Kai-fu Lee: If you want to grasp the future, more contact with young people

Recently, under the trend of global innovation and entrepreneurship, Taiwan's opportunities and Challenges--2015 Innovation Summit Forum, held in Taipei, Lee Kai-fu, a keynote speech titled "The Digital Revolution: The Golden Age of Innovation and entrepreneurship", said that today's entrepreneurial age has brought greater opportunities than any moment in human history, and over the next 5 years, The big cloud data and Internet of things happen simultaneously, bringing huge entrepreneurial opportunities.

The mobile internet is exploding and profoundly changing our lives, but if we look back for the next five years, Lee believes that today's changes may be negligible. In the future, our life, entertainment, housing and other aspects will be completely overturned, can not use the view of the past to the future. For example, a future computer should know where you want to go today, what you want to eat, and where to go.

Lee said, if you want to grasp the future, more contact with young people. In addition to Google, he said, almost every latest application was told by his own daughter. And in the future this trend will be more serious. Today, 10-year-olds and 15-year-olds grew up in the age of mobile Internet, and the future content was created by them.

He believes that it is precisely because of this era, the cost of starting a record low, without factories, manufacturing, or even rent the computer room is not, through the Internet, perhaps 3, 5 people can create something of great value. This also led to the scientific and technological giants in danger, and constantly invest in new ventures. In any case, the future belongs to the young, innovative small companies.

From the 2014 capital market, Google, Baidu, Tencent, FB and other giants are spending a lot of crazy investment, so Kai-Fu Lee predicts that future investment in this area will also be a huge change:

1, the first change is the company more and more valuable

2, to make the first bucket of gold entrepreneurs, some continue to venture or to do Angel investment

3. Traditional accelerators and incubators need to be changed slowly, and accelerators and incubators compete with young angels, who must have their own expertise.

At the same time, Kai-Fu Lee also clearly judged that today, including bat, the giant is very clear to see a company once created the great value of innovation, but increasingly difficult to subvert their own, can not put aside the accumulation of the past. So they hit huge bucks to make their great time go on for a few more years. And a lot of innovation companies are doing is constantly speculating about what a narrow area of users want, and constantly make this area more and more, and then become the industry leader.

He also said that in this era, throwing money is a worthwhile bet. However, with the increase of various types of investment, the future choice of listed companies will be reduced. Because the listing needs financial transparency, in the face of the shareholder's long-winded, quarterly earnings pressure, but if you can raise 1 billion or 2 billion of dollars in the private market to solve the problem of employee motivation, people do not want to go public. It will become increasingly difficult for the stock market to attract these companies.