Chapter 39, "Analysis of Pinduoduo's Profit Pull Based on the "Jiang Hao Curve" Model" In the library, Jiang Hao, a tall man with dyed yellow hair, is eye-catching. Jiang Hao was originally a bit handsome, and his long-term [exercise punching in] made him look very energetic. In March, he completed the [system attendance punching in] [with full attendance] and received a system reward of [+5 points for appearance]. Jiang Hao didn't know where the [5 points for appearance] was added, nor did he know how the [5 points for appearance] was calculated. He didn't even notice any changes in himself and felt that the system was tricking him. But in fact, this change in appearance is just like Jiang Haoran's hair: At first, Jiang Hao spent several hundred dollars to dye his hair yellow, and now he has spent several thousand on dyeing and perming his hair! Although there seems to be no obvious difference between dyeing and perming that costs a few hundred dollars and that costs thousands, if you look closely, the ones that cost thousands are actually better. With the [5-point appearance], Jiang Hao still looks more attractive. He is a handsome guy that makes people feel comfortable just by looking at him. No one will hate him after seeing him. Now, when facing those girls who are wearing revealing clothes, if Jiang Hao looks at them a few more times, those girls will not feel disgusted. Instead, they will feel very happy and proud that Jiang Hao looks at them a few more times. These girls who wear little are really afraid of being looked at by poor and ugly men; they are also afraid of not being noticed by handsome and tall, rich and handsome men. The change in their attitude towards Jiang Hao is the most telling.
Without caring about the looks of the people around him, after sending a message to Jiang Yiran, Jiang Hao wandered around the library. When Jiang Hao saw the words "" printed on the cover of the latest issue of "Economic Research Review" in the journal and magazine area of the library, he was very excited: his name has become the highlight of a top academic magazine. This is the second paper published by Jiang Hao. The Economic Review Research magazine took the initiative to invite Jiang Hao to submit an article. The title of the paper is "Analysis on Profit Pull of Pinduoduo Company Based on the "Jiang Hao Curve" Model". The "Jiang Hao Curve Analysis Method" was not named by Jiang Hao himself, but in the past few months, economists around the world named this analysis model after Jiang Hao when citing Jiang Hao's first paper. During this period of time, the number of citations to Jiang Hao's first paper has soared. "Jiang Hao Curve Analysis Method" suddenly became a hot topic in economics professionals all over the world. Including all journals in the field of economics, including "Econ top 5", almost every issue will have at least one research paper on "Jiang Hao Curve Analysis Method". This naturally led Pinduoduo to go global, and Pinduoduo has begun competing with Amazon in the European and American markets. After starting to expand their international vision, both CEO Zhou Tao in front of the scenes and Jiang Hao behind the scenes are no longer so afraid of Taobao in China. After Pinduoduo's Series B financing, Pinduoduo has entered a new era of rapid expansion. There is much less controversy about Jiang Hao online. Pinduoduo's daily active users have surpassed Taobao, and it has already started to go international. Pinduoduo's CEO Zhou Tao has appeared on the cover of Time magazine. At the age of 20, he has been pushed to the top of the storm and is enjoying unlimited glory! Jiang Hao finally gradually faded out of the public eye. "Brother, your paper! Oh my god, this foreign journal not only has your English version of the article, but also comes with your original Chinese version of the paper!" "That's awesome! This is the first time I've seen the original Chinese text in a foreign journal!" Sha Feiyang on the side excitedly shared his discovery with Jiang Hao, then mumbled, "I can't understand it!" Jiang Hao smiled and said, "You majored in physics, why do you need to understand economics papers!" Although Jiang Hao just smiled on the surface, he was actually very proud in his heart. Having a model named after himself, for Jiang Hao, this feeling is really much better than Pinduoduo's valuation of tens of billions or hundreds of billions. This "Jiang Hao Curve Analysis Method" named after Jiang Hao can clearly analyze the transmission mechanism of various business operations of enterprises through a new profit transmission model. It will not make a company more money and has no practical effect. It will not make money just because a company has learned this model. But it will make analysts wise, not be confused by various messy business appearances, and get to the business essence of the enterprise directly. In particular, the "profit constraint" analysis in this curve can analyze the transmission impact of different profit margins in different enterprises.
The core of the "Jiang Hao Curve" is very simple: high profit margins are not necessarily a good thing in the long run; and low profit margins are not necessarily a bad thing in the long run. The core content seems to be nonsense, but what is valuable is that the "Jiang Hao Curve" brings a clear transmission mechanism. The profit margin of Pinduoduo Technology Company has always been negative and frighteningly low, but why is it always sought after? This is because under the analysis of the "Jiang Hao Curve", the variable of "negative profit margin" means that future profits will increase exponentially. This "Jiang Hao Curve" model has been accepted by major financial institutions around the world, and the CFA professional examination has already made the "Jiang Hao Curve" a key test point. At the top of the tenth meridian, in an office in a certain compound, Sha Yan'an was reading documents carefully. Recently, a new Internet company, Pinduoduo, has emerged in the province. The province has been shocked by the boost this new company has given to the province's economy. As a leader, Sha Yan'an must ensure that: on the one hand, we must seize new opportunities to inject new vitality into the province's manufacturing industry, help them actively integrate into the Pinduoduo platform and open up new markets, and also use the Pinduoduo platform to develop overseas markets and help the province's manufacturing industry transform and upgrade; On the other hand, he must also actively seize new opportunities, develop new Internet economic industry tracks, and increase the proportion of the tertiary industry in the province's economy. "Bang bang bang~" The door of Sha Yanan's office was knocked. Seeing his old classmate Gao Yuhong walking into his office, Sha Yanan took off his glasses, rubbed his eyes, and said with a smile: "Yuhong, you're here!" Gao Yuhong smiled and said, "I want to report to you about some matters concerning the provincial integrated refining and chemical reform project." "Okay!" Sha Yan'an nodded. As the representative of the province's manufacturing industry, the local refining industry is the key to the transformation of the province's economic new and old drivers. Sha Yan'an is also very concerned about this. Gao Yuhong handed Sha Yan'an a thick report paper. After glancing at the title "Future Research Report on Local Refining and Petrochemical Industry Based on Chaos Principles" and briefly looking through the various complex mathematical formulas in the report, Sha Yan'an smiled and said, "Hahaha, Yuhong, you are testing me. I can't understand math!" Gao Yuhong said hurriedly, "Leader, this is the academic analysis result of our project topic. There are two copies in total. The first copy you are holding is a purely academic analysis, and the second copy is a briefing I compiled with some mathematical content removed." "But even though I wrote the brief, I still brought you the original text." "Because even though I put a lot of effort into compiling the briefing, I still feel that it's a little bit lacking. I still hope you can read the original text directly from the author." Sha Yanan became interested when he heard it, and when he saw the author of the report, he raised his eyebrows: "Jiang Hao? Is he the Jiang Hao who is one of the founders of Pinduoduo and published two economics papers?" (End of this chapter)