to investment mistakes or "too long front", and their sources of funds seem to have little to do with regular venture capital companies, but deliberately; From the beginning of their establishment, they hardly have any decent money-making projects, and some have no projects at all; Almost all the funds they absorbed came from private investors, and they used the latter investment to return to the former investment interests, and accumulated a lot of funds with the time difference between investment and slow rebate, which also formed a huge "tail". When this "tail" expanded to the limit like a balloon, there was only one result: the company leader was arrested and the company closed down. The most pitiful thing is these private investors, who are basically not rich. Although hundreds of thousands of investments have been cheated, they have all accumulated money for a lifetime. Their only hope is to earn more income than banks through investment. Some people invest millions of dollars, which are generally not their own money, and some are pooled by a family or friends and relatives, with only one purpose: to make money. When not only did they not make money, but their capital was gone, their society was not guaranteed; And more people are cheated, which forms a serious social problem and adds a "shadow" to the harmonious development of society.
the famous "goodness?" The company is an out-and-out illegal fund-raising company, and almost all the tens of billions of funds come from private investors. Someone calculated an account for the company's rate of return, and found that the rate of return was as high as 1,6%. Such a high rate of return could not be achieved in any other industry except drug trafficking and bank robbery. However, private investors took a fancy to this unrealizable high rate of return and put their accumulated money into it one after another in order to get a high return. As a result, it can be imagined that the company could not fulfill its promise and had to close the door and leave, leaving many investors with tears and increasingly desperate expressions who didn't even get their capital back.
? Cloud? The company should be the leader of this industry, and its hundreds of billions of funds and hundreds of millions of people are enough to make it stand out from the crowd. On the basis of "full return", the company added the elements that MLM can blossom in all directions, which really attracted all those who have the willingness to invest. As far as we know, its members not only have relatives and friends to enter, but also have the whole family, even the whole family, which is absolutely unprecedented in the history of enterprise development in China. After an interview, a reporter made a precise calculation of its total return, and found that it would take 24 years to get 99% of the total return of the products purchased from their platform, and 1% would never be returned. However, most private investors in China lack professional knowledge, and they are often easily confused by the appearance of return, and they invest recklessly in succession ... It is understood that the provincial or regional franchisees of the company have suffered great losses, because their franchise fees are at least over one million, and the franchise fees in special regions are even over ten million. When the company explodes, they will not only suffer heavy losses, but also bear legal punishment.
it is understood that private capital is about 1 trillion yuan, which is equivalent to about 1/3 of the capital of formal financial institutions in the country. Private capital permeates all fields of China's market economy, and plays an irreplaceable role in the development of small and medium-sized enterprises, entrepreneurial enterprises, the development and utilization of new technologies, and even the growth of China's national economy.
however, over the years, China's private investment market has been mixed and chaotic, lacking market standardization, policy guidance, practical operation and comprehensive and systematic knowledge, and the inherent ideas, legal systems and financial management systems left over from China's planned economy for a long time have made the private financial market full of risks. This is not conducive to the healthy and sustainable development of private finance, and it is not conducive to the role of private investment as a mainstay in the vast tide of private economy in China.
There are many reasons for the heavy risks of private investment. In my opinion, there are mainly the following points:
First, there are too few formal investment platforms, and the interest rate is too low. Private investment needs an ideal return on investment, and a large number of private funds are blocked out. These funds should find a way to generate returns, and naturally take social enterprises with high return commitments as the main investment platforms.
The unsmooth financing channels in China have also caused private enterprises to adopt the means of high interest rates to solicit funds when the funds are getting more and more tight. In order to obtain funds, they even offer their own return conditions, which objectively pushes up the investment risks of private investors.
The dishonesty of business owners is one of the factors that cause huge risks in private investment. Many enterprises didn't plan to return in full from the beginning, let alone give investors the investment benefits. They often took advantage of the luck of getting the money and then making plans, and even used the original shares of the company as a lure to delay the "thunder" in an attempt to muddle through and pass all the risks on to investors. As everyone knows, the "thunder" buried by himself is bound to explode. When the capital chain breaks, even the gods can't stop it from exploding.
another important reason is that private investors knowingly commit crimes. They also hear the explosion of B2B in the market, and they will also have panic, but the great temptation of constantly knocking on their hearts and high returns makes them "know that there are tigers in the mountains, and they are biased towards the tiger mountain"; At the same time, B2B company's practice of making early investors make money has played a good demonstration role, which is why private investors advance wave after wave.
the sources of private investment in China are mainly endogenous. That is to say, private investors' money is earned by hard work over a long period of time. In the absence of normal capital investment channels, these investors do not have much investment expertise, and at the same time, they use the bravery and luck of Chinese-style private investment, so it is almost inevitable to "sink".