Liuzhong Founder: 4 W

Liuzhong founder of the June 8, 2014, by IDG Capital wholly-owned, pioneering State magazine co-organizer of the IDG Campus Entrepreneurship competition 15th station at the Beijing University of Shenzhen Graduate School held. The campus entrepreneurship competition for all undergraduate and graduate students, to explore the campus of gifted developers and technical geeks. Liuzhong founder of the technology and the present students to share their entrepreneurial stories and entrepreneurial experience. The following is a live speech record, without my review: Liuzhong: Hello, I am Liuzhong, our company is called the soft technology, I first introduced the company is to do what, and then briefly introduce myself. The technology of soft-Yu is simply a company that makes new display technology. I brought something. we can see it. People will use the mobile phone may no longer be such a mobile phone, maybe your phone screen can be rolled up, it is only 1 mm thick, so it has a lot of possibilities, one of our technology is flexible display technology. Of course, we are flexible display technology-related products also do, may be over time we will be able to see our related products come out. So our company's products are positioned in the next generation of new display technology. Briefly introduce yourself, in fact, I came out of the entrepreneurial time is not very long, our company was established in 2012, we in almost a year's time to get more than 120 million of the investment, it should be said that the pace of progress is relatively fast, our team also developed faster, now in Silicon Valley, Shenzhen, Hong Kong has branch offices, the core research and development staff from Tsinghua, Peking University, and Stanford. At Tsinghua University I was studying electronic engineering, and then I went to Stanford. After graduating from Stanford, I went to the east coast of the United States. I resigned from IBM in the United States to start my own company in 2012. This is roughly my own situation, of course, I do not want to simply introduce myself or my company how, I also want to share with you about my entrepreneurial experience and experience, I hope to have some help. A few weeks ago, IDG Linda sent me a micro-letter asking me when I would return home, because I was still in the United States. I said I booked the June 8 flight, June 8 night. He said that we have a IDG in the evening preach, your company in Shenzhen, can you tell? So I changed the ticket to 7th, so I came back last night. I'm going to tell you why I want to. I thought about it for three reasons: the first reason is IDG and entrepreneurial state invited, so I have to come; the second reason, this is a campus entrepreneurship competition, is a student's entrepreneurial competition, I myself in the campus for a long time, I am particularly emotional to the school. I have a deep understanding of my work and my business. There is a difference between the real life and the campus, including the way of working, the way of life, and love, and so on; the third reason is that now you may hear a lot of entrepreneurial stories, such as two young guys in two years to do a company immediately valued 4 billion dollars, and thenFacebook wants to buy them and they don't want to sell them. You feel incredible, probably for many Chinese traditional enterprises that is astronomical, they may spend a lifetime of kung Fu, or spent 30, 40, 50, perhaps their business is now worth hundreds of millions of dollars. But these young people spent two or three years to do 4 billion dollars, think this is impossible. What do these companies do? They are all based on the latest software, the Internet, and now the most popular things in the IT world are being played by young people. But think about it in addition to the software, the Internet in fact there is an important part, that is, hardware, because all the software in the end to be attached to the hardware. I listen to those successful entrepreneurs to speak to say that our E-commerce company listed, but now the market value of only 30, 4 billion dollars, we are very bitter, but I think the hardest is to do the hardware people. We started with a lot of basic research, including materials, circuit design. It takes a lot of time to design a lot of things every day, and at the beginning, no client knows that you can only do it without a hardware product. Like lei they are ripe for millet, but no one knows until they have made it. Let's share some of my entrepreneurial experiences over the years. Simply speaking, four W, who, What, where, Where. The first is the WHO, the decisive. The apple is so strong today that the most powerful thing is how it has a bunch of people doing things. Now our team has my high school schoolmate, has the middle school schoolmate, has the university schoolmate, has the graduate student schoolmate, has the work colleague, these people are many years only then accumulates the network. Why do you want to have such a big span to find these people? In the beginning, each of us is vital to the team. I know a very good friend, he also graduated from Tsinghua University, he was in Tsinghua Materials Department of the time four years are the first grade, went to the United States after a few years of performance is a +, simply said he is IQ and EQ Very high people, I am very happy in the development process to know such people. I found him in March 2012 when I decided to leave IBM completely and set up my own entrepreneurial team. I opened the laptop and told him that I wanted to make a product like this and asked if he was interested. It took me about 10 minutes to finish my ppt, and he said it was interesting, and he was willing to do it on his own terms. But he said it was not entirely up to him to listen to his wife. I said go back to tell your wife, because his wife I also contact, is still a little understanding, so the heart also a bit bottom. After that, he had a week to say or not, I asked why? He said his wife agreed, but the mother-in-law couldn't. I think startups should have heard of how to persuade their peers to join the team, but not like me to convince his mother-in-law? I drove to his house the next night, and I said I would do the thinking work for your mother-in-law. He toldHis father-in-law sits aside, his wife sits with his mother-in-law, and I give them a speech for one hours. Because his in-laws are also doing engineering, they want to know two things. First, what do you do, and second, what kind of people do you do such things with? Because they thought it was a big risk, they had to sell the house if they wanted to leave New York, and the kids were there to go to school. After the talk, his mother-in-law gave me a bowl of dumplings to eat, then after a few days their family moved away, he also quit his job to come along. It is very important to look at this after two years, because he has played a very important role in our team. From the company's point of view, it is very important to focus on talent, at all costs with your partner to cooperate. I would like to say an example of employment, because I think it can explain a lot of things. Of course, we are still recruiting, in the recruitment process we have always adhered to the principle that meritocracy. I also very much agree that in the Silicon Valley always uphold the principle--hire slow,fire fast, is the recruitment time to slow down, and someone does not have to quickly solve the time, this is very important. So we're basically interviewing 20 people, and we can probably recruit 2~3 individuals. Our current funding can also expand to 200, 300 people, but we do not, we reduce the team to everyone can do a lot of things on the basis of, unless the special needs of people when we will recruit. Dr. Liu of the company says you make everyone feel important here, everyone is very passionate and doing very well. I was glad to hear that, for he felt more deeply than I did. We start early in the time is very hard, the first year no wages, the second year 2000 dollars, the third year 10000 dollars, we are the same. When we were engineers in the United States were very high wages, but after the return of my first year's salary is 3666 yuan, I also played a very auspicious figure. So, we should do things in a good manner. What's the second what? I think it's a combination of interest and ideals. Each of us has our own interests and ideals. I wanted to be a policeman when I was a boy, and I found it unsuitable. But then I wanted to be an NBA player and found that I was too tall. Later, I studied science and technology, because I can find my own fun, feel very happy, so I insist on this thing. So from middle school, high school to university has been adhering to the road of science and engineering, sometimes it seems that I only do one thing, but I found in this matter on their own interest, found their own happiness. What we're doing is still in this big direction. But why do we choose to be in the display industry? Maybe you've done a lot of circuit design, semiconductor chip, many things, these things are in the big direction, but in the small direction you have a lot of choices. So in the macroscopic ringYou can also have a lot of microscopic changes in the environment. Why do we do the display industry? Because this is a huge market, it is in line with human convenience, efficiency, easy, beautiful instinct pursuit. Last year, the global display industry market is nearly 130 billion U.S. dollars, you can imagine how we put this new display technology developed after the market, so we do things to choose a big direction, big market. The third is when and when to do something. This is very important, because many times we do not want to do anything immediately can do things, because many times is a coincidence, like love, do not know at what time you two come to a spark. Just like you and your investors, it's too early. He didn't come, it was too late and it was just a little investment. I graduated from my ph. D. In 2009, and I wanted to do business. We all know that 2008-2009 years the global financial crisis in the United States is very serious, the hearts of spectacular. The market is very bad, at this time you have to go to the market to change is very difficult, because everyone is very careful. So I think that time is not a good point of time, looking for investment is not a good time point, even looking for a job is not a best time point. In the 2009, many people couldn't find a job after graduation. So I think that when everyone is not ready, there is no good chance, you can walk while watching. Because sometimes recklessly is a chance to fight. The other is to choose an industry to do things are also very important, in fact, I have done this thing for many years, I 2006 years of time to study this thing, why 2012 years to do this thing? Just said the investment is on the one hand, and of course the reason for the industry. In all industries you can see the exponential rise in its development, followed by the saturation phase. Of course, in a fast-rising stage, if you rush too high, there will be bubbles, and down. Before 2012, the industry is basically oscillating in this curve, in this curve oscillation words sometimes a bit dangerous, because you may be the first person to do this thing in the world, so you die the earliest, became the martyrs. And the people behind do it may become a pioneer. If you burn the resources and the money, the industry is immature, you may be wasted, and just as someone has done it quickly. Last point, where. It's important to do something in the Silicon Valley, and there are people in China who talk to Silicon Valley companies and we do this, because this is a success in Silicon Valley, so it's going to be a success in China, so a sum of money comes in. But not in Silicon Valley, when one thing is done by the first person you have no chance, because there may be intellectual property restrictions. Now there are a lot of enterprises in China to do well, in China to do the things Americans also want to copy, I also hope that more companies do the same thing, is in China after the success of the Americans want to do, then we are cattle. Thank you!