Kai-Fu Lee talks about Chinese entrepreneur: independent, passionate and risk-free

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Beijing time September 1 news, today, the United States famous science and technology website VentureBeat on China's Science and technology entrepreneurship issue to Innovation Workshop chairman and CEO of Lee Kai-fu. In this interview, Kai-Fu Lee told us about the characteristics of Chinese science and technology innovation Enterprises, the situation of innovative workshops and the differences with Western models, and analyzed the development prospects of China's market.

Kai-Fu Lee said that Chinese technology companies are independent and passionate entrepreneurs, but the Chinese-style education and advocacy of conservative, risk-averse social pressure and cultural influence, such as "Innovation Workshop" with rich professional experience and strong funding organizations to help them achieve rapid development. Referring to the Chinese market, he suggested that the lack of understanding of China led to two opposing views of optimism and suspicion in the US, in fact, China is a "parallel world", and the success of American companies are similar, in the long run, China's Internet market will be further integration with foreign countries.

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Chinese entrepreneurs are independent and passionate

"Like Silicon Valley entrepreneurs, Chinese technology companies are entrepreneurs that are independent and passionate, even harder!" this evening, when asked about "the uniqueness of the founders of China's technology companies" during the interview with VentureBeat, Lee, The computer scientist, who has a legendary experience with Apple employees who have turned to Microsoft engineers to become president of Google China, says.

Two years ago, Kai-Fu Lee left Google, founded his own innovative incubation station innovation workshop. Tonight, we learned that Lee has raised 180 million dollars for innovation workshops. Funds are mainly from the western background of large multinational companies and many Silicon Valley investment elite and VC companies.

"We are the leading, early incubator. What is unique is that we have a large and experienced team of expert mentors, and we focus on those areas that are growing rapidly and invest in companies that have great rewards. We have strong capital and double bets on the winning business. ”

Chinese-style education rejects overall business training

Lee is the most famous "turtle". This is the name of people who were born in China, who had studied abroad and returned to work. While he was living in the United States, he had focused on the pattern of entrepreneurial incubation in the United States, such as Y-combinator, but he thought the models were unworkable in China.

He argues that Chinese-style education rejects overall business training. The conservatism of Chinese parents has led young entrepreneurs to evade risk. Cheng Wan defeat will incur the most bitter criticism. Cultural and human resource needs are also very different from those of the United States.

Finally, Lee said he realized that his mission is to help those independent and hard-working Chinese companies to provide them with the best support and advice, but the road to their own to go.

Wall Street's analysis of China's internet stocks is disappointing

We also asked him about his experience with western investors who tried to meddle in the Chinese market. In the eyes of many people, the Chinese market is fascinating, mysterious and profitable after avoiding certain pitfalls. "I think there is a strange polarized view that one side is optimistic and the other is skeptical." The polarized view of the United States is largely due to a lack of understanding of the Chinese market. I was disappointed by most of Wall Street's analysis of Chinese internet stocks. ”

In terms of trading, China's technology stocks experienced a sharp decline throughout August, and the market capitalisation of well-known companies such as Renren and Baidu has suffered huge losses this year. Some of the best-known Chinese internet stocks fell 20, 30 or even 40% in August.

Lee continued: "But in fact, the United States is very similar." Companies with good products, business models and good culture that care about their users will succeed. Some companies are overvalued and may even have a certain bubble, but there are also a lot of companies that are very good and show good prospects. As in America, the trick is to pick winners. ”

China's Internet and global integration

In view of the environment of Kai-Fu Lee's creation of innovative workshops, we asked him if he thought that China's internet market was out of line with foreign countries, could it build a huge web-based ecosystem?

Lee said: "In the short term, for a variety of reasons, the Chinese Internet market and foreign have a disconnect." But in the long run, there will be more integration. We are helping some multinationals to enter the Chinese market. At the same time, interestingly, China is almost a parallel world. Here, the internet is roughly the same as the outside world, but in some places it is starting to take a different path. ”