Medical...... Tourism...... Housing......

Shen Feng sighed, compared with the so-called first, second and third-tier cities, the future royal road is still in the countryside.

Whether it is the clothing, food, housing and transportation of material consumption, or all walks of life of spiritual consumption, the most scarce resources for entrepreneurs in all tracks are the same when they enter the sinking market......

Flow rate!

An eternal topic in the business world.

Some of the entrepreneurs in the sinking market I have seen in the past are not down-to-earth enough and cannot hit the pain points of 1 billion residents......

Some of the patterns are a little weaker, and some of the obstacles determined by the characteristics of the industry are an insurmountable mountain in front of them......

In the end, it will be mediocre.

Qi Ji jumped, not ten steps.

Ten horses, the merit is relentless.

You have to grit your teeth and boil it!

In the afternoon, I came to the nineteenth floor, which is the newly established data center and the core of the group's most money-burning technology.

"AI can't figure it out?" Shen Feng frowned after listening to Ye Fei's thoughts: "Then Baidu ......"

"It's not that it can't be done, but it's difficult to support high valuations with earnings at this stage. Ye Fei explained: "Their listing has nothing to do with whether there is a market for their own things and how much sales they have. Now, whether it is the AI chip industry or other industries that are rigidly attached to AI, many people say that it is the future and a general trend, but I think many companies are too anxious, which will harm the entire industry. ”

Shen Feng nodded, now all the future research of the Internet has two major directions: one is big data, and the other is the so-called artificial intelligence.

Ali specializes in big data, and 100 billion smashed out a Damo Academy.

Li Baidu ALLIN artificial intelligence, bankrupt and gamble on a tomorrow.

The unicorns of three years ago are now anxious, with a casual valuation of more than a billion dollars, but they are falling into a cycle of harder and harder to prove their worth with their income.

In the face of the trend of de-bubble, this year we have tried our best to find a new way out - or take risks to go public, or step up fundraising, or open sources and reduce expenditure......

All kinds of salary cuts, layoffs, and welfare cuts......

I don't want any face!

"Do you remember a certain period of time when face recognition companies desperately advertised how many fugitives they had helped a certain police station arrest and how many smart communities they had established?"

Ye Fei said with a smile: "All kinds of blows into the sky, only to find out in the end that AI is truly only one security?"

"What CV four dragons, SenseTime, Megvii, YITU, Yuncong, the sense of presence in the security market is far less high than what the outside world sees. ”

"In this ToG and ToB industry, no one can rely on the so-called technology to eat it all, and the competition here is more inclined to slowly encroach. ”

"Channel connections may be more related to the life and death of enterprises than technology and market brands. ”

"In fact, it is only the next-level algorithm solution supplier of large system integrators, and the right to speak to end customers cannot be compared with the security hardware giants Hikvision and Dahua. "Housekeeper

"The jargon is called algorithm manufacturers, and they are all high-tech concepts. ”

Speaking of this, Ye Fei remembered something, and joked: "Last month, I went to inspect a few so-called high-tech industries, and I didn't feel very down-to-earth, a little dignified, and incompatible with the market." ”

"The simplest example, with the popularization of face recognition technology, the so-called high-tech threshold established by these leading technology companies has become a thin paper that can be broken at a piercing, so everyone has turned their heads to make various hardware devices with face recognition. ”

"It's very simple to distinguish the gap between AI companies and hardware factory door locks, as long as you touch it, you feel that this thing is hotter than others, and it is 100% a high-tech product......"

"After all, other people's algorithms are running in it!"

Shen Feng looked up to the sky and laughed, cultural people are different, and the amount of information complained about is very dense.

"If we say that in the security market, AI companies can at least get a lot of project income by participating in smart projects around the world, but for those AI companies that focus on the pure ToB and ToC markets from the beginning, doing the business of artificial intelligence landing means competing for resources and users on the same runway with top technology giants. ”

Ye Fei gradually said seriously: "Three years ago, the AIOT smart hardware market, including smart speakers, was in a mess, and voice recognition unicorns such as Yunzhisheng had used Ali Xiaomi's voice module orders as financing and publicity points. ”

But in fact, the unit price of the licensing fee of the voice algorithm model is very low, and the cunning Internet companies do not say anything after mastering the algorithm. ”

"I've seen a scene with my own eyes: a leading domestic mobile phone company once asked a startup company to give them a voice model for free, and all the hard work was to type a name on the big screen of the press conference?"

"19 years later, many of these companies are even more scoffing, because all the data collected by smart hardware is actually in the hands of Internet giants, which determines the iteration speed of your algorithm model in the future. ”

"Whether it's 2C, 2B, or 2G, whoever has massive data in the AI field is the father!"

Shen Feng took a deep breath, this was the real gap between himself and the giants.

Don't look at Pinduoduo's market capitalization, but in terms of data accumulation, how can it be compared with the old horse who has been playing for 20 years?

"In the past few years, a group of AI chip startups that have risen by the surge in demand for enterprise computing power and the Sino-US trade war are being tested by the technology and product quality of their ......."

"Cambrian, which has multiple AI chip product lines such as data centers, automobiles and mobile phones, was criticized when the prospectus was disclosed, after all, its most successful business in the free market was only the mobile IP licensing fee collected from Huawei......

"For chip design companies, there is only one reason to survive in the free market, that is, the product must have core competitiveness. He pointed out that if a unicorn's chip is exactly the same as NVIDIA's GPU as soon as it is launched, then the comparison between the two will always be a software ecology, and the former can only be beaten by the latter......"

After a high information output, although Shen Feng didn't understand it very well, he also felt the pressure Ye Fei was facing.

Ye Fei took a sip of tea and sighed: "Don't look at Li Baidu's confidence on the surface, in fact, he must be panicking in his heart." ”

"It's no joke to enter the automobile industry chain, without a three-to-five-year cycle, without a consciousness that has been tested by the car factory, it is impossible to squeeze in. ”

"Even if you squeeze in, you are embattled, and you live trembling all day long, and you may die as soon as you open your eyes!"

Shen Feng nodded, this is also the reason why he insisted on not investing in AI, he would rather burn money for research than be cut leeks.

Li Nanjun's various BPs are more than one person, and the primary market is currently generally short of money. But it is the early investors who are relatively more uncomfortable during this correction period. Because most of the real situation is that new shareholders are reluctant to take over, old shareholders have a strong willingness to exit, and all AI companies still have not come out of the cash burning period.

If you can't raise money, you can only go public.

But the so-called unicorn has been blown to the sky by the industry, can it be successfully listed?

Where is the great pick-up man?