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我就喜欢
2021-05-13
生出来一堆孩子,然后因为教育资源的不公平又不能上辅导班,考上不了大学,找不到工作,回来啃老?
抱歉,原内容已删除
我就喜欢
2020-06-13
后面猿辅导拿了10美元的融资…现在的媒体越来越不负责任…
浑水创始人独家回应:为何做空跟谁学
我就喜欢
2020-06-03
$跟谁学(GSX)$
晚上能上40不?来来来,下注了,买定离手!
我就喜欢
2020-06-03
$跟谁学(GSX)$
长风破浪会有时,直挂云帆济沧海!
我就喜欢
2020-05-26
$跟谁学(GSX)$
加仓到特朗普下台!支持我的就点个赞吧!
我就喜欢
2020-05-14
$跟谁学(GSX)$
这个股票也真是神了。做空一波波的都扛住了。现在一波利好,却天天跌…放弃了!拜拜
我就喜欢
2020-05-13
$跟谁学(GSX)$
[开心]
跟谁学被纳入MSCI全球标准中国指数
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2020-05-12
$跟谁学(GSX)$
不管做多做空,为了利益,冲吧!韭菜们!别管报告,别管拉盘,相信自己!资本市场没有真相,更没有真假,只有输赢!
我就喜欢
2020-05-12
$跟谁学(GSX)$
怎么看不到盘前交易
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2020-05-06
$跟谁学(GSX)$
开盘居然开跌了…
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2020-05-04
$跟谁学(GSX)$
群里某些空军已不仅仅是唯利是图这么简单了,而是通敌卖国的叛徒!你们将被钉在历史的耻辱柱上,利用疫情发国难财,勾结…扰乱人心,其司马昭之心路人皆知!
我就喜欢
2020-05-01
$跟谁学(GSX)$
好多空军提出gsx不要总是停留在口头上,要起诉付诸于行动,不要只是谴责!那你的意思我们外交部不应该总是谴责美国和台湾,要直接开战是吗!更何况你们都以为人家跟你一样闲吗?人家要忙着启动武汉万人招聘计划,还要忙着召开高层电话会议,推进q1财报发布等等!就算要打官司收拾坏人也得得空腾出手来吧!凡事有轻重缓急,身正不怕影子斜!不过要是真的丢下业务去打官司,你们这些喷子又会说如果不是造假干嘛这么着急反击,用业绩证明就好了,所以想搞你的人会有一万个理由搞你,做好自己的事才是最明智的!加油!用业绩证明!用结果说话!至于股价,你说了算👍
我就喜欢
2020-04-27
$跟谁学(GSX)$
拭目以待!
GSX Techedu to Report First Quarter 2020 Financial Results on May 6, 2020
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2020-04-24
$跟谁学(GSX)$
我觉得买股票是为了挣钱这个没毛病,不管做多还是做空都是投资手段!挣钱不可耻,但总是打着正义使者的旗号去挣钱很可耻!有本事就去好好找证据去好好打假!别告诉我你现在做空是为了逼你认为的造假股票退市!你卖空是为了维护市场公平!那SEC该请你当高级顾问了,特朗普该给你颁荣誉勋章了!
我就喜欢
2020-04-23
$跟谁学(GSX)$
打着分析跟谁学的旗号来给好未来打广告!
关于跟谁学长期盈利性的一些观点
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2020-04-21
$跟谁学(GSX)$
其实空军的脑路很简单,因为跟谁学和瑞幸一样都是新股,明显就是欺负新人,加上业绩万里挑一难免觉得做空这个赌局赢面大,所以什么做空报告、商业纠纷、集体投诉、集体诉讼(目前就一个人也算集体?)都是浮云,完全就是中国式跟风!跟中国式过马路差不多,我只能说拭目以待吧!
我就喜欢
2020-04-21
大家冷静点,不要自乱阵脚!
北京郝俊波律师事务所:已提起全球首例跟谁学集体诉讼
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2020-04-20
$跟谁学(GSX)$
晚上上35,明天给儿子摊煎饼多加一个鸡蛋[爱心]
我就喜欢
2020-04-20
$跟谁学(GSX)$
一招辨水军:是否大量使用重复性语言!大家仔细看看是不是很多空军发的帖子都似曾相识?
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2020-04-19
$跟谁学(GSX)$
从现在开始,不再理会任何空军!只是安静地看他们:输惨了-抓狂-乱咬人-输得更惨这样恶性循环的情绪表演!
去老虎APP查看更多动态
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年以K12(一年级至高三阶段)在线教育为主营业务的公司,2019年6月登陆美国纽交所,成为中国第一家在美上市的K12在线教育机构。过去...</p>\n\n<a href=\"http://gu.qq.com/resources/shy/news/detail-v2/index.html#/?id=nesSN2020061218522979e8271d&s=b\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/85b27e74fe34a252689a2e1f84553a0e","relate_stocks":{},"source_url":"http://gu.qq.com/resources/shy/news/detail-v2/index.html#/?id=nesSN2020061218522979e8271d&s=b","is_english":false,"share_image_url":"https://static.laohu8.com/9a95c1376e76363c1401fee7d3717173","article_id":"2042848274","content_text":"“Liars lie(骗子的谎言)。”——6月10日,做空机构浑水(Muddy Waters Research)创始人卡森·布洛克(Carson Block)在邮件回复经济观察报采访函时,对中概股公司跟谁学(GSX.US)做出这样的评价。跟谁学是一家成立于2014 年以K12(一年级至高三阶段)在线教育为主营业务的公司,2019年6月登陆美国纽交所,成为中国第一家在美上市的K12在线教育机构。过去的3个多月,这家在线教育企业连续遭遇灰熊(Grizzly Resarch)、香橼(Citron Research)、浑水、天蝎创投——4家机构的9次沽空,指责其涉及虚增收入、用户数量真实性存疑等问题。此前,这家公司在业内并没有引起太多关注。“增长快、利润高”,被视为引发做空机构关注的主要因素。浑水方面对经济观察报表示,“我们是从今年1月份开始调查跟谁学,它好得令人难以置信——增长非常快,利润也高。而据我们的印象,它比起好未来和新东方的市场份额,与其所提供的数值是有差别的。”浑水创始人卡森·布洛克称:“我们的兴趣是做空欺诈性质的公司,尤其是当他们接近完全诈欺或者是完全诈欺的时候。至于跟谁学,它不只是接近完全诈欺,它还有巨大的市场价值,所以从商业角度来说这是一次很棒的沽空。”面对9份做空报告,跟谁学方面予以了否定和批驳。针对做空机构香橼质疑其虚增收入70%,跟谁学方面认为,香橼遗忘了K12课外辅导收入的主要来源为跟谁学旗下品牌高途课堂等,在浑水二次报告中提出的跟谁学在回应机器人刷单中遗漏了“代理id”、“代理策略”和 “时间戳”三个关键信息,跟谁学方面也逐条回应了为何会出现这些情况。跟谁学是否存在虚增收入?公司与做空机构仍僵持不下。多数业内人士倾向于相信跟谁学方面,但也有一些认为,跟谁学并未完全解释清其高增长中的一些具体问题。一位行业人士对经济观察报表示,这种怀疑主要来自于跟谁学与整体互联网企业发展的轨迹,包括财务表现很不一致。依据互联网教育行业发展缓慢的特性和实现盈利的难度,在竞争充分的K12领域,跟谁学居然打破了这样的成本结构,上市就赚钱,不光赚钱还实现了每年400%的高速增长,它是怎么做到的?6月9日,谁学创始人陈向东出现在公司6周年发布会上,身着T恤牛仔裤的他,在当天分享了重新定义在线直播大班课。一位跟谁学管理层人士对经济观察报表示,做空事件对公司业务并没有任何影响,但通过这个外部事件促使我们也开始思考,是否之前与外界沟通太少,当我们已经意识到成长为一家头部公司,需要以一个更加开放、主动的姿态与外界沟通、交流。做空、做空4家机构9次做空,为什么是跟谁学?多位教育行业人士将源头指向了跟谁学的高增长。公开资料显示,跟谁学早期以连接老师和学生的教育O2O平台起家,惨淡经营三年后,在2017前后转型B2C模式,后聚焦to C业务,发力K12在线直播大班课,至此进入快行道。目前其旗下主要品牌有跟谁学、高途课堂、成蹊商学院等品牌。课程涵盖小学、初中、高中全科以及语言、职业和兴趣教育等多个品类。其中提供K12在线B2C直播业务的高途课堂占其营收主要地位。自上市以来,跟谁学始终保持高速增长。根据其2020财年第一季度财报,本季度实现营收12.98亿元,同比增长382%;净利润1.48亿元,同比增长336.6%。2019财年报告显示,跟谁学全年净收入为21.149亿元,同比增长432.3%;净利润为2.27亿元,同比增长1050.3%。前述教育行业人士告诉经济观察报,互联网教育行业有其特殊性,2013年成立的51Talk,差不多去年才实现单季扭亏为赢。随后上市的流利说、网易有道等业绩表现也不断印证了教育产业是一个长周期、重运营的行业。该人士说,“中国市场的各种二级市场从业者,包括投行劵商,对教育行业已经有了一定认知:在互联网教育领域虽然也能盈利,但运维成本、老师成本、获客成本都注定项目很容易亏损,是慢慢靠着用户转化,摊薄市场营销成本才有可能实现微薄的市场盈利。而跟谁学作为互联网教育企业,增长与利润表现很不一样,自然有很多机构会去研究它,提出质疑。”为何能在短时间内快速崛起并实现连续盈利?外界普遍认为,跟谁学采用在线直播大班课——一位名师通过互联网技术同时在线为500名、1000名学生上课,可以把产能无限扩大。前述跟谁学公司管理层人士把跟谁学利润高解释为,把每一个关键环节都做得好一些。“比如说,获客成本比别人低一点,客户就来了,转化好一点,服务又好一点,家长满意就会续费扩科,K12阶段学生学业的科目越来越多,需求越来越多,效果好也会把课程介绍给别人,这每一点都有可提高的空间,最终会对公司的效率产生影响。”也有行业人士把跟谁学的高利润归结于早期通过微信生态的流量红利。一位行业人士对经济观察报表示,“微信那一拨,跟谁学拿了一拨很广泛的红利,有一个优质的基础池子。K12主要成本主要是获客+老师工资。大班课在财务模型上最接近理想状态,再以名师进行获客,说白了没什么不可能盈利。”梧桐树资本投资总监董帅认为,跟谁学在线大班课的商业模式已经非常确定。核心就是在名师、在下沉市场、在高中阶段做得比较明确,与竞争对手形成差异化打法,而且最近在长短音视频布局获取新流量以及其对名师的把控力,确实有一套自己的打法。但行业人士也表示,问题的分歧点在于跟谁学首年即实现盈利。一般K12在线企业普遍首年盈利很难,基本都是第一年亏损,然后靠续费、扩科等摊薄成本,在亏损持续递减后盈利。后续压力截至北京时间6月12日上午,该公司股价为39.5美元,市值94.3亿美元。而在2月24日第一家做空机构灰熊发布报告前,其市值一度为108亿美元。透镜公司研究创始人况玉清认为,做空报告没有找到确实证据以及足够富有冲击力。“包括瑞幸,浑水在做空之后,瑞幸股票确实跌了一点,但后来又回来了。但机构确实会通过报告倒逼审计机构。另一方面也取决于企业自身业绩是否过硬。像之前的新东方,在多轮做空报告之后,还能屹立不倒。”浑水创始人卡森·布洛克对经济观察报表示,“我们之前已经预见到这种情况,完全诈欺或者近似完全诈欺的机构,可以在较短时间内将它的股价维持在高位。我们几乎不怀疑当尘埃落定后,跟谁学的股票会以远低于如今的价格大量交易。”上述跟谁学管理层人士对经济观察报表示,做空事件对内部业务没有产生任何影响,内部也没人专门谈论这件事情。在其看来,“做空机制本身是美国市场一个正常机制。就像公司CFO沈楠所说,达到以小恶治大恶的目的。但比较恶意的,希望通过一些手段谋取利益的方式,肯定是不太正常的。”一些变化正在这家教育企业显现。以往鲜少与外界沟通的跟谁学及其创始人陈向东开始出现频繁出现在媒体面前。上述跟谁学管理层人士表示,“过去三年,我们很少面对媒体。通过做空事件,也促使我们思考是否公司以前与外界沟通交流太少,那我们就尽量与多沟通。”一位在线培训机构负责人认为,始终保持高增速发展恐怕很难。比如,微信红利随着各家平台不断进入,跟谁学一样面对获客压力和市场竞争。另外,严重依赖名师如何平衡企业与名师利益分配。跟谁学六周年发布会所述,用大班授课达到1对1的感受,如何解决辅导老师在千人班课与主讲老师的配比,数据量、技术等等,都有待进一步观察。前述不愿透露姓名的教育行业人士表示,K12在线教育是红海市场。跟谁学凭借先发优势进入下沉市场,但随着猿辅导拿了10美元融资、学而思网校出于战略考虑大幅投入资本,竞争一定会越来越激烈。跟谁学业绩表现这么良好,各企业间通过挖人也好,研究(商业模式)也好,不可能因为其提前进入下沉市场就一劳永逸。","news_type":1},"isVote":1,"tweetType":1,"viewCount":2264,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":958362982,"gmtCreate":1591175520646,"gmtModify":1704194644583,"author":{"id":"3549980393503187","authorId":"3549980393503187","name":"我就喜欢","avatar":"https://static.tigerbbs.com/e295176ca301becfb72e7a80771ab6d7","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3549980393503187","authorIdStr":"3549980393503187"},"themes":[],"htmlText":"<a 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href=\"https://laohu8.com/S/GSX\">$跟谁学(GSX)$</a>加仓到特朗普下台!支持我的就点个赞吧!","text":"$跟谁学(GSX)$加仓到特朗普下台!支持我的就点个赞吧!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":8,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/953561148","isVote":1,"tweetType":1,"viewCount":2020,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":950292012,"gmtCreate":1589385920136,"gmtModify":1704189759817,"author":{"id":"3549980393503187","authorId":"3549980393503187","name":"我就喜欢","avatar":"https://static.tigerbbs.com/e295176ca301becfb72e7a80771ab6d7","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3549980393503187","authorIdStr":"3549980393503187"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/GSX\">$跟谁学(GSX)$</a>这个股票也真是神了。做空一波波的都扛住了。现在一波利好,却天天跌…放弃了!拜拜","listText":"<a 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href=\"https://laohu8.com/S/GSX\">$跟谁学(GSX)$</a>[开心] ","listText":"<a href=\"https://laohu8.com/S/GSX\">$跟谁学(GSX)$</a>[开心] ","text":"$跟谁学(GSX)$[开心]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":11,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/950695393","repostId":"2035980447","repostType":2,"repost":{"id":"2035980447","pubTimestamp":1589362740,"share":"https://www.laohu8.com/m/news/2035980447?lang=&edition=full","pubTime":"2020-05-13 17:39","market":"us","language":"zh","title":"跟谁学被纳入MSCI全球标准中国指数","url":"https://stock-news.laohu8.com/highlight/detail?id=2035980447","media":"新浪证券","summary":"5月13日,全球最大的指数公司明晟公司(MSCI)发布了2020年的半年度指数评估结果,将于5月29日收盘后生效。本次审议结果仅涉及个股的调整,不涉及扩充。\n其中,MSCI全球标准中国指数剔除了10只","content":"<p>5月13日,全球最大的指数公司明晟公司(MSCI)发布了2020年的半年度指数评估结果,将于5月29日收盘后生效。本次审议结果仅涉及个股的调整,不涉及扩充。</p>\n<p>其中,MSCI全球标准中国指数剔除了10只个股,同时纳入了10只新股,<a href=\"https://laohu8.com/S/GSX\">跟谁学</a>在新纳入的个股名单之中。</p>\n<p>MSCI指数是全球投资组合经理最多采用的基准指数,是全球的投资专业人士,包括投资组合经理、经纪交易商、交易所、投资顾问、学者及金融媒体均会使用 MSCI指数。简单来说,纳入MSCI指数意味着企业可能会获得更多国际、国内资本的青睐,有利于未来发展。</p>\n<p><a href=\"https://laohu8.com/S/GSX\">跟谁学</a>是一家专注于在线直播大班课领域的教育公司,于去年6月份在纽交所挂牌上市,之后的业绩表现十分抢眼,股价屡创新高,发行价10.5美元/股,在今年2月份时最高点曾达到46.4美元/股。</p>\n<p>5月6日,跟谁学公布了2020财年第一季度财务报告。根据财报显示,截至2020年3月31日,跟谁学的现金收入为13.74亿元人民币,同比增长358%;净收入为12.98亿元人民币,同比增长382%;非美国通用会计准则下净利润1.91亿元人民币,同比增速406%;正价课付费人次达77.4万,同比增长307%。</p>\n<p>值得一提的是,此次财报还对2020年第二季度盈利情况进行展望。根据公司当前预测数据,2020年第二季度收入应介于15.26亿元人民币至15.56亿元人民币之间,同比增幅应介于331.4%至339.9%之间。</p>\n<p>投资圈业内相关人士分析认为,跟谁学被纳入MSCI全球标准中国指数无疑是个好消息,虽然跟谁学此前被做空,但此次纳入事件在某种程度上说明了资本市场对跟谁学有一定的信心,至少没有被接二连三的做空报告蒙住眼睛。这不仅对跟谁学自身有好处,对身处美股市场的中概股整体也有一定的意义。</p>","source":"sina","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" 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margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n跟谁学被纳入MSCI全球标准中国指数\n</h2>\n\n<h4 class=\"meta\">\n\n\n2020-05-13 17:39 北京时间 <a href=https://finance.sina.com.cn/stock/enterprise/us/2020-05-13/doc-iircuyvi2909699.shtml><strong>新浪证券</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>5月13日,全球最大的指数公司明晟公司(MSCI)发布了2020年的半年度指数评估结果,将于5月29日收盘后生效。本次审议结果仅涉及个股的调整,不涉及扩充。\n其中,MSCI全球标准中国指数剔除了10只个股,同时纳入了10只新股,跟谁学在新纳入的个股名单之中。\nMSCI指数是全球投资组合经理最多采用的基准指数,是全球的投资专业人士,包括投资组合经理、经纪交易商、交易所、投资顾问、学者及金融媒体均会...</p>\n\n<a href=\"https://finance.sina.com.cn/stock/enterprise/us/2020-05-13/doc-iircuyvi2909699.shtml\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/fd680cd945fd32917c8ece66ec685e5f","relate_stocks":{},"source_url":"https://finance.sina.com.cn/stock/enterprise/us/2020-05-13/doc-iircuyvi2909699.shtml","is_english":false,"share_image_url":"https://static.laohu8.com/b0d1b7e8843deea78cc308b15114de44","article_id":"2035980447","content_text":"5月13日,全球最大的指数公司明晟公司(MSCI)发布了2020年的半年度指数评估结果,将于5月29日收盘后生效。本次审议结果仅涉及个股的调整,不涉及扩充。\n其中,MSCI全球标准中国指数剔除了10只个股,同时纳入了10只新股,跟谁学在新纳入的个股名单之中。\nMSCI指数是全球投资组合经理最多采用的基准指数,是全球的投资专业人士,包括投资组合经理、经纪交易商、交易所、投资顾问、学者及金融媒体均会使用 MSCI指数。简单来说,纳入MSCI指数意味着企业可能会获得更多国际、国内资本的青睐,有利于未来发展。\n跟谁学是一家专注于在线直播大班课领域的教育公司,于去年6月份在纽交所挂牌上市,之后的业绩表现十分抢眼,股价屡创新高,发行价10.5美元/股,在今年2月份时最高点曾达到46.4美元/股。\n5月6日,跟谁学公布了2020财年第一季度财务报告。根据财报显示,截至2020年3月31日,跟谁学的现金收入为13.74亿元人民币,同比增长358%;净收入为12.98亿元人民币,同比增长382%;非美国通用会计准则下净利润1.91亿元人民币,同比增速406%;正价课付费人次达77.4万,同比增长307%。\n值得一提的是,此次财报还对2020年第二季度盈利情况进行展望。根据公司当前预测数据,2020年第二季度收入应介于15.26亿元人民币至15.56亿元人民币之间,同比增幅应介于331.4%至339.9%之间。\n投资圈业内相关人士分析认为,跟谁学被纳入MSCI全球标准中国指数无疑是个好消息,虽然跟谁学此前被做空,但此次纳入事件在某种程度上说明了资本市场对跟谁学有一定的信心,至少没有被接二连三的做空报告蒙住眼睛。这不仅对跟谁学自身有好处,对身处美股市场的中概股整体也有一定的意义。","news_type":1},"isVote":1,"tweetType":1,"viewCount":4989,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":950177392,"gmtCreate":1589298637116,"gmtModify":1704179821010,"author":{"id":"3549980393503187","authorId":"3549980393503187","name":"我就喜欢","avatar":"https://static.tigerbbs.com/e295176ca301becfb72e7a80771ab6d7","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3549980393503187","authorIdStr":"3549980393503187"},"themes":[],"htmlText":"<a 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href=\"https://laohu8.com/S/GSX\">$跟谁学(GSX)$</a>拭目以待!","listText":"<a href=\"https://laohu8.com/S/GSX\">$跟谁学(GSX)$</a>拭目以待!","text":"$跟谁学(GSX)$拭目以待!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":20,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/925879649","repostId":"2030386150","repostType":2,"repost":{"id":"2030386150","pubTimestamp":1587981600,"share":"https://www.laohu8.com/m/news/2030386150?lang=&edition=full","pubTime":"2020-04-27 18:00","market":"us","language":"en","title":"GSX Techedu to Report First Quarter 2020 Financial Results on May 6, 2020","url":"https://stock-news.laohu8.com/highlight/detail?id=2030386150","media":"PR Newswire","summary":"BEIJING, April 27, 2020 /PRNewswire/ -- GSX Techedu Inc. (NYSE: GSX) (\"GSX\" or the \"Company\"), a lea","content":"<div>\n<p>BEIJING, April 27, 2020 /PRNewswire/ -- GSX Techedu Inc. (NYSE: GSX) (\"GSX\" or the \"Company\"), a leading online K-12 large-class after-school tutoring service provider in China, today announced that ...</p>\n\n<a href=\"https://finance.yahoo.com/news/gsx-techedu-report-first-quarter-100000630.html\">Web Link</a>\n\n</div>\n","source":"yahoofinance","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>GSX Techedu to Report First Quarter 2020 Financial Results on May 6, 2020</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nGSX Techedu to Report First Quarter 2020 Financial Results on May 6, 2020\n</h2>\n\n<h4 class=\"meta\">\n\n\n2020-04-27 18:00 GMT+8 <a href=https://finance.yahoo.com/news/gsx-techedu-report-first-quarter-100000630.html><strong>PR Newswire</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>BEIJING, April 27, 2020 /PRNewswire/ -- GSX Techedu Inc. (NYSE: GSX) (\"GSX\" or the \"Company\"), a leading online K-12 large-class after-school tutoring service provider in China, today announced that ...</p>\n\n<a href=\"https://finance.yahoo.com/news/gsx-techedu-report-first-quarter-100000630.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://s.yimg.com/lo/api/res/1.2/udOX.TQatUQroAHBeJdZPg--/YXBwaWQ9eXZpZGVvZmVlZHM7dz0xNjtoPTE2/https://media.zenfs.com/en/prnewswire.com/e26dce58e4e13e304f2bd0f8efb60c5c","relate_stocks":{},"source_url":"https://finance.yahoo.com/news/gsx-techedu-report-first-quarter-100000630.html","is_english":true,"share_image_url":"https://static.laohu8.com/5f26f4a48f9cb3e29be4d71d3ba8c038","article_id":"2030386150","content_text":"BEIJING, April 27, 2020 /PRNewswire/ -- GSX Techedu Inc. (NYSE: GSX) (\"GSX\" or the \"Company\"), a leading online K-12 large-class after-school tutoring service provider in China, today announced that it will report its financial results for the first quarter ended March 31, 2020, before U.S. markets open on May 6, 2020.GSX's management will hold an earnings conference call on Wednesday, May 6, 2020, at 8:00 AM U.S. Eastern Time (8:00 PM on the same day, Beijing/Hong Kong Time). Dial-in details for the earnings conference call are as follows: International: 1-412-317-6061 US: 1-888-317-6003 Hong Kong: 800-963976 Mainland China: 4001-206115 Passcode: 3561526 A telephone replay will be available two hours after the conclusion of the conference call through May 13, 2020. The dial-in details are: International: 1-412-317-0088 US: 1-877-344-7529 Passcode: 10143350 Additionally, a live and archived webcast of this conference call will be available at http://gsx.investorroom.com/.About GSX Techedu Inc. GSX is a technology-driven education company and leading online K-12 large-class after-school tutoring service provider in China. GSX offers K-12 courses covering all primary and secondary grades as well as foreign language, professional and interest courses. GSX adopts an online live large-class format to deliver its courses, which the Company believes is the most effective and scalable model to disseminate scarce high-quality teaching resources to aspiring students in China. Big data analytics permeates each aspect of the Company's business and facilitates the application of the latest technology to improve teaching delivery, student learning experience, and operational efficiency.For more information, please contact:GSX Techedu Inc.Ms. Sandy Qin, CFAE-mail: ir@genshuixue.comChristensenIn ChinaMr. Christian ArnellPhone: +86-10-5900-1548E-mail: carnell@christensenir.comIn USMs. Linda BergkampPhone: +1-480-614-3004Email: lbergkamp@christensenir.comView original content:http://www.prnewswire.com/news-releases/gsx-techedu-to-report-first-quarter-2020-financial-results-on-may-6-2020-301047381.htmlSOURCE GSX Techedu Inc.","news_type":1},"isVote":1,"tweetType":1,"viewCount":1582,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":922781553,"gmtCreate":1587659301172,"gmtModify":1704365190325,"author":{"id":"3549980393503187","authorId":"3549980393503187","name":"我就喜欢","avatar":"https://static.tigerbbs.com/e295176ca301becfb72e7a80771ab6d7","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3549980393503187","authorIdStr":"3549980393503187"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/GSX\">$跟谁学(GSX)$</a>我觉得买股票是为了挣钱这个没毛病,不管做多还是做空都是投资手段!挣钱不可耻,但总是打着正义使者的旗号去挣钱很可耻!有本事就去好好找证据去好好打假!别告诉我你现在做空是为了逼你认为的造假股票退市!你卖空是为了维护市场公平!那SEC该请你当高级顾问了,特朗普该给你颁荣誉勋章了!","listText":"<a href=\"https://laohu8.com/S/GSX\">$跟谁学(GSX)$</a>我觉得买股票是为了挣钱这个没毛病,不管做多还是做空都是投资手段!挣钱不可耻,但总是打着正义使者的旗号去挣钱很可耻!有本事就去好好找证据去好好打假!别告诉我你现在做空是为了逼你认为的造假股票退市!你卖空是为了维护市场公平!那SEC该请你当高级顾问了,特朗普该给你颁荣誉勋章了!","text":"$跟谁学(GSX)$我觉得买股票是为了挣钱这个没毛病,不管做多还是做空都是投资手段!挣钱不可耻,但总是打着正义使者的旗号去挣钱很可耻!有本事就去好好找证据去好好打假!别告诉我你现在做空是为了逼你认为的造假股票退市!你卖空是为了维护市场公平!那SEC该请你当高级顾问了,特朗普该给你颁荣誉勋章了!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":4,"repostSize":0,"link":"https://laohu8.com/post/922781553","isVote":1,"tweetType":1,"viewCount":2777,"authorTweetTopStatus":1,"verified":2,"comments":[{"author":{"id":"3494110855125892","authorId":"3494110855125892","name":"zzu","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":0,"idStr":"3494110855125892","authorIdStr":"3494110855125892"},"content":"你们是真的,我像毛主席保证。早就说了,不要讨论真假,毫无意义,拉就一个字。","text":"你们是真的,我像毛主席保证。早就说了,不要讨论真假,毫无意义,拉就一个字。","html":"你们是真的,我像毛主席保证。早就说了,不要讨论真假,毫无意义,拉就一个字。"}],"imageCount":0,"langContent":"CN","totalScore":0},{"id":922412215,"gmtCreate":1587640313237,"gmtModify":1704365044157,"author":{"id":"3549980393503187","authorId":"3549980393503187","name":"我就喜欢","avatar":"https://static.tigerbbs.com/e295176ca301becfb72e7a80771ab6d7","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3549980393503187","authorIdStr":"3549980393503187"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/GSX\">$跟谁学(GSX)$</a>打着分析跟谁学的旗号来给好未来打广告!","listText":"<a href=\"https://laohu8.com/S/GSX\">$跟谁学(GSX)$</a>打着分析跟谁学的旗号来给好未来打广告!","text":"$跟谁学(GSX)$打着分析跟谁学的旗号来给好未来打广告!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/922412215","repostId":"2029450018","repostType":2,"repost":{"id":"2029450018","pubTimestamp":1587611044,"share":"https://www.laohu8.com/m/news/2029450018?lang=&edition=full","pubTime":"2020-04-23 11:04","market":"us","language":"zh","title":"关于跟谁学长期盈利性的一些观点","url":"https://stock-news.laohu8.com/highlight/detail?id=2029450018","media":" · 半杯白酒","summary":"[ 亿欧导读 ] 网校能否靠打造机构品牌获得长期的品牌溢价呢。答案是不能。因为他不满足上述好未来打造品牌的逻辑。一方面网校没有明确的用户定位,另外也没有先发和独有优势。","content":"<html><body><div>\n<p>大家好,我是半杯白酒,这是我的第十二篇文章。很多教育投资人最近都会问我怎么看<a href=\"https://laohu8.com/S/GSX\">跟谁学</a>,都特希望我有小道消息能给点猛料。让大家失望了,这个真没有。没有调研就没有发言权,今天不抠各种数字的真实性,和大家聊聊关于跟谁学长期盈利性的一些观点。</p>\n<p> <strong>如果跟谁学确实盈利,可能的原因有两个:一个是超强组织力,“每个环节比别人做的好一点”,这是跟谁学内部一直强调的;</strong><strong>另外一个是品牌溢价,跟谁学的客单价是很多同行的1.5倍以上。</strong></p>\n<h3><strong>关于组织力</strong></h3>\n<p><strong>组织力对一个公司重要吗?非常重要。</strong></p>\n<p>对一个教育公司呢?更加重要,因为教育公司的业务说白了就是把老师(包括主讲老师和辅导老师)的行为标准化(此处标准化的定义不只是过程一致性,阶段目标一致性也算),但人天生有差异,天生就会犯错,天生不爱重复工作,所以需要教育公司有超强组织力去降低标准化难度。</p>\n<p>跟谁学组织力怎么样?从我接触的人的反馈,我认为是非常强悍的。很多我认为不太容易被“组织”的人,进入跟谁学也被狠狠的打了鸡血。一些人虽然从O2O时代的跟谁学离职,但是对曾经在跟谁学的打仗经历还是很感慨。</p>\n<p> 很多人会拿跟谁学联合创始人走光说事。说实话,构建超强组织力组织最简单粗暴的方法就是造神。所以<a href=\"https://laohu8.com/S/EDU\">新东方</a>只能剩一个俞敏洪,学而思只能剩一个张邦鑫,跟谁学只能剩一个陈向东。</p>\n<p><strong>强悍的组织力,是否能让跟谁学在现在激烈的竞争中保持盈利,并且未来可以长期保持盈利?第一句我觉得是有可能的,</strong>因为网校的毛利空间很大,而且整个在线教育处于早期,先行者短期内有可能得到一定的创新和风险回报。(第一,我只是说有这个可能性,具体我不知道;第二,别人都赔钱,你必须也赔钱的逻辑是不对的)</p>\n<p><strong>但第二句我觉得不太可能。</strong></p>\n<p> 学过经济学的朋友都知道,<strong>企业的“正常利润”(正常利润是个专有名词,相对于超额利润而言),来源只有一个,就是企业家才能的报酬。</strong>在教培行业,企业家的才能主要体现在企业家的组织能力上,长期看看企业家的组织能力主要从降本增效两个方面创造正常利润。</p>\n<p>抛开现在玄而又玄的“流量成本优势”不谈,网校业务“降本”主要靠降低辅导老师的人力成本(目前各个网校都有流量集中化趋势,核心主讲给的再多,成本都是比较低的)。新东方学而思线下主讲老师的降本靠的是完备的培训体系和较长的教师成长周期,能让老师心甘情愿把一部分自己创造的价值拿出来作为学费给机构。所以某种程度上也可以说机构挣得是培训教师的钱。但是辅导老师的成长周期则比较短,几乎所有网校机构都是靠高额工资去招聘和留存辅导老师。即使靠打鸡血让辅导老师通过增加产出去降低成本,靠的也是信息不对称,时间长了一样有问题。所以网校组织力在降本上的效果我觉得远期内是没有太大空间的。</p>\n<p><strong>靠组织力优势增效是指同一个业务,组织力强的组织比组织力弱的组织能取得更好的效果。</strong>陈向东在很多场合也提到,教育是非常复杂的业务,业务链条非常长,每个地方做好一点,整体来看优势就很明显了。</p>\n<p>网校大班真的有那么复杂吗?为什么没有教育基因的巨头做教育都想做网校大班,而不做在线小班或线下?当然是因为网校门槛虽高,但相对来说并没有那么复杂(讲个笑话,我和我们财务总监说,我们这线下小班的业务非常复杂,账很容易乱。出身房地产公司的财务总监轻蔑的笑了)。</p>\n<p><strong>线下学而思超强组织力在增效上是有明显体现的:如此多的主讲教师的异地招聘培训,以及课程高标准化程度,都是其他机构看着只能干瞪眼而短期内很难做到的。</strong>但大家现在都越来越认同的一点是,目前的网校产品,大家抄来抄去,已经没有哪家有肉眼可见的优势了。所以靠组织力优势增效未来是很难靠得住的。</p>\n\n<p> 如果想靠只组织力优势长期内获取更多正常利润是不太可能的,有没有可能有其他渠道获取超额利润呢?超额利润的来源短期内有两个:风险回报,创新回报;长期看只有一个:垄断。</p>\n<p>沾疫情的光,在线教育的市场成熟度会迅速提高,风险回报会越来越小;如果网校基本形态不变,业务微创新带来的回报也将越来越小(即使业务形态变了,也得看好抄不好抄……)。所以大家都想把宝压在垄断上。垄断,多么诱人的字眼!!!</p>\n<p><strong>常见的垄断有两类:特许经营和天然垄断。</strong></p>\n<p>特许经营就别想了,ZF没有一不开心把整个行业砸了就不错了。天然垄断如<a href=\"https://laohu8.com/S/00700\">腾讯</a>阿里的逻辑在在线教育根本不适用,在线教育更像门户网站。这个逻辑在此不再赘述,感兴趣的朋友可以翻翻“半杯白酒”历史文章。</p>\n<p>还有一种常见的可以获取超额利润的方式,其实是隐性的垄断,就是品牌对心智的垄断。在这一点上,有不了解的朋友可以去好好研究下《定位》这本书。</p>\n<p>上述说这么多,就是为了讨论开篇提出的“跟谁学盈利的可能原因之二”——品牌溢价。</p>\n<h3>关于品牌溢价</h3>\n<p>我知道写到这的时候,会有读者有摔手机的冲动:跟谁学还能有品牌溢价?没错,但跟谁学的品牌溢价并不是靠的这三个字,而是靠的其名师策略。拿我的女神古力娜扎举例,他的品牌价值是体现在她身上,还是他的经纪公司唐人电影有限公司呢(反正我是<a href=\"https://laohu8.com/S/BIDU\">百度</a>才知道)?</p>\n<p>跟谁学短期内能否靠名师品牌获取超额利润呢?</p>\n<p>我觉得是可能的,<strong>有两个原因:一是教育产品体验有一定排他性,即大部分学生只会体验一个老师的课程,而不会各个机构老师都体验一遍;二是,教育产品消费天然具有延续性,即学生换老师会有试错和适应成本。</strong>但是我觉得长期看,家长和机构信息不对称的情况会越来越少,大部分家长都会意识到,每个网校主讲是比较难有肉眼可见的差异的(尤其是现在各个网校都有流量集中化趋势),所以价格差异不会太大。90年代保健品市场堪比现在的在线教育市场,仗着保健品效果后延且不确定性的特殊属性,各路牛鬼蛇神折腾十来年,但最终市场还是归于理性了。</p>\n<p>那么如果跟谁学未来继续名师策略,但是改成平价呢?流量会不会进一步聚集,当这个老师有足够的口碑密度的时候,自然新增能够抵消流失,实现这个老师的流量自增长?这个逻辑在娱乐圈是非常普遍的,就是顶流明星确实会有自来水流量,但通常也会就会发现,顶流明星都拉工作室单干了。其实线下名师机构也跑不出这个逻辑,就是当一个线下机构顶级名师有自然新增流量的时候,那么离这个老师跑路也就不远了。有人会问我,跟谁学捧名师,名师跑路怎么办?其实名师自己心里有数,所谓的名师只不过是平台给的,不能太当真。但当自己真全国有名,有持续不断的自有流量的时候(教育行业和娱乐行业不一样,受众小,且有断档,所以想全国有名很难),那就不好说了。</p>\n<p>说到这再考虑另外一种情况,有没有可能不推名师,把网校自己的品牌打出来进而收取品牌溢价呢(猿辅导现在做的)。</p>\n<p><strong>其实线下的<a href=\"https://laohu8.com/S/TAL\">好未来</a>已经做到了。</strong></p>\n<p><strong>好未来线下业务有三个比较明显的特点:1. 筛学生;2. 无名师;3. 价格高。</strong>这些特点串成一句话,就是:好未来精准定位客户(优等生),靠不可复制优势不断提高定位客户群体口碑密度,进而能不靠名师形成好未来自己的培优品牌,从而能收取高价获得品牌溢价。</p>\n<p>上面这句话中,体现了打造品牌的几个先决条件:</p>\n<p><strong>1. 市场定位——市场定位一方面有利提升口碑纯度</strong>(比如只有100个优等生机构的口碑,一般比有100个优等生和500个中差等生的机构口碑更好)。另一方面有利于迅速提高定位客户群体口碑密度(都是招100个学生,都是优等生,肯定比50优等生50中等生的优等生口碑密度更高)</p>\n<p><strong>2. 先发和相对不可复制优势</strong>——好未来线下一方面是在当地城市做培优概念比较早,另一方面是有很多其他线下机构无法追赶的优势,比如大量的高学历教师招聘能力,各条业务线成熟负责人,甚至是3000平米的精装修校区都是很多机构不敢或不能投资的。</p>\n<p><strong>3. 情感依赖——如果靠名师打品牌,那自然学生的情感依赖就在主要就在名师身上</strong>;如果是靠机构体系和产品打品牌,那么学生的情感依赖就主要在机构而不在老师,这样机构品牌就是比较稳定且能沉淀的了。</p>\n<p>经常读我文章的读者应该能发现,我每次都新东方好未来一起提,但这次没提新东方。因为我觉得新东方到现在,依然是一个靠名师打品牌的机构,只是不靠名师创收了。新东方最大的名师就是俞敏洪啊。这样的方式我觉得在获客方面是能降低成本的,但是很难长期获得品牌溢价——现在看新东方每个城市的价格基本就是当地的平价。</p>\n<p>回到上面的问题。<strong>网校能否靠打造机构品牌获得长期的品牌溢价呢。答案是不能。因为他不满足上述好未来打造品牌的逻辑。一方面网校没有明确的用户定位,另外也没有先发和独有优势。情感依赖很多网校做的还是不错的,但是这个很难支持强品牌带来的品牌溢价的。</strong>当然我觉得这样的品牌打造对于降低客户选择成本是有作用的,但是这是从流量端思考问题而不是从品牌溢价层面去思考了。</p>\n<p> <span>以上是对于跟谁学未来盈利性的一些思考。今天并没有讨论获客问题,当然获客对盈利的影响是非常大的,但这个短期内我觉得各个机构都是一笔不能说的帐,长期看,我觉得有明显获客优势的网校胜出概率会非常大,在此不做讨论。</span></p>\n\n\n\n\n<p><span>本文经授权发布,版权归原作者所有;内容为作者独立观点,不代表亿欧立场。如需转载请联系原作者。</span></p>\n</div></body></html>","source":"iyiou_stock","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>关于跟谁学长期盈利性的一些观点</title>\n<style 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margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n关于跟谁学长期盈利性的一些观点\n</h2>\n\n<h4 class=\"meta\">\n\n\n2020-04-23 11:04 北京时间 <a href=https://www.iyiou.com/p/126889.html><strong> · 半杯白酒</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>大家好,我是半杯白酒,这是我的第十二篇文章。很多教育投资人最近都会问我怎么看跟谁学,都特希望我有小道消息能给点猛料。让大家失望了,这个真没有。没有调研就没有发言权,今天不抠各种数字的真实性,和大家聊聊关于跟谁学长期盈利性的一些观点。\n 如果跟谁学确实盈利,可能的原因有两个:一个是超强组织力,“每个环节比别人做的好一点”,这是跟谁学内部一直强调的;另外一个是品牌溢价,跟谁学的客单价是很多...</p>\n\n<a href=\"https://www.iyiou.com/p/126889.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://diting-hetu.iyiou.com/15792328504846.jpg?imageView2/1/w/900/h/600/format/jpg","relate_stocks":{},"source_url":"https://www.iyiou.com/p/126889.html","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2029450018","content_text":"大家好,我是半杯白酒,这是我的第十二篇文章。很多教育投资人最近都会问我怎么看跟谁学,都特希望我有小道消息能给点猛料。让大家失望了,这个真没有。没有调研就没有发言权,今天不抠各种数字的真实性,和大家聊聊关于跟谁学长期盈利性的一些观点。\n 如果跟谁学确实盈利,可能的原因有两个:一个是超强组织力,“每个环节比别人做的好一点”,这是跟谁学内部一直强调的;另外一个是品牌溢价,跟谁学的客单价是很多同行的1.5倍以上。\n关于组织力\n组织力对一个公司重要吗?非常重要。\n对一个教育公司呢?更加重要,因为教育公司的业务说白了就是把老师(包括主讲老师和辅导老师)的行为标准化(此处标准化的定义不只是过程一致性,阶段目标一致性也算),但人天生有差异,天生就会犯错,天生不爱重复工作,所以需要教育公司有超强组织力去降低标准化难度。\n跟谁学组织力怎么样?从我接触的人的反馈,我认为是非常强悍的。很多我认为不太容易被“组织”的人,进入跟谁学也被狠狠的打了鸡血。一些人虽然从O2O时代的跟谁学离职,但是对曾经在跟谁学的打仗经历还是很感慨。\n 很多人会拿跟谁学联合创始人走光说事。说实话,构建超强组织力组织最简单粗暴的方法就是造神。所以新东方只能剩一个俞敏洪,学而思只能剩一个张邦鑫,跟谁学只能剩一个陈向东。\n强悍的组织力,是否能让跟谁学在现在激烈的竞争中保持盈利,并且未来可以长期保持盈利?第一句我觉得是有可能的,因为网校的毛利空间很大,而且整个在线教育处于早期,先行者短期内有可能得到一定的创新和风险回报。(第一,我只是说有这个可能性,具体我不知道;第二,别人都赔钱,你必须也赔钱的逻辑是不对的)\n但第二句我觉得不太可能。\n 学过经济学的朋友都知道,企业的“正常利润”(正常利润是个专有名词,相对于超额利润而言),来源只有一个,就是企业家才能的报酬。在教培行业,企业家的才能主要体现在企业家的组织能力上,长期看看企业家的组织能力主要从降本增效两个方面创造正常利润。\n抛开现在玄而又玄的“流量成本优势”不谈,网校业务“降本”主要靠降低辅导老师的人力成本(目前各个网校都有流量集中化趋势,核心主讲给的再多,成本都是比较低的)。新东方学而思线下主讲老师的降本靠的是完备的培训体系和较长的教师成长周期,能让老师心甘情愿把一部分自己创造的价值拿出来作为学费给机构。所以某种程度上也可以说机构挣得是培训教师的钱。但是辅导老师的成长周期则比较短,几乎所有网校机构都是靠高额工资去招聘和留存辅导老师。即使靠打鸡血让辅导老师通过增加产出去降低成本,靠的也是信息不对称,时间长了一样有问题。所以网校组织力在降本上的效果我觉得远期内是没有太大空间的。\n靠组织力优势增效是指同一个业务,组织力强的组织比组织力弱的组织能取得更好的效果。陈向东在很多场合也提到,教育是非常复杂的业务,业务链条非常长,每个地方做好一点,整体来看优势就很明显了。\n网校大班真的有那么复杂吗?为什么没有教育基因的巨头做教育都想做网校大班,而不做在线小班或线下?当然是因为网校门槛虽高,但相对来说并没有那么复杂(讲个笑话,我和我们财务总监说,我们这线下小班的业务非常复杂,账很容易乱。出身房地产公司的财务总监轻蔑的笑了)。\n线下学而思超强组织力在增效上是有明显体现的:如此多的主讲教师的异地招聘培训,以及课程高标准化程度,都是其他机构看着只能干瞪眼而短期内很难做到的。但大家现在都越来越认同的一点是,目前的网校产品,大家抄来抄去,已经没有哪家有肉眼可见的优势了。所以靠组织力优势增效未来是很难靠得住的。\n 如果想靠只组织力优势长期内获取更多正常利润是不太可能的,有没有可能有其他渠道获取超额利润呢?超额利润的来源短期内有两个:风险回报,创新回报;长期看只有一个:垄断。\n沾疫情的光,在线教育的市场成熟度会迅速提高,风险回报会越来越小;如果网校基本形态不变,业务微创新带来的回报也将越来越小(即使业务形态变了,也得看好抄不好抄……)。所以大家都想把宝压在垄断上。垄断,多么诱人的字眼!!!\n常见的垄断有两类:特许经营和天然垄断。\n特许经营就别想了,ZF没有一不开心把整个行业砸了就不错了。天然垄断如腾讯阿里的逻辑在在线教育根本不适用,在线教育更像门户网站。这个逻辑在此不再赘述,感兴趣的朋友可以翻翻“半杯白酒”历史文章。\n还有一种常见的可以获取超额利润的方式,其实是隐性的垄断,就是品牌对心智的垄断。在这一点上,有不了解的朋友可以去好好研究下《定位》这本书。\n上述说这么多,就是为了讨论开篇提出的“跟谁学盈利的可能原因之二”——品牌溢价。\n关于品牌溢价\n我知道写到这的时候,会有读者有摔手机的冲动:跟谁学还能有品牌溢价?没错,但跟谁学的品牌溢价并不是靠的这三个字,而是靠的其名师策略。拿我的女神古力娜扎举例,他的品牌价值是体现在她身上,还是他的经纪公司唐人电影有限公司呢(反正我是百度才知道)?\n跟谁学短期内能否靠名师品牌获取超额利润呢?\n我觉得是可能的,有两个原因:一是教育产品体验有一定排他性,即大部分学生只会体验一个老师的课程,而不会各个机构老师都体验一遍;二是,教育产品消费天然具有延续性,即学生换老师会有试错和适应成本。但是我觉得长期看,家长和机构信息不对称的情况会越来越少,大部分家长都会意识到,每个网校主讲是比较难有肉眼可见的差异的(尤其是现在各个网校都有流量集中化趋势),所以价格差异不会太大。90年代保健品市场堪比现在的在线教育市场,仗着保健品效果后延且不确定性的特殊属性,各路牛鬼蛇神折腾十来年,但最终市场还是归于理性了。\n那么如果跟谁学未来继续名师策略,但是改成平价呢?流量会不会进一步聚集,当这个老师有足够的口碑密度的时候,自然新增能够抵消流失,实现这个老师的流量自增长?这个逻辑在娱乐圈是非常普遍的,就是顶流明星确实会有自来水流量,但通常也会就会发现,顶流明星都拉工作室单干了。其实线下名师机构也跑不出这个逻辑,就是当一个线下机构顶级名师有自然新增流量的时候,那么离这个老师跑路也就不远了。有人会问我,跟谁学捧名师,名师跑路怎么办?其实名师自己心里有数,所谓的名师只不过是平台给的,不能太当真。但当自己真全国有名,有持续不断的自有流量的时候(教育行业和娱乐行业不一样,受众小,且有断档,所以想全国有名很难),那就不好说了。\n说到这再考虑另外一种情况,有没有可能不推名师,把网校自己的品牌打出来进而收取品牌溢价呢(猿辅导现在做的)。\n其实线下的好未来已经做到了。\n好未来线下业务有三个比较明显的特点:1. 筛学生;2. 无名师;3. 价格高。这些特点串成一句话,就是:好未来精准定位客户(优等生),靠不可复制优势不断提高定位客户群体口碑密度,进而能不靠名师形成好未来自己的培优品牌,从而能收取高价获得品牌溢价。\n上面这句话中,体现了打造品牌的几个先决条件:\n1. 市场定位——市场定位一方面有利提升口碑纯度(比如只有100个优等生机构的口碑,一般比有100个优等生和500个中差等生的机构口碑更好)。另一方面有利于迅速提高定位客户群体口碑密度(都是招100个学生,都是优等生,肯定比50优等生50中等生的优等生口碑密度更高)\n2. 先发和相对不可复制优势——好未来线下一方面是在当地城市做培优概念比较早,另一方面是有很多其他线下机构无法追赶的优势,比如大量的高学历教师招聘能力,各条业务线成熟负责人,甚至是3000平米的精装修校区都是很多机构不敢或不能投资的。\n3. 情感依赖——如果靠名师打品牌,那自然学生的情感依赖就在主要就在名师身上;如果是靠机构体系和产品打品牌,那么学生的情感依赖就主要在机构而不在老师,这样机构品牌就是比较稳定且能沉淀的了。\n经常读我文章的读者应该能发现,我每次都新东方好未来一起提,但这次没提新东方。因为我觉得新东方到现在,依然是一个靠名师打品牌的机构,只是不靠名师创收了。新东方最大的名师就是俞敏洪啊。这样的方式我觉得在获客方面是能降低成本的,但是很难长期获得品牌溢价——现在看新东方每个城市的价格基本就是当地的平价。\n回到上面的问题。网校能否靠打造机构品牌获得长期的品牌溢价呢。答案是不能。因为他不满足上述好未来打造品牌的逻辑。一方面网校没有明确的用户定位,另外也没有先发和独有优势。情感依赖很多网校做的还是不错的,但是这个很难支持强品牌带来的品牌溢价的。当然我觉得这样的品牌打造对于降低客户选择成本是有作用的,但是这是从流量端思考问题而不是从品牌溢价层面去思考了。\n 以上是对于跟谁学未来盈利性的一些思考。今天并没有讨论获客问题,当然获客对盈利的影响是非常大的,但这个短期内我觉得各个机构都是一笔不能说的帐,长期看,我觉得有明显获客优势的网校胜出概率会非常大,在此不做讨论。\n本文经授权发布,版权归原作者所有;内容为作者独立观点,不代表亿欧立场。如需转载请联系原作者。","news_type":1},"isVote":1,"tweetType":1,"viewCount":1650,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":922800139,"gmtCreate":1587482929721,"gmtModify":1704364437972,"author":{"id":"3549980393503187","authorId":"3549980393503187","name":"我就喜欢","avatar":"https://static.tigerbbs.com/e295176ca301becfb72e7a80771ab6d7","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3549980393503187","authorIdStr":"3549980393503187"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/GSX\">$跟谁学(GSX)$</a>其实空军的脑路很简单,因为跟谁学和瑞幸一样都是新股,明显就是欺负新人,加上业绩万里挑一难免觉得做空这个赌局赢面大,所以什么做空报告、商业纠纷、集体投诉、集体诉讼(目前就一个人也算集体?)都是浮云,完全就是中国式跟风!跟中国式过马路差不多,我只能说拭目以待吧!","listText":"<a 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href=http://cj.sina.cn/article/normal_detail?url=https://k.sina.cn/article_1649173367_624c637702000swe6.html><strong>每日经济新闻</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>北京郝俊波律师事务所21日发布声明称,2020年4月17日已代表一位中国投资者将跟谁学GSXTecheduInc(NYSE:GSX)诉至法院。在目前的诉讼中指控跟谁学在2019年6月6日至2020年4月13日期间就公司的运营及合规等问题进行虚假陈述,未能向投资者披露以下重大不利事实:(i)该公司就盈利状况,收入,学生数量,教师资质,教师选择流程进行虚假陈述;(ii)可以预见这些问题一旦曝光将会对...</p>\n\n<a href=\"http://cj.sina.cn/article/normal_detail?url=https://k.sina.cn/article_1649173367_624c637702000swe6.html\">Web 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19:23","market":"us","language":"zh","title":"跟谁学成立高途课堂武汉中心,同步推出“万人招聘计划”","url":"https://stock-news.laohu8.com/highlight/detail?id=2028771685","media":"蓝鲸财经","summary":"蓝鲸教育4月17日讯,跟谁学(GSX.US)于近日宣布启动“拾樱计划”,通过成立高途课堂武汉中心,推出“万人招聘计划”等方式,助力武汉“扩内需、稳就业”。\n据悉,4月1日,跟谁学在武汉成立子公司武汉高","content":"<html><body><p>蓝鲸教育4月17日讯,<a href=\"https://laohu8.com/S/GSX\">跟谁学</a>(GSX.US)于近日宣布启动“拾樱计划”,通过成立高途课堂武汉中心,推出“万人招聘计划”等方式,助力武汉“扩内需、稳就业”。</p>\n<p>据悉,4月1日,跟谁学在武汉成立子公司武汉高途<a href=\"https://laohu8.com/S/YJ\">云集</a>教育科技有限公司,跟谁学旗下高途课堂武汉中心正式运营。跟谁学武汉公司负责人表示,高途课堂武汉中心计划建立由武汉高校毕业生组成的专业第二主讲老师团队。公司未来还计划加大在线教育在武汉的本地化运营和服务,包括探索本地化的个性化课程。</p>\n<p>据了解,高途课堂武汉中心目前在职人员近800人。公司正面向全国,引进优秀人才来汉,岗位需求包括教学教研、网络技术、职能运营等,2020年计划达到3500人。至2021年跟谁学在武汉总计划招聘10000人。</p>\n<p>另外,跟谁学早期即在武汉设立了研发中心,2015年12月正式开始运营,是北京总部外的唯一一个研发中心。目前在职人员是200人,接下来将计划招聘500人。除了助力稳就业,跟谁学还计划在武汉加大投资,打造永久发展基地。</p>\n</body></html>","source":"lanjinger_stock","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; 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href=https://www.lanjinger.com/news/detail?id=134795><strong>蓝鲸财经</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>蓝鲸教育4月17日讯,跟谁学(GSX.US)于近日宣布启动“拾樱计划”,通过成立高途课堂武汉中心,推出“万人招聘计划”等方式,助力武汉“扩内需、稳就业”。\n据悉,4月1日,跟谁学在武汉成立子公司武汉高途云集教育科技有限公司,跟谁学旗下高途课堂武汉中心正式运营。跟谁学武汉公司负责人表示,高途课堂武汉中心计划建立由武汉高校毕业生组成的专业第二主讲老师团队。公司未来还计划加大在线教育在武汉的本地化运营和...</p>\n\n<a href=\"https://www.lanjinger.com/news/detail?id=134795\">Web 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