Chapter 720: Chapter 528: Progress of the Era

The Lantern Festival multiplies thoughts of family, yet staying in Magic City spares one of these worries.

The main reason being most of Old Chen Family’s relatives are already here.

Their family still symbolically cooked some reunion sweet dumplings. Er Piya sat on her own mini CEO chair, her two chubby hands ceaselessly swiping on a large tablet.

This chair was specially customized for her at the cost of six million.

Behind it, eight bold characters were especially striking: Er Congming the Great Great CEO.

This was something she planned to bring to her own little headquarters on The Bund; Er Piya didn’t think spending six million on a custom-made CEO chair was that much of an exaggeration.

In her mind since childhood, her family’s money was like inexhaustible mines of gold and silver.

Spending lavishly was no issue at all.

Just by acting a bit spoiled, keeping her Dad happy, those tens of billions for high-rise ownership were easily gained.

“Hey…”

Er Piya seemed to have stumbled upon something interesting and handed the tablet to her Dad.

Chen Pingsheng was brewing some health tea. He took the tablet and saw a young man holding a sign accusing Yateng Short Drama of being unscrupulous profiteers.

His brows slightly furrowed as he scrolled down to the related topics, which turned out to be all criticisms about how Yateng Short Drama was a plague on the middle-aged and elderly.

The traffic on the related videos wasn’t high, but the comments below were uniformly negative.

There were even a few sharp comments directly insulting people.

“Shameless short dramas are abusing the middle-aged and elderly. After filming ‘The Overbearing CEO Falls for the Sanitary Auntie,’ are they also going to film ‘The Overbearing CEO Falls for the Sixty-Year-Old Divorcee’?”

What can I say, modern short dramas have become something that normal people can’t bear to look at directly.

The word ‘vulgar’ isn’t enough to describe it.

Yateng is considered the pioneer of the short drama genre, and indeed, they made a fortune from short dramas in the early days.

They still have a market value of nearly twenty billion.

And last year, they released “My Old Partner is a Tycoon.”

A lot of middle-aged and elderly people actually spent thousands in a month to watch this short drama.

If it were just about spending money, there wouldn’t have been children protesting with signs in front of Yateng Short Drama’s headquarters.

This kind of theme is most feared for influencing some abnormal Old Fairies.

Like this man’s mother who was nearly sixty.

She had been married to her husband for thirty years and was still infatuated with her overbearing CEO ‘little brother’ online.

And this change started when her son bought her a tablet and downloaded the Yateng Short Drama APP.

The content was short and fast-paced, enough to satisfy every Old Fairy’s utter fantasy of a powerful CEO.

Take this man’s mother, for instance; she was quite confident, with her charm undiminished by age, maintaining her allure like a classic beauty from The Bund.

If she were to be single again, she could easily find a young, domineering CEO.

He wouldn’t just be wealthy and handsome, but would also be utterly devoted to her for life.

Not even glance at other women.

Chen Pingsheng felt quite helpless about these Old Fairies. He opened up the Yateng Short Drama APP.

It was filled with Old Fairy-themed domineering CEO short dramas.

For example, a 28-year-old domineering CEO falls for a 50-year-old janitress.

A top star falls for a divorced maid in her early forties.

A 70-year-old lady who picks up trash, ends up finding the richest man in Huaxia.

Then, as you know, the 70-year-old tycoon falls for me, the trash picker.

It’s not just outrageous; it’s goddamn preposterous.

Turns out quite a few Old Fairies love watching this kind of stuff.

Chen Pingsheng unconsciously pinched the bridge of his nose, it was quite the eyesore.

This kind of content, he had actually axed a lot of it previously at Tengying Entertainment.

One could argue that young girls might develop improper values because of these unrealistic domineering CEO plots or love coaches.

But what’s the deal with these dramas for the elderly? These are people who’ve lived for decades.

Can’t they see at a glance that these things are just meant for entertainment?

If such content could influence values, then should Tom and Jerry be complained about for violence?

Short dramas are lucrative precisely because they rely on middle-aged and elderly people purchasing memberships.

Such memberships cost much more than those of regular streaming sites like Aiyouteng.

Chen Pingsheng certainly wouldn’t shut down a top short drama company with a market value of over twenty billion just because of an Old Fairy whose head got kicked by a donkey.

Some things are just like that, just slightly possessing normal human thinking.

One wouldn’t believe that a domineering CEO in his twenties could fall for a fifty-year-old janitress.

Outrageousness opens the door for its mother, Pingsheng couldn’t have imagined that the Old Fairy really believed in this stuff.

He handed the tablet to Er Piya and temporarily didn’t bother with these matters.

That man holding the protest sign even specifically set up a Yateng Short Drama Victims Group.

According to them, their parents were all harmed by Yateng Short Drama.

They demanded compensation for all sorts of mental distress.

And then to shut down these kinds of videos.

Even more exaggerated, to completely ban this type of middle-aged and elderly video content across the entire network.

President Zhou Dong of Yateng Short Drama was on pins and needles at this moment.

What kind of person the big boss is, he knows better than anyone.

Previously at Tengying Entertainment, for producing those modern idol dramas with incorrect values, even the esteemed secretary Bai Xin was severely criticized.

Any that were made or finished but not yet aired, all were directly removed from the shelves.

Just this wave alone resulted in at least a seven or eight hundred million pure loss.

It even led to the banning of all the toxic emotional guidance hosts on the internet.

They banned it on their side, but other internet celebrity economy companies did not.

After Xin Teng and Teng You Media gave up on the emotional guidance hosts category,

There suddenly appeared a huge void in the market, sustaining god knows how many of such talent agencies.

Great, now with so many people causing a scene, if the big boss finds out, he fears he would also be in trouble.

Short dramas aren’t like regular dramas; each episode is only two or three minutes.

Competition is getting fiercer, and the production cost of these things is inherently low.

There’s nothing abundant in this country except for the extras, they’re everywhere.

Once filmed, they can be uploaded without the need for approval.

That’s the main reason why short dramas could grow so wildly.

“President Zhou, those people downstairs have filmed quite a few short videos. We’re not the big boss; we can only block so much. Even if we don’t tell the big boss now, I’m afraid he might accidentally come across these videos.”

Zhou Dong is the current president of Yateng Short Drama, and all the executives here are from Tengying Entertainment.

How refreshing it was to fight alongside the big boss to conquer territories back in the day, and now they’ve all become Marquis Level figures.

“I’m just worried the big boss might have opinions about us.”

“You’re overthinking it, the big boss only opposes the promoting of unhealthy values. But the stuff we’re making, any normal person with a brain would only take it as entertainment junk food to pass time, whoever believes it is an idiot.”

Zhou Dong thought so as well.

These short dramas, if he weren’t the president of this group, he wouldn’t bother to click and watch at all.

This matter, to be honest, can’t be blamed on them, only those brainless women.

They haven’t done anything wrong.

Both of them called Pingsheng, and the direction they received was to handle it themselves.

This gave Zhou Dong a great sense of relief. As long as the big boss had nothing to say, they would be utterly fearless.

It was nothing but a bunch of Old Fairies blaming everything, including the air, how could they possibly extort them?

This incident is not small, not just Yateng alone; many people are complaining online about these short drama productions.

The related authorities who reacted, also sent out messages from Capital City.

Short dramas, like TV dramas, will need to obtain an approval to have the right to broadcast.

This also means that the wild age of short dramas will officially come to an end.

With just a hint of a rumor, Yateng’s stock price faced an avalanche.

Unable to be stopped.

And there would be no significant capital intentionally blocking, because they knew there would be a day like this before the IPO.

When capital took part in Yateng Short Drama’s IPO, Pingsheng already made it clear.

The state would definitely regulate it, a matter of sooner or later.

When unregulated it’s profitable, once regulated it becomes extremely limited.

Don’t even talk about maintaining a 20 billion market value, a 50% crash wouldn’t be surprising.

Even maintaining 10 billion would be extremely difficult.

Such is the power of a single official document.

Luckily, Pingsheng had already cashed out early, leaving only the last 5%.

Let it fall, the stock market is risky and no one can guarantee everyone will always make money.

The major shareholders had long since cashed out, now those losing money are just the minor shareholders and individual investors.

Source: Webnovel.com, updated on Novlove.com