What happened to venture capital?

August 23 17 o'clock, Tencent Science and technology and it time weekly editor-in-chief Cao Jian, senior Internet critic Luebbe, CCW information general manager Qu Xiaodong, China Entertainment Network CEO Gao Burning, vice president of the Ranking, Tenkine editor-in-chief Lejiana, China Brand Network CEO Chen and other famous experts, entrepreneurs together, Launched the first of the first hundred schools of the line activities.

Moderator: Dear friends, Good afternoon! Good afternoon, ladies and gentlemen, I am very glad to welcome you all. It should be said that today is not only because everyone has been the support of Tencent network, many of us here are very respected teachers, like high burning is also a good friend, today really happy. Let me give you a brief introduction, the first is the famous Internet analyst Mr. Lubberg, the second is also very famous editor-in-chief, Tenkine editor-in-chief Lejiana margin, brand management expert Mr. Chen, sitting next to me this is the CEO of the high burning, now the CEO of the Entertainment network. My left hand should be the most personality of the media editor-in-chief, it Time magazine Mr. Cao Jian, this is both an information manager and an expert, should be said to be one of my favorite interview Mr. Qu Xiaodong. Sitting next to him is Eric Ranking, vice president of information, very glad to welcome you all!

Today invite you to have a few ideas, at the beginning thank you all have been to Tencent network support, we received this task we want to invite everyone, as we talk about the industry hot topic, and then think we can turn the hot topic into a series, We invite you to make regular comments on key issues and hot topics, which we later formed. There will be some more news people today, our topic today is the investment in the industry and the internet industry, for example, we know that there are many venture capital meetings in the near future, including the recent almost all advertising companies in the industry have made an offer, the top 20 companies basically only 2 did not buy , shareware also bought the same, by several major internet sites divided almost, this is we know more public news, so today we talk about these topics about venture capital, talk about the recent trend.

We may have a few more popular characters, first of all, I know the news is that the recent Chinese entertainment network will have a number of new investment in, we will talk about this first.

High burning: Investment is a constant change, and if you say that it was a mess before it was settled, the money would be gone. But I can tell you that before October, we'll get a big investment in the entertainment world, in the vertical web, and I'll announce it if there's any news. Now I am not too convenient to say too much.

Moderator: Another news person is sitting next to Mr. Ranking, the latest message points into Eric, is already being integrated.

Ranking: Some people say it seems to be the truth, in fact, Eric and the audience is not much, at present there is no too much contact with this matter. The audience went into the office and we had a positive response to the problem, so I hope you can continue to look at Eric and support Eric.

Moderator: Next question I would like to ask Mr. Lubberg, I should say some recent investment circles, we have some interviews recently, they talked about the recent topic is on the industry website, VCs are very interested in vertical industry websites. We also see the former CEO of Hui Cong said that the industry site does not have too many prospects, I do not know how Mr. Lubberg to see this problem?

Luebbe: My time for business-to-business intervention is not long enough, but for industry websites, business-to-business sites are not as pessimistic as the Guofanseng of HC. I saw the industry site to be big after also not easy, the industry site more like our community canteen, it is suitable for the survival of the little, open a pop should be no problem, but to make a supermarket, only to do a community is not enough to feed a supermarket.

Moderator: Not live a supermarket, but I do not know how to feed a large company do not know how, I would like to ask Mr. Cao, you and multinational companies have been exposed to countless, China's internet has just been born, how many will become like HP, Lenovo, Microsoft, such as successful multinational companies?

Cao Jian: I just had dinner with the VP of Nokia This noon and I was talking about something. I think it is unlikely that Chinese companies will be able to achieve a position like HP, Interlaken or Microsoft. On the one hand, we can not create profits, the 2nd I think it may still be cultural factors, because China's culture is a "wall" culture, and the West is not a "fence" culture, so I think Chinese companies in the next five years to achieve such as Google and Microsoft enterprises are basically impossible. But China has a huge advantage, he can replicate, for example, what new company in Silicon Valley, the new model, he immediately copied over to do the Chinese market, I think the Chinese people understand the Chinese culture is very much in place. We do not now learn IBM, HP, Google, such as companies, we put their inventions and innovation model back, for example, like Baidu, he introduced Google's model to the Chinese region, become the boss of Chinese search engine, he also succeeded, the stock in the Nasdaq is also high, Now break 200 dollars. We do not understand the multinational companies first, I think in the short term is unlikely. But the future says ten years, like Lenovo has now gone through a comprehensive period, slowly Lenovo in the next five years will be like Hewlett-Packard, Microsoft, such as companies, I think it may gradually internationalization, because his talent has been internationalized, including his CEO, including his supply chain Vice President, marketing vice President, On the one hand is the global concept of culture, on the other hand is the global layout of industrial distribution.

High burning: I still have a word, just Mr. Lubberg said that perhaps the industry site is a commissary, I do not agree with your view.

Luebbe: I think it is a supermarket, but it is not easy to make a carrefour like this.

High burning: Of course now everyone is saying that Alibaba, are talking about China's chemical network, I also talked with Sun Zhengliang two days ago, I think this opportunity is still quite a lot, including us so many car sites, including our travel site, there are some real estate sites, I think in some big industry must have the opportunity. Including we said that the most fire two e-commerce companies, one is red children, red children and I was together financing, including PPG, I and PPG people are very familiar with. You said that red children specialize in a particular product, you say PPG specializes in men's shirts, in fact, this is already a very small crowd of things. But I believe the two companies will be able to go public in the first half of next year, and will be able to achieve great success. And I also imagine that the car site can have such a chance, so if you say vertical, it depends on how deep you vertical, and then see your own vertical area is not big, I think this opportunity is still quite a lot.

Luebbe: Thank you, but my concept, I listen to the host to ask me my understanding, vertical site is the business-to-business website, because he just mentioned HC net Guofan health. But I listened to Mr. Gao-Burns mentioned that the vertical net seems to be in addition to the portal site all other vertical nets, I think this concept is too general, vertical we can say is it vertical portal, which refers to Sina, Sohu, netease outside of these companies it class vertical portal, like you mentioned a few sites, tourism Ctrip, car network, The recruitment net goes to the vertical net. I don't think it's appropriate.