When Yang Jiangang heard this, there was indeed a big difference, and he immediately gasped, but after inhaling it, he still didn't know what the result would be?

I only heard Chu Yuanxi say: "If we had done an anime at that time, the webcasting platform would not have rubbed sand in its eyes, and it would be clear how much traffic it brought to people." Others, a user hula to drive a class of people, or even more, what about us? Doesn't that directly expose the flaw? On the contrary, the TV series will not make such a big difference. So that 'friend' of yours should not fight the idea of the Pakistan people......"

When Yang Jiangang heard this, he said in his heart, isn't Ali's side about to stage a tragicomedy rhythm?

"Hey, wait. He suddenly thought of a new question, and it was sharp: "I'm not the first person to ask animation, am I?

"Oops, it's so easy. There is no need for Chu Yuanxi and Yang Jiangang to hide, "The traffic of large-scale animation is high, and the investment is also huge, but the influence that can be created by the same scale of traffic is limited, which can be understood as 'cost-effective for gaining influence' is very low." Just refuse. Well, you can say the same with your 'friends'. ”

"But how is this possible?" Yang Jiangang couldn't understand at all, because he was an animation practitioner. "Wouldn't what I'm doing now be terrible if it wasn't cost-effective? But no one in the whole market, whether it's investors or my friends, thinks I'm bad. ”

"Because you are a platform, the low cost performance is low because part of the influence is taken away by the platform, and you are the rentier party. I'm talking about the low cost performance for me, the copyright owner. ”

Chu Yuanxi said, thinking that I have mentioned "friends" so many times, why didn't Yang Jiangang react at all? This is learning to hide his emotions?" "Do you think, the audience of the TV series is knocking CP, knocking is the director, the service Huadao, and even the screenwriter, these hot platforms can't be touched, I want to find a way to do activities, and these traffic can be guided to my side." Animation, it becomes a platform to find a way to do activities. So, you know what you're going to do in the future, right?"

Yang Jiangang suddenly had a fierce thought, and switched to the side of the Ba people, using the scene from a year ago or even half a year ago, and deducing it according to Chu Yuanxi's statement, it seems that making animation is nothing more than a price problem, and what the Ba Ren Group earns is only the difference between the production cost and the procurement cost of the webcast platform.

That's not much significance, it took a lot of effort to produce, to negotiate with Baal, and finally recorded a turnover of less than half a month of revenue for mobile games, the biggest significance is to create some new paying users for the platform and improve some stickiness, so why bother?

Chu Yuanxi glanced at Zhao Jie, he was still in a meeting. No way, Zhao Jie is also the CEO of a company now, everything is busy, all working hours are arranged, everything is very important, and it is different from the past when you call and go, you must give enough respect. Therefore, now Chu Yuanxi is looking for Zhao Jie to say hello in advance, for example, in the morning, tell him: I'll talk to you in the morning, like this.

As a result, after saying hello this morning, I temporarily changed my hexagram in the morning and released Zhao Jie's pigeon, so don't you have to wait to find it now?

"Hey, wait, Yang Jiangang, why are you looking for Zhao Jie? Shouldn't you come to me directly about this?"

"I'm here to find Yu Wenhui, and I originally planned to look for you later. Yang Jiangang scratched his head, "I heard Yu Wenhui say that you brought him Suzuki Yudashen? Why don't you call me?"

Chu Yuan Xixin said that it has nothing to do with you? Asking you to come to the fans to meet idols? Won't that make a mess for me?

Yu Wenhui is not here, I don't know where to go, now he and Zhao Jie are still working in the Ba people, but they will soon move to nearby, such as next door on this floor, opposite the door and the like. For them, only when they are spatially independent can they form a true sense of independence, and only then can they form the habit of independent thinking from their own state when dealing with events.

Immediately, Zhao Jie and Yu Wenhui had to feel the independent analgesia from Chu Yuanxi's whipping, just like Yang Jiangang had felt. This is the inevitable path for them to embark on the path of entrepreneurship.

However, Yang Jiangang is also the CEO of a company, and he also needs to be respected accordingly. So Chu Yuanxi's words became when he came to his mouth: "What's the hurry? In the future, there will be many opportunities, and the entire Suzuki Yu team will come to the company to develop, and I will see you vomit in the future." Are you looking for me for the TV series "The Faint King of No Way"? Then it's okay, I'm leaving. ”

Chu Yuanxi said that he was leaving, and as for Zhao Jie, he asked him to talk after work. Unexpectedly, Yang Jiangang grabbed him and asked: "Hey, wait, wait, I heard Yu Wenhui say that you and Suzuki Yuto think that cloud games will threaten console games, what do you think? ”

"Common sense?"

"Common sense is that Nintendo can be carried by Microsoft and Sony beating its head, relying on the exclusive monopoly of first-party IP games. Console players basically buy consoles based on games, and whoever has more exclusive IPs and whose games are doing well will sell more hosts. As long as a major console can still develop its own high-quality games, its consoles will not worry about selling. ”

"You're barely a common sense of the past. Chu Yuanxi began to build from a lofty position again: "I said that you need to study and think more, and your cognitive upgrade is imminent, Lao Yang, when you enter the IP port, you must learn to look at the industry with the perspective of development, otherwise you will be thrown off the car in minutes." ”

"No, Chu Yuanxi, promise me, will you be reasonable first and then zhuangbility?"

"The truth is, yours, the real soldier is not, the tactics, don't understand. Why do players buy consoles to play games before, because it's fun? Yes, but that's just one of the reasons. The more important reason is that there were so many high-quality games in the past. You know better than me that there is a chain of contempt in the game industry of 'consoles, platforms, stand-alone games, terminal games, and mobile games', and the console circle can certainly rely on IP to build fences. It's normal for players to buy consoles for exclusive IP games, right?"

"I know, what are you going to say?"

"What I'm saying is that this chain of contempt is about to break, and then it's the era of cloud gaming. ”

Yang Jiangang squinted his eyes at Chu Yuanxi: "Don't talk about the concept, okay? The concept of cloud gaming existed ten years ago." Did you know that in a week's time, on December 4th, Nintendo and Penguin will have a Switch China launch event? Do you think Penguins are stupid?"

Oh, have you learned to talk back? Chu Yuan Xixin said that this must be educated.

"I didn't see how the penguins signed the contract, and I can't tell if it's stupid or not. However, games are the main business of Baren Group, I am a practitioner, and I know that the playing style of the domestic pit daddy mobile game in the past will definitely not be able to play. Every time the bandwidth expands, something new will be born in the gaming industry, and this time it is undoubtedly the popularization of high-quality productions.

Put my words here, 5G is popular, and the game ecology will inevitably be differentiated. On the one hand, UGC games are prevalent, relying on user creativity to take the low-cost route, the more users there are, the more creative they are, and winning by quantity; on the other hand, it forces game manufacturers to comprehensively improve the quality of games, from content to performance and even gameplay, you don't change, others change, and you immediately fall behind. ”

"What does this have to do with my console game?" Yang Jiangang directly brought himself into the console game, quite a bit of Lao Tzu is aristocratic momentum. As an old planner for more than ten years, he still remains loyal to the game, and he also plays console games, which is one of the reasons why Chu Yuanxi respects Yang Jiangang's professional skills, but it's not good to be blind because of this, it's very bad!

Therefore, Chu Yuanxi said coldly: "In the past, you didn't use the console to play a few 3A masterpieces a year, and there may not be a type you like." In the future, there will be dozens or hundreds of 3A masterpieces that you can play with your mobile phone every year, and the choice will increase more than ten times, or even more, and there will be any type. There are a lot of fun UGC games, low cost but full of creativity, and there are always tens of thousands of them a year.

There are still a few exclusive IP games that console games support you, and you still spend thousands of dollars to buy consoles, are you sick?"

"But ......"

The game is also a competition for the user's time, and it is the most fierce competition, the bigger the production, the more time is killed, your, understand? Let me tell you this, the traffic on the network is equivalent to the river, and the IP exclusivity of the host is equivalent to the riverbed, protecting their own traffic and forming a private domain. In normal times, the wind and rain are naturally smooth, but when the historic waves come, the riverbed will also be washed away.

The more open and circulating, the more difficult the private domain is, so I don't believe that in the 5G era, two or three IPs can erect tens of billions of fences to block the flood peak. You just have too many old ideas, hurry up and train your way of thinking, otherwise being knocked over when a new big wave appears is your only destination. I don't want the Palestinians to lose their investment. ”

"According to you, aren't the major OEMs going to finish playing?"

"Nokia and Motorola can all fall, what is the host?" Chu Yuanxi thought for a while, "But it's not absolute, the hosts can continue to cut their old users." The old IP must use the new host to go out of the new game, and the old host can't be moved, so the user is cut bald. What do you think of that?"

"You lack virtue, you ......"

"Just kidding...... In fact, I think that OEMs may adapt to the times, right? Give full play to the advantages they have accumulated in equipment and take the lead in entering VR or something. In the future, it is likely that the VR field will be the C position of the main engine manufacturer. ”

Chu Yuanxi went back satisfied, but in the afternoon, Zheng De called, it was Yuan Jing's assistant, and invited him to participate in a venture capital forum, on December 4, the forum will evaluate the 2019 Tianchao equity investment annual ranking. This is a ranking for investment institutions and investors, because more than 10 circles have been held, and the promoters are also big names in the industry, and they can invite important guests, so it is still a very important ranking.

In a ranking like this, it doesn't really matter how many people rank there, because there are too many py relationships in it, and the key is that there is more than one name in the ranking. There are angel investment rankings, early investment rankings, investor rankings, active rankings, and even fundraising rankings, etc.

What is more excessive is that the same investment, but also artificially separate the ranking of "venture capital" and "private equity investment", which is not parallel at all, and the organizer can be described as painstakingly in order to better distribute the honor.

Because of this, being anonymous on the list will make it embarrassing for self-proclaimed high-grade investment institutions, Zheng De was on the list a few years ago, but in recent years, all of them have fallen to Sun Shan, so this year is quite important.

Zheng De was very active during this time, and he felt like a tiger. In fact, Chu Yuanxi knew that they were not rich on their books, and if they really wanted to say how much return they had made, they didn't, because they didn't hit any IPO for a whole year.

In the first 11 months of this year, 50 PE/VC institutions returned more than 1 billion yuan at book value after hitting the IPO. Therefore, as a private equity company that mainly invests in early-stage private equity, Zheng De does not have much advantage when comparing book returns this year.

However, this year's popular indicator for comparison in the fund industry is DPI, also known as the dividend rate of invested capital, and Zheng De's statement in this regard is very bright.

The so-called capital dividends, the simplest understanding is that there is no consideration of how the fund is withdrawn, as long as it is earned and withdrawn, it is a good investment, and you can share profits instead of losses. Those funds with high paper returns look great, but when the lock-up period passes, the devil knows how much is left on the books. And if you want to exit, you need a bull market, and the open market lacks liquidity in the bear market.

Among them, one of the highlights of Zheng De is that Du Shuang was invited to invest in self-media in the first half of the year. After this, I don't know if Du Shuang was ashamed and brave, or because he was eager to increase his voice after investing in Fang Shiling? It may also be because Yuan Jing's kindness changed his depressed mental outlook when he invested in Daxia, and in short, he became very active.

And he is different from Yuan Yu. Yuan is looking for projects in the field of IP self-media, and he does research when he sees a good one, so his energy is relatively scattered, and it is not easy to form a correct methodology. And Du Shuang only does short videos on Douyin, and almost only does urban outdoor, and indoor content such as shopping malls and store visits is also classified as outdoor, of course, mainly street photography beauties.

This concentration makes it easy for him to quickly try and make mistakes to find the most advantageous investment path.

Just in time for the second half of last year, the two main players in the short video track, Douyin and Kuaishou, have successively turned their firepower and provided extremely important support for the short video e-commerce environment.

Wherever this kind of real money goes, the opportunity will come, so a large number of M mushrooms have sprung up, and the support of the capital market is inevitably needed in this process, making investment and financing extremely active. Du Shuang just caught up with this wave of **, after entering the market, it is equivalent to finding that there is an opportunity to calmly withdraw in the process of early investment, and some people are willing to take over in the medium term to buy a "certainty", and then he began to run in small steps.

In fact, the buying and selling of the equity market is a reflection of confidence, and the open market is nothing more than the supervision of the Securities Regulatory Commission, with an additional layer of nominal protection. In the non-public market, if someone is willing to trade the opportunity and someone is willing to take the risk of buying, equity trading can also be carried out.

At the same time, Douyin M is a subject matter that speaks with data, which is very suitable for early trading.

The reason why many non-public equity transactions are difficult is because due diligence is very laborious, and investors who want to invest a sum of money in it have to be very expert so as not to be deceived. Unless it is a star product like "Out of the Mountain in Troubled Times", the data is public, and there is very little space to hide cats, so it will be more enjoyable to trade.

The situation on Douyin M is similar, because there is a situation on Douyin where the cost performance of swiping fake is not as good as sending real content to attract real fans, so whether you buy or sell, you just need to look at the data, and then look at the content and think about the future monetization, which is very transparent.

Therefore, Du Shuang has made dozens of investments in the past half a year, and a small half of them have withdrawn after increasing in value several times, and the profit multiple of the exit has reached 6.3 times!

This is quite scary, you must know that the return rate of my big A-share IPO was the highest in 2010 and 2017, which was just more than 8 times, and the more dismal years, such as 2015 and 16, were only more than twice as high.

Du Shuang's investment is not large, it is a small project of the order of millions, but after the fast in and fast out rolls up, hundreds of millions of profits have been formed, and it is not on the books. This flashes the eyes of a group of people when calculating DPI, the key is that this rate of return has great fault tolerance, and half of the wrong ones are not afraid.

However, this is not the main reason why Yuan Jing is very tiger. Now many people are optimistic about Zheng De because there is a legend that the capital market will recover in 2020, whether it is my big A-share or venture capital field, it will welcome back the heat wave, all saying that the previous depression was too ruthless, and the economic cycle cannot always decline.

Under this tone, Yuan Jing has invested in Ba Ren Entertainment and well-off life for more than a year, and then there is a large-scale snow project, which is either already a star project or has great potential, and it is likely to explode once the capital market recovers next year.

Among them, the snow project that Chu Yuanxi hadn't cared about for a long time had actually expanded the plate several times, Yuan Yuan knew that he was busy, and every time he signed an investor agreement, he asked him to sign it with a simple word, and Chu Yuanxi didn't ask in detail.

This time, it was Yuan Jing's assistant who called, and he said it in more detail, and he found out that the plate of the snow project was actually more than 4 billion, and he ate into a scenic chemical project and several ski resorts, and also extended to the field of upstream equipment. As a result, its share was also diluted to 1.3%, and its value was 3 times faster than the 20 million that was invested at the beginning.

"Okay, okay, December 4th, Continental Hotel, right? ”

"Uh...... Mr. Chu, can you provide an explanation of the recent situation of the Ba people and the well-off?"

Chu Yuanxi looked confused: "You ask Yuan for it, VC's post-investment services and audit due diligence have always been done by her." ”