VC schools of thought contend, bubble or not?

cloud network hunting note: Internet startup what bubble? Sohu IT recently organized a salon, co-win venture partners Wu Shichun chairman wang wei, the plum blossom, angel, origin Wang Xiaoying, media director of dreamworks SKG venture capital partners Lv Zirui, the teda investment director zhang peng, ooze and six yuan tong Tian Geng chief investment officer of VC bubble around the capital launched an angry debate. The focus of this article is to share with you the super VC’s point of view, some of their views may let you shine at the moment as an investor or entrepreneur.

co-win chairman wang wei bubble to both love and hate

investment or related industry for 20 years, feel the bubble is a let a person love and hate, high valuations investors in to be taken on the beach, but almost most outstanding enterprises are found during the bubble and growth. Bubbles often make everybody attention to the whole industry is very high, lead to irrational then some enterprise valuation. I used to cast the returns in the more than ten projects, basic didn’t tell someone stole it.

for the present, claims of a bubble from both home and abroad. Especially since 08 dollars more in the United States, this has been on the verge of transformation, the fed’s change of policy is not a simple one, is many times in a row, such as raising interest rates, rates next year will enter the storm and a large number of domestic hot money through the other ports in Hong Kong returned to the United States. The prediction of the whole capital chain next year must be more nervous than now, everybody enjoy bubble to bubble, in recently, there have been some changes, so the capital level you want to be prepared for a tight.

we haven’t the real wave wave started in China, including mobile Internet, here also includes the change of China’s capital market, why do you speak? Everyone always is now more hot some enterprises and the development direction, in fact, we should really think of is the next two to three years or four or five years later, don’t go to the auction market project. In the present environment, the direction of the next three to five years what real opportunity? Electricity pattern clear, at that time I think probably would be such a framework.

electrical business, including cloud, cloud computing, it is not just good we now push the private cloud structures, business model, the future is more a man-machine exchange platform, the platform there are many good application, similar to the IM big core under a lot of problems in the future, data arrangement may be in very important position, and the end-to-end data storage side, using the development team of cloud service efficiency including safety, and the application of intermediate especially human-computer interaction among demand is very strong. The trend of the future is not very clear, to receive direction of oboro industry earn money earn the most, see clearly subdivision direction, relatively less risk, return a bit less, but not return true direction.

plum Wu Shichun angel venture partners Not afraid have the courage to survive in a bubble foam

now there are two kinds of sound capital market, is a kind of bubble is very serious, and there’s a is now above the tuyere, have to cast the vote. I think now is the golden age of entrepreneurship, for entrepreneurs your golden age has arrived. What is the golden age? Longitudinal compared with the best, transverse comparative global best, this is called the golden age of modern entrepreneurs. We know that entrepreneurship is the most important driving force of the drive the market first, there is a market demand to have the chance to entrepreneurs. Startup now on the Internet and mobile Internet startup has three important opportunities, consumer upgrades, to transform traditional industry opportunities and a chance to globalization.

now for micro letter really is in the form of bubble for entrepreneurs is not a bubble, many projects, as long as your team direction in a trend, as long as your project by spectrum, team, basically, money is no problem. Now in the world’s ten biggest Internet companies, there are four in China, not including listed company didn’t like millet, six big companies in the United States. So China can only with the us Internet startup place side by side, and only with the United States and countries recognized by global capital markets.

look investments like a bubble, but for us is not the case, first shots are very early, and second, we won’t throw you, a project exceed the scope of our cognitive, like to see him this morning, the valuation or ten million, when we eat at night, he had twenty million, I will not throw this project. We generally not to rob the project, to those items don’t recognize your values, can feel you in take advantage of his, so we usually don’t find project, how to get to the road show that show one packing, after the media often valuations rise a lot.

bubble is blown out by the media, such as entrepreneurs, entrepreneurial state media in packaging companies everyday, bragging about these companies, the valuation will go to soon. Our many projects, our own cast out, feel better project, the people are pragmatic come out to start a business, he also got an idea, we listened to the ideas aren’t readily available, chat with him again, you revising the project, some do. Go outside often show projects, often most of the time in the rounds than VC also busy, collect business CARDS more than VC business card, this kind of phenomenon is not a good phenomenon.

origin capital partners Wang Xiaoying foam represents a new investment opportunity

it’s also true that entrepreneurial environment is very good, when it comes to bubble, in fact, as a VC industry practitioners, there are some bubble, a bubble is not necessarily a bad thing, with foam represents the new investment opportunities.

a lot of traditional industry, they added factors of the Internet and mobile Internet, actually bring to us, to provide for the whole life changed. Such as medical treatment areas, tourist areas, automobile industry, catering, and so on, these areas broke out a lot of mobile terminal APP, because the market is large enough, such as tourism market size alone has reached more than $600. From January 1 this year to now, the whole world of online travel, have been disclosed in the investment case is 77. Tour guide and destination, this year in September and October two months three investment case happened.

media director of dreamworks SKG venture Lv Zirui foam with or without the investment have

media, in fact, traditionally, the media only three can receive money: the first AD, second, whether a campaign or sponsorship are actually AD, including a special column is AD; The second is the difference, the media behind yourself what a guide electricity mess, is the earliest newspaper in the middle of the mail order, has twenty years ago, television newspaper gongxin CPA, earn price difference; The third kind is the commission, I drummed up in the middle, you give me some commission, commission of the traditional media is equivalent to say that I make an activity, including certain media and then make competition, after doing the competition, he asked if there are projects, his middle with one or two years, that I will not say.

back foam this thing, actually this thing can’t bubble, want to go with the flow, bubble is a bubble, not bubble, it is not a bubble, essentially, is not to say that while we were in a bubble is not willing to give money, is I’m going to see the entrepreneur’s ability to manage money. This is very important, if you did not even spend 50 yuan a day living, you don’t know spend 500 dollars a day, spend the ability and the ability of effective planning to spend money is slowly through practice. That is a lot of projects at once give him too much money, not to help him but hurt him, he will often take money to buy some things come back, take money to buy things often is gray, it’s not your real core values, is you take money to buy, is not your real accumulated data or user. As a project to take the money from 50% to 80% to marketing, and then have no money. You ask how I want money no problem, you tell me how to spend money, going to the money let I agree, that is a little bit more. The most afraid of that because the project was so expensive so I just so expensive, so goodbye to you.

the teda investment director zhang peng bubble is not terrible, terrible is have no common sense and logical blind

for bubble, bubble is a neutral, it does not matter good or bad, because it is a phenomenon of excessive prosperity. Says it is excessive prosperity that it promoted the prosperity, from this point of the bubble is beneficial, push the resources quickly developed into one or two areas, on the other hand the risk of a bubble in what place? Let’s resource misallocation, let us lose patience, will let us lose the original goal, will make people impetuous, this is a double-edged sword with good and bad.

we don’t care about the bubble, because of what? About several aspects, VC is so we do think about this question, first, the foam from the industry point of view is certainly have a bubble, the phenomenon of excessive prosperity, of course I don’t think for the individual is a bubble, I’m going to throw a project, the project is a trade, he highly valued you don’t have to throw, the bubble does not exist, I don’t criticize you, our self-criticism of this industry. We throw good enterprise with industry is not too big, I don’t care, I care about is he a good enterprise, it can meet the requirements of some consumer groups, the consumer groups is big enough, to help him grow up, whether using the Internet means or traditional means.

in the second place, we believe that the bubble will reflect on price. You don’t complain about this, for investment agency project pricing power is the embodiment of the reflect investment institutions professional, what do you think he doesn’t work. In addition, the foam phenomenon is cyclical, now have shattered again very normal, very normal, but for investment agency bubble it doesn’t matter, test of you, is there a bubble, you always have the positioning of the project, the project is a good project, what is a good project pricing, this is the basic investment institutions is not the cause of the bubble is your own reason.

we are more concerned about common sense and logic. We want to be able to understand what we pay attention to the common sense of the industry, and by understanding the common sense about the common sense of entrepreneurs in the industry, through the common sense to refine our investment logic, we in this way to identify what is really what bubble is true prosperity. Step by step through the horizontal and vertical industry into the ecological environment, we want to know what kind of link should be in what stage, what product is really has a long life cycle, what are the products are quickly destroyed by the reverse what products are replaced with other solutions to each other, we need to know what is investment point and the foothold.

so, the bubble is not terrible, without a common sense and logical blind to the most terrible.

ooze and yuan tong, chief investment officer Tian Geng “personnel gain achievements in three aspects: the” entrepreneurial project

we are angels phase review the summary of elements, is a way for the personnel three aspects. For entrepreneurs is all about, come first business model we want to do something, market has how old, what the user needs. For angel from people, they all say the same thing, incident is not so important, often on if you are the one about the same, we should start from the people get together and do what kind of things, this logic in back to you after this thing need to spend how many money, how much money, now what you need money, probably is such a logic.

one aspect, in the long run we will feel these things to retain. First mind is important, it is said you exactly how much you share and tolerance, and what is your ambition. The second is to have social responsibility, if you want to what is wealth? Wealth is nothing but this society owes you it is wealth. The third is about tolerance and sharing, personality, he can walk far, much of his ability of tolerance and sharing. On the issue of professional, we don’t see big company back, see if is a person to do things in our professional enough, so late can be converted into power. On the ability to communicate, learn to transposition thinking and incentive negotiations, an entrepreneurial teams face many problem, more time is to look at your personal charm and motivation, of course, the man also can stick to. Team for a common goal, is more reasonable to equity, including family harmony that we also recognized, family harmony that two things: one is the control, finds peace in his home is a personal control performance, another point you backward, will not make trouble to trouble in the middle.

what aspect, we focus on how you meet your audience, in addition to the user you are how to locate and how to control, how do you go to understand your users, this is more important. And how to use your own resources match your recognition of this thing, what makes you do this, that’s a question. The third is the main core competitive advantages, not grasp industry trends must be sure the power to do entrepreneurs itself, or to save hard to save others.

money this problem also is two aspects, one is that your own wealth, how did you spend your own money, how to plan. The second is not rational to expected capital allocation. By and large, we suggest the entrepreneurial teams initially standardize finance, in addition to the next question, standardize finance use money is reasonable. Many so-called investing tens of millions of investment company, by instalments, largely because see you use and keep commitments.

finally under the simple said this problem, the bubble bubble hot after a lot of people want to fly to heaven, and fly more superficial, direction changing every day, there are many others card, entrepreneurship is not the only option, he often entrepreneurship is forced, one being forced by yourself, we tend to push myself.

these are six super VC bubble around the capital to the basic ideas of the topic, these contents were able to see the angels for bubble theory views of vision, and can see the angels for the current business the golden age of affirmation, angels so bullish, entrepreneurs when rise to advance, hope more start-ups can rise quickly.

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