Twitter investors: Chinese entrepreneurs are "too young and Too green"

Bill Tai, a partner at the Charles River Venture capital (CRV), who invested in well-known internet companies such as Twitter, said May 25 that there were additional risks in investing in China, so they were not in a hurry to enter China, and he believed that compared to "scarred" American entrepreneurs,　　Chinese entrepreneurs are also "too young and too green". Thailand received an exclusive interview with NetEase Technology.　　Unlike most VC, he does not express the desire to be eager to eat the giant cake in China, but rather in a very calm attitude in the observation. "There is a risk of investing in China", "China's lack of SNS environment, regulatory uncertainty, these are the risks of investment in China." If China has a better open platform, a better business environment and a somewhat looser regulatory environment, we will be more likely to invest in China. "said Tai. Although he also stressed that the United States itself has too many internet companies, they are not a lot of team, "no time and energy to build funds in China", but they are cautious in China, is clearly more than that, the overheated capital is one of the reasons. "Hot money started pouring into China two or three years ago, so we avoided that rush." Even as many foreign VCs flock to China today, CRV remains unmoved. Thai listed in China's investment, almost all go back to the 2006-2008, including Proud browser, TVU NX and netizens world.　　Thai said they will not spend much time looking for projects in China, but will have partners to recommend to them, their partners in China, including Infineon Infinity Investment Group partner Ludong. "Chinese entrepreneurs are too green" in addition, he argues, Chinese entrepreneurs look more green than failed US start-ups. As one of the earliest and most well-known venture capital funds in the United States, CRV has a history of more than 25 years, but the "conservative" feature has been followed by them, which is also reflected in the selection of start-up companies. CRV obviously liked the serial entrepreneur, Thailand has also been emphasizing the importance of "experience" in choosing start-ups, and even the idea that if they are experienced entrepreneurs, even if they have no business plan, they are acceptable to them, and Chinese entrepreneurs obviously don't. "American entrepreneurs are obviously more experienced, many of them are 2 times, 3 times entrepreneurs, failed many times, so more entrepreneurial wisdom." Few people will succeed in their first venture, American entrepreneurs are scarred, and Chinese entrepreneurs are too young. "From Apple to Android and Apple to the core," Apple changed the world, but first changed the United States. "Ty describes the changes Apple has brought to the mobile internet. He says the rise of the US mobile internet is largely due to Apple, but he also believes that the trend of mobile internet will be from "Apple-centric" to "Android and Apple"Heart ", it also brings the development potential of mobile internet in China and other emerging markets. Thailand believes that the most potential business of mobile internet is social class, or a "new way of communicating" such as Twitter, but he also poured cold water on Chinese power companies, "I don't know this very well, but I think there's a lot of uncertainty about China, Because the matching logistics and payment methods are not as mature as the United States. "And for CRV's investment strategy, he laughs," for him, investment is actually love, suddenly found a good project, as suddenly "fall in love," Everything is not a good plan to proceed. But he says CRV is now more international than it used to be, including offices in London, Tokyo and Australia, and will gradually increase investments outside the United States.