360 Open letter: Don't let monopolies kill young entrepreneurs

November 26 Morning News, in response to today's 360 v. Tencent Monopoly case trial, 360 companies issued a title entitled "Do not let the monopoly of the Chinese dream of killing young entrepreneurs!" , said the internet giant through imitation, plagiarism means to invade the survival of entrepreneurs, the giant monopoly has made the Chinese Internet industry desertification, and called on the monopoly to kill young entrepreneurs.

The following is the full text of the letter:

"What would you do if Tencent made the same product?" "This is a question that Chinese internet start-ups will almost always be asked by investors when they introduce investment," he said. In fact, "life, Death, Tencent" has already become the Chinese Internet young entrepreneur three must face daily problems, some entrepreneurs will answer: "This area Tencent will not pay attention to." "What if Tencent is concerned?" ”......

This is the cruel reality! Internet giants are getting more and more of the barriers for young people to start their businesses, because the internet giants can invade the survival zone of entrepreneurs without any kind of imitation, plagiarism or cross-subsidization, even as they grow up, the giant's squeeze is everywhere. Who still remember the IMO, the joint public, happy to steal vegetables, such as a large number of once in the start-up very successful enterprise? In the United States, angel investment is usually to invest 50,000 of dollars per project, can prop up a large number of seed start-ups, and China this stage angel investment, at least 500,000 U.S. dollars, is 10 times times the United States, entrepreneurs have the possibility of survival, and the failure rate remains high.

You may not know that China's Internet is ostensibly an innovative and dynamic industry, in fact, the internet giant monopoly of the market is far beyond the financial, telecommunications, oil, electricity, such as the old monopoly industry. Tencent's market capitalisation has surpassed the total market value of more than 40 Chinese Internet listed companies, and Tencent's business is covered by communications, Q-coins, entertainment games, social networks, news and information, television transmission, E-commerce and other internet business. The 18 session of the Plenary "decision" put forward "building unified and open, competitive and orderly market system", the traditional economy in the field of the old monopoly enterprises are facing a new round of the challenge of split, but the internet giants through large-scale mergers and acquisitions in the further increase the degree of monopoly, and monopoly tentacles in other sectors of the rapid proliferation and infiltration, Including media, finance, film and television, communication and so on, omnipotent monopoly oligopoly, this phenomenon has never happened in the traditional industry.

One will work millions bone withered, the monopoly of the giant has made China's internet industry desertification. China's internet giants, though already ranked among the top three in the world, have a far lower overall output and global status than the US. According to third party data, 2006 years later, in the 8-year period, the Chinese Internet did not create a new influential website or company, while the United States was the birth of a large number of innovative companies such as Facebook, the Chinese internet market from the synchronized prosperity of the United States into desertification. If Tencent wins, the young entrepreneurs of China will lose, Mr Ma said.

The monopoly has broken the market balance, destroyed the market fairness, in the giant monopoly market, the consumer interest is damaged, the innovation stagnation, therefore all countries are very vigilant to the enterprise through abuses the dominant position to the market repression behavior, the antimonopoly is also the national Government's core duty. In the United States, antitrust law is known as the "Grand Charter of Free Enterprise", which is called "the economic Constitution" in Germany, which is considered "the core of economic law" in Japan, and the most important core law in EU anti-monopoly law.

Antitrust investigation and the principle of sanctions, that is, to maintain market order and innovation. More than 10 years ago, Google was able to rise rapidly after Microsoft faced a break-up of antitrust investigations, and as many as 37 antitrust and specialized investigations came into existence after Google became the new internet hegemon. It is also the benefit of these antitrust investigations that the Internet industry in the United States has continued to innovate and thrive, with more emerging internet technology companies such as Facebook, Youtube, Twitter and Groupon standing out.

360 v. Tencent Monopoly case, is the "anti-monopoly Law" issued six years ago, the Supreme Court of public trial of the Internet antitrust first case. This means that the antitrust law will no longer be a caged sleeping lion, but a sword hanging over the internet giant. Only for the Internet giants in the acquisition, cooperation, the conduct of the antitrust investigation into the normal, the giant companies to abuse the market dominance of the competition means to curb the practice of a fair competition in the market environment can be formed, innovation and vitality can be constantly emerging, young entrepreneurs of the Chinese dream can be achieved.

We believe that the fight against the monopoly of the specimen, the final winner is not 360, not Tencent, but will be the whole of China's young people, entrepreneurs!