It's a company with good welfare
This company said that the big is not much, but there are more than 4500 people, no punching, no performance, KPI has not heard, to put it bluntly, do not go to work to see their own, the work is completed on the line.
One person working, the whole family medical insurance, even if the newcomer has just gone to work, say that someone in the family is sick, immediately take 6 months of paid leave, pregnancy is the same treatment.
It is said that such an unorganized, undisciplined, and unprincipled "three noes" enterprise cannot be favored by others. Sure enough, a los Angeles Times reporter came to interview, shook his head, and the newspaper firmly predicted, "You can manage it now, and you won't be able to do it for $200 million." ”
The heads of the two enterprises were not convinced, and when the enterprise achieved 200 million US dollars, the reporter was invited back, the reporter took a look, how to manage it is still so lazy, and warned again, you are like this, to 1 billion US dollars will be finished!
"We're now making more than $6.5 billion a year, but that's how we manage it." The reporter also believes in evil, and the whole world estimates that your family dares to do business in this way.
And this company that perfectly avoids all corporate management rules, but with this laziness to achieve the world's first, is a brother in the world's memory industry - Kingston!
Now it has not only gotten rid of doubt, but has even become a utopian ideal that American scientists and technicians aspire to. However, it has to be mentioned here that no financing, no listing, no loans, the most bizarre private company in the world's top 500 companies, or from the hands of two Chinese.
Du Jichuan and Sun David did not fight and did not know each other, it was the 70s, Du Jichuan was still doing sales, once playing basketball met Sun David, a hearty ball game, the future entrepreneurial partner, personally sent to him.
At that time, Sun Dachuan was doing hardware engineers, often mentioned to Du Jichuan, the company to make a computer motherboard cost 200 US dollars, but the price is as high as 2000 US dollars, and do not worry about selling, the effect of making money is really amazing.
This made Du Jichuan, who came from an engineering background and had sales experience, smell a glimmer of business opportunities, "Why don't we do this kind of business, you design the motherboard, I will be responsible for sales." ”
Since the ancient business wizards, they all love to do big things in the garage, Du Sun and the two are no exception, clean up the Garage of Du Jichuan's family, the two began to stir up their own American dream, founded a company specializing in storage: Camintonn, just happened to meet the climax of the US economic eruption, the business is too good.
In just two years, the two did not make a lot of money, small money did earn a lot, there is not much ambition, there are companies want to buy Camintonn, throw their hands to buy, throw money to the stockbroker, they began to live happily.
By October 17, 1987, black Monday in the United States came, the stock crash was too sudden, in just a few hours, the total market value of American stocks evaporated by $500 billion, equivalent to 1/8 of the annual gross domestic product, and many people who are keen on stock speculation are even more vulnerable.
Du Sun and the two naturally did not escape a disaster, the taste of overnight wealth did not taste, a night of bankruptcy is a hard experience for a while, the two are really nowhere to say desolate, middle-aged bankruptcy is not like youth, childcare with mother, what can be done in the future life.
After two weeks of calming down, the two of them came out for coffee, from comfort to encouragement, from encouragement to motivation, to his bankruptcy, and it was a big deal to start over.
So, I went home and rummaged through the boxes and cabinets, and finally found $2,000 in the garage of Du Jichuan's family, which was used as a starting fund to start the initial bud of Kingston.
That's right, garage again
Today's Kingston, of course, is not a cow, not only the world's largest memory company, but also many times elected as the best employer in the United States, the reason is that the founder has always adhered to his "strange" corporate culture.
The most disliked thing is the management of the business school "crooked reasoning", I heard that the staff has difficulties, Du Jichuan usually does not say a word, stuffed a few hundred thousand dollars into the pockets of employees, not enough to say.
Take employees on business trips, rush to work after the difference, have time for us to have a "free trip" to relax and relax, and even pay for them to take them to the casino to be dashing, the most important thing is to be happy.
Some people say that their doing this is simply improper to take money, eh, it is really inappropriate to take money.
Kingston was also acquired that year, it was in 1996, Son Zhengyi's Japan SoftBank bought Kingston for $1.45 billion, but when the final payment was made, it took out 1.17 billion, the funds were a bit tight, and the remaining 330 million, hoping to slow down.
Then Du Jichuan gave Sun David a phone call, and after ten minutes he replied to Sun Zhengyi, this 330 million US dollars, we don't want it!
Really don't want to? Sun Zhengyi was really surprised, don't want it. Not only did $330 million go away, but also $100 million was given to employees, and each person received no less than 2 million yuan.
And more legendary than this is still to come, and then Japan's softbank has no interest in the storage industry, to sell Kingston, Son Zhengyi took the initiative to find Du Sun and the two people, forced to sell 450 million US dollars to them, and calculated that they also made more than 600 million US dollars.
However, looking at the style of Du Sun and Du Sun before, it is no more than that the two are now tied for 51st in the "Forbes" global Chinese rich list.
After experiencing several losses and gains, Du Jichuan and Sun David deeply understand that making money is not the only work, they just hope that more people can taste fairness, happiness, trust, and a little sweetness in life.
Just as the so-called thousands of gold are scattered and returned, disasters are often unpredictable, and sometimes, disasters fall into the human touch of integrity and become the best gift from heaven.
Further reading:
One deal lost $650 million
But it made Son Zhengyi and the founder of Kingston
On October 17, 1987, Du Jichuan and David Sun used only $2,000 as start-up capital for the new company, re-started the business, and named the company Kingston Technology.
And this time, they quickly succeeded in starting a business:
In 1992, Kingston was voted the fastest-growing private company in the United States by the media; in 1995, Kingston became the world's largest DRAM (Dynamic Random Memory Card) company with $1.3 billion in revenue, successfully joining the "billion dollar club".
To commemorate this achievement, the company also held a "heartfelt thanks" in the Wall Street Journal and other media outlets with a "heartfelt thanks!" A huge advertisement was published, thanking suppliers and agents, and listing the names of each company employee.
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At that time, Kingston was like a rising star, and its development quickly attracted the attention of many capital predators, including Sun Zhengyi.
So, in 1996, a confident Son zhengyi walked into du Jichuan and David Sun's office and offered an unavoidable condition: to buy 80% of the company's shares for $1.5 billion.
Son Zhengyi is domineering in doing things, but this is very in line with his style, otherwise there will be no later legend of "after talking with Ma Yun for five minutes and then deciding to invest in Alibaba".
Du Jichuan and Sun David are both people who pursue a better life, they claim to have no ambitions, and they have sold the company once and lived a dashing life. The huge wealth at their fingertips made them yearn for a peaceful life with light clouds and breezes, so they decided to let go when it was time to let go.
Then, they did something that shook the nation, and after receiving SoftBank's first acquisition of more than $1 billion, Du Jichuan and David Sun took out $100 million in cash and distributed it to all Kingston employees. With this windfall, the average Kingston employee could buy several Ferraris.
After taking over Kingston, Son began his hardware development plan.
He pushed Kingston to work with Toshiba to upgrade the memory for Toshiba PCs, the first time a PC OEM has partnered with a memory manufacturer to manufacture co-branded product modules.
He also led Kingston to the Uk to set up its European headquarters. In 1998, Kingston became more famous and ranked second in Fortune Magazine's "Top 100 Best Employers in america."
Kingston went all the way forward, but Son Zhengyi was in trouble.
In 2000, SoftBank was in a dilemma due to excessive expansion and a cyber stock market crash, so SoftBank only paid $1.14 billion, and there were still $300 million that could not be paid.
So Son approached the two to discuss whether they could postpone the payment of the unpaid $330 million purchase price.
Unexpectedly, the two decided on the spot: the rest, don't want it! Because they feel like they've earned enough!
However, Son later decided to abandon Kingston.
At that time, SoftBank had won the honor of Internet investment overlord because of Yahoo, and most of the projects it invested were Internet companies. But Kingston's presence has confused the market and even worried that their strategy is not clear. Whenever SoftBank's stock price rises, this question is raised, interfering with its image as an Internet overlord.
So, for The Sake of SoftBank's strategic adjustment, Son finally decided to sell Kingston and refocus his firepower on the Internet.
Resolute when buying, decisive when selling, this is Sun Zhengyi, once decided, at any cost, do not drag mud and water.
Perhaps out of appreciation and gratitude for Du Jichuan and Sun David's righteousness, or out of hope that Kingston will still be his friend, Sun Zhengyi decided to return the company to Du Jichuan and Sun David, and took the initiative to offer a price that also shocked the world: $450 million to sell 80% of Kingston's shares.
1.45 billion US dollars sold, 450 million US dollars bought back, even if the 330 million US dollars of affection given to Sun Zhengyi were given to Sun Zhengyi without a word, Du Jichuan and Sun David still made more than 600 million US dollars because of Sun Zhengyi's tossing.
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In this transaction, Sun Zhengyi, Du Jichuan and Sun David showed a true Confucian and business style, which became a good story in business history. Both sides are able to know, to be content, to be able to think about each other. This is the middle way, do not do things without doing absolutely.
Instead of reading a few books, you can call a Confucian businessman by wearing a Tang costume, the key is to see how to do it. Du Jichuan and Sun David are full of sincerity to investor Sun Zhengyi and employees.
Today, Kingston is one of the world's top 500 companies, is the world's largest memory company, this company insists on no listing, no financing, no loans, employee welfare is super good, by the United States Fortune magazine as "America's most suitable company to work", becoming an idealistic enterprise beyond traditional business.
Compared with them, many of the acquisitions on the market are too ugly to eat.
In more than 3 years, $1.1 billion was paid, $450 million was recovered, a loss of $650 million, and the sold company continued to grow all the way.
The book was a loss, a loss of $650 million. However, if you count the opportunity cost, Son Zhengyi is a big profit. The $450 million was recovered in 1999, and if Son hadn't withdrawn from these areas he had decided to strategically retreat, he might not have the money to reinvest in the Internet.
SoftBank invested in Alibaba in 2000, and in 1999, it recovered the funds that had to give up the field and invested in the Internet, which can be said to have become the most critical turning point for SoftBank.
This is the tyrant, calculating big accounts and doing big things.
In fact, in the several key nodes of this story, in the vast majority of people's vast majority of times, it should be another direction:
When a middle-aged man is 46 years old and his finances are zero, how many people have the courage to start a new business? Many people are already preparing for retirement, or think that they are so big, they will not toss anymore, mix it; When Sun Zhengyi proposes that he needs to postpone and has no money to pay the final payment, the average buyer may sue Sun Zhengyi, how can you lack this money in such a large industry? If you don't give money, I won't give you a good job, and in the end, Kingston, who was tossed away, Sun Zhengyi also fell into a quagmire, and Du Jichuan and Sun David did not have the opportunity and achievement of the big cause of buying back Kingston later; When Sun Zhengyi proposed to sell back Kingston to them, the average seller asked for the principal plus interest, or a higher premium, Du Jichuan and Sun David may not be able to afford it, and Sun Zhengyi may not be able to find a good buyer for a while, and then put the company away and wait for the person who offers the high price. In that case, SoftBank may not have enough money to invest in Alibaba in 2000.
The road of life is really long, do yourself well, be kind to others, the wisdom of the ancients has been passed down for thousands of years, there must be enough truth.