lcionline Chapter 153 Gu Wanning makes another move, Li Haipeng takes the stage.
Chapter 153 Gu Wanning makes another move, Li Haipeng takes the stage.
Chapter 153 Gu Wanning Makes Another Move, Li Haipeng Takes the Stage (5k)
Geng Zhi just stared at Gu Wan Ning.
His eyes were fixed on me, unblinking, for a full seven or eight seconds.
Gu Wanning felt uneasy under his gaze and instinctively shrank back, asking, "What are you doing?"
"Alright, alright, I won't pry into your client's privacy." Geng Zhi suddenly laughed, a smile that seemed harmless. "Then can I ask about some personal matters, please?"
"Ah! That won't do either!" Gu Wanning rejected it without hesitation, but her face turned red involuntarily.
Geng Zhi's smile was actually quite normal and easygoing, but Gu Wan Ning subconsciously misinterpreted it.
Several images flashed uncontrollably through her mind: the "[YP artifact]" tag on Momo, the books on his desk—
..
Gu Wanning always felt that behind the straightforward and easygoing smile, there was a kind of lurking evil.
But after waiting for several seconds, seeing that Geng Zhi really wasn't going to ask anymore, she regretted it.
"Um—" she bit her lip, "Why don't you tell me first—maybe I can reveal a little bit of—privacy—to you."
Geng Zhi almost burst out laughing when he saw her conflicted little expression.
"I'd like to ask you something," he said, trying to remain serious, "about legislation regarding the leakage of personal privacy."
"Um?"
Gu Wanning was stunned by this question.
So they weren't trying to pry into my privacy after all — Gu Wan Ning's chaotic thoughts vanished instantly.
This turn of events was completely unexpected.
"It's like this." Geng Zhi's expression gradually became serious, and he sat down next to her. "In the process of developing the Momo app, I discovered a problem that is more serious than [YP], and it involves the entire mobile internet industry."
"What's the problem?" Gu Wanning asked quickly, abandoning her joking thoughts.
Geng Zhi's gaze deepened, as if he were looking at an unseen future: "I've discovered that we developers, in addition to collecting users' location information, can also collect many other things: phone ID, contacts, phone model, phone number, camera permissions, file permissions."
He paused, then continued, "Once real-name authentication is implemented in the future, we can also obtain users' names, ID numbers, and..."
Even facial images and other information.
Gu Wanning frowned slightly.
After speaking frankly and earnestly, he looked at her.
Starting in 2010, smartphones rapidly became widespread in China, and the mobile internet industry entered a period of rapid development. The following decade was a golden age for technology, but also a dark age in which user privacy was severely compromised.
To Geng Zhi's recollection, it wasn't until 2019 that the Cyberspace Administration of China, the Ministry of Industry and Information Technology, and two other departments jointly launched a special campaign to rectify the situation.
In 2021, the Personal Information Protection Law officially came into effect, and the industry's unchecked growth finally shifted to compliant development.
During this period of unbridled growth that followed, legislative lag made way for the rapid pace of technological advancement.
A significant portion of netizens' personal privacy information has been leaked, sold, or even circulated overseas, leading to various risks such as fraud, extortion, harassment, and even more serious incidents.
Geng Zhi felt that while making money, he could also do something for this era.
Meeting his straightforward gaze, Gu Wanning instantly understood what he meant: "Are you worried that some companies might obtain and misuse users' personal privacy information?"
"Yes." Geng Zhi nodded. "The mobile internet industry in China is not yet widespread, so this phenomenon is not obvious yet."
But once it experiences rampant growth like the United States —
Before he could finish speaking, Gu Wanning interjected, "Once we experience rampant growth, legislation will inevitably lag behind technological advancements, leading to a regulatory vacuum?"
"Yes!" Geng Zhi nodded emphatically. "This is extremely harmful. It's not just a problem of one company, it's a problem of the entire industry, and it affects hundreds of millions of users across society."
Gu Wanning frowned.
She seemed to understand the meaning behind Geng Zhi's words, but not entirely.
What I understand is the potential risk of personal information leaks. What I don't fully understand is why this is so serious, and why it affects the entire society.
Seeing that Gu Wanning still didn't fully understand, Geng Zhi explained it to her from a different angle: "Wanning, why is Baidu's market value over 200 billion US dollars?"
"Because of its dominant position in the search field, online Google is its core profit model, which can make a lot of money."
"That's right. Baidu's revenue in Q1 was reportedly 13 billion yuan, with online marketing services (GG) contributing almost 100% of that."
1
"Hmm. So?"
Gu Wanning still didn't quite understand what the connection was between Baidu's GG and the leakage of users' personal privacy.
Geng Zhi got up, walked to the window, and glanced at the newly blooming green plants outside. They were several rose bushes, their tender red buds gleaming in the setting sun.
He turned around and continued, "In the PC internet era, the core of Google was [traffic] and [location], such as Google search, Google display, Google pop-up, and so on."
"The internet companies with the largest revenue from Google are Baidu and Alibaba. The former mainly focuses on keyword bidding ranking for all industries, while the latter mainly focuses on keyword bidding for Taobao merchants. Both of them search Google."
Gu Wanning nodded but remained silent, waiting for Geng Zhi to continue.
"However, in the mobile internet era, the GG model will undergo fundamental changes, and the core of GG will become [people] and [scenarios]."
"GG owners in the PC Internet era purchased prime traffic spots such as the homepage of portal websites and search keyword rankings. The data granularity was very coarse, with only cookies and vague IP addresses, resulting in extremely crude user profiles."
He paused, then continued, "But in the mobile internet era, Google Ads can use user profiles to accurately target [a specific group of people]."
It's not about buying [locations], it's about buying [people].
Gu Wanning blinked, seemingly lost in thought.
Geng Zhi explained things in great detail, while Gu Wan Ning listened attentively like a primary school student in class.
She didn't really understand what "genuine" meant. It wasn't that she couldn't understand it, but that she hadn't yet developed that kind of cognitive framework.
"You big liar, can you give me an example?"
"it is good."
Geng Zhi sat back down on the sofa, facing Gu Wan Ning up close, their knees touching.
"For example, when you use the Momo app, we might be able to collect your name, age, gender, wake-up time, commute details, work address, phone model, the apps installed on your phone, and even what time of day you are online and where you like to be active."
Upon hearing this, Gu Wanning's expression changed, and her eyes widened in surprise.
"With your information, Momo can sell it to a certain Google platform or Google user. The next time you open the Momo app..."
"At that time, I can accurately recommend a new iPhone, a high-end car, or Chanel perfume to you —"
Gu Wanning gasped.
"This way, the GG ads targeted by the GG master will be very accurate!" She instantly understood, and at the same time felt a chilling thought about the leakage of personal privacy data.
Seeing this, Geng Zhi continued his explanation: "Therefore, in the mobile internet era, new business models will emerge, namely [exchanging free data for traffic, using traffic to promote Google, using Google to spread costs, and then making big money]."
"The wool comes from the pig's back," Gu Wanning murmured.
"Yes." Geng Zhi nodded, "Users enjoy free services, but the price they pay is their attention, and—"
My own data.
Gu Wanning took a moment to process this, then nodded: "In that case, if the traffic is really that huge, then internet giants like Baidu will continue to dominate the mobile internet industry."
Upon hearing "[Baidu dominates the mobile internet]", Geng Zhi offered no comment, only giving Gu Wan Ning a mysterious smile.
Gu Wanning's relaxed brows furrowed again, and she couldn't help but ask, "But I don't understand, this is just a difference in GG's profit model, so why did you just say this issue is more important than [YP]?"
Even more serious? Why is it a major problem for the entire industry?
He looked at her directly, his gaze serious: "When you use Momo, we proactively ask for your authorization and only collect information you've authorized, because Momo operates with integrity. But what if the product you use doesn't operate with integrity?"
He paused, his tone becoming more serious: "They can secretly collect a lot of your private information, such as your contacts, photos, location, recordings, and even camera footage."
It could be used for Google optimization, or it could be sold to third parties for targeted scams.
Gu Wanning suddenly realized what was happening and looked at Geng Zhi in disbelief.
Geng Zhi continued, "The money comes from the user; the app attracts users with free services and then sells their attention to Google."
"The business logic of the Google Ads industry dictates that the more detailed the user data you have, the higher the conversion rate of your Google Ads campaigns, and the greater the profits. This is called traffic monetization, precise traffic monetization."
"I am certain that this will be the most important business model and the largest business model in the mobile internet era. But for the vast majority of users, it is also the biggest hidden danger."
Gu Wanning nodded thoughtfully: "Therefore, in the future, more and more products will collect as much user privacy data as possible for profit, which will eventually lead to the leakage of everyone's privacy data."
"Yes!" Geng Zhi nodded, his tone becoming low. "I had a dream last night."
"What did you dream about?" Gu Wanning asked curiously.
Just as Geng Zhi was about to speak, Niu Baoguo knocked on the door and poked his head in.
He noticed Gu Wanning was also there, chuckled, greeted her, and quickly left, closing the door behind him.
As Geng Zhi watched Niu Baoguo's departing figure, he suddenly recalled how he had been invited by a friend to Yunnan Province to inspect a major project, and had never returned.
"Hey, you big liar, what's wrong with you? What are you spacing out for?" Gu Wanning looked at Geng Zhi, who was in a daze, and waved her hand in front of his face.
"Oh, I dreamt last night that a girl got into university and was preparing to go to college with nearly 10,000 yuan in tuition fees that her family had saved up through scrimping and saving. But she was scammed because her information was leaked."
Gu Wanning stared intently, her expression filled with sympathy.
"Later, all her money was swindled away by the fraudsters. On her way home after reporting the crime, she suffered cardiogenic shock due to stress caused by grief, anxiety, and emotional depression, and ultimately—"
Geng Zhi didn't continue, and the room fell silent.
After a long silence, Gu Wanning spoke first in a low voice: "Geng Mingfan, how do you plan to clean up this industry? What do you need me to do?"
"Go ahead and say it."
Geng Zhi took a deep breath: "I checked, and five years ago, a professor submitted a draft of the Personal Information Protection Law to the State Internet Information Office, but the legislative process seems to have suddenly stalled. I'd like to know how to quickly restart the legislative process?"
Gu Wanning pondered for a moment and slowly said, "I don't know the specifics, but I guess it may be related to institutional reforms, limitations in legislative resources, etc. Legislation on information technology needs to give way to other more important and urgent legislation."
"However, pushing forward the legislative process involves a wide range of stakeholders, including academia, legislative bodies, and the business community, making it quite challenging," Gu Wanning added earnestly.
Geng Zhi nodded: "I understand. Then I'd like to know, if we contact a renowned professor at Shanghai Jiao Tong University's Law School, using personal information protection as a research topic, with Momo, as a well-known company, providing data support, and leveraging Tang Yan's connections at NetEase to guide public opinion, is there any hope of accelerating the legislative process?"
Gu Wanning understood what Geng Zhi meant; he wanted to replicate the format of the online dating white paper launch event.
She thought for a moment and nodded: "In general, we can give it a try. But this is much more difficult than you think, and the law school of Shanghai Jiao Tong University alone is not enough."
Gu Wanning straightened up and continued, "We can sponsor a seminar on [personal information protection] at Jiaotong University's Law School, invite senior legal experts in the field of information technology, and relevant leaders from the Ministry of Industry and Information Technology and the Cyberspace Administration of China to participate, and then jointly release a 'White Paper'."
"Then, we can leverage the influence of the Momo app and Tang Yan's media resources to guide public opinion."
Gu Wanning paused for a moment, then continued: "As long as the legislators see that [there is a social demand, the industry has a consensus, and basic research has been completed], things will be much easier."
The next step is for legal experts to submit relevant "suggestions" to the Legislative Affairs Commission and the Legislative Affairs Office to restart the legislative review process.
Geng Zhi listened attentively to Gu Wan Ning's statement, nodding in agreement as he listened.
I spent so much time researching, but the solution I came up with was not as good as the one someone else came up with in two minutes.
"Besides the professors from the National Chiao Tung University Law School, which academic experts should we look for?" Geng Zhi asked again.
"Chongqing University and Southwest University of Political Science and Law both have some very professional professors in related fields." Gu Wanning then smiled, "I can also ask my professors at Peking University for help."
"Okay, [Personal Information Protection] involves the interests of users throughout the mobile internet industry and is urgent. Thank you for your hard work, Wan Ning." Geng Zhi gave a gesture of request.
Gu Wanning gave an OK sign, but said with some concern, "I'm worried that what you, Geng Mingfan, are doing will lower the overall size of the mobile internet gaming market, and Momo's gaming business model will be the first to be affected."
"Yes, knowing there are tigers in the mountains, yet still heading towards them," Geng Zhi said with a righteous and awe-inspiring smile.
"Won't you become the industry's public enemy again?"
"No, after all, there aren't many big mobile internet companies yet, so we haven't offended many people. It's alright, it's alright." Geng Zhi said with a mischievous smile.
Looking at Geng Zhi, Gu Wan Ning suddenly had a premonition, and then asked curiously, "I think you definitely won't suffer a loss. Tell me, what are your considerations?"
"secret."
After leaving Geng Zhi's office, Gu Wan Ning immediately returned to the law firm.
On the way back, Gu Wanning actively helped Geng Zhi contact his professors at Peking University's Law School to inquire about issues related to [personal information protection], while also communicating with Li Dongping's team to continue discussing matters related to his business trip to North America.
Geng Zhi got up and went to the Ele.me office next door. Today was the day Zhang Xuhao was treating everyone to chicken hot pot.
Meanwhile, in a private conference room at a hotel in Shanghai.
The teams of Li Haipeng, Li Dongping, and Zhu Xiaohu gathered together for the second round of negotiations regarding the financing of the [Weiju] product.
Although the Weiju APP currently only has a demo and no official product yet, it has Momo as a benchmark, and Weiju's profit model looks healthier than Momo's, which makes Arctic Capital and Jinshajiang Venture Capital very optimistic about Weiju.
Li Dongping's self-proclaimed goal is: following the instructions given by the behind-the-scenes boss, this time we must join forces with Jinshajiang Venture Capital to acquire Weiju, and cultivate a good relationship with Zhu Xiaohu to facilitate future strategic cooperation in investment.
Zhu Xiaohu's goal is relatively simple: he missed out on Ele.me and Momo's Series A funding. Now that the LBS sector is booming, Jinshajiang Venture Capital wants to acquire Weiju as soon as possible, get on board, and help it reach the top two in the industry.
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Li Haipeng's goal is to raise the valuation of [Weiju] to over US$1500 million, following Geng Zhi's advice.
The three parties have different but harmonious goals.
After nearly two hours of communication, the three parties finally reached an agreement.
Arctic Capital and Jinshajiang Venture Capital have agreed to jointly invest $1500 million in Micro-Focus's Series A round, at a valuation of $300 million, acquiring a 20% stake.
Arctic Capital led the investment with $200 million, while Jinshajiang Venture Capital followed with $100 million.
"President Li, we have high hopes for you. The rest is up to you! We are really looking forward to Weiju's user base catching up with Momo's!" Li Dongping said with a smile.
"That's right, Weiju's innovative business model of [free for girls + paid for boys] is fantastic, especially in the lower-tier market where it's very competitive and differentiates itself from Momo. We believe that President Li can continue to bring us surprises," Zhu Xiaohu added.
"Thank you, thank you Arctic Capital, thank you Jinshajiang Venture Capital for your trust. We at Weiju will definitely live up to your expectations!" Li Haipeng said, slightly excited.
Next, the three parties had a detailed discussion on future operational strategies in a small conference room before the meeting ended.
As soon as the negotiations ended, Li Haipeng returned to his room, unable to contain his joy. He kept clenching his fists and waving his hands, shouting "[Yeah!]!" "[Yeah!]!" "[Yeah!]!" several times.
I was thrilled by the successful financing, thrilled by the honest and insightful prediction, and thrilled even more so by my own company.
Although he told him frankly that the primary goal of establishing Weiju was to practice entrepreneurship, accumulate experience and lessons, and prepare for doing big things in the future.
But for CEO Li Haipeng, it's not like that.
This was the first time he had truly become a boss, and the first time he had truly received a huge investment of tens of millions of yuan. He was determined to make Weiju a success.
After calming down a bit, Li Haipeng quickly sent several messages to Geng Zhi, reporting on the details of the Series A financing.
[Li Haipeng]: "Boss, just as you said, [Weiju] has indeed reached its valuation target of $1500 million in financing!!"
[Straightforward]: "Well done! Keep it up, Mr. Li, and lead Weiju to the top of the industry soon!"
After returning to his hotel nearby, Li Dongping immediately drafted an email to report the results of the investment negotiations with Weiju and his expectations for the future to the boss behind the scenes.
At the end of the email, he also reported on his trip to Canada to negotiate with Kik's team at the University of Waterloo.
After leaving the hotel where the negotiations were taking place, Zhu Xiaohu took a taxi directly to the office of Gengzhi Mingfan Technology.