I'm IDG is said to be the second investor
First thing to say, but I really did not expect, I will do today's Internet industry investment.
I majored in computer engineering, study of programming, have a shadow on the Internet because most of my students become the man, and that I don't particularly like, feel very boring, and don't see where there is meant. Did not think himself fell in love with the Internet now.
In 2005, I graduated back into PricewaterhouseCoopers Consulting investment consulting, had just entered, no one take me on a project, everybody seems to think I am a drag, do not understand anything. So I started learning from 0 to 1 in finance, from 5:30 A.M. to 11:30 rain or shine every day, never rest a holiday at that time. Half a year later, began a colleague take me on a project, when I was suddenly able to read these reports when, aware of your feelings and be able to understand what is the story behind this report.
For two years after the investment advisory, I encountered a puzzle: my report has stated that companies have a lot of risk, but investors still vote; there's little risk of enterprises, investors did not vote. Every time I ask partners: "why did they not vote? what I write useful?" I would like to understand why investors would vote or not vote. So, I started to want to be an investor.
In 2011, I appointed Ali capital, it is Alibaba's specialized departments responsible for financial investment.
Ali, I immediately fell in love with the financial investments also fell in love with the Internet – I really like are the values behind the Internet. I would try to learn, Ali about his death and later led the "fastest" and a series of project investments.
Later, the Group decided to make strategic investments and financial investments sector consolidation, but I only like to do financial investments. In my opinion, actually financial investment is the investment of party, when I was in a small business investment for enterprise services, accompany business growth, and corporate contributions and value to society, in the process, partly because of my eye, this is a sense of happiness and fulfillment. Strategic investment is party a's State of mind, I vote for you, you have to do for my services, my business missing anything you give me.
A year ago, I left the company, after some consideration, chose IDG capital, Vice President, head of the business group, Hangzhou Office, currently the hottest mobile Internet, O2O, mobile websites are my daily meditation.
In the year of IDG, I was both investors and entrepreneurs. IDG partners comprehensive evaluation I said, "loujun is the most I've ever seen two investors who finds a pair of oxen pulling back. "
View of methodology and pattern "knock Halo"
When I first joined IDG, I feel like I was "with aura", but had to face is a merciless blow. I participated for the first time within the week after the meeting, really feel quite superficial, understanding of the project really only at the surface. My colleagues also found that IDG is cleverer than me hard. No exaggeration to say, aura of superiority and when I came in, a month is completely gone. Because of this, my workload is three or four times times the original Ali, Ali, when almost 200 projects a year, but in the IDG, 800 projects a year. Also, to be able to think more deeply, more highly.
IDG is a research-oriented VC, not interested in chasing hot spots, but hopefully through all kinds of thinking, finding hot spots in advance. It led me from past major projects by intuition, learn to set up their own investment system and theory of logic, realize their own methodology. I began to understand the pattern view and diligent in this matter. We have to analyze the situation in the IDG, always stressed the need to look at the patterns, the evolution of the market. I and colleagues sometimes will with "big pattern" of vision discussion various variety of problem, like "why media need has a newspaper, later why will has since media appeared does? and why everyone are is like do since media does? why now many since media began cut flow, but zhihou next will how evolution? since media of bottleneck in where? why since media forever small and beauty, why into can't platform? but zhihou and will has platform? collection long will points, and points long will collection is what mean? These are many of the underlying causes. We will do a lot of this kind of thinking, and encourage everyone to have their own independent thinking and insights.
"Partnerships like master to learn martial arts, and lakes, on the road"
At IDG, in fact, I took six months of time to fit. In this process in the, also often will has defeated sense, sometimes inevitably to find partner chat, and complained, each partner of feedback different, also is interesting, like, comprehensive General will with I share he had do had of SB of things, said truth also is can let people back confidence; had to macro will nail on the pointed out that problem; Li Xiaojun is love told cold jokes, like special thin of he had told had such a thing: "not like you now, I young of when most worry about of is I not riding tricycle, I MOM old said, You can't ride a tricycle, later married to help the family of coal you do. So let it be "... ...
It should be said, is different from the other was born in the United States, and later entered China's brand of VC,IDG capital was from the very beginning, born in China and the development so far, IDG capital was born, in the early 90 's, social investment had no idea at that time, developed into today's scale, it should be said was not easy.
This setting also determines the specific corporate culture, I feel that IDG's corporate culture is essentially an "altruistic" values, that are willing to share, partnership, mutual respect and support each other. Of course, this does not mean that works by harmony of IDG. See how items in our internal vote will understand, that really is to lead projects of colleagues do adequate research, full commitment, to shezhanqunru the course of discussion, any project will have different voices, in the face of everyone's question to give a reasonable explanation. IDG 20 years none of the projects was unanimous.
If you want to ask me why IDG can bring up so many people, I have to say is his partner in culture. Partner is, in essence, mutual respect, mutual trust and shared with each other. Everyone should believe that you said is the truth, rather than hualiyouhua. Partner of IDG stressed that culture, it's not one Fund, a project needs to have enough votes to pass. Anyone who wants to push a project, if not push in the past, we all respect the rules of the game.
Why do I need a partner? because everyone has their own strengths and weaknesses and point of view of watching the same thing differently. If several trusted people from the different dimensions of the same thing, and see more clearly. A person's strength is always limited.
I had explored for partners and comprehensive understanding. Well said, "to reach some understanding among the partners, I know your character, so I know what you said which is light, which is heavy. If you are a very optimistic person, if you're a project evaluation is, may I should be understood to only six points. If you are a careful person, you say the project will cast, it can cast, if you are a very optimistic person, you said that this project is not necessarily shots, partners must meet the tacit understanding it. "
In my opinion, benefits of partnership are obvious, and I can learn a lot from other people. Sometimes I feel within the IDG is like martial arts master to learn martial arts, and the road, and everyone has a different view. Well experienced, for example, there are many "hole" to share with you; macro is George Soros of quantum Fund, extremely intelligent, he sees the world is 1+1=2; he particularly optimistic, when we have a sense of uncertainty is particularly good at giving people confidence in Zhang Suyang and look at the details very sharp ... ... Working with this partner team, every shock.
Investors alone, more alone
Hangzhou Office, IDG has finally officially launched in May 2015, I realized "rooted in Hangzhou Merchant" this ideal, which is the top VCs bodies set up its first Office in Hangzhou.
To build Hangzhou Office, from the intuitive, I think the city's business climate ranked second, second only to Beijing. Both sizes, and financing. The Department and the Department of Zhejiang University in Hangzhou, the resources are very important to us.
And the provision of Office process summary, I find, understand and do it are two different things entirely, and in the process of preparation for the IDG offices in Hangzhou, from scratch, in a very short period of time we work together, work location, decoration, or only a very low budget, very difficult and very grateful. I felt for the first time that year Hugo Shong, comprehensive pioneering venture into China is not easy.
With this kind of experience, entrepreneurs are better able to understand--when I saw a man holding the idea ran to when it comes to financing, I began to see his inner loneliness and struggle. Entrepreneurs are very lonely, suffering, pain, a team is like walking in the dark forest, walked in front of the front but in fact is not sure, the founder of the direction is correct, but as a Leader, he has to go back with the team said, "dude, we are sure to succeed. "
Therefore say that entrepreneurship is really is not easy, such as riding, impulses, if such a case if you can show good nature, it really is gold, and admirable.
And investors too is alone, investors will want to throw a great project. Often, a great project in early when making investment decisions is Kinky, because there is no reference in the market, you don't know what this user would like you cannot even describe what he's doing, like the carriage era say a car is what, because the word age will not have a car.
I am beginning to understand why Facebook valued at 700 million that wheel, invested in process stores, even turning tables. Because policymakers have only two factions, a no vote, who bets, no middle, and both sides have said is right. Because the results of such a project is either great or even the residue is left, which results in much larger probability, one glance is all risk.
I now also beginning to be felt, who voted for the great company's early investors, investment process, are under enormous pressure to accompany entrepreneurs coming, and along the way is accompanied by a variety of questions, doubt, ridicule, being called dumb, even also appears to have self doubt. This feeling of suffering in the process there has been a few years or even more than 10 years.
What sustains them is stick it in the process? I can say I know, but at least so some must exist:
1, they do not know what projects can become, can be remade. If there is a successful investor telling you he had already thought of a few of the cast, which is basically deceptive in hindsight, because at that time entrepreneurs don't know how much in the future, how will investors know?
2, they will believe, this project will be somethingbig, and believe like faith is so strong, in order to believe, brothers willing to look of the entrepreneur, to accept and take the consequences, failure, no regrets.
3, in their suffering and increasingly lonely will grow quickly, thinking more and more depth.
See impetuous society everywhere are selling dreams, selling sentiment, few people really well prepared to face, meet, or even enjoy the suffering and loneliness, to find a heart that truly believe.
Sometimes I would drink wine and accompanied one sentiment made by the venture brothers, sometimes I think it may really be "two". But I think this is also a pressure relief channel for entrepreneurs, because many entrepreneurs can't team back home a lot of words and I can't share with family, when they need it most, I was able to talk with him, in fact, is the best partnership, the best communication.
If you asked I also insisted did? I wants to I also is will answered: even in road fell has, also than not in road of feel good too more, because such not because had gave up has heart of that copies believe and was regret! and, lucky of is, this article road, I is and I look has of colleagues, I look has entrepreneurs brothers in with!
Is the author of the Chinese entrepreneurs, before Bloomberg BusinessWeek Technology Editor
Note: this article was reprinted from other media, and aims to deliver more information does not mean that AVIC I love guest shares his views and is responsible for its authenticity. Lu Jin love money loans for all P2P networks and
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