After some politeness, Ma Feng still accepted Gu Kun's loan half-pushed.

It seems that in order to hide his embarrassment, Ma Feng after hiding the money, he can only talk to Gu Kun about the way of investment and his insights on the Internet industry without words.

In fact, the opinions exchanged between the two of them on dry goods just now have been almost exchanged.

Today's Ma Feng, many questions have not been figured out by themselves, and I really can't say any famous sayings.

However, for the sake of emotional intelligence, if you just collect the money and disperse directly, it seems that Ma Feng's purpose today is to ask for money, how embarrassing is that?

So I have to talk a little more before I end it.

Ma Feng searched his intestines and scraped his stomach for a long time, and squeezed out a question that was half a praise and half a sincere consultation:

"Kun, what you just said about 'venture capital invests in people, not business'. At first glance, it sounds like it's against the way of doing business. But I also know that there are a lot of investors in Seattle and Silicon Valley who do that...... Why is that?"

Gu Kun didn't know much about the Internet industry in his previous life. He just knows how to combine the Internet with the cultural tourism industry and the entertainment industry, because that was what he did in his previous life.

However, after all, with 20 years of experience and experience, it is enough to take out some basic common sense that later generations already belong to the industry that everyone in the industry understands, and it is enough to deal with today's horse style.

Gu Kun pondered the words, stretched out a chopstick, dipped the wine on the table and pointed out while gesturing:

"Why invest in people instead of business? Because Internet venture capital, we must identify people and entrepreneurs. If the entrepreneur is reliable, the venture capitalist may finally share the benefits of the operation. If you are willing to be with you, venture capitalists can hope to win good returns.

If the entrepreneur's character is not good, and he is in trouble with you every day, even if his business is successful, it is possible for the investor to marry others and be busy in vain.

Because the core competitiveness of Internet companies is an ethereal thing that cannot be protected and enforced by law, the founders have a way to transfer it. ”

"Transfer, how to transfer?" Ma Feng obviously hadn't thought about such a despicable question.

Gu Kun waved his hand: "It's very simple, let's put it this way, let's take the most popular Netscape company in Oceania as an example, you know Netscape, right?"

Ma Feng nodded hurriedly: "I know, they have been popular for more than a year, and they are the world's first Internet general browser, which may be listed at any time, and it may rise several times or more than ten times at that time." It's a pity that people who don't care about it now can't buy the original shares, otherwise I recommend you to invest in them. ”

Gu Kun: "It's easy to say if you know, so what do you think is Netscape's biggest core competitiveness at present? Is it based on the "Patent Law", "Copyright Law", "Regulations on the Protection of Computer Software Copyright" and other laws, can the patents, software copyrights and other intellectual property rights be delineated and protected?"

Ma Feng was a little puzzled: "Isn't it true? Intellectual property rights are very important, and when we talk about intellectual property rights and rejuvenate the country through science and education over the years, don't we all recognize the importance of high-tech content?"

Gu Kun smiled: "Of course, high-tech is important, but the problem is that Internet companies at the application level are not so high-tech.

According to the Regulations on the Protection of Computer Software Copyright, the code expression of software is protected by law, while the algorithms, design ideas and concepts of software are not protected by law.

Therefore, other companies can write a new browser that is not the same as the original Netscape and does not infringe at all - in this case, Netscape can still be awesome and popular for a few years, what do you think its core competitiveness is?"

Ma Feng was completely confused: "Yes...... What is it? It's not intellectual property anymore, what else?"

Gu Kun: "It's the number of users, it's the habits of users! Users follow the products they are used to, of course, it's not that they won't betray at all, it depends on how high the user's re-learning and migration costs are." But I think it's right to say that 'loyal users are the most valuable'.

That's why I said that venture capital should invest in people, and investors should never think about squeezing entrepreneurs and squeezing to maximize profits, which will not end well. Investors can't stare at intervening in the company's operation every day, while entrepreneurs are working hard every day.

With this information asymmetry, in the case of forcing the entrepreneur to be anxious, it is enough to give the entrepreneur a full opportunity to write a new product that is not infringing, but has the same function, scraps his old product, and then transfers the number of users to the new product. ”

Gu Kun's words really opened up a new world of brain holes.

Just like in history, why around 2008, the stock price of Tengyun's company, another Xiao Ma Ge, stagnated for a year or two without rising - because at that time, the industry suspected that Xiao Ma wanted to get a new shell company, make a thing called WeChat, migrate QQ's user base, and then abolish QQ.

In that case, the interests of Tengyun's major shareholders such as MIH will be thrown away, and they can only guard an outdated shell and eat fart.

It was only later proved that the above speculation was just a rumor, and WeChat did not operate independently outside of QQ, but continued to be placed in Tengyun's old shell, and Tengyun's stock price continued to soar.

Therefore, this industry can't play the idea of squeezing the interests of the founder team. The company is operated by others, and if they want to transfer the "number of registered users", there is no way for shareholders to stop it by legal means.

Shareholders can only choose to have a good relationship with the founder.

There is only one exception.

That is, the growth of the "number of registered users" is itself piled up by capital subsidies, and there is no technical content.

In this case, the shareholder can not treat the founder as a person, but can pinch the founder casually, because he knows that the founder cannot move these users away, and the users do not have the slightest loyalty to the founder, but only spend money to buy them.

Therefore, the major shareholders of online car-hailing companies, food delivery companies, and sharing XX companies in later generations generally do not treat the founder as a human being, and they are casually humiliated. The founders of those companies often deserve to die.

In later generations, Huaxia could have tens of millions of users every day, while opening the ugly group takeaway APP, while "he~tui~" spitting a mouthful of phlegm at Boss Wang in his heart, and then continued to use the five yuan and ten yuan red envelope subsidy given by Boss Wang with peace of mind, and placed an order for just a meal.

Even if people take your lifelong subsidy, they should look down on you or look down on you.

......

It is impossible for Gu Kun to debate all these truths with Ma Feng, and some words cannot be corroborated now.

However, just relying on the few genius strokes in front of him was enough for Ma Feng to fully realize that he was well-informed.

"It turns out that Brother Gu doesn't talk to me about investment, but only talks to me about friendship, which is based on this consideration...... However, he is so knowledgeable, if he really invests in any Internet company in the future, he will definitely keep enough of his hands and will not let people transfer.

Is there any person in the world who does not leave a backhand and directly teaches his apprentice to starve to death the master so stupidly? When cooperating with Brother Gu, you must be more honest, and you must not play with your heart. ”

Ma Feng secretly warned himself that from this day on, he was pregnant with a sense of awe.

Ma Feng originally just wanted to chat for a while after eating, but now after being beaten, it became more and more embarrassing to continue talking, so the two got up and broke up.

"Kun, my resignation is a month, and I'll be gone next week. The next time we'll see you again, maybe it'll be in Ark City. Free to play, the Ark is a great place to visit. At the time of parting, Ma Feng did not forget the courtesy invitation.

"If you have the chance, maybe I will come again in the future to learn from the experience and see what your tourism industry is doing, see you later. ”

Leaving the Friendship Hotel, Gu Kun took a taxi back to the hotel, then packed his luggage and changed places to stay.

In the future, he will go to Coach Chen and the school team on business, so it is more convenient to live with everyone.

Before returning to China, Gu Kun learned the address and phone number of the school team from Tang Jia, so he went directly to him and asked for a room in the same hotel.

It was near the East Second Ring Road, very close to the workers' body.

After checking in, Gu Kuncai called Coach Chen through the hotel phone.

"Coach Chen, I'm a little Gu. That's right, it's the sports special enrollment that came in with the swimming specialty last year. I'm sorry I was abroad some time ago and just came back yesterday. I'm going to live upstairs from you right now. ”

After clarifying the situation, Gu Kun went downstairs and found the room of Coach Chen and the rest of his teammates.

It seems that the conditions of the school are not very good, and the price of business trips in the capital is expensive, so everyone's accommodation conditions are more difficult.

Coach Chen and another track and field coach shared a double standard room, which is normal. The students who participated in the selection of the plug secretly squeezed four people into one room, and they had to take turns every day, some of them sleeping in beds and some of them making bunks on the floor.

And Gu Kun lives in a suite on the top floor of the hotel, because he doesn't want the school to reimburse him, and he is completely self-funded.

When Coach Chen saw Gu Kun, he didn't know him, and it took a few seconds to react.

Who let Gu Kun enter the school, for more than half a year, he has not participated in a school team training camp.

However, for the sake of his amazing performance at the beginning, Coach Chen didn't want to embarrass him, so he vaguely introduced Gu Kun's situation to other teammates:

"Come on, come on, let's get to know, this is Gu Kun, a specially recruited international student last year, from today onwards, he will be your teammate. ”

"Hello everyone, please give me a lot of advice in the future. Gu Kun didn't have any severance, so he said hello and shook hands with everyone.

There were a total of eight students who came to swim in the school team, and Gu Kun learned from Professor Chen that six of them, including himself, were specially recruited. There are also two seniors who normally passed the college entrance examination and got in with cultural classes, but later discovered a little swimming talent, so they joined the school team.

Of course, the swimming team of Jiaotong University can have twenty or thirty students in total, which is almost a small class.

It's just that most people don't have good results, and they usually practice as substitutes, so they are not even eligible to participate in the Universiade qualifying tournament this time.

The school should also consider saving money, and it is impossible for anyone to reimburse you for the "Ten Days Tour of Beijing", so that you can come to play for nothing.

In this case, Gu Kun's appearance more or less made the seniors who didn't know his strength feel unfair.

"International students are good, I haven't participated in a single training camp, but I came out when I traveled. ”

"Don't say that, people don't seem to spend money on the school. ”