LOS Angeles Entrepreneurial Circle: 2 years 250 million U.S. dollars and Silicon Valley a decision

I'd like to talk about the business Circle in Los Angeles. A young man who was invited by TED to introduce his new company, Togo.com, in 1998, described with confidence that the search service our company offers is a customer bid to render the search results. As long as the information is searched by the person clicked, you can click the number of clicks to the customer to collect money. His voice did not fall, and the audience burst into laughter as no one thought the business model would work. Later, the company changed its name to Overture and was bought by Yahoo in 2003 with 1.6 billion dollars. And this young man is called Bill Gross. He founded America's oldest incubator, Idealab, and hatched more than 100 companies, more than 30 of which were merged and listed. The business model, ridiculed by viewers at the time, saved another great company in 2002, Google. When many people talk about the entrepreneurial environment in the United States, almost always refers to Silicon Valley. This is particularly true of the domestic technological circles. But in fact, the entrepreneurial ecosystem in Los Angeles has been bred to be an excellent enterprise and is growing at its own pace. In recent years, the Los Angeles Business Circle has been able to compete with the Silicon Valley in a confident manner. Two years ago, the Los Angeles venture ecosystem was named the world's third-largest biosphere after Silicon Valley and Tel Aviv. Los Angeles Unicorn According to the Angelist2014 growth ratio in the first half of the year, the South Plus region (Los Angeles, Irvine, Santiago) ranked first in 5.3%, or even more than 4% of Silicon Valley. The CB Insight data show that since 2012, more than 250 start-up companies in Los Angeles have financed more than $1 million trillion, and the total amount of start-up financing is increasing at 30% a year. Only September, the honest Co (yes, is the big beauty Jessica Alba open mother and Infant electric quotient) financing 70 million dollars, JustFab financing 85 million, ziprecuiter financing 63 million such news has been commonplace, let alone another planet The noble cool company Snapchat in the end sucked into the investors how much silver. Needless to say, every investor has a wish to raise a unicorn. So the number of hand-hand index, nearly two years in Los Angeles, the Unicorn has more than 10: not just mentioned Snapchat (10 billion), JustFab (1 billion), The honest Co (1 billion), but also the acquisition of Beats (3 billion), Oculus (2 0), Maker Studio (1 billion), IPO Cornerstone OnDemand (2 billion), TrueCar (1 billion, there are free growth SpaceX (5 billion), Live Nation (4 billion), Tinder (1 billion) and so on. More important than the number is: these unicorn scattered in various fields, not only to meet the big cosmic Conquest plan, but also to take into account the ordinary people looking for a girl's simple wishes, in all aspects of the basic necessities are covered. So I would say that Los Angeles represents the direction of future entrepreneurship, which stems from the 3C "theory of Mark Sustor, the most famous investor in the Los Angeles venture Circle." 3 C "summed up the industrial structure of the Los Angeles Entrepreneurial Circle: Content, communication (communication), Electric Quotient (commerce). There is a deep meaning behind this set of theories. He cites the innovative development model of Andreessen Horowitz partner Anderson in the dynamics of technological change and financial capital: Bubbles and Golden Age: the development curve of the internet follows the pattern of older technologies, such as automobiles, railways and steam engines, first developed at the infrastructure level, Then the application level of innovation will follow. We are already in the middle and late stages of building the infrastructure of the network age, so DropBox, Airbnb the application-level companies will innovate. On the network infrastructure, routers. browsers, databases, compression algorithms and so on are like industrial times paved railways are generally gradually built perfect. So, as in the industrial age to build an urbanizing economy, the door to innovation at the Web application level is opening to us. Change and subversion of people's Daily necessities, entertainment and exchange of the application of innovation is the future development direction of entrepreneurship. Further, all the personal needs of customers, that is, any behavior that can be done on the web, can be grouped roughly in the category of 3C. And in the construction of 3C "industry, the Los Angeles pioneering circle has its unique advantages. In the Content field, Hollywood's entire industrial system breeds the best creative talent and technology in content, while the development of virtual reality and the application of good 3D special effects technology are already ahead of many other places in this land. In the field of Commerce, Los Angeles has a trade volume of more than 400 billion dollars a year, creating 36% of the U.S. apparel sector and the largest retail trade center in the United States. In the field of communication (communication), Snapchat, Tinder, Whisper, and other thriving communications tools, just to get out of the way under Facebook, Twitter, and more forms of communication tools that also grow savagely within the circle, Explore new ways of communicating with different people. Of course, the Los Angeles ecosystem is thriving, and there are more factors to drive it. Multinationals have opened new divisions in Southern California, and more skilled people are willing to stay in Los Angeles; Caltech, the University of California, Los Angeles and other prestigious universities in recent years to actively promote entrepreneurship training and project support; The Government has also introduced policies to support the development of entrepreneurial areas such as Santa Monica, downtown Los Angeles, and Pasadena. When we were doing our activities this year, the mayor's office of the city of Pasadena offered to cooperate and provided the City Convention Center building as the forum venue. And more continuous entrepreneurs after the success of the angel investors or set up a VC fund to feedback the community to support more new projects generated and developed. The opportunities for Chinese in Los Angeles undoubtedly, the development of the Los Angeles Entrepreneurial Circle has also brought opportunities for Chinese entrepreneurs and investors. Los Angeles is the most suitable city for Chinese immigrants, and the proportion of Chinese in all the major cities in the United States is the first. China's foreign capital is now so exhausted in Silicon Valley that it does not necessarily grab good projects. The Los Angeles incubator has a high success rate, a low valuation of the project, and a local investment agency that does not grow quickly, providing a good space for capital to enter. 3 C "Under the industrial structure, the Los Angeles start-up enterprise internationalization demand is big, the Chinese market is undoubtedly they expect the internationalization important one station." And the enthusiasm of Chinese new immigrants to start a business is also rising. Three years ago we started our business in Los Angeles, and the big Los Angeles guys were just a handful of Chinese faces. And now about entrepreneurial activities, a few days there are hundreds of people registered, and sometimes in short supply, including Chinese entrepreneurs and investors accounted for the majority of the audience. With the Los Angeles top venture capital institutions to discuss cooperation, the discovery of its incubation and investment in the project, there are many Chinese entrepreneurs figure. Even Cross campus CEO Ronen Olshansky in the venue to find me a big talk about how to attract Chinese entrepreneurs and investors to develop the Los Angeles entrepreneurial circle. When you walk through the streets of Los Angeles by yourself, you happen to have a chat with a roadside entertainer or café waiter. Once upon a time they were young people with dream dreams, thinking they were the next Lewis or Jennifer, and now their opening turns: You know, I have a good project in financing ... "the author of Zhang Chen, founder of the Los Angeles pioneering platform, co-founder, operations director. Mailing Address: jenniferzhang@plusyoou.org