Jinwei zhang ying: five successful investment details

source: 12 floor, block B

zhang ying, founding managing partner of China, invested too much media, 3 g portal, circles, icahn ambassador, storm video, poly bona film and television, Internet companies such as hua kang life and century.

as a famous domestic investors, zhang ying on investment maintained a maverick, he’s not used to easily believe he was told, not easily believe others to his principles. In this article, zhang ying from his own experience of industry trends, investment experience to share. This article from the CCTV documentary, interview the age of the Internet, there are truncated.

not embrace wireless Internet will die

wang2 xiao3 ya

for investors, judgment and choice is particularly important, determine the right may be a bonanza, determine the wrong is wiped out, may now have two kinds of views, such as a few days ago I interviewed xiao-ping xu teacher, he gave a definition of the Internet, he said is very classic, plus cement is the mouse, the mouse is the Internet, the cement is the traditional industry, if you are not in the face of the Internet, must not be eliminated, is die, how do you understand the future of the Internet?

zhang ying

there are a lot of PC s traditional industries, with PC, it also can develop well, because, after all, the screen of your usage scenario is limited, can’t take a PC was walking in the street, and then he has a lot of technologies, including fixed locations, are still not very mature, that s not necessarily every enterprise need to the Internet, but with the rise of wireless Internet, mobile phone of the common application, especially smart phones, has brought great convenience for you.

it’s really like xu teacher said, if you don’t embrace the wireless Internet, don’t you go to embrace the little smart phone screen, then you will die. Is likely to die in your flat, your competitors around you embrace wireless Internet, and then obtained the breakthrough, supported by funds again, they are better than you go away. You back to a certain extent, even if you don’t back, is marking time, your market share will be somebody else steal, you’ll be residual eats slowly.

wireless Internet scale is likely this year PC several times in the past, do today no enterprise, no matter what industry you are in, you will be deeply affected, even today, for example, we say that a bit further, oil exploration, oil development, I think the mobile Internet can bring a lot of convenient to the industry with a lot of high efficiency and competitiveness, in this case is very terrible, also let a person very excited.

▌ investors on behalf of the money but do not represent high above the

wang2 xiao3 ya

when you see these entrepreneurs, have a sense of a referee? Or use your unique taste or judgment, you will be able to change their fate?

zhang ying

don’t think so, simply speaking. Must a good angel and early investors to entrepreneurs, but can’t let these entrepreneurs to feel that you are above others. A lot of time because of their identity, because they have just started their own business, they would think so, because we represent money again, to some degree on their behalf the money of the difference between life and death, but must try to communicate with them on a brainwave, and can’t give the somebody else feel on high.

we have 30 investment team, a year a year in the face of meet start-up, meeting with four thousand to five thousands, up to now has over 50 this year, even so, calculate a calculate probability is 1%, cast a after you see one of the company, in this 99 possessions you say no, you have to do a fine details, let people feel to be the best.

wang2 xiao3 ya

this is a very interesting thing. Now we see a lot of successful Internet companies, for example, we see is a bright side: how successful, how expensive turned over many times in an instant. In fact you have said just now, for example may be hundreds of companies, to a company is selected. That is to say, behind the brilliant, actually has more failure, just you didn’t see.

I think excuse me in particular, for the Internet industry investment, what do you think of the success we all see, you cast such a pile of successful companies, to make money, so you don’t succeed, more that 99 companies, what they are, or what because they are not in the Internet industry come out?

zhang ying

this is a very solid analysis, there are a variety of reasons, actually pull these entrepreneurs together, is a small society. Society inside this all sorts of people have, have high low, short fat, character is also a strange, there are various, there may have overestimated market, there may have overestimated their products consumer acceptance and likely to overestimate their abilities, likely the contradiction between the teams, it is possible that the wrong investors, is likely to be broken, may say himself with other competitors, competition but the somebody else, may be out of the question on the operation, all sorts of all sorts of problem.

wang2 xiao3 ya

don’t say you to do this business, this kind of work do investment, make you very intensive reading countless people, read many things, so any existence is possible.

zhang ying

is that exactly. I saw, in the process of the nine years, you see, what you hear, and with entrepreneurs to experience things, really read person’s innumerable, if I go to open a psychological doctor’s clinic, I think I can be a very good psychological doctor.

▌ successful investors want to know shut up

wang2 xiao3 ya

to some extent, make investment, angel investment, in particular, need to be in a, may not have bud and is just beginning to sow, want to see it in the future life, you are to understand a lot, such as technical as well as understand the entrepreneur’s personality, his state of mind, very comprehensive, very complicated.

zhang ying

more must have the humanities side, must have the imagination, to dare to jump out the framework, to think about the future of the world, then you have to dare to adventure, but the risk is a boundary of adventure.

wang2 xiao3 ya

that is to say, in a scientific category of risk?

zhang ying

is, and when you’re on an industry more and more focus, the ecosystem will get through, your judgment will be more improved. If you say now if you have a media person out business, what do you want to be a media related with the future, will soon be able to have their own judgment, think the things can get rich, when you have a lot of experience, can make to many had looked very tenuous, but in the end is right.

wang2 xiao3 ya

smoking people leave the specific things, but can be very precise about specific people and things have accurate judgment. So in addition to the judge, I think a angel investment and there is a certain patient, a key is needs to wait for growth, and we are now society is worried. At the same time you need to know this seed is good, has not been played pesticide, or been scalding water don’t sprout, but this kind of mentality and judgment for angel investors are likely to be a special skill, how to keep both of you can never be dull, always very keen to keep these two points?

zhang ying

I think is more of a team, we now do investment nearly 30 people, do vote after service, from the government’s public relations to the media, to recruit, to medical service, medical service is the founder and lineal relatives, in the event of a major medical accident, I have a colleague with they go to a hospital looking for experts, is to make them feel someone care about them.

this thing very, very useful, is not happened all despise nothing, when children fracture occurred, the old man suddenly this sudden disease, stroke, or cancer in different people in the home, we can help him to arrange this kind of hospital, to find the appropriate doctor, this kind of life and death, they are very grateful, and then I said just now recruiting, this a series of services, let them angels company in the process of development, when they met some trouble, give to him for help.

wang2 xiao3 ya

if we can understand into some angel company at the time of start, may be because some are not very important question to fold, you don’t try to help them to the nature of these problems, the transition of their past.

zhang ying

I would like to remind here, if you want to be a good investor, you have to find a good balance.

the first, you need to help the entrepreneurs in need of help, give them the right help.

second, you can’t take it too intervention of the things they do, and high above the tell people what to do, because they know your ten to twenty times, they should do these things than you know ten times as much as 20 times, if you have been teaching them, they have been listening to you to change direction, the company will never dacheng, jack ma, li, ma, I didn’t see any one of them will be investors by the nose, so I often remind our colleagues in this, you can communicate with him, with him to discuss strategy, you can discuss with him the product, but remember your identity, remember when to shut up, we should learn is often shut up and listen to a somebody else, then it is much in the right place to help the help, such as me, I think, now of I, in the company, one is basically a waste. Again, I to the judgment of the industry, I don’t think I stand the highest in the industry at the farthest prophet, my Chinese level is such, let alone predict.

third, practical help. Because I was more isolated, more introverted, although communication you can feel, but I don’t like social, no party, also do not participate in any Internet conference, I am also very large networks to introduce this to you, but, in turn, I have a platform, value-added services, where a lot of help, they can jump in, I become a super hub.

▌ investment would rather miss regret don’t see

wang2 xiao3 ya

today I feel quite surprised, because I saw the superman in your office, and is a bit of a cartoon, but it is a cartoon images, or hello winning mentality might take in everything in a glance, but I’m in the hallway and saw another picture, the picture with the picture is quite the opposite.

zhang ying

the picture is fragile hero.

wang2 xiao3 ya

what can you see in the see the hero as well as soft behind him. Just now we talked about a about the Internet, we can comb a for a while, you are a understand the spirit of the Internet, also was particularly well, then you talked about your anxiety, anxiety is also very good. What can you see in the see the hero as well as soft behind him. As an investor, miss so a kind of anxiety, if it is better don’t see? We have never met is better than miss in the heart by some.

zhang ying

Inside the

I give you a bottom line, because our investment team already more and more become very professional with vertical, such as some people are only responsible for mobile social, some people are only responsible for the mobile game, some people are only responsible for the so-called hot O2O today, some people are only responsible for mobile telephone. In this case, I will give their death command is, we are willing to judgment, to miss, but must be seen, must communicate with entrepreneurs, I do not receive a very good company, we have not seen.

wang2 xiao3 ya

you said just now that overturned my original cognition, I always felt most investors pay attention to the result, not making money is the absolute truth, would rather miss you speak today, also can’t accept not to have seen, in fact you are also more concerned about a process.

zhang ying

is, to some extent, because we shot a lot, now I am over 180 companies, for example, you tell me what is the best company, ten, you say I say 10, wait until three years later, the 10 has changed completely, could only three of four is right, the other six of the best company, changed again, so I don’t want too much comment, now basically all I just want to take refuge in the spectrum, they had done, have relevant experience, so that they can continue to do what they want to finance today, then give them enough support and patience to wait.

▌ from blundering circle

wang2 xiao3 ya

at such a speed is very fast, and will always be in the shortest cycle, have to determine a result, this time, let oneself have enough patience with you?

zhang ying

a strong heart, be independent thinking space, time, try to let myself sink down, patience, and only in this way, so I often remind our colleague:

the first, I said don’t unnecessarily party and social, especially don’t meaningless with fellow party to have a meal, don’t need, you can think clearly, because you are very mature and are very experienced, they can think about a case should be, if you want to discuss, discuss internally, don’t need to go outside the sound affect you, because he is not very serious and open to tell you is really of, because we are competitive.

second, keeping a distance with blundering circle, give yourself a day of time and space to think independently, in this way can I think in the long run better, at least I like this.

the third, no matter how good we cast the company in the short term, to keep a proper distance with entrepreneurs. Because you are with him a conflicts of interest relationship, if you become friends, became a sidekick, one thousand one day you stand in the interests of the opposite of pro, what do you do, in fact it is not easy to understand that many young colleagues, he would think I’ll talk to entrepreneurs to become a very good relationship, one thousand interest is hard to handle.

talks with zhang ying is only part of the Internet times, now we collected the “Internet age” complete, click on the lower left corner reading can watch online.

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