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Jenktuen's open letter against layoffs: bitland's cash flow is healthy and it sticks with the ai business

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He said he had to stand up in order to protect the interests of bitland, its employees and shareholders.

Block law moves block BlockBeats news, bit mainland co-founder zhan ketuan today in the circle of friends published an open letter to employees: I firmly oppose layoffs! "The letter said he specifically mentioned his opposition to the company's recent job cuts. In the letter, he said that research and development (the main component of bitland's team) would be the focus of the cuts, with the Al business being cut by two-thirds.

According to zhan ketuan, compared with the 1,000 teams of competitors, the AI business line of bitmainland only has less than 800 people, and the company's capital and asset reserves can bear the expenditure of this part of the business line. He believes that the S17 is still a competitive product in the market, and the upcoming S19 series will bring considerable profits to bitmainland, even if bitcoin does not rise in price after halving.

Block beat BlockBeats found that the group was firmly opposed to redundancies. At the end of the letter, he said, "to protect the cause our team has built together, and to protect the interests of bitland, its employees and shareholders, I must stand up!"

At the end of October 2019, wu jihan, founder of bitmainland, issued an important notice to employees, saying that he had decided to remove jenctuan from all its duties in bitmainland, according to a report by BlockBeats. According to a former employee of bitmainland, before that, wu jihan was more in charge of foreign business contact, bitmainland mining machine division, bitcoin cash (BCH) and other businesses, while jinketuan was more in charge of technical businesses, such as AI department's chip research and development, mining machine chip research and development. & have spent

The following is an open letter to employees from jenks group: I'm against layoffs! The full text:

Dear colleagues from mainland China, I have been away from you for two months and a week. I miss you very much. After entrusting the legal matters to the lawyer, I was basically in the state of vacation, except paying constant attention to the situation of the company. My health improved a lot, and the pain in my hands and feet disappeared. Finally, I could jump and run freely on the badminton court again. Healthy feeling good, also wish you and your family good health! Recently, I read about a company plan to lay off employees. According to the source, bitland is planning to lay off a large number of employees, claiming to lay off half of them. Research and development (which is also the main component of our team) will be the focus of the reduction, of which the Al business will be cut by two thirds. When I just saw this news, I felt the same as when I just arrived and my legal person was changed. This must be false, right? ! Calm down, think again, I still think this is a rumor, this is too unreasonable! "Bitmainland is operating normally, cash flow is healthy, personnel optimization is facing the mining bitcoin halving pressure," the source said. Bitland's cash flow is healthy, of course, and there are huge virtual currency assets。2019年，比特大陆最困难的是一月份，随后经营指标逐月改善。过去两个月，虽然还没有看到财报，但我相信经营指标也不会差到哪里去，现在的情况比 2019 年初要好非常多！而且，S17 系列矿机是当前市场上最有竞争力的产品！比特大陆即将推出更高性价比的 S19 系列矿机，即使减半后比特币价格不涨，这款机型也可以给比特大陆带来非常好的利润。为了应对五个月以后的比特币减半而裁员，这真是荒谬的说辞！消息称「这是对前董事长大规模布局 Al 业务的纠偏」。比特大陆全体员工约 1300 人，其中 Al 业务线人员不到一半，而我们的友商可都是数千人的团队。以如此精悍的小团队支撑起一个如此实力和规模的 Al 业务，怎么可能因为 Al 业务暂时还没有利就要优化呢？没有投入，哪来的产出啊？比特大陆现在的经营团队也宣称：「Al 是公司的未来，要继续发展 Al 业务。」我们都明白，Al 的市场空间是巨大的，并且正在快速打开。虽然，Al 领域的竞争非常激烈，但是，经过四年持续的投入，不论是技术、产品还是市场我们都已经积累起了非常明显的优势。矿机市场同样竞争非常激烈，甚至比 Al 更激烈，比特大陆从零做到了世界第一！我们的队伍是不害怕竞争的！我相信，在 Al 这个市场，我们的队伍也一样可以从零做到世界第一！

The source said. "Compared with the 100-person scale of the miner's competitors, bitmainland has more than 1,000 people, and the number of personnel is relatively redundant." Bitmainland has accumulated a very big competitive advantage in the mining machine market, one of the important advantages is more people, more money. People and money are necessary to ensure skills and lead! The virtual currency mining market will continue to grow, and as the reigning champion, anyone with business sense will saturate the market with attacks: invest far more than our competitors, get an overwhelming advantage, and continue to expand our market share! Let's do another one. Although the market is not good in 2019, bitmainland still has a very substantial profit, and 2020 will definitely be better than 2019. Let's say bitmainland plans to lay off 500 people, and let's say the cost per person is 1 million yuan a year, or 500 million yuan a year, or about 0.7 billion U.S. dollars. That is not a big fee compared with bitland's profits. To say the least, even if profits are difficult, with the company's current capital and asset reserves, a year. An expenditure of $70m is perfectly acceptable. The news that does not accord with business common sense and logic so, should be a rumor! We are a high-tech company and our employees are our most important assets! If, unfortunately, the current management team really makes such a wrong decision that is close to suicide, as the largest shareholder, founder and the first person in charge of the company since its establishment six years ago, I firmly oppose such layoffs! To protect the cause our team has built together, to protect the interests of bitland, its employees and shareholders, I must stand up!

January6, 2020