On June 1, 2001, five directors of Sina, headed by Duan Yongji, suddenly announced to Wang Zhidong at the board meeting that he would be relieved of all positions at Sina.

In April 2000, Sina was listed on Nasdaq only one year ago.

01 The tragic godfather who was kicked out. At that time, affected by the entire Internet industry, Sina's advertising revenue grew slowly. Investors lost confidence in Sina's profitability and advocated accepting a cash acquisition from China.com.

Wang Zhidong, who only holds 6% of the shares, is opposed.

As the differences deepened, Sina's board of directors kicked Wang Zhidong out without giving him any opportunity for discussion or explanation.

"Without Wang Zhidong, there would be no Sina!" At his peak, Wang Zhidong was revered as the godfather of the Internet. He was once known as the Three Musketeers of the Internet along with Zhang Chaoyang and Ding Lei.

However, faced with the ruthlessness of capital, Wang Zhidong, described by the media as a "tragic hero", could only leave sadly.

After that, Sina's CEOs changed many times until Cao Guowei, who was born in finance, took over. He won the favor of the board of directors because he advocated the launch of Sina Weibo.

Later, Cao Guowei carefully analyzed the reason why Wang Zhidong was kicked out. It was because he had too little power to speak.

Subsequently, Cao, who was good at capital operations, united two fund companies, implemented a management stock buyback plan, bought 9.39% of Sina's shares, and became Sina's largest shareholder. At this point, Cao Guowei has completely secured his position as CEO.

Location.

02 Robin Li dares to fight with the board of directors. In sharp contrast to Wang Zhidong is Robin Li's strength at Baidu.

In 2001, Baidu's revenue was unsustainable. Robin Li proposed a "bidding ranking" business model, which was strongly opposed by the board of directors. The two parties argued in the conference room for three hours.

Baidu partner Xu Yong said: "Robin, we didn't invest in you to let you do bidding rankings." Robin Li was furious, slammed his phone, and yelled at the board of directors: "I won't fucking do it, and neither will everyone."

He did it and shut down the company!" The board of directors was overwhelmed by him and had to compromise and agreed to give Robin Li a try.

After Robin Li launched bidding ranking, he successfully found a business model. In 2005, Baidu successfully landed on Nasdaq. Robin Li held 22.9% of the shares and ranked as the largest shareholder; while the second largest shareholder Xu Yong held 7% of the shares.

The right to speak is equity, but there are many entrepreneurs who do not understand this.

03 Entrepreneur who was captured by barbarians on the board of directors. A few months ago, Musk, who was dancing in Shanghai, was "forced out" by shareholders due to the plummeting stock price. Many institutions recommended that Musk be removed from the board of directors and only retain the position of CEO. Fortunately,

Only after China took action did the stock price of Tesla, which was being attacked from both sides, rebound and keep Musk's position; Dong Mingzhu was once united by many Gree shareholders to step down. Sister Dong shouted at the shareholders' meeting, "Without me, there would be no Gree. There would be no Gree."

Gree doesn’t have me either.”

Then Zhu Jianghong, the former chairman of Gree, slapped him in the face and said, "Without Dong Mingzhu, there would be no Gree. This sentence is not consistent with historical facts."

In addition, there are Steve Jobs, who single-handedly founded Apple but was fired by his own appointed CEO, and Vanke Wang Shi, who was "usurped" by barbarians and complained to various media outlets.

04 Real bosses who know how to use the rules. Faced with countless bloody lessons, Chinese entrepreneurs have begun to understand the power of capital.

Even if the stock price rises to the sky, we dare not sell the stock easily.

But the real boss knows how to use the rules to my advantage.

Jack Ma, who was already well-known for his foresight, gave up the Hong Kong Stock Exchange and went to the New York Stock Exchange in order to insist on having voting rights.

Alibaba's largest shareholder is Masayoshi Son, who holds 35% of the shares, while Jack Ma only holds 6% of Alibaba's shares, but has the largest voting rights.

There is also the tough guy Liu Qiangdong. Although he only holds 20% of the shares in JD.com (the top two shareholders are Tencent and Walmart), Liu has 80% of the voting rights.