股權分配，涉及到價值創造、價值評估、價值分配三個環節。股權分配，最終是為了實現價值分配。要合理科學地分配價值，就要弄清楚價值創造的起點。而不同的公司類型，創造的價值不一樣。

Equity distribution involves three stages: value creation, value evaluation, and value distribution. Equity distribution is ultimately aimed at achieving value distribution. To allocate value reasonably and scientifically, it is necessary to clarify the starting point of value creation. And different types of companies create different values.

一是資金驅動型的企業，他們的核心競爭力就是資金。比如VC和PE，他們的核心產品就是錢，能在上游拿到大量的、低成本的、長期的錢。而他們的分錢模式通常是二八開，資金管理人（GP）拿20%，有限合伙人（LP）拿80%。

One is capital driven enterprises, whose core competitiveness lies in capital. For example, VC and PE, their core product is money, which can obtain a large amount of low-cost, long-term money upstream. And their revenue sharing model is usually 20% split, with the fund manager (GP) receiving 20% and the limited partners (LP) receiving 80%.

二是資源驅動型的企業，資源是公司的核心競爭力。這種資源包括國家政府資源和不可再生的天然資源。例如中國銀行和中國移動，就是政府資源；中國石油，就是天然資源。這些都是政府壟斷經營，資源是它們的核心競爭力。

The second type is resource driven enterprises, where resources are the core competitiveness of the company. This type of resource includes national government resources and non renewable natural resources. For example, Bank of China and China Mobile are government resources; Chinese oil is a natural resource. These are all government monopolies, and resources are their core competitiveness.

第三種類型是人力驅動型的企業，團隊是公司的核心競爭力。例如華為、阿里巴巴、騰訊等。人力驅動型的企業，啟動資金不大，亦即意味著公司的存量價值不大。公司價值的創造，更多是靠人力去創造增量價值。

The third type is human driven enterprises, where teams are the core competitiveness of the company. For example, Huawei, Alibaba, Tencent, etc. Human driven enterprises have limited start-up capital, which means that the company's stock value is not significant. The creation of company value relies more on human labor to create incremental value.