Cybernaut Zhu: Silicon Valley entrepreneurs never have a place for gold.

From the educated youth to stay in the United States doctor, from communications technology experts to Silicon Valley continuous entrepreneurs, Zhu experience is a legend. Now, at the age of 63, he is still as fast and quick-witted as a young man.　　When he returned to China, he stood on the new starting line as an angel investor. Zhu, a Silicon Valley entrepreneur who was born in 1948, graduated from high school in the suburbs of Ningbo for seven years, "all the pain has been exhausted." 1977, he entered the Zhejiang Agricultural University tractor Design and manufacturing professional, after graduation was assigned to Ningbo Refrigerator Factory work, a year later into the Zhejiang University of Industrial management graduate student, after graduating from graduate school to Stanford University doctoral students, he was 36 years old. "I never thought that I could go to America to read a PhD in my life and rush to America with the smell of a peasant." "When I first went to Stanford to study engineering economics, Zhu almost knew nothing about computers," he said. An accidental opportunity, Zhu to join the IBM Computer Research, he completed the task while learning, and therefore entered the IT field. In 1991, he began to create his first it enterprise, future Labs, a "Conference demo communication System" based on an Internet network. Zhu later recalled: "I did not understand that the software needs the Internet to support, I was walking in front of the Internet."　　"In 1996, with the rise of internet companies, Zhu sold the company at a price of 13 million dollars." In the same year, Zhu found a partner in India to set up a second enterprise--webex (Network News) company. The business is to provide Internet online conferencing services, in the Global Business Network video conferencing market share of more than 60%, is the Chinese students in the United States to create and successfully listed the first enterprise. 1998, the first round of Internet access to financing, a year after the market capitalisation doubled three times times, in 2000 on the Nasdaq listing, the share price reached 38 U.S. dollars.　　When Cisco was acquired in 2007, its share price had been as high as $56, and the purchase price of 3.2 billion dollars had also set a record for Chinese-founded companies to be bought in the US. After the successful start, Zhu began to dabble in the investment field. 2004, he was the largest early venture capitalist in the United States NEA Company in China's only investment partners, to help NEA successfully invested in SMIC, the exhibition technology, red children, such as a number of projects.　　2005, Zhu and Nea co-founded the Cybernaut China Investment Fund, the investment field mainly locates in the modern service industry based on the internet and it technology, the key supports the fast growth period enterprise. Investing in good people the experience of Silicon Valley entrepreneurship has given him a tenderness entrepreneurial spirit, as well as a "sense of" a new entrepreneur with entrepreneurial spirit. Sometimes, judging by his experience, a project has a poor outlook, but he has repeatedly invested in his own identity and, in his words, it is "no way". Zhu has said that most angel investments do not represent a real investment direction. It turns out that some "wrong" investment projects often help entrepreneurs toProjects to make money. There was a newly graduated entrepreneur who found Zhu about his business plan, in Zhu's view, the plan was "very naïve", but it did not prevent him from thinking that the entrepreneur was excellent: "An engineer who worked more than 10 hours a day to do two completely amorites products, though violating many of the simplest rules, But it is still able to do business. He said to the man, "when you are a second business, I will invest."　　The man smiled and went away. After a while, the entrepreneur has a new idea, Zhu still not optimistic: (he wants to do) a very common hardware products, is added a concept of backup, entrepreneurship to do such things very tired. But because of the entrepreneur's insistence, Zhu voted 100,000.　　"Donate like a donation." After the investment, the entrepreneur every six months to report to the Zhu, to the end of the money used up, not to run, and then find Zhu hope to increase investment.　　Zhu's solution is to pull his family into a joint venture, "It's more useful for the family to spank his butt than I can spank him."　　[Page] Zhu said to him, what you are going to do is a great thing, (can realize) everybody mutual communication, is an Internet or mobile internet SNS.　　This idea has become a reality today, the entrepreneur to the microblogging and SNS linked together, currently in China has more than 20 million of internet users, received more than 50 million of the investment, Zhu also as a small shareholder support his entrepreneurial to today. The gold rush in the VC industry is a story that is willing to invest in start-up Enterprises only 4f:founder (founder), accessibility (family), Friends (Friends), Fool (fool). This one of the Fool is to angel investors jokingly, industry people know that the so-called fool is actually super intelligent person, can use the eyes from the sifted gold.　　Zhu the project does not rigidly adhere to the rules and regulations, he had invested in a company in Hangzhou, just started "do not know what to do", just because like, the enterprise later became the most powerful Chinese laser industry listed companies, Zhu also lucrative. "I see great business success starts from a very simple place," he said. Speaking of this view, Zhu likes to tell the story of Cisco: "Cisco's origins are two Stanford students, one is the Institute of Technology, one is business school, two people in love, in order to send text messages or emails to each other, IBM impassability, the man to find a way to do a box in the middle, Send the mail to the girlfriend as soon as possible, the box, then become the IBM chip. VCs find that this thing is used by every business, and the result is a Cisco company. The founder of Sequoia Capital, a strategic director of Cisco, has invested a large number of such companies outside Cisco to help Cisco launch a successful IPO, making Cisco a trillion-dollar company for about 10 years. "For EntrepreneurshipUnderstanding, Zhu that one is to have great ideals, the second is to share the culture. "The Communist Party is the greatest entrepreneur, and although no one sees what communism will be like in the future, this great Communist ideal attracts a lot of good people."　　"Zhu firmly believe that China will be the soil for the birth of a great enterprise," the excellent entrepreneur appears very frequently. Zhu as an angel investment is not just a financial investor, his definition of his identity with the start-up enterprise phase change.　　He sees the new business as a fresh athlete, to coach the sense of responsibility to train excellent athletes, when the "athletes" mature, they will be as sparring, and "athletes" grow together, with "athletes" on the stage, and then become a cheerleader, everywhere publicity, and finally the successful launch of the enterprise market.　　At present, Zhu founder of the Cybernaut has been in China direct investment and related investment dozens of enterprises and entrepreneurs, including China Green Line, Chint Solar energy, exhibition communication and so on.　　[Page] Dialogue entrepreneurial team running-in at least three years to win weekly: What are your criteria for starting a business? How to cultivate standard enterprises? Zhu: We have a lot of early investments. To cite an example, we invest in the communication of the exhibition, early found them, believe that they can do a very successful chip, in China can achieve a dream.　　Three years after they went public, the stock price turned into 15 yuan, and we did well in it. Another case is concentrating technology (300203, stock bar), when they took a piece of paper to my home, because I was their fellow, they finally found me. Two people about 30 years old, I hope we support them to start a business, I listened to their ideas, said maybe you can, gave them 500,000 dollars.　　On the gem last month, 500,000 dollars turned into a a billion of return. Chint Solar is also the same, the professor is a classmate of mine, we start from zero investment, support the start-up company, after 3-4 years of development, now do have 300 million-400 million. The company is China's large-scale core imports of equipment, coupled with thin-film solar equipment. We now have a very innovative approach is to let Chint solar energy is about 1/3, now the fund to participate in 1/3, Team 1/3, so that the enterprise has a strong high-tech support, but also a very strong entrepreneurial team.　　This year's sales may be 500 million, we would like to see 100%-200% growth every year, hope that 2-3 years of cultivation into a pioneering board of advanced equipment manufacturing companies out.　　Win Weekly: You think the enterprise from the start-up to success, what quality is the most important? Zhu: The primary accumulation of the enterprise itself is the growth and accumulation of the entrepreneurial team.　　Because a pioneering team, especially the founder of the inside to become chairman, general Manager, and then lead an excellent team, this process of running-in, we feel is very long, has nearly 3-5 years process of the running-in process. The growth of the team needs two kinds of running-in, one is the market running-in: What exactly does the market need?, we should provide what kind of products to serve this market, this running-in takes 3-5 years, the second is the team running-in: for the product, we need to have what kind of team, this team how can seamless docking best to provide products and markets, need 3-5 years time, this time is indispensable. In fact, the enterprise is established to a certain time, a good investment company can bring many of these values, including entrepreneurial and operational experience, domestic and foreign resources, industry-leading technology and how to do capital operation, there are many factors, cultural infiltration and great dreams make these entrepreneurs have more entrepreneurial spirit,　　The establishment of enterprise sharing culture, finally enable enterprises to succeed.　　Win Weekly: What areas of investment will you focus on? Zhu: Cybernaut's core investment area revolves around the country's entire emerging industry. Emerging industries, we focus on the three energy-related industries as the biggest focus, including investment in chint Solar energy, ideal energy and so on. We have also invested a lot in supporting the development of new industries in the financial, education, including science and technology parks, and so on, complete the link into an industrial chain.