Zhou: Entrepreneurs who sell their companies are speculators

This article is August 13, 2013 China Internet Conference, Sohu founder Zhang Chaoyang and 360 founder Zhou 祎 on-site dialogue content, moderator for Yi International Yang, by Wesse (micro-Credit public account: Weiwuzy) collation.

Moderator: We all know that many ancient martial arts master in further refining martial arts, often will retreat, please tell Charles Zhang about your retreat in the past two years what experience?

Charles Zhang: I haven't thought much about the internet for two years.

Moderator: I ask a just happened two or three months, recently you announced to become the CEO of Sohu Video, why is Sohu video so important? What role do you play in the whole social environment, and why do you make such a choice?

Charles Zhang: First Sohu is a media gene company, we started to do media, media performance is now image media is an important stage of application, so we have to do video, and the video is very advanced, if the Sohu video is not successful, the entire company's profitability will be particularly bad, If Sohu video becomes a profit center, not just the general media, but also the entertainment media, as well as our dream for the People's entertainment mission is achieved.

Moderator: You this two years of retreat, to come to Sohu video as an important display of your martial arts platform, Sohu Video success means that you this two years retreat practice success?

Charles Zhang: Not just the Sohu video, I might be estimating every aspect, including the Sohu client, including Sogou, including all aspects, I hope that is almost the earliest to venture in China, as the Chinese Internet has a long history of people, can in many years after we do not want to be like football alternates to the scene, we still want to be in the center of the stage.

Moderator: Zhou, what do you think of the previous period of Baidu acquisition 91?

Zhou: Most companies in the United States are not in the market, and most companies are buying and achieving returns on investment and risk, which will form a benign and rapid. China's internet in the past few years is too abnormal, many companies have a market value of tens of billions of, but we pay special care, spend millions of yuan are particularly distressed, in fact, the blow is innovation, the fight is the enthusiasm. I always want to change this situation, so 360 in this industry these few years other not boast, but still did a good deed, suddenly one day understand can not do so, we can also spend money, so the giant is happy to do investment and buy.

Spend a little more money on the health of the industry. So, today's video has a news that we are talking with Qihoo 360 to discuss the acquisition, I think this is also a contribution to the community. So, the first 91 thing is a good thing, in fact 91 do very good. I think after this start, I calculate the cash reserves of the Giants, I think this is a very big promotion to the industry.

Moderator: Just now old Zhou talked about the past three years with these giants, 3Q war, 360 has indeed been a constant scandal. 360 originally thought can the internet industry three big mountain pry open one, the result finally oneself becomes fourth, whether becomes two two, does this kind of situation mean that Chinese Internet innovation is more difficult?

Zhou: 360 is a better two, but never a mountain, for example, in the Game field, we do not develop the game, we help all the companies in China to do games distribution, daily distribution is very large. Therefore, I think because of the existence of 360, so I have the whole entrepreneurial link and the whole industry has been promoted.

Moderator: Another angle, as if from Baidu and 91, 360 for China's Internet market value of the fourth company, so this is why we think is the origin of two.

Zhou: Personally, I don't think we need to use the stock price factor, I think we in this industry, of course, some companies can make 40 billion or 50 billion, 50 billion or 60 billion of the company, but not because a company's share price to find the company particularly good, but also to see it is not to make contributions to innovation, it is not the industry, the open is not brought to the promotion. I think this is gone, the most important in the Internet age can not continue to make good products, let users scream for your products, I think this is a new experience for many of our companies. So if you can't keep innovating in the tide of the internet this year, it may be gone.

Moderator: Just two big guy or heart, Sohu now video is also exerting force, Sogou input Method I now also use. 360 from the security start, to the browser, if you two change the position, Charles Zhang, what do you think 360 have to improve?

Charles Zhang: I think 360 is good, there is no need to improve, has been good enough, continue to big, continue to attract the giant bubble, with the brothers crawl forward.

Moderator: Your answer is too simple, I went on to ask, Sohu want to learn from 360?

Charles Zhang: I think the 360 including the pursuit of the product of the old week is what we should learn. Of course, we sohu for the media, entertainment spirit of the old week can also learn from.

Moderator: Basically speaking, is the product adds the entertainment, the product is 360 one strength, the entertainment is Sohu's one strength.

Charles Zhang: Media and Entertainment, then to influence counseling.

Moderator: Sohu is a media with entertainment spirit.

Charles Zhang: Sogou is also a product of such a technology transformation, but we may have to the pursuit of technology and products more night and night to think about this problem, to pursue this issue.

Moderator: 360 is a company that provides users with constant orgasms to orgasm experience, a company that pursues product experience.

Charles Zhang: I think it's probably also the founder of the day and night are thinking about this product problem, products appear any details, can be the first to improve, or directly on the front line to build, such a company has hope, which I think Old week did a good job.

Moderator: I remember once old thoughtful our company (Analysys International), I live to the old week to mention a problem, 360 security guards can not unload, is a very small thing, but the next day old week on the phone, I think this is also the pursuit of user experience, indeed from the last incident, I as a user deep feelings. So today I have 360 in this computer. Zhou Total, you think today Sohu where is worth 360 learning, where you want to give comments to Sohu, you think you can do better.

Zhou: To catch up with each other, first of all, I very much respect Charles Zhang, 1th, he is the first to return to business, to maintain the simplicity of the returnees, more kind-hearted, not like some returnees. So, I always feel that I have been very respectful to him for so many years. The second, may be old Zhang too nice, so sometimes he does a lot of things, maybe he is a good person, there are some bad guys, good people generally beat the bad guys, so in the search war, we do think he is too good, indeed but bad.

Charles Zhang: I don't think it's good or bad.

Zhou: But, I think the original Sohu, I think it is not concerned about, Sohu because Lao Zhang did a lot of business, at that time, the impression that Sohu has done a lot of products, basically the internet company can think of products Sohu have done, this from the bystander point of view, think you do everything, but not a special sperm, Not a particularly sudden rise. However, after the establishment of Sogou, Sogou's input method to do very good, did experience a lot better, even than the original Windows built-in, than many mobile phone built-in input method much better. So, so Sogou built a very powerful platform, this platform is very good. When Lao Zhang came out, I talked to him, he wanted to make a breakthrough in the video, I felt at least the company has a breakthrough point, this is to start focusing, start focusing, this is a very good start.

Moderator: If today if there is a chance to buy 3,601 business, which business do you choose?

Charles Zhang: I think it is the overall user's control and development capabilities, just in the interview also said, Sohu first to do the portal, the portal competition Half-day, said before the portal is the entrance, then said search, so search can decide not to go to the portal, the portal into the content. Then the search went on for a long time, live very moist, suddenly said, do not let you go there to search, and then I use the browser, I am here to search. So, there is search on the portal, search on the browser, with your browser, with my browser, how to let you use my browser, on the software. So, the Internet is constantly evolving, I am closer to your users, directly at your bottom to determine what software you use, finally to the content, in fact, this is an evolution of the Internet.

In fact, Zhou still quite capable of living lonely, when I returned to business in 1998, I thought of this business model, search, including the forum, old weeks to tell me, I was in the United States, the domain name registration system first registered domain name, get a half-day, finally I also think of the browser address, the web has an address bar, Why are you losing there? I think he can withstand loneliness today, now become a major flow distribution platform, he did not do the search, of course, did search, basically some twists and turns of the road, but still keep a close eye on the entrance of this matter, although the upgrade of the portal, to promote the development of software.

Moderator: Zhou, which assets of Sohu are you most interested in?

Zhou: Chinese Internet excellent enterprise very many, do not say Sohu, like a gold map, I think the future map is very important, I and UC Yu also said. So, we really have the opportunity to cooperate when we are very embarrassed, often sitting in an auction house, each of the Giants are more than 40 billion dollars on the possessions, but we do not have the strength.

Moderator: Just now have such a sentence, to be together, how do you think of this problem?

Charles Zhang: This question cannot be answered.

Moderator: Is it possible to cooperate with 360?

Zhou: We've known each other for more than 10 years, but we're definitely not good friends.

Charles Zhang: In the past two years, many new words, including good friends, do not know what it means.

Zhou: The second is really a lot of gossip recently, so I am very stressed, if the future can win a better game in the price, I also recognized, but the specific problems I also do not speak publicly.

Charles Zhang: There was a very interesting thing in history, when 3721, in short, when the three major portals, Zhou later developed 3721, we think you often feel that the world is always like the feeling of the sky falling down, a bit of crisis consciousness, so this must be sold, sold to whom? Sina, Sohu. Later I said, to me the first is to sell to Sohu, but the price is expensive. However, the second is not to sell, the third is to sell to Sina. Later on, to solve my guarantee this price, you can't sell to Sina, but you can sell to other companies, including multinationals. So, he should start saying, you give me a price, I take this price to go to the United States.

Moderator: Just this paragraph has a wealth of information, you put ten years ago Sina, Sohu, just is 3721, to today's Baidu, Sohu, 360, you say so, I also said, you can think of it, you can carry out a rich imagination.

Always find your weakness in battle. Although old Zhou does not admit oneself is a mountain, in short 360 already became an impassable company. For these entrepreneurs, what do you think they can do to sell it to a public company? From this angle can also give us today is the entrepreneurial road to go on this also people some inspiration, you see which direction, think this aspect if you are willing to invest, perhaps one day whether it is Sohu, Or 360 would like to consider introducing you in.

Zhou: I don't understand.

Moderator: I mean today many people are still on the road to entrepreneurship, for the entrepreneurial team to sell to government companies is a good choice. If one day they want to sell to an internet company like 360, what do you think you're interested in investing in?

Zhou: I think this question is very difficult to answer, you always want us to play a prophet, in China the Internet prophecy is very unreliable. I personally think that from an abstract point of view, I think startups should not be in the business of thinking about selling, there is a chance to sell well, but if you decide to sell the company for the purpose, and then aim to do a concept to sell, such people I think is not an entrepreneur, is a speculator, the end may not sell, you and I again gossip, Tencent buys it and doesn't buy you. Finally, the Giants really want to buy a company, or see three points, or the company's team is particularly good, particularly excellent, and I think it is the acquisition of the company's largest asset, because all things can not be done by a person. So, I think that through your business, you may be unlucky, lost a greater opportunity in the market, or may accidentally choose a giant to compete. However, if you prove to everyone that you are a very good entrepreneurial team, I think a lot of companies will be interested in you.

Second, I think there must be a good product, because the user is actually very realistic, never because you have a good concept, or because you have a good layout, or you have any special cow strategy to choose your product, users always ask one of the simplest words, your product solves what problem, I use your product I can get what benefit, How can I be funny? So, if you can make a good product, even if the product you do not earn money, even if the product does not see the future of the business, but it can unite users, it can attract the attention of users, I think this is a lot of us are willing to consider the purchase.

The last, of course, is a field that many big companies are considering coming into is to get the share, get the user's base, I think this way is often not very successful, I think is more show your product creativity and the attractiveness of users, there is a pioneering team itself excellent, to graft it to a larger platform, Greater resources may be made larger. So, all the competition for the purpose of eliminating competitors, I think the most stupid way, you spend 1.9 billion of dollars, and finally the elimination of a company, I think this price is too heavy. So, I think this is the least desirable, like 360 have several products are bought and come, such as mobile phone defender, 360 browser, they are very creative, but lack of understanding of the user market, so we buy it and come in, coupled with our understanding of the market, the understanding of security, Help these two teams to do their products in China first, there is such a team willing to cooperate with us for a long time, I am very welcome!

Moderator: Charles Zhang, how do you look at the purchase from the perspective of entertainment spirit media?

Charles Zhang: Just now Zhou about the team, I'll talk about the specific questions about which field. I feel that the mobile internet has been said for many years now, and now it is finally breaking out, so I think it's good to start a business in the mobile internet. Indeed, because of Apple's change, and the way it is moving anywhere, there are a lot of subversive changes. I've been dreaming about social networking and social media for years, but I've never had a good result. I think social networking is the essence of an Internet, it's a math, it's an advertising effect.

Therefore, I hope that in the case of mobile devices can have a lot of entrepreneurial, to form a more vertical network. Because now the micro-letter module is really scary, but any enterprise it can do a large platform must have its weaknesses, I think there are many important things in the mobile social network, I want to have a lot of new communities up. On the other hand, in terms of entertainment, if the carrier bank is working with us to solve the problem of payment, the video may be more than advertising, but by charging, it becomes a lot of hospital lines, like a movie theater. Cable television in the United States has been charging for years and is very large, China's cable TV has not been done, because of various reasons, China can only rely on advertising. So, FX in the United States can be achieved, it is a familiar thing for them, but China can not achieve, we hope to be able to work with telecom operators and banks to solve the problem of micro-payment, if this can be achieved, micro-film, as well as a lot of entertainment will be a big growth space. So, I can go to the entertainment industry to shoot a lot of director, film works. Because the movie some time ago is really bubble, payment is not resolved, shoot more no drama. But if payment is settled in the future, I think the entertainment industry is not only a drama, but also a movie that could become a new wave of explosions.

Moderator: I quickly summed up the old week and Charles Zhang said, for the entrepreneurial team, the old week's view is to go all out to find the user's burst point, so that your team and the company has a burst point. Zhang's view is that mobile social and fee binding may be the way forward.

Finally, please two each person to make a bold prediction, to meet again next year, you think there is a kind of event will happen, the bigger the better? Do we still have to make a prophecy?

Zhang: It is certainly the Internet will be more in-depth intervention in people's lives, this is not simple, such as I have written a blog, for example, because of Taobao's success led to the rise of many small Dian Dian, as well as many young people a lot of entrepreneurial opportunities. Not only is the channel to sell, but also to do their own things can sell, so now young entrepreneurs, Taobao shop, this is the mobile internet for the traditional industry subversion. Micro-blogging, for example, has led to a radical change in people's communication, including now from the media. Why the Internet conference has become so hot, I haven't come in years, I found it very hot, I think the reason is because from the media and this sharpness of media, first in the IT circle to achieve, that is, a large number of media people you write is not to some of the more pedantic and your personal growth is not related to the organization in writing things , you are writing for yourself, you write a good writing, a lot of readers have acquired the brand, the success of the future business model may allow you to grow, or you continue in a certain organization, this organization will also be a market. Therefore, I think that the first media marketing in the IT circle to achieve, it led to the Internet Congress has always been such a more official, more boring assembly now so interesting, so that it becomes so energetic, so I think the internet in a more profound change in China.

For example, Taobao makes many young people start a business, media development has led to such a change in the Chinese media, become more international, a bit really like the U.S. media. We now include video developments that have basically changed Chinese entertainment, including micro-letter, so that everyone's communication effect greatly improved, so the mobile Internet is the first from the consumer point of view of the people almost all the time taken up, your communication, your entertainment, you consult the acquisition of your shopping. Of course, in the business sector, the business-to-business area also needs vigorous development, this has been in China has been very backward, everyone in the consumer perspective, the Internet in a comprehensive take over people's production. If one year from now, perhaps this takeover, due to the mobile internet this spirit of the outbreak, may be more in-depth. Therefore, it is difficult to predict a year later, I can only say that a year later, China's People's life will be more full of energy, more content, not pedantic state of muddle, but the real and international standards. Then the country is full of hope because of the internet!

Zhou: Today is not to be a firecracker, just look at that topic, I would like to especially ask Tencent technology a little bit of moral integrity good? What I said just now everyone heard, I think 91 to 2 billion is very good thing, but I also told the price process, then he said, I think 91 sell 2 billion prices sell high, I hope you can change the statement, I think 91 sell 3 billion, I am more happy. I hope Tencent and Baidu than a ratio, Baidu 1.9 billion, how can Tencent get a 3.5 billion case? Next year I hope Tencent has a 3 billion dollar takeover case.