Liu Erhai, an early investor in Mobai: when you are strong enough

Hunting cloud note: This is a speech delivered by Liu Erhai, the founder and executive partner of the early days of the early days of the early days of the early days of the capital. In his speech, Liu Erhai said that the development of entrepreneurship in China has reached a new stage, and has been upgraded to all aspects of product and team competition. With the rapid growth of enterprises and the strong admission of giants, all these require entrepreneurs to judge and create the unique value of their own businesses. Article source: ID:innoangel99, author: Bian Xiao Cao
What is “ the devil channel ”?
The theme I share today is "crossing the devil passage", looking at many companies now, including the shared bike that has just been mentioned. There was a time when people said that there was too much to share a single car and the color was not used enough, but in almost a year, there were only about three colors.
From the previous group shopping, special car, catering O2O, video portal to the later shared bike, video live, used car market, we found a common, almost every big industry has to go through a baptism.
There are 3 phenomena in the formation of this commonality: 1, the rapid escalation of competition; 2, the rapid growth of enterprises; 3, the entry of giants.
First, the competition is rapidly upgrading. Once I met one of the investors in Sanlitun, who said that the shared bike you invested in it blocked our way. Do you have no sense of guilt as an investor? I say I'm sorry, but competition is so fast and fierce.
Two, enterprises are growing fast. From no car to 800 or 9 million cars, only a year's time, including the outbreak of jitter in short time, has also affected the circle of friends of Tencent.
Why can enterprises grow so fast? An important reason is that it is very easy to find users online, so these enterprises can quickly succeed. In addition, investors' capital holdings have also accelerated the growth of enterprises.
A foreign investor once asked me: &ldquo, how do you give money to the enterprise desperately? ” an investment that looks crazy, we really know what we're doing, that's the rules of the current battlefield, and we don't have a way to get a lot of capital into the business. You have to follow it as a player.
Three. The game of the giants. Almost all industries can see the figure of the giant, which brings different challenges to our friends here: do we want to stand in line? What do you do without a team tycoon? Start-ups are in fear and anxiety.
From what we see, if the enterprise wants to succeed, it must go through the devil channel, and have to go through the process of rapid competition, the rapid growth of the enterprise and the game of the big entrance.
“ others ” how do they cross the devil's passage?
How do you cross the devil passage? We still have to go back to the nature of business and the business model. Take two examples, we can see how these enterprises really cross or are crossing the devil channel.
The first example: azure car. The main purpose of Wei Lai automobile is to surpass competitors in terms of technical engineering ability, and the most important is their engineering capability.
In October 12, 2016, in the North Ring Road of newburgrin in Germany, azure car EP9 created the fastest electric vehicle speed record in 7 minutes and 05 seconds; in February 23, 2017, in the United States Texas American race track unmanned test, EP9 created a speed record of 257 kilometers per hour, becoming the fastest driverless car in the world. Car; in May 12th of the same year, EP9 refreshed the record with 6 minutes, 45 seconds and 900 seconds; in December 16th, Wei Lai car officially released the first production vehicle ES8.
Second examples: the Jingdong. Jingdong doesn't have much technology. Everyone here's technology may do better than him. In that year, compared with the earlier Dangdang, excellence and Amazon, what did Jingdong rely on to surpass competitors?
In fact, the key is that Jingdong has done the logistics of large items, and there is not much technology, but it has made up the immature part of the value chain. Infrastructure can also create value and help enterprises cross the devil's channel.
The secrets of Wei Lai car and Jingdong crossing the devil's channel are engineering technology and infrastructure.
Joyful capital has invested a lot. We have a “ a resource oriented investment ” an investment strategy. The so-called base area is to say that the region is wide, and we can invest more in this field. In this field, we have put out a number of two projects; finally, we have deep accumulation and profound understanding in this field.