In the world of the internet, memories circulate constantly, accompanied by waves of emotion. For Jia Yueting, creating marketing events like “selling a Maybach to switch to domestic new energy vehicles” can bring him widespread attention online once again, making him the focus.
Business IP has gradually become a coveted label for entrepreneurs. On May 7th, Jia Yueting, who is in the United States, released a video announcing the commercialization of his personal IP. He hopes to earn some money through this to pay off debts on one hand, and on the other hand to support company operations and subsidize the car-making business to ensure the basic maintenance and operation of Faraday Future (FF).
Since the beginning of this year, Jia and his company Faraday Future have been in a difficult situation, with the company at constant risk of delisting, and the story of “building cars to repay debts” increasingly seems like an unrealistic dream. Despite this, Jia has been quite active on social media this year. He has expressed disappointment with Apple’s abandonment of its car project, announced lawsuits against Ding Lei and Hozon New Energy Automobile for theft and intellectual property infringement, commented on Xiaomi’s car-making venture, and had several public conversations with Zhou Hongyi. Although he missed the boom in the car manufacturing industry, he doesn’t seem to have missed any hot topics in the car circle.
Currently, Jia Yueting does not seem content with just riding the wave of trends; he wants to quickly monetize his personal business IP while his reputation still remains. But in an era where many entrepreneurs see IP management as a strategy, it’s questionable whether he, burdened with heavy debts, will be able to find his place.
In terms of social media influence, Jia Yueting still holds a certain advantage. Thanks to his emphasis on new media during his LeEco era, Jia’s Weibo followers have reached 15 million, ranking him second only to Lei Jun among current updating entrepreneurs. Although he was late to join platforms like TikTok, he quickly gained over a million followers, and his growing popularity is proof of his appeal on the platform.
However, compared to his high profile on social media, what really made Jia Yueting stand out is the widely discussed joke “returning to China next week.” Although it has been over seven years since he went to the US in 2017, “returning to China” remains an indelible label on him. In recent years, he has been continuously shaping his image online as a debt-repaying car maker and builder of bridges between the Chinese and American automobile industries. Together with the classic brand slogan “suffocated by dreams,” he has indeed won some support among certain groups.
In recent years, with the domestic new energy vehicle industry flourishing and internet and tech companies eagerly entering the car-making field, this phenomenon highlights the foresight of the LeEco car-making era. Jia Yueting, as an entrepreneur, has used unconventional means to gain attentionāthe mantra “notoriety is also a form of popularity” reflects his marketing strategy. Although Zhou Hongyi was once questioned by shareholders for suspected “divorce-style reduction” and some of his products have only moderate online reputations, this has not prevented him from becoming a focus in the online world once again.
With Zhou Hongyi’s rising attention, more and more companies and brands hope to collaborate with him, with the “798 Mini Car Show” outside the 360 Building as clear evidence. Although the internet world has a short memory, using Jia Yueting as an example, it’s not difficult to attract the internet’s attention again with the help of marketing events.
While it is relatively easy to garner attention, transforming this attention into revenue requires careful consideration. Lei Jun’s commercial IP strategy is a successful example: not only repeatedly attracting public attention through social media, saving a substantial amount on marketing expenses, but also leveraging his personal influence to help products penetrate the market and strengthen user recognition. After venturing into the automobile domain, Lei Jun further implemented this strategy, inspiring other car company executives to step into the front line and boost sales through social media and live streaming.
In contrast, Jia Yueting’s Faraday Future has to date only delivered a meager 11 vehicles, all of which were recalled, making it evident that a commercial IP strategy like Lei Jun’s lacks fertile ground in his caseāwithout products, there can be no sales drive. Faraday Future’s current situation is not one of unwillingness to sell, but rather an absence of products to sell.
For Jia Yueting, entering the live commerce industry might seem promising at the moment, yet profit margins are increasingly slim, such that even if he can sell products through live streaming, the profits earned would still be a drop in the bucket for him. However, rapidly expanding a base user group through live streaming sales, then achieving capital operation through backdoor listing, is also a potential way out. This approach has been tested by people like Luo Yonghao.
Jia Yueting claims that the wealth gained through commercial IP operations will go into debt repayment, company salvation, automotive subsidies, and more, each requiring a large amount of capital. Furthermore, like other internet entrepreneurs, Jia Yueting can also choose to utilize short video platforms for knowledge monetization and online private board meetings. Jia’s previously praised ecological anti-marketing strategy could attract a following of loyal supporters.
In today’s business landscape, the concept of “commercial IP monetization” is hardly novel; many practitioners attempt to make it a part of their earnings. However, despite its potential for certain economic benefits, it still offers relatively limited assistance to a company’s long-term development. As we have discussed before, the business ceiling based on commercial IP is relatively low. Even if these efforts succeed in raising capital, for a troubled enterprise like Faraday Future, it still falls short of being a quick fix.
So why would Jia Yueting choose to conspicuously monetize his commercial IP in public? The reason might be traced back to Faraday Future’s current delisting crisis. In April this year, Faraday Future’s stock price fell below $0.10 for ten consecutive trading days, which greatly increases the likelihood of being delisted by NASDAQ. To raise the company’s stock price in the short term, Jia Yueting claims he will increase company revenue through the commercialization of his personal IPāseemingly the last resort he could think of for the company.
In the domestic market, the operation of commercial IP has become trendy. Nonetheless, Jia Yueting seems to still hope that he can garner attention and interest from American investors through this method. However, according to domestic market experience, even if a personal IP can attract remarkable attention, it does not necessarily lead to a rise in the company’s stock price. For instance, although Zhou Hongyi has become the center of public attention, the stock price of Qihoo 360 has not seen significant improvement. Behind this, perhaps, is the fact that the company’s current performance is not meeting expectations, coupled with Zhou Hongyi’s past actions that have made investors wary.
For Faraday Future, whether the stock price can be boosted still depends on the attitude and confidence of American investors. Additionally, Jia Yueting’s desire to leverage his personal IP for financial growth must also confront past negative news in China and creditors who may come demanding debts. Although Jia Yueting is now in the United States, avoiding the sanctions of Chinese law, he may still encounter other forms of negative feedback and retaliation if he wants to make a big impact in the Chinese market.
Last year, Luo Min of Qudian Group also tried to create a pre-packaged food brand through his personal IP and frequently endorsed it on TikTok. However, due to the exposure of his negative past records, he suffered a significant backlash, and this attempt ended in failure. Jia Yueting, who has experienced ups and downs in the internet industry for many years, would certainly have insights into such matters. From a personal perspective, while utilizing a commercial IP may yield some benefits, if it’s considered as a stepping stone for a comeback, it still seems insufficiently powerful. Therefore, for Faraday Future, being flexible and adapting to changes in the situation and taking profits in a timely manner could be wiser.
Jia Yueting, this closely-watched business figure, has recently shown his intention to profit quickly again. The former founder of LeEco, despite having gone through business fluctuations and public opinion storms, has not ceased his attempts and pursuits in the business world.
Public opinion is quite divided regarding Jia Yueting’s new moves in the business world. Some are hopeful that he can create more value in new fields, drawing from his past experiences and lessons. On the other hand, others view him with skepticism, worried that he may repeat his previous missteps of over-expansion.
No matter how the outside world comments, Jia Yueting seems unaffected and still adheres to his business plans and concepts. His commercial activities keep the nerves of both investors and observers on edge, as everyone watches whether this business figure can capture the opportunities of success in the unpredictable market.
[ad_2]
