Salted Fish’s Self-help Strategy

"How many brushes did I buy by this? Just brush it to the first place. This arrogance is close to us. We don't know if Apple is not satisfied."

"Niu! Really cow! Stealing the limelight of "This Kung Fu Thief", the original original was forced to change its name directly! How about you change the name? How about calling "This Iteration Thief"?"

This kind of nonsense made Chu Yuanxi laugh when he saw it, because even if there were dozens or hundreds of one-stars, would it have any effect on the score? More than a thousand five-stars and a larger four-stars are enough to submerge this sour sauce, without Lu Yu contacting the Shui Arms Control Review, and it doesn't affect the mood at all.

Therefore, Chu Yuanxi was still in the mood to talk to Lu Yu, mainly to second Feng Xueling. Feng Xueling’s food exploration shop eating and broadcasting video did not become particularly popular after it was put on the Internet, but because it always maintains continuous content output, and food is the number one weapon in the Raiders Internet, Feng Xueling’s appearance is high, so the lower limit itself is also low Not where to go.

Her video was exported through Monica’s establishment of a youtube channel in late September. In a little over a month, with Monica’s guidance, she has already gained 300,000 fans in her early days.

This speed is not undesirable, and it has shown a trend of becoming popular, because it is difficult to enter so many subscriptions on youtube based solely on traffic guidance, and the key is that there are so many youtube fans in the Pakistani overseas matrix. Of course, this didn't count Monica's private account, and it shouldn't.

So natural powder absorption must be the main part of it.

What's less ideal is that there are no big hit videos, and the most played videos are several million, not tens of millions, so I am embarrassed to call myself a YouTube influencer.

But Feng Xueling’s relationship is in Pakistani information. In the next stage, if Zhao Jie starts to work on the American market, Feng Xueling can play a very good auxiliary effect, but she needs to transfer all her energy to the promotion of the game, so she has to be officially seconded. .

Chu Yuanxi came out to talk in person, and Lu Yu was powerless to resist, only to accept it. But this can definitely be regarded as a loss for Pakistani information. If you lose, you have to make up for it. In this spirit, Lu Yu said: "Mr. Chu, can you help me with a small favor?"

"How small is it?" Chu Yuanxi suddenly felt that Lu Yu's request was not simple.

"That's it. The advice you gave to the robot for making videos is particularly good. It is now my main output, and it is generally popular. The average number of views and likes are obviously high..."

Chu Yuanxi said, isn't it? The robot is so obedient, and it can walk with electricity, and it doesn't make you tired even if it rotates for 24 hours. This is to be replaced by an artist, and the strenuous exercise in the middle of the night will not cause sudden death?

Just listen to Lu Yu continuing: "But our robots only pay attention to practicality and special needs, and there are no celebrities and big names."

"what do you mean?"

"Can you buy a Boston Dynamics dog?"

"Hiss..." Chu Yuanxi said that your request is tricky! Boston Dynamics began to pre-sell the robot dog Spot on September 24 this year. Vice President of Commerce Mike Perry said that the annual output in 2019 will be 100.

This number suffocated customers all over the world, and he immediately added that the output could be increased to 1,000 by 2020, making people wonder whether their robot dogs are purely handmade, or why it is so difficult to produce. What? More difficult to give birth than Nezha.

Some people even find that there are too many people in front of them after queuing up. How about suggesting that Boston Dynamics change to auction? This is a scarce resource, and the auction is also recognized.

To be honest, this suggestion is actually quite feasible, at least the world's media players will go crazy. But the Americans are rigid in their minds, and such good suggestions are not adopted.

Chu Yuanxi squinted at Lu Yu, and said to his heart that he could make this request. Could it be that he already knew who Elizabeth was? Otherwise, how dare you make such an excessive request?

"I can only help you ask, but if you really get the power dog, what do you want to do? And you have to know that the most popular one is no longer the robot dog, it is the robot warrior."

"That's a special effects video, OK..."

Lu Yu was actually very greedy for the robot warriors. It was really shocking. No matter how he interfered with punches and kicks, the robots could accurately identify the target in battle. This would be a nightmare for human soldiers if it were to be put into the battlefield on a large scale.

As a result, someone later told him that it was just a special effects video, and that no such robot was made at all, which was quite sour.

I saw Chu Yuanxi curl his mouth, "It's a special video, but the Atlas robot in Boston can already do gymnastics, do you know? Turn around 360 degrees on the spot, stand upside down with somersaults, carp stiff, all these can do Now, is it still far to evolve into a robot warrior? Let’s talk about what you want a power dog to do first."

Returning to Chu Yuanxi’s question, Lu Yu thought for a while: “It’s best to also mention some of our special needs, such as selling cuteness, helping the owner bring things and giving things, and so on. I plan to be a power dog with a real dog. The video, the main feature is realism, with fake and real. I think Sister Zhu Yan's piece called Rado is good."

"I'm afraid that when the U.S. people say that this is a high-tech product, and embargo on us, it will appear that we are particularly mentally retarded, you know?"

Chu Yuanxi had to admit that the Boston Power Dog is very powerful in mechanics and dynamics, and there is still nothing in China. But only from the perspective of robots, whether the robot dog Spot or the robot Atlas, it seems that it is not completely impossible to catch up. Otherwise, Google had no reason to regard Boston Dynamics as a chicken rib, and then dumped it to Sun Dasheng.

While Chu Yuanxi and Lu Yu were chatting, there were also two men chatting at Zheng De's headquarters in Sanlitun. One is Yuan Jing, and the other is Wang Jiapeng whom Yuan Mu intended to introduce as a consultant.

Jiapeng Tuoyu has gone through bankruptcy and liquidation, and while getting rid of all economic burdens, Wang Jiapeng also had to enter a period of personal stagnation. According to the national law, from the completion of the liquidation of this bankruptcy, the entrepreneur cannot serve as an executive of any company within three years.

Some entrepreneurs will use this time to recharge and go to school, but Wang Jiapeng intends to apply for a job at Zhengde Fund, so he can do business without being an executive. Although this intention is surprising, as an entrepreneur who almost succeeded and died in the big environment, Yuan Jing had to think carefully.

Although the other party just let them make an early investment of 10 million yuan, the field of early education and preschool education is still recognized as one of the most attractive fields for investors in China. The ability to make money is strong, and the market is large, especially in first- and second-tier cities, which are basically just in demand, and there are barriers to entry, and no one can do it.

The only problem at present is the problem that Wang Jiapeng is encountering. The economy is severely cold. In the cold winter, many rigid needs become less rigid. Some users really have no money, and some are due to other reasons. In short, the unit price must be drastically reduced, which is a serious embezzlement of profits. Even change the valuation model. But when the cold winter passes? Therefore, there is an expert who is deeply involved in this field to make investment. It is a matter of serious consideration for investment institutions above the designated size, regardless of whether the expert has just gone bankrupt.

Entrepreneurs with rich entrepreneurial experience jumped to the opposite side to invest, and there are not too many successful precedents, so Wang Jiapeng is very calm. He knew that Yuan Mu intended to introduce him to Xiaokang as a consultant, and he also knew that he was rejected by Xiaokang's president, so it was easy for him to talk about Xiaokang.

Chu Yuanxi had seen the situation of family friend's childcare, and he hadn't seen Xiaokang before, but every time he thought of the happiness of Xiaokang, his heart was full of unwillingness.

Therefore, he found an opportunity to immediately ask his unwillingness: "Mr. Yuan, I just don’t understand, why didn’t you sign any gambling when financing Xiaokang? All of your investors didn’t seem to mention this requirement? Is it here? Is there any secret?"

Gambling is undoubtedly the death knell of the trend’s Pengtuoyu. If there is no gambling, he can stop running wildly at many nodes, but the gambling agreement forces him to go to bankruptcy at the fastest speed. end.

If it is the investor who made the right bet, the entrepreneur did not agree, and a round of financing was still carried out after negotiation. This is not impossible. Some of the financing is going backwards four to five years. But even this process is quite rare this year, because let alone a gambling, some entrepreneurs are willing to sign unlimited joint and several liability in the deep economic cold.

However, the investment of Xiaokang is actually that no one raised a gambling, and it was two rounds of financing, several hundred million, which is too incomprehensible. In fact, there is a third round, but in the third round, the Pakistani contracted A+ for $ financing. Investors know that but outsiders don’t know.

"There must be no hidden emotions. No one mentions that gambling is a tacit understanding." Yuan Jing pressed the frame, usually when he made this kind of action, it represented a certain embarrassment.

Seeing that Wang Jiapeng didn’t understand at all, he had to say a little bit more clearly: “For example, I hope that Chu Yuanxi will not raise a gambling, and I will not participate if I raise it. He signed it when he was financing the Pakistani Group. Gao's bet was completed in one year. We lost a lot, you know? Last year, if I knew he could complete it and it was so easy, when he offered to bet, I would not agree with anything."

In fact, the more practical situation is that, except for Xu Xin and Hu Shiheng who were invited by Chu Yuanxi to come in, other investors knew that it was not easy to invest in. Next to it was the Pakistani Group holding a lot of cash as a nuclear deterrent. Who If you don't want to vote, you can say it clearly.

"Tell me about you, Jiapeng, which field of business do you want to do?"

"Before I still wanted to work in the early childhood education industry, but recently I have a very different idea." Wang Jiapeng has already thought about it before coming. It can be said that the whole thing is where he thinks he has an advantage.

"What? Change into an investment in online education for people?"

Yuan Jing’s thinking is normal. Adult online and early education are two extremes, but Wang Jiapeng smiled self-consciously: "Is there a difference between being a human being education and selling insurance? Isn’t it all about selling things regardless of what users use? I still can’t use it... Adult online education is essentially anti-intellectual. If it’s difficult, no one can use it. If it’s not difficult, it’s useless."

"then you?"

Yuan Jing looked at Wang Jiapeng puzzled. Wang Jiapeng was also watching him, and Zheng De's growth history flashed through Wang Jiapeng's mind.

In his eyes, Yuan Jing is a European emperor, and it is a miracle that Zheng De can develop.

Tianchao's local PE/VC organization was established in a blowout around 2000. 1999 was hailed as the first year of Tianchao Venture Capital, because it is said that the GEM is about to come out. Later, in the first year, it turned into resentment, and this "almost" was just 10 years away.

Then I experienced the five-year long bear of my big A shares, which is also the first cold winter for PE/VC institutions. At that time, the entrepreneurial environment was not as mature as it is now, but the entire venture capital industry has been closely tied to the Internet industry. Among them, those that can effectively use the help of investors quickly sprint to the front row.

Baidu is a typical representative and benchmark. It won the IDG 1.5 million investment in 2002 and finally became one of the top three in BAT.

Local venture capital in this era is facing a very embarrassing problem-how to withdraw? The A-share entry system makes it difficult for real startup companies to get listed. Fundraising, investment management and retreat, the last link is not connected, the whole logic is wrong. This situation did not appear until 2004 and 2005, when two major events occurred in the big A shares.

In 2004, the SME board was established; in 2005, the share reform.

Of course, all this has nothing to do with Zheng De. The Zheng De Fund was only established in 2006, and it was a trust at the beginning. But in fact it is also related, because if Zheng De was established a few years earlier, he might have already kneeled. In that ancient barbaric era, the venture capitalists who were beaten to death by the great waves of the times are unknown. The heroes who can survive.

Even so, a small fund like Zheng De, who was born and raised, had no sense of existence in that era, because around 2005, the $ fund had begun to enter the market in large areas. There are foreigners such as Tiger Fund, Sun Dasheng, etc.; there are also Sequoias that combine local and foreign interests; and those who directly turned into local venture capital with $. Hillhouse is a start-up fund that started at Yale University. The main investor of Xiaokang, Xu Xin At that time, he was called the queen of investment and left his old company to create the contemporary capital group.

Recently, Xu Xin has been in the IPO market for a while. Two of the top three snack consumers have invested, three mice have already been listed, and Yipin Xiaopu will soon have an IPO. This year's best investors are probably locked in the top three.

With so many foreign monks and local giants, how difficult is it for Zheng De to advance with small arms and legs?

Not difficult, because the ChiNext, which was started in 1999, finally opened in 2009. Opening a board is equal to opening a meal. In this wave of huge dividends, as long as any small fund can eat a listed project, it can immediately rise to a higher level.

So all that is needed is European gas.

When Zheng De was founded in 2006, it was only the Yuan family who had some money in their hands, so they decided to do something big together. At that time, Yuan Mu was only 19 years old and was still studying overseas. Yuan Jing is 32 years old. He returned from studying abroad. He drank some foreign ink. He has work experience in an investment bank in the United States. He is one of the best players in the Yuan family. Therefore, his father entrusted him with important tasks.

As a result, the company has undergone major changes a year later. The Yuan family has lost the leader. Yuan Jinglinwei was ordered to take charge of the fund that had just set sail. Then he actually pressed Bao on the start-ups that seemed to have no hope at that time. Zheng De also learned from The trust gradually transformed into a PE/VC institution.

The so-called VC is the early stage of venture capital, which relies on slapped heads to throw money, while PE means to invest in financial indicators. Relatively speaking, they invest in more mature companies. When Yuan Jing was in office, no one in Yuan’s family coveted the position of president. Many people even accused him of making a hasty decision. However, the investment industry has an important feature-

As long as the limited partner LP has money, it is responsible for paying the money. Although the GP is called a general partner, it actually needs to manage the fund and has high qualifications. Whether you have a reputation for performance, whether you are fully focused, whether you have unique skills, etc. If you don't have these, at least you must have work experience and education. These are things that the Yuan family only has cash cannot reach.

As a result, Yuan Jing and Ou Huang were possessed. It took only three years. Some early-stage invested companies just met the listing criteria. It takes three years at the earliest for many projects from fundraising to maturity. However, the GEM has just launched. As a result, local venture capital companies ushered in the first large-scale explosive growth. Zheng De invested in dozens of startups. Two waves before the opening of the board, he invested in Wangsu Technology, Saiwei Smart and BlueCursor.

Not only Zheng De, but also many PE/VCs have posted. The myth of getting rich overnight is spreading across the banks of the river~www.ltnovel.com~ Not participating in PE is officially coming.

That era was abnormal. All the wealthy people went crazy. With the sound of the GEM, countless PE funds were pooled to invest in the Pre_IPO project. Local venture capitalists have worked hard for many years and finally waited until this day. Then they found that they were lying in a big trough and the market ecology suddenly changed. What value investment is not value investment?

Soon, the GP lost the right to decide, and the power to invest was taken away by the LP, that is, the funders. The work of the GPs became fundraising, and the ability to find money became the only indicator to measure private equity funds. Then, from the investment perspective of LPs, of course, they don't consider the growth of the company. Whether IPO is the only criterion. Projects with annual net profits of more than 30 million in the market were chased by wealthy PE institutions.

But such a good thing as Pre_IPO must be scarce resources, so relationships and contacts have become the first, rather than professionalism of investment. This is the inevitable outcome of a large number of people, and the result of downward transmission is that the valuation of companies to be listed has risen, and even reached 20 times the price-earnings ratio before listing, but institutions still need to grab to grab the share.

Zheng De made a lot of money after 2009 because of Yuan Jing's hasty decision in 2007. The return on investment of a single project is dozens of times, which is equivalent to a pig standing on the wind. And with the continuous expansion of the Growth Enterprise Market, companies that have invested in these three years have been listed one after another. Zheng De has gradually mixed into the circle of medium-sized funds within the scope of the country. .

But at this moment he counseled, others were greedy and I was afraid, and this counseled the essence of the European Emperor.

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