Kai-fu Lee: Innovation Workshop has invested 7 mobile internet projects

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Webmaster Network May 29 News, 2010 China Internet Webmaster Meeting today in Beijing. The annual meeting will be "self-improvement to change the practice of green growth" as the core theme, mainly in the new era background, the vast number of small and medium-sized webmaster, Internet entrepreneurs should be correct to face the topic of survival and development, ADMIN5 Webmaster Network will be broadcast live this annual meeting.

Innovation Factory has invested 9 projects, 7 of which are mobile internet projects, said the founder and CEO of Innovative workshop, Lee. Lee believes that mobile internet will trigger a third wave of entrepreneurship.

Lee believes that China Mobile internet users are now more than 200 million, and is still growing. In addition, the 3G network has been built at the same time the tariff is declining. All of these have a positive impact on the development of mobile Internet.

Innovation Workshop founder Kai-Fu Lee

The following is the full text of Lee's speech:

Since come to this Congress, I should talk about my future development, but also is advantageous to stationmaster, today my speech is not to say what product, also not to talk about our innovation factory too many details, more want to do some exploration and analysis to the industry. All of us here are China's webmaster, Chinese entrepreneur, Chinese entrepreneurs, I am also engaged in an industry with you, if we look back at some of the great entrepreneurs, what kind of people are they? What are the qualities of the most amazing technology entrepreneurs, such as Bill Gates? I always thought they had business or glamour, or technical talent, until I read a book called a freak, has anyone seen it? He told us the answer, a person can not set up a great business, the most important is the year of birth? I read this to know why I have no way to create a Microsoft out, Because he said must be born in the 1950 's, preferably 1955 years or so, but also in a relatively rich American family was born, so as to go to a better high school, high school will have the first generation of programmable computers, and you love the computer after the opportunity to develop. In fact, it is untimely, this is the main reason for unsuccessful entrepreneurship in the past.

Looking back at China, you find it interesting that the first wave of China's great internet entrepreneur, Charles Zhang, was probably an age, and they decided to do it at that time, and then they made it. Many of you here, I am also untimely, I like to open the same is born wrong time, so similar opportunity I also younger than Zhang Charles how many years old, missed the opportunity. The second wave we found, Baidu, Tencent, Shanda, such as the rise of the company, but also have a great value, they are talking about the two-year-old young, many people think again missed opportunity, then how to do? You are not in the wrong time, and you were born just to catch up with China's third wave of the Internet catalyst to happen. What will make the third generation of the internet thrive? I think there are many reasons, but the main two reasons are mobile internet and e-commerce. Today, the main webmaster assembly, so I want to put all the energy to speak mobile internet.

Today, the innovation Workshop has invested nine projects, seven of which are mobile internet, which confirms that I am not talking about a concept here, but that we are putting our money on such a wager, so we are particularly optimistic about the mobile internet. Whether you want to change, start a business, want two times to start a business or have a business want to do bigger and better, must pay attention to mobile Internet.

For the next 20 minutes, I would like to talk about the opportunities that I and the innovation Factory bring to China in the mobile Internet. This opportunity is more unique, and with the development of foreign countries in the past, China's development is not the same. When it comes to mobile internet, everyone will say that 230 million users, will say that the 3G rapid deployment, will say from a single to three operators competition brought about by more cost reduction, more users choice, more business opportunities, so all optimistic. But when it comes to investors, and I believe that, it does not mean that we should be desperate to do mobile internet projects, because the mobile Internet is great. The data is also about the potential 800 million mobile users in China, as well as the people around you who communicate with each other, either on Twitter or in other ways. , and the previous several webmaster meetings have a lot of differences. You can already see in the so-called pioneers around you that we are already in love with the mobile internet, and the next step will spread to more people. So the mobile internet age decision is coming, its explosive power is absolutely huge.

But not everything is so simple, because if you look at the trend of foreign countries, after all, the use of foreign users and China will be very different, but the foreign big situation is basically still right. Whether looking at Apple or Google, we can clearly see that they are growing abroad is a new ecological chain, is the device plus bandwidth application, is a very rich super smart phone plus 3G of bandwidth, plus many applications, Apple has a hundred thousand of applications, Google also has a hundred thousand of apps, and these three are growing as much as PC growth in the past. This development, no doubt fast or not will tell us how China will go. Let's look at these three. If we look at smartphones, are we optimistic? In fact, according to today's price, we are not optimistic, because in fact you go to the United States to buy an iphone as long as 200 dollars, you may be surprised, how so cheap, why is the Chinese 1/4 price? In fact, the United States operators he spent money, reduce the cost of mobile phones, and then the monthly fee increases each month, in fact, the cost is the same. But this has a wonderful effect, is that users in the United States they feel the iphone is so cheap, I also come to one, we all come to one, the amount of up, once up, business opportunities are the biggest. This has not happened in China, we are very worried.

How many 3G? Chinese webmaster, this is the highest end of the technology users probably only 5% used 3G, why? It's too expensive, isn't it? We can not blame operators, if the operator to the huge price down, each of us are 3G, bandwidth on the explosion, that is not good, 3G too expensive. Today unimpressed is the price that the United States is close to the United States, but the Chinese income is a small part of the United States, which represents a big problem. What about the vigorous ecological chain? Equipment is too expensive, 3G too expensive, the use of today's users are not many, and the use of the United States is not necessarily line, the United States like to use email, but the Chinese young users want to use more entertainment, which is facing a huge challenge. In the end I am optimistic or pessimistic?

We are now slowly studying how expensive mobile phones can be bought by Chinese users. We see 83% China Mobile internet users are under 30 years old, is young, young also represents not the highest income, they will only buy a cottage it? We have seen Chinese users young mobile internet can afford one thousand or two thousand dollars of mobile phones, is willing to spend one thousand or two thousand yuan to buy a mobile internet phone, so the question is how today's iphone from six thousand or seven thousand to one thousand or two thousand block. What is the young user like in China? China and the United States have a huge difference, high-end users are relatively small, the majority of young ordinary users, any mobile Internet must focus on young users, what to focus on? It is interesting that those who are willing to spend one thousand or two thousand dollars are mostly students, age people, white-collar workers, They are willing to spend 1500 to 2000 dollars. It may take a while to buy 500 dollars. If we study about 1500 of the young people who buy mobile phones, do they use the Internet? We see, college students, white-collar majority, so the answer is very clear, they use the Internet. So for foreign analysts, in the open countries, the biggest opportunity for mobile internet is for those who can surf the internet, which is not tenable in China for the next two years. Perhaps two years later will be established, perhaps in India, South America and so on is set up, as China is not tenable. When we do these products, we have to assume that the user is aware of the Internet. For webmasters, Chinese entrepreneurs, this is a huge opportunity, because you know the Chinese Internet users, we are faced with the opportunity is how to target these young internet users to let them also on the mobile internet?

When will there be a 1500-dollar super smartphone? This we are going to look back 20 years ago here may be only 5 years old, but you listen to me I will not lie to you, 20 years ago, a big thing happened, Apple Computer is everyone's favorite computer, but a very serious thing happened, is a horizontal integration, what happened? Is that Intel is focused on making chips cheaper, IBM has set a standard to make the PC more and more standard, Windows becomes a standard, the software is cheaper, these three things become virtuous cycle, let the machine price quickly reduce, When one day there was a computer almost as good as apple and it was cheap, Apple's share dropped to 15%. Today we found a very interesting phenomenon, today's iphoen is also 5,000 yuan, but those chip makers are also doing horizontal integration, many companies are also starting to do horizontal integration, especially the standard machines, such as Taiwan's HTC and so on companies. There are also a lot of software companies that can do software integration. We're here and I'll predict the same thing will happen when these three groups of people to optimize their good things, and the formation of a good three-win industrial chain, the intelligent mobile phone will be from 5,000 to 1000, this thing will not only happen, and will happen within a year, so now do mobile internet is the time.

If you still do not believe, to think of our China has the power of Shanzhai, these shanzhai manufacturers can make mobile phones into a lighter, a high function of the camera, they omnipotent, do not worry, the genuine manufacturers up to less than 1000, shanzhai manufacturers can reach.

Now suppose that 1000 dollars a year after the mobile phone will come out, in the end what kind of software is worth doing? In fact, all of us here have been through the growth of China's Internet, and we have seen the growth of our Internet from basic tools to entertainment and social networking, and the final stage is advanced applications or commercial applications, So mobile internet will certainly go the same process. Today we are using the majority of the basic mobile Internet, we will predict here, in the next year or two years, we will see a lot of entertainment, social. QQ today in the mobile use of the same as the PC, although the user group is not a group of PCs, the other will happen, whether it is everyone, happy, whether it is any music or different games, videos, so many iphone so big screen do? Be sure to watch the video or you'll spoil it. We put a big piece of stuff in our pockets, we have to use the whole screen for the cost, this is the inevitable trend, the Chinese people like games, like video, like social, so the future of smartphones will be in this direction.

Next I will make six predictions, the first, WAP era has passed, we come together to meet the era of mobile internet. Second, Atts (sound), mobile phone prices will drop to 1500 this year, next year may drop to 750 yuan, not claiming to be atts (sound), in fact, is not atts (voice) of the mobile phone, is fully functional, to achieve such a price, this is the future platform, this is the direction of software development. Third, 3G costs are not reduced in the short term, we can not expect operators to come down, if you and I are operators will not reduce prices, so we have to optimize the use of the environment, must be a rich equipment, but is a bandwidth-saving environment, do not believe that the huge video applications, which users will not pay, unless there is a monthly, Of course that is relatively rare, and once everyone has a monthly, flow up, this monthly will slowly disappear. Four, entertainment and social networking will become a mainstream application in China, so foreign companies will again be defeated by local companies, because the optimization of foreign companies in the use of Americans, they do not understand China, Chinese entertainment and social is not an American company can understand. Five, I like the App store very much, they start to set a charge, I predict to fail. It's a huge historical opportunity for mobile developers, and I hope you can consider what kind of personalized apps you can do, which is a trend and we should all hold on to it. In the long term to do the site, mobile site, I also very optimistic, but it may be another two years, first your website into ups (sound), which I give you some suggestions.

Let's talk about innovation workshops, in fact, we also introduced many times, we are more investment institutions, we see China today is relatively lack of angel investment, but also see the great difficulties entrepreneurs face, raise money difficulties, because you start the first batch of funds may be hundreds of thousands of or 1 million or 2 million, many VC have no time to talk to you, But you really shouldn't raise more money and it's hard to recruit, especially for a particularly powerful engineer. Also, take the angel money not only for money, but also for the help of Angels, these in China has a lot of problems. There are many challenges in entrepreneurship, finance, law and so on, so what to do? Innovation Workshop is created for this, in Google for several years I have a lot of legal, financial, tax and have a good understanding. What we do is an early investor who can help you understand the market, help you recruit a good team, give you the initial funding, and be an early investor. I do come here to tell you that if you are looking for an investor, you are welcome to join us, or you will be willing to take part in the project.

Until today, the innovation Workshop was established for about eight months, talk to almost 500 start-up teams and now invest in nine projects with details that are not suitable for sharing, but you can see that seven projects are related to mobility, which adds up to more than nine, because some projects may be moving across different areas, E-commerce and so on. We have two companies are specifically targeted at developers and webmaster do, they do the tool is the future you need, but today we are not a product announced the timing, can only tell you just now we saw the webmaster need to develop tools, the need for advertising resources, These are the companies that we want to have some investment to offer you, and you don't have to wait too long to see them coming in the next few months and you want your support and use.

Today's meeting is really significant, we can see whether the first or second generation of the Internet, without the hard work of these pioneers, they risked the efforts of their young entrepreneurs at that time, in fact, the Chinese Internet will not have today's development. I was very fortunate to invest in these two places at Google, and I am very optimistic about their development. I believe we can work together to see China's Internet development to the next stage, I deeply believe that the third wave of the internet will be even more remarkable, I very much hope to cooperate with everyone here, here can see our project investment manager's email, QQ group number, we are also doing a webmaster communication channels, If you are interested in talking about this channel of communication to be our future Communication Manager, you are also welcome to send your resume directly, and other resumes are welcome.

Finally told everyone I am very happy to join the ranks of you, I hope to work with you to create together to witness the great China's third wave of mobile internet arrival, thank you.