53: Chapter 53 The Collapse of P2P

That day, the internet was suddenly flooded with all kinds of news:

"Holy crap! Jinyin Finance collapsed? The boss got arrested!"

"Erpai Loans ran away too? They were bombarding us with ads just a while ago!"

"My invested money is gone? I heard it was all embezzled!"

"I should have known better than to trust that 10% high return. I'd have been better off just keeping my money in Fetion's Yulibao!"

These two P2P companies had previously attracted many investors with their high-return promotions, and with capital injections, each had total funds of just over 10 billion.

But who could have imagined that Chen Mo's one hundred thousand fake identities had milked 500 million from each of the two companies.

A month later, these 'borrowers' completely disappeared, not even a trace of repayment.

The two companies were thrown into complete chaos, unable to fill the 5 billion hole.

What's worse, after the news leaked, investors went crazy trying to withdraw their funds. The companies couldn't produce the money, and in the end, they could only call the police. The bosses and senior executives were all taken away.

Chen Mo looked at the discussions online, leaning back in his office chair without much expression.

He felt no sympathy for those investors. They knew it was usury but still jumped in. They made their bet and lost.

Compared to those in his previous life who lost everything, they were lucky to recover half their principal.

But he still underestimated the greed of capital.

Just as these two P2P companies went cold, Alibaba made a major move with capital:

ZFB officially launched 'Jiebei'.

"Jiebei allows you to borrow money and withdraw it directly, it's different from Huabei!"

"The interest isn't low, it's much higher than bank loans!"

"Is Alibaba following the trend into online lending?"

Netizens were buzzing with discussion.

Looking at the news, Chen Mo felt both amused and exasperated.

In his previous life, Jiebei wasn't launched until 2015. Clearly, Alibaba and the capital were having too hard a time and played their card early.

He knew perfectly well that Jiebei's money most likely came from banks. They profited from the interest but shifted all the risk to the banks—a classic case of high profit with little investment.

"Since you want to play, I'll play with you to the end."

Chen Mo gave a cold laugh and immediately had his people make arrangements.

Not long after, Fetion launched 'Fetion Spend', with a credit limit directly twice that of Jiebei and interest rates even lower than Jiebei's.

No one knew that Chen Mo's big data was far superior to Alibaba's, and his risk control was much more precise.

He launched Fetion Spend not to make money at all, but purely to steal Jiebei's customers.

Once he filled the credit limits of those 'leeks' who loved borrowing money and turned them into bad credit risks, he'd see how the other online lending companies could keep playing.

Moreover, as long as these people had money in their bank cards, it would be prioritized to deduct and repay Fetion Spend, shifting all the risk to other platforms.

After dealing with Alibaba, Chen Mo set his sights on Tencent.

Baidu had long been ground into the dust by Tianxing Search, barely clinging to life with half a breath left. Now it was Tencent's turn.

Tencent's biggest money-makers were CF and DNF, bringing in tens of billions in profit every year.

Chen Mo was well-prepared. Tianxing Games directly made an official announcement:

Launching the second heavyweight game after 'League of Heroes':

'PlayerUnknown's Battlegrounds' (commonly known as 'pubg').

As soon as the news broke, the gaming community instantly erupted.

'League of Heroes' already dominated half the market. Now, with a new shooter game, it was clearly aimed at CF.

In Ling Jing's Tianxing Live stream, it was even more lively.

Now, Ling Jing was a big streamer with two million followers. Her stream viewership consistently stayed between thirty to fifty thousand, all genuine popularity, unlike other platforms that relied on fake numbers to prop up the scene.

"Hey everyone, today we're playing the newly released pubg!"

Ling Jing opened the game enthusiastically, only to get eliminated as soon as she landed.

"Hahahaha! Eliminated on landing!"

"Streamer, with skills like that, maybe you shouldn't touch shooter games!"

"The number one person in reverse promotion!"

The chat instantly flooded the screen.

Ling Jing, Unconvinced, pulled her roommate Nalan Ruoshui to team up.

Nalan Ruoshui didn't show her face, only speaking through the headset. The two of them played while bickering.

"It's all your fault! You didn't cover me just now!"

Ling Jing pouted and complained.

"You ran too fast, I couldn't keep up."

Nalan Ruoshui said helplessly.

"Besides, even if I covered you, you wouldn't have hit them."

"How could I not hit them! I was just a little off!"

"Being a little off means you didn't hit them."

"The chemistry! The chemistry! The streamer and her roommate are so sweet!"

"The roommate's voice is so nice, she must be a beauty!"

"We beg the roommate to show her face!"

The viewers joined in the teasing, and the stream's heat shot straight to the top of the platform's rankings.

Meanwhile, at Tencent headquarters, watching the download numbers for 'PlayerUnknown's Battlegrounds' climb steadily while CF's concurrent users continued to decline, the executives in charge of CF could only fret helplessly.

They knew Chen Mo was coming for their slice of the pie again, but facing the strong of Tianxing Games, they had no recourse.

The crushing dominance of 'League of Heroes' was still fresh in their minds.

Just as Ling Jing started another game, the viewers suddenly noticed a third person in their team. The ID clearly belonged to a man.