Du Jun retorted to Li Bojie: Entrepreneurs and job seekers alike need to understand their place; no one is going to pay for your success.
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Huawei's "genius youth" Li Bojie responds to Du Jun's accusations: Investment funds not fully received, resignation approved by the board of directors.
According to Odaily Odaily, Du Jun, co-founder of Web3 venture capital firm ABCDE, previously publicly accused Li Bojie of lacking a sense of contract and sued Li Bojie and his partner Zhuang Siyuan for refusing to fulfill their contractual obligations to synchronize financial and business progress after receiving investment from ABCDE during the founding of Metagent in 2024, and subsequently disappearing without a trace. In response, Li Bojie stated, "The investment agreement stipulated that ABCDE Capital would invest $1.5 million, but only $500,000 was actually received, with the remaining $1 million still outstanding. The company's cap table still records the institution's equity based on a $1.5 million share. Due to the delayed investment, he and his co-founders voluntarily reduced their salaries, and the company faced difficulties in recruitment and R&D. In October 2024, due to personal family reasons preventing him from leaving mainland China, and because Web3 projects were non-compliant, he resigned from Metagent, with board approval. He stated that until his departure, as CTO and co-founder, he had consistently fulfilled his responsibilities by disclosing the cap table and business status on time, and in accordance with the non-compete clause in the agreement, his subsequent entrepreneurial projects intentionally avoided areas such as Web3, AI infrastructure, and image generation."
Du Jun: Metagent founder Li Bojie refuses to fulfill investment agreement and has gone missing.
According to Odaily Odaily, Du Jun, co-founder of ABCDE Capital, wrote that Li Bojie, founder of Metagent, is "the founder with the least sense of contractual obligation" he has ever worked with. Du Jun stated that Li Bojie founded Metagent in 2024 and received investment from ABCDE Capital, but subsequently refused to fulfill the basic obligations stipulated in the investment agreement, including updating investors on business progress and financial status, and later even disappeared. Du Jun said that venture capitalists can accept project failures, but cannot accept fraudulent behavior such as founders "running away" after receiving investment.
Santander Bank: Despite weak June jobs data, the Fed will still focus on inflation.
Odaily Odaily reports that Evercore ISI stated, "With employment data returning to normal, the Fed will still focus on inflation." Economists believe the Fed will view the weak June employment data as a return to normal levels after several months of unexpectedly strong hiring growth. They stated, "Some believe this report significantly reduces the likelihood of a rate hike this year. We don't entirely agree with that view." Santander analyst Stephen Stanley echoed this view. He stated, "Inflation data will determine the Fed's course of action." He believes the June jobs report may "slightly" alter the views of Fed officials, but he expects most policymakers to still view the labor market as stable. "There has been a considerable overreaction in financial markets, including lowering the probability of a rate hike this year. I think the latter is an inappropriate reaction to this report." (Jinshi)
The number of Americans filing for initial jobless claims for the week ending June 27 was 215,000, compared to an expected 220,000.
According to BlockBeats, on July 2nd, the number of initial jobless claims in the United States for the week ending June 27th was 215,000, lower than the expected 220,000 and the previous week's figure revised from 215,000 to 216,000. (Jinshi)
June non-farm payroll data may be cooler, with the market expecting 110,000 new jobs. The Federal Reserve's policy path is under close scrutiny.
According to BlockBeats, the US will release its June non-farm payrolls report at 8:30 PM Beijing time on July 2nd. The market widely expects 110,000 new non-farm jobs in June, lower than May's 172,000; the unemployment rate is expected to remain at 4.3%, with average hourly earnings rising 0.3% month-over-month. The market is focused on two core issues surrounding the June data: first, whether the job market will continue to tighten after May; and second, whether May's strong performance was affected by one-off factors, particularly the short-term labor demand generated by the World Cup. This will directly impact interest rate expectations. The current stabilization of the US job market has reduced the necessity for the Federal Reserve to continue cutting interest rates. Unlike last year's rate cuts, the financial market currently widely expects the Fed to raise rates sometime this year to address inflationary pressures. However, if the job market unexpectedly weakens, this expectation could quickly reverse. If employment data is stronger than expected, the market may further reduce its expectations for interest rate cuts, or even re-priced in the possibility of rate hikes, putting pressure on highly valued assets such as technology stocks. Conversely, if the data is significantly weak, it may boost expectations for rate cuts, but it will also trigger market concerns about the prospects for US economic growth and corporate profits. The market is also paying close attention to the volatility of assets such as the US dollar, US Treasury yields, and the Japanese yen exchange rate.
US Treasury Secretary Bessant: I wouldn't be surprised if the June jobs data is very strong.
Odaily Odaily that U.S. Treasury Secretary Bessenter stated that he has not yet seen the June jobs data. He said he wouldn't be surprised if the June jobs data were very strong, and that "we'll see" whether oil companies are manipulating prices. He encouraged gasoline retailers to "follow the rules," and that it's time to take action for the American people, adding that he is currently monitoring gasoline retailers. (Jinshi)