Chief Hugo shong: today is a good time of entrepreneurship


cloud network hunting note: chief Hugo shong IDG capital partners to deliver a speech at the inaugural Forbes China innovation summit, he thinks that with the acceleration of China’s marketization process, oil power bank, etc. There are a large number of entrepreneurial opportunities, this is a good age, business at the same time, he thought, manufacturing must have the thinking of the Internet.

the following is the full content of his speech:

we are using the iphone, but remember a few years ago I saw an article on apple, which said the Chinese earn less than 10% of the money, although there are buy local tyrants gold production. Show ourselves in the middle of the technical content is too low, do handling work, not their own original technology. At home have a lot of application technology, that is not to say don’t call the original, for example as yesterday, we actually pretty lucky, in China domestic market is very big, BAT, etc., like baidu, tencent unlike their competitors beyond 60% sales are on the outside, we mainly in the domestic.

we should be more to the world in the future. So I think multinational this investment opportunities should be more and more in the future. Because according to a lot of original technology abroad are leading, because it has many years of accumulation, after all. I have just talked about new energy technologies and medical treatment and so on.

now after startup of these young people, in particular, with the mobile Internet, more and more young, some friends said focus on how to face the challenges of the giants, but I think that in the era of giant now don’t you have to worry about a thing, why? I remember a few years ago everyone was talking about Microsoft how great, then I go to the America, people want me to bring the nokia mobile phone, now a lot of people want us to give them in turn take millet mobile phone. There is a little like Microsoft was now a vision is each table has its Windows, he has to do this, now we have changed the mobile Internet, actually makes you don’t need a table, also do not need a fixed time, as long as there is in fact a signal, as long as able to surf the Internet you can do what you want.

in this age of change is too fast too fast. 22 years ago when I was in shenzhen, the local finance, first is digital display, is HanXian again, feel very great, there is a big brother feel even more remarkable. Just a few years in the past, has become history, so I think everybody in this room, congratulate you, if you want to venture, this year many of them are under the age of thirty, you have a lot of opportunities, there’s a lot of possibilities.

in China at this time I think of manufacturing is one of our fundamental, for such a big country as China manufacturing production is certainly not. But what kind of way, I think the first thing any aspects of the business, must have their own mobile Internet strategy, you don’t do so will certainly be defeated. And one more thing is not to rely on experience, past experience completely is not important, I think must learn, rather than experience, young people to learn, learn from the new model. Why is that? Because this model is too new, no one has the experience, lessons, lost money could be more lessons. So at this point I think don’t rely on experience, must rely on their own ability to learn to make up for this.

in the eighty s, I early when a journalist, interview to go abroad, because of long an Asian face, to all those who asked if I was the Japanese? I said I am a Chinese. I will think of what we are now facing Japan, the Japan is the world’s foreign exchange reserves, the highest at that time, then we are very bullish in a foreign country, but people more money, it’s easy to make the biggest mistake in investment, but when the money is little less mistakes. This is my own experience, because you had less money more cautious, so see more clearly. When money is easier to make big mistakes, so when making investment must understand how to do this.

I think no matter you are money more or less money, do a good investor, the most important will always have a good state of mind to look at the market, the view of its products, especially its management team, our service object is, of course you want to see the product, the most important thing is that through the team entrepreneurs to introduce this thing to you, how do you judge this man, he has what kind of strategy, he has what kind of mentality. So, I don’t think there is any change on this.

why in China is facing a good opportunity, is now about the tiger zhou down, why is this? Now there are many areas we can go to China, the future energy oil, I can do such things, but these industries are in a monopoly position, so will cause a lot of corruption.

more marketization should be in the future? The future in the area of energy, such as electricity, will there be outstanding entrepreneurs emerge. Financial sector is also the same, of course. Can make money, the bank of China bank is a typical service industry, the bank is supposed to make money, but if the bank is China’s most industry transformation, there must be a problem, it is a service industry how to make money? Is here in the face of our future business, financial anti-corruption haven’t now, of course, in the future, I think in this area will appear more entrepreneurial opportunities, for our investors, of course, is a great boon.

another point I think I would like to add in the era of mobile Internet Zhou Hongyi speak a little, he talked about advertising is the most unreliable thing, I feel very right. Mobile Internet is not easy to be you, because you have a lot of information, this point on, is also wrong. First point information is really a lot, but it is true of false information. A girl she said, for example, there is a something to find her, she sent a things said this time I’m not in, I went to watch the game in Brazil, went to watch the World Cup. I thought she really go to, in the mobile Internet, I originally wanted to go, feel fly too far to go, but also a visa very trouble. Final there she is, I just make a phone call, a call she laughed, make half a day didn’t go to, in Beijing. So more people.

I said, this example is trying to make the mobile Internet age brings to the customer the biggest confusion is you must distinguish which are true and which is false, it is not the same as the traditional media. Such as Forbes’s things must believe it is true, don’t doubt it, it has a brand, how many years of accumulation. In the era of mobile Internet a lot of things are false, for the experience of us is a waste of time.

I think the future of mobile Internet is very different with traditional is, accuracy and authoritative become very important content, and the mobile Internet era, more is to rely on the media content to make money. Recently I am watching the movie, you also know that now the Chinese market in the world the second, a third of the us box office. In three to five years or so, as big as the U.S. market, and the film market is the most proud export industry, in the past five years without any growth, every year is ten billion, and there are certain downward trend. But as we will tell you a movie every day, such as transformers 3 its box office than the us box office.

another point I just mentioned, sports leisure, sports, fitness, and so on the aspects I put it to return to the entertainment industry, there are huge development space, why? Because we are all very concerned about our own health, not only is the work you need you, families need you, too, can do many things in it, for me as an investor must follow the market, with entrepreneurs to grasp how to get their contexts, judgment is very important to the market.

we IDG do risk investment in China is just 22 years, also for the more than three hundred companies, more than seventy listed companies, we are very focused on some of the development of mobile Internet industry, at the same time, I just mentioned, the new energy and health, and the entertainment industry, these are our future investment, including electricity and so on, of course, some of these areas.

the only constant thing is what? I think the market may be changing, technology also is changing, people management skills may be changed, but the only constant is what? Is your grasp of the market, the spirit of entrepreneurship and everyone here can not change, I have been joking, 90 young people, we IDG is also a 90 after the company, established in 93, so in 90 after the mentality to learn out something new on the market, some new areas, at the same time to find our own a good point, but China is now more and more open, some with an open mind to do it well. Very important at the same time, pay attention to your body, so you can entrepreneurial success, thank you!