The fluctuation of Yahoo's market capitalization did not shake Zhou Shi's determination, but instead gave him the opportunity to buy stocks while the price was low. Even if Yahoo Brain is difficult to succeed in the end, the patents and technical reserves obtained in the middle can also make Yahoo News and Toutiao's artificial intelligence recommendation algorithm develop greatly, and Toutiao can do it in the previous life, and it makes no sense that Yahoo can't do it after investing so much. However, the copyright systems of the two countries are different, and the development of Toutiao will be more difficult, but Yahoo can be regarded as a curve to enter the Chinese market.

The matter of Ali and Yahoo is definitely not over now, Yahoo's domestic brand and management rights are in the hands of Ali, which has a great impact on Zhou Shi's global brand strategy in the future, but now there is no money to buy, which is a trouble. In addition, if Yahoo wants to cash out from Alibaba, Ali's overall listing is almost a must. Then the first thing to do is to privatize Alibaba Group's listed company in Hong Kong, and the whole process will take a long time. SoftBank has suffered such a big loss, and it will not be willing, which is another trouble.

Yahoo's revenue last year was about $6 billion, and this year's revenue may fall a lot, and Yahoo's revenue in 2011 was less than $5 billion, and the annual profit may not reach $1 billion. Google is naturally the boss, F&F is getting stronger and stronger in the Internet advertising market, YouTube has become the leader of video advertising, and Yahoo's position is becoming more and more embarrassing. After the merger of Yahoo and Yelp, it may increase its revenue by 20~3 billion US dollars, but the profit will definitely be greatly reduced, and even there will be a loss, which is also a matter of no way, in fact, if possible, he really wants to spin off yelp and leave Airbnb, but unfortunately it is too bad to do so. Although he left the pressure to the market, he will get more support from the market, but think about it. After the difficulties of the past few years, even Uber and Lyft, two online ride-hailing companies, should be worth about 30% of their equity value.

"Yahoo Dictator" has become the name of Zhou Shi, the limelight changes so quickly that people are caught off guard, one moment he is regarded as Yahoo's last hope, and the next moment someone says: "This idiot from China is a child who has not grown up." It's not as freckled as the freckled face next door who doesn't know how to wear a suit or tie!"

Well, high-tech investment is not suitable for all companies, if it is a company like Google, they have sufficient cash flow, and some people will only praise them for their vision, but this company that is still struggling to survive dares to do such an unprecedented thing, it is really rebellious.

"The market will tell them that the ideal is very plump and the reality is very skinny!" said someone gloating

"This Chinese person, do you know what a neural network is, deep learning, and AI!" Some people despise him, and Jackma also expressed his incomprehension of Zhou Shi's impulse, and deeply doubted that Zhou Shi could succeed, and if he failed, Ali might fall into turmoil again. “”

Although Yahoo's stock price did not fall in a straight line, it was obviously weak to rise and began to fall day by day. In about three months, Yelp will officially merge into Yahoo. He really doubts that the combined market value of the two companies will exceed $30 billion.

Although there are doubts about Yahoo's development of AI, Zhou Shi's exploration of new media is not so harsh, Zhou Shi said very clearly, fake news is rampant on social networks, and people need more professional media people. What's more, after Zhou Shi acquired Newsweek, he let them open public accounts on platforms such as Twitter and F&F in the name of the magazine, and used some small privileges to push Newsweek to more people. However, although the influence was maintained, the income did not increase much. Zhou Shi is obviously trying to find a way to increase the income of the media this time.

It's an indisputable fact that revenues in the news media industry are declining, and many companies are looking for new outlets. Not long ago, News Corp. cooperated with Guoke and Apple to publish an electronic newspaper "The daily", and the New York Times also made its own changes, such as electronic subscription function. While it worked, it didn't have much effect on the industry as a whole. In the previous life, the rise of Huaxia Toutiao brought about the rise of self-media, which may reshape the entire industry. People's antipathy to low-quality fake news naturally leads to the emergence of better journalists. Perhaps the traditional media will be reborn in such a nirvana. It's just that it remains to be verified whether the aggregator news will become mainstream or the APP of the major media will become the mainstream, and perhaps in the future, with the maturity of artificial intelligence to write news, Toutiao itself will become a media company. Zhou Shi doesn't know what form of new media will grow in the social environment in the United States, this concept has been out for more than ten years, and there is still no clear trend, but he doesn't mind trying to do it himself.

Toutiao will definitely not open an official account for all users, and it must be an invitation system at the beginning, for example, now there are forty or fifty professional media living in Toutiao. This is followed by professionals from all walks of life, well-known groups and institutions. Finally, there are entertainment and corporate stars, if the user base of this app is large enough, they will naturally join for the sake of publicity. But in the early days of the popularity of today's headlines, there is a lack of sufficient information consultation, can not attract users, without users can not attract content creators such as self-media, this is a very contradictory thing, if it is good to say in Huaxia, copyright protection is not strict, the development of today's headlines in the first few years is illegal, but the market environment in Huaxia determines that he has this opportunity, Zhang Yiming is not a technical hero, but repeats the road of the first generation of reckless heroes since China's reform and opening up, or even worse. Many of the first-generation entrepreneurs, let's call them entrepreneurs, don't understand the law. But Zhang Yiming is different, he understands the law, and he is good at using the law, and knows that in the existing environment in China, the cost of breaking the law is not high. Facts have also proved that the headlines that have grown up by stealing various media resources have made these media bow to him. And unlike disruptive innovations like Uber, which have no specific legal restrictions. If Zhang Yiming is a hero, then his only hero is that he has broken the pattern of the three giants of the domestic Internet world, giving Chinese Internet companies a precedent for growing in the cracks.

Zhou Shi's Toutiao today will rely heavily on Yahoo News, which is also indispensable in development, and without enough news sources, it will be difficult for Zhou Shi to develop even if he is a god. Fortunately, the core of Toutiao may not be the news source, but social media, the internet media platform that people use to share their opinions, insights, experiences and opinions with each other.

(End of chapter)