The article comes from Wuxiang Business Trend , author Wuxiangjun
The article has been authorized
On the evening of December 17, Luo Yonghao mentioned in the live broadcast room that Oriental Selection had given Dong Yuhui a sky-high price. “I don’t know the exact number, but it definitely deserves the sky-high price.” Xiao Sun, the original CEO of , quit and Dong Yuhui stayed. Oriental Selection’s stock price soared 21.9% on Monday! A short essay can easily cause a market value of tens of billions! This is Dong Yuhui’s victory and Yu Minhong’s compromise with capital (shareholders). Whenever Luo Yonghao mentioned Yu Minhong, he said that he was an "iron rooster" and had no big heart. has its roots in hatred. At that time, Luo Yonghao was also a famous lecturer at New Oriental, and even generated tens of millions of free advertising effects for New Oriental every year. But the salary Yu Minhong gave him was "not enough at all." In his opinion, Yu Minhong is a very realistic person. His principle of using teachers is very simple. As long as the students agree, as long as the students welcome him, he will re-employ him, no matter what means are used, even if his moral character is questionable. This reality allowed him to see clearly what Lao Yu was like. It was also because of income issues that he finally left New Oriental. So he defended Dong Yuhui and believed that Dongfang Selection should give Dong Yuhui at least half of its shares and benefits. Luo Yonghao praised Dong Yuhui today, maybe because he saw himself back then, but more likely, he wanted to dismantle New Oriental. According to the equity structure, 54.95% of the equity of Oriental Selection is held by New Oriental Group. The parent company of went all out to incubate Oriental Selection and then gave it to Dong Yuhui. Is it possible? In Luo Yonghao's suggestion, Dong Yuhui should start his own business and find an investment institution and one or more excellent partners. Don't waste resources and put his fate in the hands of others. The founder of "Gaotu Jiapin" on the other side even said: "Dong Yuhui is for love, not for poaching." Overnight, all New Oriental's old rivals and old enemies were doing the same thing. Thing: praises Dong Yuhui and belittles New Oriental. This is called catering to the populists, and it is also called killing someone with a borrowed knife. In the past few days, the popularity of Lao Luo's live broadcast room has doubled, and the number of goods sold is far higher than usual. The number of fans of Gaotu Jiapin's live broadcast room has increased to about 2.5 million, and the stock price has soared. The enemy's internal strife is the best opportunity and assist. It is false to praise Dong Yuhui, but it is true to kill New Oriental. The reason is very simple. Dong Yuhui’s knowledge blogger is currently highly compatible, and he is in great need of the idealistic character image established by New Oriental and Lao Yu over the years. Dong Yuhui works on his own, who is the right person to write essays, and who is the right person to collect money for him? Is the image of Lao Luo appropriate? In 2016, Papi Jiang became popular. Another old man, Luo Luo Zhenyu, valued the IP at 300 million, and jointly announced a high-profile investment of 12 million with Zhen Capital. What was the result? The papi sauce later became less popular. Dong Yuhui himself knew this very well. He did not accept these words, but said: "After the incident happened, all kinds of people with different intentions came." In the latest live broadcast, he also made it clear that he is still in the Eastern Selection. I guess there are three considerations in . First, it is path dependent. Oriental Selection is still the most suitable platform for Dong Yuhui’s IP image. The second is the expiration of equity incentives. According to the news from " Dongfang Xiaosun ", Dong Yuhui was allocated options before, but to receive the reward, he needs to work until April next year. In addition, the risk is too great. Including betraying the old employer, may face the loss of halo, may fail to start a business, or may break with new investors and partners again. In the current environment, the risks are obviously greater than the vested interests. It is obviously not cost-effective for to leave his job now. Lao Yu’s “iron cock” performance is due to both the limitations of the founder’s love for money and his own experience. In the early days of New Oriental's business, there was a star teacher who had a very good reputation. As time went by, he lamented that his salary was low and wanted a salary increase. But this addition requires the company to give itself 40% of its income. Of course Lao Yu did not agree, and then the teacher joined other teachers in a collective strike, resulting in New Oriental having to compensate the students. Later, Lao Yu paid great attention to the balance between teachers and teachers. So even if Dong Yuhui brings "New Oriental Online" back to life, the rewards of income and status are still not in place. Lao Yu still treats live star anchors the same way he treats lecturers. From a commercial perspective, this model is naturally backward. A few days ago, Dong Yuhui stated in the live broadcast room that he had rejected at least 100 million ads, saying that he did not even have 10 million. not only expresses grievances, but also forces the management to go to the palace. After gained the core value of tens of millions of fans, Dong Yuhui's mentality and behavior have changed. Conflicts of interest are always the flashpoint of conflicts. I checked Dong Yuhui’s promotion process at New Oriental and found that Dong Yuhui’s boss turned out to be Sun Dongxu, who was causing trouble for him. In early 2015, Dong Yuhui joined Xi'an New Oriental. Sun Dongxu, the then principal, single-handedly promoted Dong Yuhui, whose academic qualifications were not outstanding among New Oriental teachers, and made him the director of English teaching and research. After the " double minus " in 2021, Dong Yuhui wanted to leave the education and training industry, but Sun Dongxu pulled him to encourage him: "We work together, and when dawn comes, we will see the light." Live broadcast performance was very poor at first , Dong Yuhui thought about leaving again, or Sun Dongxu gave him a chicken blood injection: "Didn't you tell students before to find hope from despair? Didn't you encourage students to look at the bigger world? Have you done it?" in Encouraged by Sun Dongxu, Dong Yuhui relied on his unique chicken soup style to stand out among the shouting anchors at the time, and eventually became the trump card of Oriental Selection. This is a gift of the times, and it is also the silent contribution of various staff behind Oriental Selection. Put yourself in ’s shoes. You are Sun Dongxu, and you single-handedly brought Dong Yuhui out, but this little comrade has become the leader, calling himself around, and even directly joked about killing himself in the show. Can your psychology not be distorted? If you are the editor of New Oriental, you may be even more twisted. was originally a colleague, but now I am reduced to "writing scripts" for him, and my income is still a lot lower. Can not be jealous or complain? So that short essay was a conspiracy between the old leader and his colleagues. The company has changed. The live streaming company is not an education and training company, nor is it a retail industry. Dong Yuhui is an Internet celebrity and a star, and everyone has become dependent on Dong Yuhui for a living. In this case, conflicts will naturally rise. This is the result of corporate genes and the inevitable nature of human nature. Dong Yuhui has stabilized, but "de-Donghua" is still on the way. Yu Minhong is a boss with strong willpower. He cannot allow Dongfang Selection to become an internet celebrity company and a showcase for Douyin. He has emphasized more than once: "Business models established based on external platforms are very fragile." Therefore, Oriental Selection has high-profile to build its own APP, build its own membership platform, and join the Taobao platform, and has been trying "Get rid of shaking" and "get rid of Donghua", and develop cultural tourism business, and the legal representative of this business is still Sun Dongxu. In October this year, Oriental Selection established a company related to cultural tourism business, with Sun Dongxu as the legal representative. In the latest live broadcast of , Lao Yu said: "We want to be a platform. As long as the platform becomes bigger, we must also support people like Yoyo and Dundun." What does mean? company is going to make "Oriental Selection" bigger, not you Dong Yuhui. Starting from January this year, Oriental Selection has allowed Dong Yuhui to take more vacations, and has promoted new anchors such as Lele, Tianquan, Daqi, and Taotao. After this incident, Oriental Selection will only accelerate the separation from Dong Yuhui.The short composition incident was just a problem with the technique in the cutting process. Because it was too clumsy, Dong Yuhui and his fans saw through the technique. has no choice but to drop the title of "big housekeeper" to appease people. On the other hand, in the latest live broadcast, Yu Minhong kept saying that Dong Yuhui would not leave Oriental Selection, but Dong Yuhui refused to answer a word like this, and one kept talking while the other listened. Throughout history, there has never been an emperor or business leader who did not liquidate after being hijacked by his subordinates. There is no emperor or business leader who can still cooperate until old age after losing mutual trust with his subordinates. The preface to future breakup stories may have already been written. have the same fate but different fortunes. is the fate of the three major education and training institutions after the double reduction. suffered double losses. When entering the live broadcast, Xueersi Youpin and Gaotu Jiapin almost copied Oriental Selection one to one. sells food, books and other products. are all knowledge anchors transformed from teachers. but the ending is different. All this stems from the accidental birth of the anchor. Someone on the Internet said that Dong Yuhui was a lottery winner drawn by New Oriental. The metaphor of is not an exaggeration at all. The broadcasting circle of anchors has always been highly random. They have to be selected by the algorithm and favored by the general environment. Dong Yuhui’s lottery ticket embodies: . Lao Yu’s feelings of donating desks and not being owed wages. . The scarcity and freshness of knowledge anchors. . The four kings are collectively absent or at a low ebb (Weiya, Li Jiaqi, Luo Yonghao, Simba). . Douyin needs to expand its e-commerce business. On the contrary, before the internal strife between Dong Yuhui and New Oriental management, did not have the chance to win the lottery, and the number of online users was usually dozens or hundreds. Lao Pi, the anchor of Xueersi, was even so ashamed that he cried in the live broadcast room. Among the dozens of viewers, many were parents and family members who were "just making up the numbers". Lao Pi graduated from Harvard University. As far as the school is concerned, he is several grades higher than Dong Yuhui. Even in today’s Dongfang Selection, among so many teachers, there will be no more Dong Yuhui. Those who are out of the circle take all the platform, and those who are not out of the circle can only stick to it hard, with extreme differentiation from head to tail. This is the normal state and law of live broadcast e-commerce. But luck cannot determine everything. This internal strife also gave Gaotu and Xueeryou a "gleam of hope." With the support of New Oriental and the recruitment of teammates from Dong Yuhui fans, Xueersi and Gaotu have made great progress in their live broadcasts.. Gaotu’s fans increased by more than 2 million. CEO Chen Xiangdong hugged several anchors and cried with joy: It’s great to win a battle! Xueersi Youpin has a maximum number of online users of 20,000, and its daily sales exceed one million. Although still cannot compare with Dong Yuhui in terms of scale, the second curve has seen hope. For them, Oriental Selection has already taken 90% of the first-mover bonus, which has a siphon effect. But who knows how long will be popular and what will happen in the future? After the Dong Yuhui incident, Dundun and Yoyo will be seen by more people, and Xueersi and Gaotu will also be seen by more people. Maybe, because of one or two inadvertent golden sentences, they will become a hot search and become popular on the entire Internet. Take Gaotu as an example. The cumulative sales of live broadcasts in a single day exceeded 11.8 million, and the number of viewers in the live broadcast room in a single day exceeded 13.55 million. Interestingly, Chen Xiangdong of Gaotu was also the CEO of New Oriental. Whether he is engaged in education and training or selling goods, Gao Tu is a model student who has followed New Oriental and achieved success. Moreover, it would also be a good thing for the platform to create more Eastern selections. On the one hand, Douyin is also afraid that Dong Yuhui’s IP, which has been pushed by one hand, will go solo or even go to JD.com. On the other hand, Oriental Selection's "de-shaking" also caused discord and suspicion between both parties. Douyin is to Dongfang Selection what Dongfang Selection is to Dong Yuhui.
Oriental Selection wants more Dong Yuhui, and Douyin also wants more Oriental Selection. In this way, neither party will be threatened by an oligarch. From the perspective of industry development, is also a benign transition from "unhealthy" to "healthy". money cannot be made by one person. consumers cannot have only one choice. When the three giants in education and training are involved in live broadcast competition, and when more talented anchors are seen, will bring cheaper products and better services to consumers. What brings to the industry is the improvement of the supply chain and high-quality development in competition. traffic needs to migrate, the market needs to be diversified, and consumers need to be more rational. This is inevitable for the healthy development of the industry. A good live broadcast market, brand should not gain popularity through mutual support, but should gain popularity through the product itself. In this internal strife incident, many people overestimated Dong Yuhui and underestimated New Oriental. The reason why Oriental Selection was the first to win the lottery of the times has something to do with its own accumulation. Lao Yu, the chairman of , has given hundreds of speeches in major universities for decades. This is the accumulation of the brand image that is deeply rooted in the hearts of the people. After New Oriental was hammered, it reappeared with a new lease of life. Many consumers pay for this kind of comfort and hope. They urgently need a bowl of chicken soup. As mentioned before, Dong Yuhui’s success is rooted in this fertile soil. The difference between Gaotu and Xueeryou and New Oriental is not only Dong Yuhui, but also Yu Minhong. has to admit that he opened the door to the marketization of education and training and became the first CEO of a teaching and training company in China to go public. was the first person he stood up to transform and built a moat after facing the black swan in the industry. was someone who decisively repurchased + donated desk books when others were selling their assets. With , he came up with the idea of transforming teachers into anchors, and by doing so, he gained a transformation cost that was far lower than that of his peers, and a profit margin that was much higher than that of his peers - there was no need to buy traffic, no need to give anchors a share, and no need to rely on MCN. is also him. He bowed his head when it was time to bow his head, and successfully resolved the conflicts among employees in stages, allowing the company to turn the corner in the capital market. The wisdom behind cannot be summed up by just one sentence of luck. Young people, the person who should empathize most is not Dong Yuhui, but the editor who first expressed his dissatisfaction. Many people support Dong Yuhui because "We seem to be supporting Dong Yuhui, but in fact we are protecting the kindness and integrity deep in everyone's heart..." sees himself working 996 every day, but always being low-paid and marginalized. This is really a misunderstanding. A host's image performance is very important, but the script is also very important. is like a Douban high-scoring movie, it must come from a wonderful story. This story is not written by the director, but by the screenwriter. A good symphony requires violinists and flutists, but what people often see is the conductor. In traditional media, outstanding editors and reporters are future candidates for president. Each of 's wonderful oral broadcast scenes was created by the editors scratching their heads and thinking hard. Dong Yuhui’s previous salary was said to be several million, while others said it was tens of millions, but the combined salary of subsequent writing teams was often less than 1/10 of his. Dong Yuhui’s famous classic chicken soup is:
When you are memorizing words, the Alaskan cod is jumping out of the water; when you are doing math, the seagulls in the South Pacific are passing by the coast; when you are studying in the evening, the polar circles of the earth are colorful. Beautiful; but boy, you have to realize your dream in person, and you have to see the world in person; those people you think you can't see, and the scenery you can't encounter will all appear in your life.Many of the original works in this paragraph were written by others, and Dong Yuhui was the second author. However, these people behind the scenes cannot reap flowers and glory in front of the stage like Dong Yuhui. can only occasionally prove his existence as an editor in the message area. and the proof is not in place, and he will be scolded by his fans. has a low sense of existence, low wages, a lot of work, a waste of brains, and a scapegoat... Isn't this the real "worker"?
Dong Yuhui has a very famous incident - "The price of grain hurts the farmers". When consumers asked why the corn cobs sold by Dongfang Zhenxuan were so expensive, he said that they sold them cheaply to farmers. But in the field of e-commerce, no matter how expensive the grain is, it has nothing to do with the farmers, because the extra money will not be distributed to the farmers. In the same way, Dong Yuhui’s victory has no direct relationship with the improvement of the e-commerce environment and the profits of consumers. When " mother-in-law mother-in-law " squeezed onto the bus and subway at 7 o'clock in the morning and frantically placed orders on her mobile phone, Dong Yuhui might be frying Alaskan cod and making an appointment with Yu Minhong to see the colorful polar circle. Why is live streaming so popular? because it itself satisfies not commodity consumption, but emotional consumption. This era requires emotional consumption. When people place crazy orders in Dong Yuhui’s live broadcast room, it is also to soothe their own emotions. reassured himself that after studying hard for many years, he still had not been able to gain a foothold in the city. He reassured himself that after being forced to change careers, he was still fighting against his fate. However, the health of this society and the beauty of the environment have nothing to do with consumption itself. Good business and good products do not require an emotional massage to stimulate consumption. Dreams need to be realized by yourself, and the world needs to be seen by yourself. After helped Dong Yuhui win, more importantly, he helped himself win. The victory of requires a clear mind first. For example, understand the essence of live streaming, such as how to call for industry fairness and how to prevent oligarchs from becoming dominant. if it is just to "let Dong Yuhui win". The ending is just that the melon is still sweet, but the reality is still bitter. 