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20 entrepreneurial stories, Lei Jun tells Xiaomi's ten years

On August 11, in Xiaomi science and Technology Park, Lei Jun, founder, chairman and CEO of Xiaomi company, gave a speech for three hours. He reviewed Xiaomi's ten-year entrepreneurial history with 20 entrepreneurial stories, including recruiting people to start a business, 100 MIUI seed users, and gambling with Dong Mingzhu.

Lei Jun announced that the next ten years will focus on the three development strategies of "re starting business, Internet plus manufacturing and stabilizing the company". At the same time, Lei Jun also announced the three iron laws of millet development: "technology-based, cost-effective as the key, do the coolest products.".
20 entrepreneurial stories, Lei Jun tells Xiaomi's ten years
100 dream sponsors

Lei Jun recalled that in the first year of Xiaomi's founding, he spent 80% of his time recruiting people. He didn't know the hardware, so he started with software. "At that time, when Android started, we became the first batch of Android manufacturers in China. But after all, the operating system is an operating system, and the amount of work is quite huge, which can not be done by a small team of about ten people. "

Xiaomi made the four most important functions at that time, such as calling, texting, address book and desktop, and set up a forum to recruit volunteers to "brush up".

"What moved us was that 100 users were willing to take a huge risk to brush up on MIUI, the 100 dream sponsors we are familiar with."

In less than a year, the number of MIUI users exceeded 300000.

Bet with Dong Mingzhu

In his speech on the 10th anniversary, Lei Jun also talked about the 1 billion "bet" with Dong Mingzhu. He said: "we have done a lot of stupid things, such as gambling with Dong Mingzhu."

"In 2013, we were selected as China's economic person of the year. The director told us backstage," can you be more lively? I said, "yes, let's have a bet with Dong Mingzhu. I'll bet one dollar on whether Xiaomi's revenue can exceed Gree's in five years?"
20 entrepreneurial stories, Lei Jun tells Xiaomi's ten years

But as soon as he came to power, Dong Mingzhu changed the "gambling contract" between the two sides to one billion yuan. "I was deceived at that time. Why didn't Mr. Dong follow the script? The billion yuan will certainly become a social topic."

In five years, Xiaomi rose from more than 20 billion yuan to 174.9 billion yuan, an increase of 8 times. However, Gree's revenue increased from 120 billion yuan to 1980 billion yuan, an increase of 60%. Finally, Xiaomi still lost.

What's more dramatic is that in the second year after the end of the bet, Xiaomi's revenue exceeded Gree's.

"Every time I think of gambling, I regret it." Lei Jun said, "I dare to bet with Gree because at that time, our confidence was really expanding. Soon, Xiaomi encountered a lot of growing pains. "

Highlight moment of Xiaomi

In addition to the stupid things he did, Lei Jun also shared the stories of the three highlight moments he remembered most in the past decade. In 2018, Xiaomi landed on the Hong Kong Stock Exchange as the first "same share but different rights" technology share. In 2019, Xiaomi finally owned its own property, Xiaomi Science and Technology Park, and Xiaomi became the youngest Fortune 500 in the world in the same year Rice rose 46 places to become the most powerful technology innovation company. "
20 entrepreneurial stories, Lei Jun tells Xiaomi's ten years

In the year when Xiaomi entered the top 500, Lei Jun once said: "I started to start a business as soon as I graduated from university. I especially envied Lin bin. They had the opportunity to work in the top 500. Now they are finally able to work in the top 500. We have to have a good time.

Lei Jun showed the changes of Xiaomi's revenue in the past 10 years. Now Xiaomi ranks 422 in the top 500. In 2019, the total revenue reaches 205.8 billion yuan, and the adjusted net profit is 11.5 billion yuan. In 2020, the R & D investment is expected to exceed 10 billion yuan.

According to Lei Jun, Xiaomi has been selected into the world's top 500 for two consecutive years. But Xiaomi is always compared with the old world 500. "Apple, Samsung and Huawei. I admit that Xiaomi is not as good as them today, but Xiaomi has done a good job. As a 10-year-old boy, Xiaomi has many shortcomings, but we should see more flash points. "

In his opinion, what he is most proud of is not listing and being selected into the world's top 500, but promoting the popularity of smart phones and accelerating the take-off of mobile Internet; driving the reform of 100 industries and making a large number of entrepreneurs; and Xiaomi has also changed the fate of many people.

"Beipiao" millet, not only selected in the world's top 500, but also has a "house" in Beijing. In July 2019, Xiaomi science and technology park officially opened. For this reason, Lei Jun specially sent a micro blog: "Beipiao, struggling for more than nine years, finally bought a house! Eight buildings, 340000 square meters, with a cost of 5.2 billion yuan. "

20 entrepreneurial stories, Lei Jun tells Xiaomi's ten years
To make "manufacturing"

In the 3-hour speech on the same day, Lei Jun also released three "Super Cup" products, including Xiaomi 10 supreme commemorative edition, Hongmi redmi K30 supreme commemorative edition with ultra-high cost performance, and Xiaomi transparent TV. In addition, Xiaomi ecological chain product No. 9 go kart Pro Lamborghini auto customized version was also released at the meeting.
20 entrepreneurial stories, Lei Jun tells Xiaomi's ten years
Xiaomi intelligent factory also met with you for the first time in this speech. According to Lei Jun, Xiaomi intelligent factory in Yizhuang, Beijing, is the product of Xiaomi's Internet enabled manufacturing industry. With a total construction area of 18600 square meters and an investment of 600 million yuan, it has become an intelligent "black light factory". The so-called "black light factory" can realize the whole process automation of production management process, mechanical processing process and packaging, storage and transportation process.

20 entrepreneurial stories, Lei Jun tells Xiaomi's ten years
We have sincerely cooperated with Xiaomi in the design and manufacture of high-end mobile phones, and have continued to cooperate with Xiaomi in the design and manufacture of high-end equipment. The transparent version of Xiaomi 10 supreme commemorative version released by this activity is produced by the factory.

Lei Jun said that in the next decade, intelligent manufacturing will further boost the rise of Chinese brands. Xiaomi industrial fund has invested in more than 70 semiconductor and intelligent manufacturing companies. "What Xiaomi will do in the future is" manufacturing "to help more manufacturing enterprises realize intelligent manufacturing."

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