Yi Kai Vantage Capitals Ltd CEO (above Chinese: Entrepreneur Network)
about innovation, I think today’s entrepreneurs compared with ten years ago, there is a lucky place, there are unfortunate places. What is unfortunate place? Think carefully in the past ten years, especially in the first few years of our entrepreneurs, at least in the field of Internet entrepreneurs, with two hands stick.
is a model of the walking stick. In 1999, look forward to see what the United States model of fire, to transplant it to china. Walking to form their own unique competitive advantage, but the starting point of a lot of models, that is, simply take the other side of the model, to transplant it to the Chinese market. This is the basic starting point. Some people walk a little faster, some people walk a little slower, some people go a little closer, some people go a little wrong. All in all, to 2000, even to the time of 2005, is still very effective business model. Looking back, the first thing you can find is the most attention to the market; second, you can see what is the most investor attention. Based on this, you can think about what you want to do.
second stick is the capital market. From the earliest Sohu, Dangdang, has been listed these companies, as long as the model took over, after several rounds of venture capital. Of course, the middle market also has twists and turns, the market is good, the market is not good, a little higher, the valuation is low, but often the last through the Nasdaq, and some even went to the NYSE, in their own time, has not really put this pattern completely go through without having to acquire the size of the profit under the condition of complete listing. This is the last ten years to show the opportunity for Chinese entrepreneurs.
next is unfortunate. Unfortunately the two crutches, now temporarily not expected. Look at the United States today, the most popular, most investors concerned about the model, can not say one hundred percent, 90% are not transplanted to china. Because in the time of the rise of the Internet, both the United States and China, is to solve the most basic needs. YAHOO to solve the needs of information, Ebuy to solve the individual to individual needs, Amazon solved the retail demand. The development of the Internet today, the United States there are many new business model is based on local culture, humanities, and even social system. These things are transplanted to China, the foundation of the soil does not exist. So it means that starting today, our entrepreneurs do look back at this action when the efficiency has been significantly reduced, see not necessarily can be used.
look at the second stick, if the Jingdong with national play, but also to grab before Ali complete the listing. Not to mention the U.S. fiscal cliff, next year’s economic trends. Even if the US economy tends to be stable,