In 2020, the sudden outbreak of the epidemic has cast a layer of frost on the already sluggish global economy. Ninety percent of enterprises have been affected by the epidemic and their performance has declined. The world is also hot and cold, and the entrepreneurs in it are not immune.

“Happy people are similar, and unfortunate people each have their own misfortunes.” We sorted out the top ten entrepreneurs who”rolled over” in 2020. Among them, it may be due to individual reasons or environmental influences. . Some entrepreneurs fell into the predicament set up by themselves, while others eventually became a grain of ashes under the wheel of the times. Many entrepreneurs could not even escape the fate of being scattered and imprisoned. Sigh. Of course, the overturn of more entrepreneurs is temporary, and they will continue to rebirth and move forward with tenacity and perseverance.

01

Stuck! Dong Mingzhu’s live broadcast debut sales was only 225,300 yuan

April 24 at 8 pm , Dong Mingzhu opened the live broadcast debut in Douyin, introducing Gree headquarters and its products to the audience, and selling goods by the way. According to statistics, on the night of Dong Mingzhu’s live broadcast of the goods, there were 4.31 million viewers on the entire network, but the sales of her goods were only 225,300 yuan. The reason is that the live broadcast room is too stuck. A well-prepared live broadcast debut, because of the live broadcast failure, the picture was extremely stuck and the car overturned. During the live broadcast for one hour, Gree’s live broadcast room had page cards and sound images repeated for nearly half of the time. The number of viewers is like a roller coaster. At its peak, 140,000 people watched, and one card dropped to 40,000. Netizens even left a message directly in the comment area,”Does Gree’s headquarters use a 3G network?”

I thought it was the king, but I didn’t expect it to be bronze. Dong Mingzhu himself said frankly that he was”very failure”, and it was natural that his debut appeared on the hot search of the day.

02

XibeJia Guolong“”One Hundred Yuan Kung Fu cuisine” has been frantically complained.

Since the epidemic, Xibei Jia Guolong has repeatedly become the focus of his remarks such as”Cry the poor” and”715″. He is still happy and continues to be”on the road to being a demon” go ahead. In November 2020, Jia Guolong Kung Fu cuisine named after Jia Guolong landed in Beijing Century Golden Resources Shopping Center. However, in just one month, Kung Fu cuisine suffered a reputation in Waterloo, and some customers joked that”it took 200 yuan to eat a takeaway meal” and”maybe it was packaging effort.” The shop has no chefs, no kitchens, and all dishes are semi-finished products. During the meal, the clerk took out the semi-finished product from the fresh-keeping cabinet, put it on the Cass stove and heated it, and put it on the table directly with the”tin box”. This way of dining surprised many consumers.

getUrls?link=4d4518b78f4daffe4cad926d75ce5b22 - Ma Yun, Dong Mingzhu, Luo Yonghao, Zhang Jindong... the top ten entrepreneurs who will"turn over" in 2020

Under the trend of consumption upgrade, consumer experience is becoming more and more important. How to improve the quality of food and enhance the dining experience of diners is the key for offline restaurants to win more customers. Jia Guolong’s”Kung Fu Cuisine” borrowed gimmick marketing thinking to set up shop blindly, but was unable to provide equivalent dishes to support this marketing. Diners always love”cooking and eating” more than”heating”. No wonder consumers who have spent a hundred yuan exclaimed:”Why can’t I eat fresh and warm food when I go to the restaurant?”

The dishes are small and expensive, so it’s hard not to roll over the”100 Yuan Kung Fu dishes”!

03

The capital chain of Xuebajun is broken, Zhang Kailei’s dream is broken online education

2021 On the evening of New Year’s Day, Zhang Kailei issued an open letter acknowledging that Xuebajun could not continue his business, and promised that Xuebajun would never run away, never shirk responsibility, and would not declare bankruptcy unless the problem was resolved.

On December 27, 2020, a screenshot of the circle of friends about Xuebajun’s bankruptcy and non-payment of employees’ wages detonated the Internet. Many class teachers and parents of students initiated salary discussions and refunds. This topic was once on Weibo hot search. On December 29, Xuebajun CEO Zhang Kailei responded via DingTalk. The company is currently raising money, placing employees, and reporting to the government.

Xuebajun is Zhang Kailei’s second entrepreneurial venture. Zhang Kailei started his business in the education and training industry twice, but failed twice because of the break of the capital chain, which is embarrassing. 2017 was the most beautiful year for Zhang Kailei. This year, Zhang Kailei was selected into the”Fortune” list of China’s under 40 business elites, and he was also selected as the founder of Bytedance Zhang Yiming and Meituan founder Wang Xing, and Didi Chuxing founder Cheng Wei. Zhang Kailei is the only entrepreneur in the education field on the list. Xuebajun ranks among the top of the industry, and Zhang Kailei has been interviewed frequently to discuss how to apply AI and big data to online education products.

The road to the collapse of Xuebajun begins with a full bet on the one-to-one mode. Other online education companies mostly start with large classes and small classes, but the track for large classes is too crowded. Zhang Kailei decided to take a different approach and adopt a one-to-one model to seize market segments. At first glance, this kind of thinking is not a problem, but he ignores the one-to-one model that emphasizes teacher quality and high cost. This model has higher requirements for teacher resources. In order to ensure the number of teachers, it will lower the threshold for teacher recruitment and greatly reduce the strength of teachers. Under the one-to-one model, the quality of teachers is declining, which is directly reflected in the fact that students’ academic performance cannot be improved, and the refund rate of parents will increase, which will lead to a shortage of funds, and the collapse is not far away.

04

Excellent Education exploded, Chen Hao’s difficult self-help has little effect

In 2020, the winner of education exploded, founder and CEOChen Hao Stuck in the whirlpool of”fleeing with money”. On the evening of October 21st, Chen Hao said on the live broadcast platform that he did not run away, and also reported to his parents, employees and franchisees the work arrangements for the day. At the same time, I promised to broadcast live on personal Douyin every day from October 22. Large organizations are willing to help, so everyone can rest assured. Chen Hao once served as a workplace cool critic in the boss group of”It’s you. Because of his maverick and sharp remarks, he became”Star” cool critic. From a respected entrepreneur to a now-rejected manager, it can be described as thirty years in Hedong and thirty years in Hexi.

The direct reason for the thunderstorm in education is that the founder, Chen Hao, is overconfident and failed to make timely risk plans to increase the company’s cash reserves. During the epidemic, many companies were cutting salaries and layoffs to reduce their operating costs. Not only did Yousheng Education not do so, it only cut the headquarter’s salary by 20%. After returning to normal in July, the salary was increased. As the students started school, the company’s income plummeted and the capital chain was completely broken. The deeper reason is that the pattern is easy to be copied. Yousheng Education adopts a franchise system. In addition to the 100,000 franchise fee, it also charges 10%of the monthly turnover of the franchise campus as a management fee. Many newly joined campuses didn’t know much about the teaching and training industry at first, but after a period of time, they can basically figure out the routines and patterns of this industry. As a result, many franchised campuses have abandoned Winning Education, starting a new course on their own, and taking away the original teachers, leading to Winning Education gradually losing its market share.

05

A good hand is played so badly, Brilliance AutoQi Yuminlost

On the evening of December 4, Qi Yumin, the former party secretary and chairman of Brilliance Automobile Group Holdings Co., Ltd., was officially dismissed and investigated. The official website of the Central Commission for Discipline Inspection quoted a message from the Liaoning Provincial Commission for Discipline Inspection:”Suspected of serious violations of discipline and law, and is currently undergoing disciplinary review and supervision and investigation.” This is only two weeks after Brilliance Automobile officially entered the bankruptcy reorganization process.

In 2005, Qi Yumin took over Brilliance Auto. This is the third consecutive year that Brilliance Auto has suffered losses. Qi Yumin used price cuts and other means to rapidly increase the sales of Brilliance Group’s cars. In 2006, Brilliance Auto’s performance improved significantly, with a loss of 38.69%year-on-year. Multi-analysis believes that Brilliance Automobile’s excessive reliance on “usage doctrine” has caused it to always lack core technology and lose momentum, which is the root cause of its business deterioration. This is related to Qi Yumin’s inability to make cars. When”The Peninsula Morning Post” interviewed Qi Yumin in 2006, he found that he did not understand the technology and market of the model’s displacement, configuration, price, competition of the same product, etc., and stated that only the general strategic development direction was taken care of, and the general manager and the subordinates were responsible for the tactics. . So in 2009, when the sales of Brilliance China went downhill, Qi Yumin continued to launch new models and new brands, and copied everything that could be copied, but without core technology, he couldn’t make waves in the market. However, Geely and Changan have already mastered the core technology to produce cost-effective original models. Consumers who know more about cars Naturally, we will never buy Brilliance’s”Patchwork” products.

06

Failed to defend the job, severely left behind, Yenjing BeerChairman Zhao Xiaodong steps down

On the evening of October 8, 2020, Yanjing Beer issued an announcement that Zhao Xiaodong, the chairman and general manager of the company, was filed by relevant authorities for alleged violations of the law. Investigate and take lien measures, unable to perform their duties normally.

Zhao Xiaodong joined Yanjing Beer in 1998. He was responsible for equipment management and beverage product research and development, and was elected as the chairman of Yanjing Beer in September 2017. It can be said that Zhao Xiaodong grew up with Yanjing Beer. When Yanjing Beer was taken over from Li Fucheng, Yanjing Beer was in a low period of successive decline in performance, and the outside world had high hopes for this”post-70s” marshal. However, after three years, Yanjing Beer has not achieved good results, and the gap with China Resources beer and Tsingtao beer has widened. Now the market value is already Overtaken by Chongqing Beer.

According to a report by”AI Finance and Economics Agency”, beer expert Fang Gang believes that Yanjing Beer, as a state-owned enterprise, has some common problems with old state-owned enterprises, and lacks market-oriented transformation and innovation awareness, conservative and passive, and slow transformation. As the beer industry is a high-end market-oriented industry, it is inevitable to fall behind. The culture of Yanjing Beer lacks intrusion and conservative ideas. Zhao Xiaodong is also a chairman of the industry and lacks a market-oriented perspective. Zhao Xiaodong’s management style also continued the Yanjing Beer’s previous style, focusing on performance assurance and lack of motivation for change. In the past three years, the domestic beer industry has developed towards high-end and branding. Under the leadership of Zhao Xiaodong, Yanjing Beer is still sticking to the rules and has not matched the development of the industry.

07

Fell into the big pit, Luo Yonghao sells fakes live

Just finished the show””It’s true.” (Repayment of debt) Luo Yonghao’s car overturned within 3 seconds with a smile. On November 28, 2020, Luo Yonghao sold”Pierre Cardin” brand sweaters in the”Make a Friend Live Room”. However, several consumers reported that the clothes received were not pure wool, but fake. Immediately, Luo Yonghao’s team recovered five sweaters for inspection, and the results showed that they were indeed non-wool products. Luo Yonghao said that he has called the police to deal with it. As soon as we initiated the rights protection, we will immediately pay three times the compensation to all consumers who have purchased the product.

As for the reason for the fakes, I made a friend and explained in the live broadcast room that it was the supplier of the channel trader Chengdu Tao Libo Network Technology Co., Ltd.-Shanghai Linxun Technology Co., Ltd. and Tongxiang City Teng Yun E-Commerce Co., Ltd. is suspected of forging documents, suspected of forging counterfeit and shoddy goods, and suspected of deliberate fraud. Shanghai Linxun Technology Co., Ltd. explained that the fake woolen sweaters were due to an error in the warehouse and the wrong batch of products was sent. They will fully cooperate with the live broadcast room and assume the responsibility.

Referring to the exposure of Simba’s sale of fake bird’s nests, the aftermath of this incident has not yet completely dissipated. For the live broadcast team, only by doing a good job in product selection and review, and choosing a good partner, it is possible to develop in this industry steadily.

08

Ma Yun‘s mistake”Group fight”, influencing Ant Group IPO

On October 24, 2020, Jack Ma delivered a speech at the Second Bund Financial Summit in Shanghai, publicly criticizing the financial regulatory system, calling it”pawnshop thinking””, bombarded”Basel is a club for the elderly.” On October 31, the Financial Commission of the State Council requested to strengthen supervision and maintain stability. Subsequently, the Central Committee for Deep Reform, the China Banking and Insurance Regulatory Commission, the People’s Bank of China and other departments jointly issued documents that directly pointed to Ant’s”Internet small loan business” and arbitrage model. On the evening of November 2nd, a group of three meetings collectively interviewed Ma Yun, the actual controller of Ant Group, Jing Xiandong, chairman, and Hu Xiaoming, president. The next day, the Shanghai Stock Exchange and the Hong Kong Stock Exchange successively issued announcements to suspend the listing of Ant. A few days ago, the crowd called Jack Ma”Papa Ma”, and a few days later, they called him”the evil capitalist.”

Ma Yun overturned, and outsiders speculated that the fuse was his conceited speech at the Shanghai Bund Summit. These views of Jack Ma are in direct opposition to the views emphasized at the summit such as”persistent on preventing and deflating financial risks”,”handling risks in an orderly manner,” and”holding the bottom line of systemic risks.” Sitting in the audience are the builders of the traditional financial system. Jack Ma stabbed the”horse’s nest” in his speech.

In 2017, Alipay became an ant, and an ant became an elephant. The huge amount of funds flowing in it directly challenged the state-led banking system. As a Big Mac, a large state-owned bank would never have imagined that a small rival like Ant would one day steal its own interests. They have realized that they need to reverse this situation. Jack Ma’s high-profile speech has undoubtedly attracted the firepower of supervision.

09

When? Fate? Zhang Jindong“selling” Ali for the second time

Around December 4, 2020, Zhang Jindong The father and son pledged all the 1 billion shares of Suning and the 65,000 shares of Suning Real Estate to the Ali department Taobao software. Suning responded to this:Suning Holding Group holds 3.98%of Suning.com’s equity. The pledge of equity is a normal business cooperation and has no material impact on Suning’s strategic development and normal operations.

Suning Group has become Zhang Jindong’s”One Words”. Since 2010, the online business model has been developing in full swing. Zhang Jindong is unwilling to give up the growth rate of offline stores and missed the best opportunity to develop online. He once admired his own JD, founded by Liu Qiangdong, has become a rival that Suning cannot ignore.

Online is not strong, offline is burning money. In the past few years, Suning has been in an embarrassing situation of cash flow shortage. Shaking hands with Ali has also been interpreted as”other plans.” In August 2015, Alibaba invested approximately 28.3 billion yuan in Suning’s non-public offering of shares and became Suning’s second largest shareholder. Prior to this, Suning and Ali had been secretly competing. A person familiar with the matter said that Zhang Jindong may not recognize Ma Yun in his heart. Whether it is pledged equity or sold non-public shares, it is his helpless move. Suning and Ali joined forces because of the shortage of cash flow. In 2017, Suning invested 20 billion yuan to increase the capital of Evergrande. With Evergrande’s return to the A-share dream, this strategic investment has become a huge sum of money that cannot be collected temporarily.

The balance sheet issued an early warning, and the cash flow was in a hurry, leaving little time for Zhang Jindong.

10

Luckin Coffee self-exposed Falsification, Lu Zhengyao’s Empire collapsed

On April 2, 2020, Ruixing Coffee, known as the”light of domestic products”, revealed that it was falsified, causing a public uproar. In October 2017, Lu Zhengyao followed the suggestion of Qian Zhiya, COO of UCAR, and opened the first Luckin Coffee shop. In the frenzied expansion regardless of cost, on May 17, 2019, Luckin Coffee went public in the United States. It was successfully listed within one and a half years after its establishment, and Ruixing Coffee set a record for the fastest IPO. You always have to pay it back when you come out. Ruixing Coffee crashed to the ground, smashing Lu Zhengyao’s”Shenzhou Series” capital map to the bottom.

China-US relations are ossified and trade frictions are constantly escalating. The days of China Concept Stocks have been very sad. “Since 2011, the supervision of Chinese concept stocks has been under discussion. Especially in recent years, frictions between China and the United States have intensified, and many Chinese concept stocks have been abnormally disturbed.” Former CFO of Ctrip and former Baidu Capital Managing partner Wu Wenjie once said. After Ruixing Coffee exploded in fraud, the short-selling agency once set off a”short-selling frenzy” against China’s stocks.