Liu Erhai, an early Mobai Investor: when you are strong enough, you don't have to be with giants
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Tech Company Date:06-05 145 Belong to:notice
Li Yun's note: This is a speech entitled "crossing the devil channel" by Liu Erhai, an early investor of moBay and founder and executive partner of happy capital. In his speech, Liu Erhai said that today, China's entrepreneurship has reached a new stage and has been upgraded to all-round competition of products and teams. The rapid growth of enterprises and the strong admission of giants require entrepreneurs to study and create the unique value of their own enterprises. Source: innoangel (ID: innoangel 99) author: Bian Xiaocao
What is & ldquo; Devil channel;?
The theme I share today is "crossing the devil's passage". A closer look at many enterprises now, including the bike sharing mentioned just now. For a time, everyone said that there were too many bikes and the colors were not enough, but only about three colors survived in almost a year.
From the previous group purchase, special car, catering o2o and video portal to the later shared bicycle, video live broadcast and used car market, we found a common feature that almost every major industry has to undergo a baptism.
There are three phenomena in the formation of this commonness: 1. The competition is escalating rapidly; 2. Rapid growth of enterprises; 3. Giants enter the game.
I. the competition is escalating rapidly. Once I met an investor in Sanlitun. He said that the shared bicycle you invested blocked our way. Don't you feel a little guilty as an investor? I'm sorry, but the competition is so fast and fierce.
II. The enterprise is growing rapidly. From the absence of cars to 800 or 9 million cars, the only time in a year is tiktok, which now affects the Tencent's friends circle.
Why can enterprises grow so fast? One important reason is that it is very easy to find users on the Internet, so these enterprises can succeed quickly. In addition, the capital support of investors has also accelerated the growth rate of enterprises.
A foreign investor once asked me: & ldquo; Why are you trying to give money to the enterprise& rdquo; It looks like crazy investment. In fact, we know what we are doing. This is the rules of the current battlefield. We have no way. The influx of a large amount of capital also promotes the development of the enterprise. As a player, you must abide by it.
III. giant admission game. Giants can be seen in almost all industries, which also brings different challenges to friends here: do you want to stand in line? What if the giants vote for others without standing in line? Startups are in fear and anxiety.
From what we have seen, if an enterprise wants to succeed, it must go through the devil's channel, go through the process of rapid upgrading of competition, rapid growth of enterprises and the game of giants.
“ Others & rdquo; How did you cross the devil's passage?
How to cross the devil's passage? Let's go back to business essence and business model. For two examples, we can see how these enterprises really cross or are crossing the devil channel.
The first example: Weilai automobile. Weilai automobile mainly surpasses its competitors in technical engineering ability, and the most important thing is their engineering ability.
On October 12, 2016, at the north ring circuit in Nurburgring, Germany, velai ep9 set the fastest electric vehicle lap speed record with 7 minutes and 05 seconds; On February 23, 2017, in the driverless test at the American circuit in Texas, the United States, ep9 set a speed record of 257 kilometers per hour, becoming the fastest driverless car in the world; On May 12 of the same year, ep9 broke the record again with a score of 6 minutes 45 seconds 900; On December 16, Weilai automobile officially released the first mass production vehicle es8.
The second example: Jingdong. JD doesn't have much technology. Everyone here may do better than him. In that year, compared with Dangdang, excellence and Amazon established earlier, what did JD rely on to surpass its competitors?
In fact, the key lies in JD's logistics of large items, which does not have much technology, but complements the immature part of the value chain. The improvement of infrastructure can also create value and help enterprises cross the devil channel.
The secret of Weilai automobile and Jingdong crossing the devil channel is engineering technology and perfect infrastructure.
Pleasure capital has made a lot of investment. We have a & ldquo; Base area oriented investment & rdquo; Investment strategy. The so-called base area means that the area is relatively broad and multiple investments can be made in this field. We have invested one of the best projects in this field; Finally, we have deep contacts and profound understanding in this field.
What is & ldquo; Devil channel;?
The theme I share today is "crossing the devil's passage". A closer look at many enterprises now, including the bike sharing mentioned just now. For a time, everyone said that there were too many bikes and the colors were not enough, but only about three colors survived in almost a year.
From the previous group purchase, special car, catering o2o and video portal to the later shared bicycle, video live broadcast and used car market, we found a common feature that almost every major industry has to undergo a baptism.
There are three phenomena in the formation of this commonness: 1. The competition is escalating rapidly; 2. Rapid growth of enterprises; 3. Giants enter the game.
I. the competition is escalating rapidly. Once I met an investor in Sanlitun. He said that the shared bicycle you invested blocked our way. Don't you feel a little guilty as an investor? I'm sorry, but the competition is so fast and fierce.
II. The enterprise is growing rapidly. From the absence of cars to 800 or 9 million cars, the only time in a year is tiktok, which now affects the Tencent's friends circle.
Why can enterprises grow so fast? One important reason is that it is very easy to find users on the Internet, so these enterprises can succeed quickly. In addition, the capital support of investors has also accelerated the growth rate of enterprises.
A foreign investor once asked me: & ldquo; Why are you trying to give money to the enterprise& rdquo; It looks like crazy investment. In fact, we know what we are doing. This is the rules of the current battlefield. We have no way. The influx of a large amount of capital also promotes the development of the enterprise. As a player, you must abide by it.
III. giant admission game. Giants can be seen in almost all industries, which also brings different challenges to friends here: do you want to stand in line? What if the giants vote for others without standing in line? Startups are in fear and anxiety.
From what we have seen, if an enterprise wants to succeed, it must go through the devil's channel, go through the process of rapid upgrading of competition, rapid growth of enterprises and the game of giants.
“ Others & rdquo; How did you cross the devil's passage?
How to cross the devil's passage? Let's go back to business essence and business model. For two examples, we can see how these enterprises really cross or are crossing the devil channel.
The first example: Weilai automobile. Weilai automobile mainly surpasses its competitors in technical engineering ability, and the most important thing is their engineering ability.
On October 12, 2016, at the north ring circuit in Nurburgring, Germany, velai ep9 set the fastest electric vehicle lap speed record with 7 minutes and 05 seconds; On February 23, 2017, in the driverless test at the American circuit in Texas, the United States, ep9 set a speed record of 257 kilometers per hour, becoming the fastest driverless car in the world; On May 12 of the same year, ep9 broke the record again with a score of 6 minutes 45 seconds 900; On December 16, Weilai automobile officially released the first mass production vehicle es8.
The second example: Jingdong. JD doesn't have much technology. Everyone here may do better than him. In that year, compared with Dangdang, excellence and Amazon established earlier, what did JD rely on to surpass its competitors?
In fact, the key lies in JD's logistics of large items, which does not have much technology, but complements the immature part of the value chain. The improvement of infrastructure can also create value and help enterprises cross the devil channel.
The secret of Weilai automobile and Jingdong crossing the devil channel is engineering technology and perfect infrastructure.
Pleasure capital has made a lot of investment. We have a & ldquo; Base area oriented investment & rdquo; Investment strategy. The so-called base area means that the area is relatively broad and multiple investments can be made in this field. We have invested one of the best projects in this field; Finally, we have deep contacts and profound understanding in this field.