Yan Shaoguang organized a group of young people, and it was not exactly like Lujiazui Angel Wenya said, accompanying an old man to relax. Yan Shaoguang's real idea is to recruit a group of young investors and build a team that dares to fight. Like Ankang, the people selected by Yan Shaoguang come from different companies, different industries, and are good at different fields. The men were sent to a loose training camp.

Those who graduate from this training camp can voluntarily join a venture capital fund that Yan Shaoguang has just established. This venture capital fund has a very different philosophy and operation from other venture capital funds.

China's venture capital has not been around for a long time, and many venture capital funds are still in a state of savage growth in general. It's not that venture capital funds themselves want to grow this way, but because most startups are in a state of savage growth.

In addition, the integrity of the enterprise and the integrity of the individual is also a big issue. It is precisely because there is no standard and unified integrity evaluation system that many good projects cannot pass the review of the risk control department even a little stricter. There is a large amount of idle funds in the capital market, and at the same time, there are a large number of good projects that are not favored by the capital market. This is where the contradiction between the capital side and the project side lies.

On the other hand, there are many players who are well versed in the way of capital use their own resources and connections to heavily package or even disguise many projects. Its purpose is not to use the power of capital to promote the development of the project, but only to circle money from the capital market.

This has led to the emergence of many PPT financings. The so-called PPT financing refers to the fact that there is no product, no service, no real team, and only a concept presented on the PPT to seek financial support in the capital market. This type of financing came from the United States. Many entrepreneurs use this philosophy to impress investors, obtain seed funding, and then use the seed money to recruit teams to develop products and services.

Some people in China have tried this financing method and have succeeded. However, because of the problem of integrity, such financing methods have not been carried out on a large scale. However, this does not prevent some people in the capital market from taking a fancy to this kind of good business.

It is precisely because PPT financing has the characteristics of low cost and high return that some people work hard to turn it into a very profitable business. Although the failure rate of this financing method is extremely high, it cannot stand the low cost.

For example, if a person packages 20 entrepreneurial projects at the same time, as long as 1 of these 20 projects successfully obtain financing, then the investment-return ratio is also very impressive. Because the cost of PPT financing investment mainly comes from social networking and travel, the investment cost of a project can be controlled between 20,000 and 30,000 yuan, and the more can not exceed 50,000 yuan. But once successful, the seed round can often lead to an investment of 1 million or even 2 million. After the seed round of financing is successful, it is very easy to get a ticket for the angel round of investment, so that the investment will be at least 5 million.

Recently, several popular projects have raised billions of yuan through PPT. This has made public opinion about justifying PPT financing very loud.

At this time, if people knew that only a few years later, someone would have raised tens of billions of yuan with a PPT, what should they think?

In this context, PPT financing and the corresponding project packaging have formed a very standardized industrial chain. And it is precisely because this industry is too standardized, too rigorous, and too competitive, that there is no way for truly pragmatic projects to compete with these people and companies who are good at PPT financing.

Of course, PPT financing is only an extreme example, and the vast majority of companies actually still have entities, but these entities are very confusing, so that investors cannot fully understand whether there are real products, real services, real customers, and real businesses behind the entities. After all, it's not uncommon for relatives and friends to register a company to pour the left pocket into the right pocket.

Of course, not all PPT financing is a capital scam. Indeed, there are many entrepreneurs with ideas and no capital who urgently need the support of the capital market.

Investors are always on the cusp of this capital game.

The training method of Yan Shaoguang's training camp is very different from the training that Ankang participated in his own company and the various forums held in Lujiazui. This training method is very similar to the teamwork that Ankang participated in at the U.S. headquarters where Bristal invested in the company.

Yan Shaoguang will most likely take these young investment managers to leave Lujiazui to climb mountains, eat farmhouses, and soak in hot springs, and then in the process, Yan Shaoguang will teach his investment philosophy to the younger generations.

Under Yan Shaoguang's propaganda, Ankang has another understanding of investment. Everything, no matter how glamorous or complicated it may be, can be reduced to its primitive, and then you can see it as it is. This is exactly what "the road to simplicity" is said in "Lao Tzu".

But why does investment feel so complicated and unfathomable, and why do investors have so many halos on their heads? It's just the rules of the game. Imagine if a client knew that your job was easier and more enjoyable than they thought, would they still pay you a large commission?

In principle, all business valuations can be solved by addition, subtraction, multiplication and division learned in elementary school, but in the capital circle, everyone uses advanced mathematics learned in college to solve the problem of business valuation. It's not because it's easier or more efficient to solve it, it's just because it makes it feel more mysterious and valuable to the customer. That's all.

Of course, higher mathematics is not useless, and it still has its value in business valuation.

What is the essence of investing? It's the same as going to the vegetable market to buy vegetables, buy low and sell high.

Grocery shopping is the act of buying low and selling high in one day, while investing is the act of buying low and selling high in as little as a second and as long as a lifetime. The subject matter of buying and selling may be stocks, bonds, commodities, or the currency itself, or even an investment in people.

In the final analysis, the capital game is not a game of money, but a game of people. This is exactly what Ankang just watched in the movie about investment managers "ThePursuitofHappiness" in which a successful investor said to Will Smith, who was in the midst of hunger and cold, "goodwithnumbersandgoodwithpeople".

Known as the Lujiazui Angel, Wen Ya will participate in every event. She is the lubricant between Yan Shaoguang and this group of young people. Of course, Wenya herself is also a young person, but compared with Ankang and them, Wenya has a maturity that is very incompatible with her age.

An Kang has always suspected that there is an ulterior relationship between this Wenya and Yan Shaoguang.

But Wen Ya once said to Ankang: "Don't guess. Mr. Yan freed me from a misery. Taught me how to be myself. ”